Butterfly Taps MedTech Titan Neubauer to Guide Global Expansion

NEW YORK & BURLINGTON, Mass. – May 08, 2026 – Butterfly Network, a company that pioneered semiconductor-based portable ultrasound, has appointed Caroll H. Neubauer, a distinguished veteran of the medical device industry, to its Board of Directors. The move, effective May 18, 2026, is seen as a significant strategic maneuver to bolster the company's ambitious goals for global expansion and profitability.

Mr. Neubauer, who will serve on the Board’s Compensation and Technology Committees, brings a formidable resume that includes three decades at the global healthcare giant B. Braun. His appointment comes as Butterfly Network stands at a critical inflection point, seeking to transition from a disruptive hardware innovator to a comprehensive, software-driven imaging platform.

A Proven Architect of Global Growth

The core of Mr. Neubauer's value to Butterfly Network lies in his proven ability to scale a medical device business on a global stage. During his 29-year tenure on the Global Management Board of the B. Braun Group, he was a key architect of its staggering growth, helping to expand annual revenue from approximately $1 billion to over $8 billion.

His leadership was particularly transformative in North America. As Chairman and CEO of B. Braun USA from 1996 to 2020, he grew the division's revenue from just $247 million to more than $2 billion, establishing it as a market leader in infusion therapy and pain management. This experience in building commercial infrastructure, navigating complex markets, and forging large-scale partnerships is precisely what Butterfly Network needs as it evolves.

"Caroll spent three decades building and scaling one of the world's leading medical device companies, navigating global markets, complex regulatory environments, and large-scale commercial partnerships," said Joseph DeVivo, President, Chief Executive Officer and Chairman of Butterfly. "That breadth of experience — from growing a business across geographies to forging the kinds of industry relationships that open new markets — is directly relevant as Butterfly evolves into a multi-faceted platform."

This strategic alignment is underscored by Butterfly's recent performance. The company reported a 25% year-over-year revenue increase to $26.5 million in the first quarter of 2026, narrowing its net loss and improving its adjusted EBITDA by 32%. With a reaffirmed guidance aiming for up to 24% growth for the full year and a long-term goal of reaching $500 million in revenue within five years, Neubauer’s expertise in managing and accelerating such growth trajectories is invaluable.

Navigating Policy and Paving the Way for Innovation

Beyond commercial success, Mr. Neubauer brings a deep understanding of the intricate web of healthcare policy and regulation. His more than 15 years on the Board of Directors of the Advanced Medical Technology Association (AdvaMed) were marked by significant influence. He played a central and widely lauded role in the successful multi-year effort to repeal the U.S. medical device tax in 2019, a major victory for the industry. His contributions were so profound that AdvaMed honored him with its highest distinction, the Lifetime Achievement Award, in 2024.

This policy acumen is a critical asset for a company like Butterfly, which is introducing disruptive technologies that often outpace existing regulatory frameworks. As the company expands the capabilities of its AI-powered software and its unique Ultrasound-on-Chip™ technology, navigating market access, reimbursement, and regulatory approvals will be paramount to its success. Neubauer’s experience provides the board with a seasoned navigator who has not only complied with regulations but has actively shaped the policy landscape.

This is particularly relevant as Butterfly celebrates its own regulatory milestones, such as securing the first FDA clearance for a blind sweep AI tool designed to determine fetal gestational age. Having a board member who intimately understands the nuances of the FDA and other global regulatory bodies can help streamline the path to market for future innovations.

Guiding a Differentiated Technology Platform

In his new role, Mr. Neubauer will also sit on the Technology Committee, a position that places him at the heart of Butterfly's innovation strategy. The company has built its reputation on a foundation of unique technology, commercializing the world’s first single-probe, whole-body portable ultrasound device, the Butterfly iQ3™. This is complemented by a growing software and AI ecosystem, including its enterprise workflow solution, Compass AI™, and the Butterfly Garden™ software development kit, which allows third parties to build apps on its platform.

Mr. Neubauer recognized this unique positioning in his statement on the appointment. "Butterfly has built a genuinely differentiated technology platform, and the company is at a compelling moment: accelerating toward profitability while pursuing multiple growth initiatives," he said. "That combination of financial momentum and strategic breadth is what makes this such an exciting time to join the Board."

The portable ultrasound market is increasingly competitive, with established giants like GE HealthCare, Philips, and Siemens Healthineers offering robust solutions. While Butterfly's chip-based technology provides a key differentiator, sustained success will depend on strategic execution and commercial prowess. Neubauer’s experience at B. Braun, transforming the company by focusing on high-value specialty products and securing market access through strategic agreements, provides a direct playbook for Butterfly.

His guidance will be especially crucial for Butterfly’s high-margin licensing business, Butterfly Embedded™. This division, which licenses the company's core chip technology to partners in other industries, saw its revenue increase by a staggering 147% in the first quarter. Nurturing this segment is key to the company’s strategy of transitioning into a higher-margin, software-centric entity. With his track record, Neubauer is uniquely positioned to help Butterfly leverage its technological advantages into dominant and profitable market positions across all its business segments. His appointment signals a clear intention by Butterfly Network to not only innovate but to build a durable, global, and highly profitable enterprise on the foundation of that innovation.

The move is more than just adding a respected name to the roster; it is a deliberate infusion of experience tailored to Butterfly's most critical strategic needs as it aims to redefine the landscape of medical imaging.