Sonitor Technologies Appoint Erik Fausa Olsen Chief Financial Officer

Real Time Location Systems (RTLS) Technology Innovator Continues To Build On Highly Experienced Executive Leadership Team

Stamford and Oslo (June 11, 2015) Sonitor Technologies, the global RTLS technology leader, today announced that it has appointed Erik Fausa Olsen as Chief Financial Officer. 

Olsen brings more than 15 years of diverse executive experience, including business development, M&A, operational and financial leadership largely for growth companies. This includes Ferd, a diversified private an investment company with a net asset value of $4.4 billion, where he held corporate finance, investment director and managing partner roles. He has also held CFO positions at Mestergruppen AS and Evatic AS, building on his earlier career experience as a Senior Consultant at Deloitte & Touche Corporate Finance. 

“We looked very carefully for someone who had a range of international financial and operational experience and who was very much hands on. We’re pleased to have added that very important combination to our already strong leadership team," said Per Heidenreich, Sonitor Technologies Executive Chairman of The Board. “Having Erik’s talent and experience is particularly important as Sonitor Technologies and the RTLS industry gain traction in healthcare, hospitality and beyond. ” 

Sonitor Technologies’ track record as a RTLS leading player and technology in healthcare positions it well to take advantage of the rapid growth of RTLS markets. Several leading research and analysts groups such as Allied Market Research and Frost & Sullivan project steep growth curve for the RTLS market over the next several years, and TechNavio, forecast RTLS will grow by CAGR of 38% or more between 2013 and 2018. 

About Sonitor Technologies, Inc. (www.sonitor.com) 

Sonitor Technologies’ tiered resolution Real Time Location Systems (RTLS), with patented High Definition Ultrasound capabilities, are specifically developed and designed for indoor positioning in complex environments. Sonitor has developed the healthcare industry’s most advanced open integration RTLS platform, Sonitor SenseTM, a wireless system which supports a wide range of applications to make hospital operations more efficient. Sonitor is selected by world-class partners to build industry- leading solutions for global deployment.