Alio names Adarsh Parekh as Chief Financial Officer
The company adds seasoned leaders to its executive team, maintaining its considerable momentum through the first quarter of 2023
BROOMFIELD, Colo., March 16, 2023 /PRNewswire/ -- Alio, Inc., a medical technology company reinventing the management of chronic disease, announced its new Chief Financial Officer (CFO), Adarsh Parekh, in addition to a few other key leadership hires. He served as Alio's Vice President of Finance for the past year, helping to further reinforce the company's trajectory, strategic planning, and aid in the initial close of its Series C fundraising round.
Parekh is a seasoned private equity and investment banking professional with over $2 billion of M&A, capital markets and direct investing experience as well as asset management experience across multiple sectors. Prior to joining Alio, Parekh served as Principal of a large, multinational private equity firm where he led acquisition, strategic planning, financial operations and divestiture efforts for several vertically integrated portfolio companies resulting in outsized returns to investors. Parekh's extensive on-the-ground asset management experience includes establishing and scaling organizations as well as transitioning conventional business models to recurring revenue-based operations.
"We are at such an exciting point in our growth trajectory as a company," said Parekh. "Our technology has tremndous potential and I'm passionate about the impact we can have on those living with chronic conditions. It's truly a privilege to join an extraordinary, mission-driven team delivering life-changing innovation to an underserved and overlooked patient population."
Alio continues to scale the organization to match growing demand including opening a second office in Broomfield, Colorado which now has more than 20 employees including Julia Quirk who was recently named as Alio's Vice President of Human Resources. Adding Parekh and Quirk further solidifies the senior leadership team as the company prepares for commercialization, expands upon the novel metrics its SmartPatch can deliver, while also growing and nurturing a robust network of strategic partners.
"We have the opportunity to help so many people - to make better care possible, to avoid adverse health events, and reduce cost to the system," said David Kuraguntla, CEO and Co-Founder of Alio. "Adding seasoned leaders like Adarsh and Julia to our team will help us maintain our momentum and have the kind of impact we've always envisioned Alio would have. With millions of people around the world living with ESKD, we have an obligation to leverage our technology to improve their lives and I have never been more confident in our team's ability to deliver."
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