KATE FARMS APPOINTS DANIEL WELCH TO CHIEF FINANCIAL OFFICER POST

PR Newswire

--Welch Joins After Successful Finance Leadership Positions at Oura, Sonos--

SANTA BARBARA, Calif. , June 6, 2023 /PRNewswire/ -- Kate Farms ^® the market leader bringing plant-based nutrition into healthcare, today announced the appointment of Daniel Welch to the post of Chief Financial Officer. Welch joins Kate Farms from Oura Health, maker of the Oura Ring, where he was Chief Financial Officer.

At Oura, Welch was responsible for driving all aspects of the company's financial activities including financial reporting, planning, treasury, investor relations and corporate strategy. Prior to Oura, Welch led the corporate finance team at Sonos, Inc., where he was responsible for corporate development, strategy, and treasury functions. He helped launch the company's corporate development, treasury and investor relations functions at its IPO and led multiple acquisitions and investments on behalf of the company. Welch started his career in investment banking and prior to Sonos was at Morgan Stanley, where he was a vice president in the investment banking group. Over the course of his investment banking career, he guided many companies through mergers, acquisitions, capital raising activities and IPOs. He holds a BBA in Finance from Baylor University .

"It's a great pleasure to welcome Daniel to Kate Farms," said Brett Matthews , Chairman and Chief Executive Officer of Kate Farms. "The professional experience he brings is invaluable to Kate Farms and our teams, and his personal passion for wellness and health will help drive the growth of our entire business." Welch will manage all Accounting and Finance functions including FP&A, leading Corporate Development, managing Treasury and working closely with the Board of Directors and its Finance Committee.

The appointment of Welch follows Kate Farms recent $75MM Series C financing round, led by Novo Holdings, a $120B non-profit and leading international life sciences investor. Proceeds are funding Kate Farms' investments in advancing plant-based clinical nutrition research, product innovation and expansion into additional channels to enhance access to its high-quality, vital nutrition to support those living with chronic illnesses and acute conditions.

"I have always had a passion for mission-oriented companies, and I have a tremendous amount of both personal and professional alignment with Kate Farms as a company," said Welch. "As someone who has maintained a plant-based diet for a long time, I am passionate about the concept of food-as-medicine and the power of food to heal and nourish humankind. From a business standpoint, Kate Farms has an incredible amount of momentum and is hitting a critical inflection point in its growth. I am excited to join the team and help drive the company to the next level!"

About Kate Farms

Kate Farms was founded when a little girl named Kate Laver was failing to thrive because she couldn't tolerate any of the available tube feeding formulas. Her determined parents, Richard and Michelle, had the transformative idea to develop a better formula using high quality, organic, plant-based ingredients without the common allergens and ingredients often found in traditional formulas. Today, Kate is thriving, and Kate Farms is now the #1 recommended plant-based brand*.

Kate Farms offers medical formulas for children and adults, to be used as the sole source or as supplemental nutrition, for oral or tube feeding. They are available nationally and eligible for insurance coverage with Medicare, Medicaid, and private insurance. Kate Farms formulas are made for tolerance with easily digested organic pea protein, fiber, and phytonutrients, and without common allergens or artificial sweeteners or flavors. Kate Farms can be accessed in more than 800 US hospitals, including the top children's hospitals; availability is increasing daily. Visit www.katefarms.com .

*Independent Plant-based Formula Survey

Contact:
Errin Cecil-Smith
Errin.cecil-smith@katefarms.com
215 439 7776