3M names CEO Roman as board chair | Personnel Moves – February 7, 2019

3M CEO Roman

3M (NYSE:MMM) said yesterday that its board of directors nominated CEO Mike Roman as its new chairperson, with current exec chair Inge Thulin announcing their intention to retire.

The move is slated to take effect following the St. Paul, Minn.-based company’s annual meeting of shareholders on May 14.

“Under Inge’s leadership, 3M evolved into a more agile and competitive enterprise while generating tremendous value for customers and shareholders. Today’s decision underscores the Board’s confidence in Mike’s leadership and strong character to lead 3M into the future as both CEO and chairman of the board,” board independent lead director Mike Eskew said in a prepared statement.

“I am proud of 3M, our people, and what we’ve accomplished together. I’ve known and worked very closely with Mike, including since his appointment as CEO. I’m very confident that 3M’s best days are ahead and Mike will do a fantastic job leading 3M into the future,” Thulin said in a press release.

“It’s an honor to be nominated to the additional role of chairman of the board. I thank Inge for his leadership and partnership throughout my career, especially over the past year in his role as executive chairman,” Roman said in prepared remarks.

 VentureMed names former NxThera prez Paulson as CEO

VentureMed said on Tuesday that it named former NxThera prez & CEO J. Robert Paulson, Jr. as its new prez & chief executive, effective January 1.

Paulson will replace Gary Smith, who the Toledo, Ohio-based company said will continue to serve as a member of the leadership team.

Prior to joining VentureMed, Paulson served as prez, CEO and board director of NxThera from 2009 until the company’s acquisition by Boston Scientific (NYSE:BSX) last year.

Before joining NxThera, Paulson also held president and CEO positions with Restore Medical, which was acquired by Medtronic (NYSE:MDT) in 2008.

“Bob brings tremendous knowledge and experience to the VentureMed Group, together with a strong track record of building successful teams and commercializing compelling new medical technologies. We look forward to Bob’s contributions and leadership during this next phase of the company’s growth. On behalf of the board of directors, I would like to thank Gary for his significant contributions, which have created a solid foundation for the future success of the VentureMed Group,” board member and Endeavour Vision partner Alexander Schmitz said in a press release.

“I am thrilled to be working with our team and physician partners to expand adoption of our Flex VP System, to improve the treatment of peripheral arterial disease, and AV fistulas and grafts, in millions of patients around the world,” Paulson said in a prepared statement.

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 Repro-Med Systems lifts prez & CCO Petigrew to the corner office

Repro-Med Systems said on Monday that its reconstituted board of directors promoted prez & CCO Don Petigrew to the position of CEO.

Petigrew will replace interim CEO and chair Dan Goldberger, who is assuming the position of exec board chair, the Chester, N.Y.-based company said.

“As an industry leader in the home infusion market, RMS delivers invaluable medical and lifestyle solutions to patients who rely on our products. My vision as CEO is to innovate and improve our products such as the FREEDOM system, partner with the medical community to identify new patient needs and expand our reach in the US and abroad. Achieving these goals is a win-win for patients, providers and shareholders alike,” prez & CEO Petigrew said in a prepared statement.

“Don’s presence since joining the company has been immediately accretive. His experience in the infusion industry has uniquely positioned him to build upon the company’s successful foundation. I look forward to working with Don and the team at RMS and our newly reconstituted Board of Directors in my role as Executive Chairman to help the company achieve its potential and execute on our strategy,” exec chair Goldberger said in a press release.

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 Myomo taps Henry as CFO

Myomo said yesterday that it named David Henry as its new CFO, taking over for current chief financial officer Ralph Goldwasser, who is retiring effective February 18.

The Cambridge, Mass.-based company said that Goldwasser will stay on to help in the transition for an anticipated three months.

Prior to joining Myomo, Henry served as chief financial officer of Eos Energy Storage, and has also held CFO positions with American Semiconductor Corp and AMI Semiconductor.

“I would like to thank Ralph, who has worked with me at Myomo for the past eight years, first as a consulting CFO and later as our chief financial officer, enabling us to raise growth capital, including leading our June 2017 IPO and listing on the NYSE American exchange and our follow-on equity financing in December of 2017. We wish Ralph the best in his retirement. We are pleased to have David Henry join Myomo’s executive team as chief financial officer. David has extensive experience to support our efforts to grow the company,” chair & CEO Paul Gudonis said in a press release.

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 Amazon, Berkshire Hathaway & JP Morgan venture snags Kutan as CTO

The joint healthcare venture between Amazon (NSDQ:AMZN), Berkshire Hathaway and J.P. Morgan Chase has picked up former tech chief at digital healthcare startup ZocDoc Serkan Kutan as its new chief technology officer, according to a recent CNBC report.

The move was confirmed as official by the new health venture, according to the report.

“I am thrilled to now announced that I am serving as CTO of this new venture,” Kutan wrote in a LinkedIn posting, according to CNBC.

During his time at ZocDoc, Kutan was tasked with building technology allowing consumers to book doctors appoints digitally, according to the report.

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UnitedHealth Group’s Optum sues VP who left for Amazon venture

judge gavel lawsuit medtech medical device Optum Amazon

[Image from Unsplash]

UnitedHealth Group’s Optum IT-based health services unit has sued former VP David Smith, claiming that he misappropriated trade secrets before leaving to join a new healthcare venture supported by Amazon.

Smith’s lawyers are seeking to move the case to arbitration.

The complaint, filed Jan. 16 in U.S. District Court in Massachusetts, accuses Smith of printing out a confidential Optum in-depth healthcare market analysis just a minute before printing out his resume. It was the same day that he spoke with the healthcare innovation venture nicknamed ABC, now led by Dr. Atul Gawande and supported by Amazon, Berkshire Hathaway and J.P. Morgan Chase.

Smith, who went from being VP of corporate strategy to being VP of product during 18 months at Optum, also sought confidential information from colleagues that was not related to his job duties, according to the lawsuit complaint.

Smith resigned Optum last month to join ABC as director of product strategy and research. Just a day before he told Optum that he planned to resign, he printed out a highly confidential document including product portfolio performance, new product development and a product job family and assessment plan, the complaint said.

“If Smith is permitted to work for ABC, he will inevitably use Optum’s trade secrets to expedite ABC’s development of competitive capabilities and products. Even if those products take more than a year to commercialize, Smith’s assistance in the process of beginning to develop them now is a direct competitive harm to Optum,” Optum’s lawyers said in the complaint.

Optum is seeking an injunction to prevent Smith from working for ABC or divulging trade secrets, as well as damages.

Smith’s lawyers in their own filing argue that the dispute falls under Optum’s employment arbitration policy, so the case should be handled through arbitration, not a lawsuit trial.

Said Smith’s lawyers: “There is no reason for this case to be in court.”

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Gerresheimer taps Metzner as CFO | Personnel Moves – December 14, 2018

Gerresheimer CFO Metzner

Gerresheimer said late last month that it tapped Dr. Bernd Metzner as its new chief financial officer, set to take position at the latest by July 1 next year.

Prior to joining the Dusseldorf-based company, Metzner acted as CFO at Ströer, a position he took up in June 2014. He also held positions at Bayer from 2002 to 2011, holding the CFO position for Bayer Italy and the global CFO position for Bayer’s pharma division.

“In Dr. Bernd Metzner, we have gained a highly experienced chief financial officer for Gerresheimer AG. Along with chief executive officer Dietmar Siemssen and management board member Dr. Lukas Burkhardt, Gerresheimer is led by a strong team who will extend the company’s growth trajectory on a lasting basis,” supervisory board chair Dr. Axel Herberg said in a prepared statement.

“Pharma and cosmetics are highly promising, attractive markets. Gerresheimer is a strong global partner to both of these industries. I look forward to being able to bring my experience to bear at Gerresheimer going forward,” Metzner said in a press release.

 Organovo’s Samsara Sciences CSO & prez Presnell steps away

Organovo (PINK:ONVO) said late last month that its subsidiary Samsara Sciences’ chief scientific officer and president Dr. Sharon Presnell is stepping away from their position.

The move went into effect on December 5, the San Diego, Calif.-based company said in an SEC filing.

The move comes as Dr. Presnell looks to relocate to the east coast to “pursue an opportunity with a non-profit foundation and to be closer to family,” Organovo said.

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 GI Dynamics adds Carter as CFO

GI Dynamics (ASX:GID) said on Tuesday that it named Charles Carter as its new chief financial officer.

In addition to his position as CFO, Carter will also serve as the Boston-based company’s treasurer and will replace Dave Bruce as its secretary. Carter has nearly 16 years of experience as a finance exec in the medical industry, GI Dynamics added.

“I am excited to join the GI Dynamics management team at this exciting time in the company’s development. It is clear that this company is committed to serving the large and rapidly growing population of patients with type 2 diabetes and obesity with an innovative treatment option that is clearly needed,” Carter said in a press release.

“On behalf of the GI Dynamics board of directors, I am pleased to announce the appointment of Mr. Carter. We have been working with Mr. Carter for several months now on a more limited basis, and we now look forward to the impact of his expanded leadership role at GI Dynamics as we prepare for the commencement of the GID 18-1 pivotal trial in the U.S. and the EndoBarrier clinical trial in India,” prez & CEO Scott Schorer said in prepared remarks.

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 Amazon, Berkshire Hathaway & JP Morgan HC venture picks up BCBS’s Safran

The healthcare joint venture started by Amazon (NSDQ:AMZN), Berkshire Hathaway and J.P. Morgan has picked up well-known health insurance exec Dana Gelb Safran as its new head of measurement, according to a CNBC report.

Prior to joining the still unnamed venture, Safran served as chief performance measurement and improvement officer at Blue Cross Blue Shield of Massachusetts, according to the report.

Safran is slated to begin their role with the company next year, CNBC said.

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 Aethlon appoints Rodell as interim CEO

Aethlon Medical (NSDQ:AEMD) said yesterday it named Dr. Timothy Rodell as its new interim CEO, effective December 10, succeeding James Joyce who will stay on as a consultant during the transition.

Prior to joining Aethlon, Rodell served as prez & CEO of GlobeImmune, San Diego-based Aethlon said.

“We are delighted to welcome Tim to Aethlon. Tim’s depth and breadth of experience in financing, structuring corporate deals, clinical development and regulatory strategy, both in the U.S. and internationally, will be of great value as we prepare Aethlon for the next phase of development. On behalf of the board of directors, I want to thank Jim Joyce for his leadership, commitment and accomplishments as chief executive officer.  We wish him continued success in his future endeavors,” board chair Dr. Charles Fisher, Jr. said in a press release.

“I am both honored and thrilled to join Aethlon at this time. I believe the Aethlon Hemopurifier has great potential for treating life-threatening viral infections and potentially cancer.  I look forward to working with the team at Aethlon and its collaborators to continue to advance the science and in an effort to bring important treatments to patients and create value for shareholders,” Dr. Rodell said in a prepared statement.

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Amazon eyes chronic health market with Arcadia Group’s Choice health brand launch

Amazon, Arcadia Group's Choice Health

Amazon (NSDQ:AMZN) will be offering select consumer-use medical device for diabetes and hypertension management, according to a press release from the Arcadia Group.

The UK-based Arcadia Group said they are launching a new line of such devices under the brand Choice, looking to enter into the field by offering blood glucose monitors and blood pressure monitors that will be smartphone connectable.

The new Choice brand will offer conventional models and Bluetooth connectible versions, according to a press release. The company said that it previously developed Walmart’s ReliOn brand and Abbott‘s (NYSE:ABT) Freestyle line of diabetes devices.

“The Choice brand is all about accessible wellness.  Consumers no longer need to drive to a store to stand in-line and purchase their medical devices and supplies. Now, in the privacy of their home, consumers can review, compare and purchase the products of their choice. No insurance is required. Therefore, customers have the freedom of choice.  They will no longer be told by their insurance company what brand they can by. Choice is freedom. Our products are best in class and very affordable. Over time we intend to incorporate voice driven measurement interpretation as well as individualize wellness recommendations. This is all possible with Alexa, and will provide patients with a wellness experience not available until now,” Arcadia Group CEO Bob Guest said in a press release.

A recent report from The Telegraph suggests that future generations of Amazon’s Alexa virtual assistant may be able to determine when its users are ill and provide medication recommendations.

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Report: Next-gen Amazon Alexa could detect illness, provide medicine suggestions

Future generations of Amazon‘s (NSDQ:AMZN) Alexa virtual assistant may be able to determine when its users are ill and provide medication recommendations, according to a new report from The Telegraph.

The online retail giant has reportedly patented a new version of Alexa designed to analyze speech and identify signs of illness, according to the report.

Read the whole report on our sister site, Drug Delivery Business News

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Report: Amazon-Berkshire Hathaway-JPMorgan Chase health play struggles to find CEO

The joint healthcare venture between Amazon (NSDQ:AMZN), Berkshire Hathaway and J.P. Morgan Chase that looks to lower costs and improve health insurance is struggling to find the right individual to fill the corner office, according to a CNBC report.

The joint venture began searching for a CEO after announcing its launch in January, according to the report, meeting potential candidates by phone and in person in Omaha, Nebraska, where Berkshire Hathaway resides, and in New York, where J.P. Morgan is based.

The group considered health insurance and policy experts, including ex-Aetna exec Gary Loveman and former CMS chief Andy Slavitt, CNBC reports, but none were selected.

Interest has shifted to individuals with an entrepreneurial background in tech and health who are removed from involvement in health insurance and drug supply, according to the report. A recent top choice for the group is Grand Rounds Health CEO Owen Tripp, who runs a medical second-opinion service start-up, though Tripp is reportedly committed to his current position.

Warren Buffet, Berkshire CEO and major player in the combined group, said during an investor meeting for the JV that they hoped to have a chief exec “within a couple of months,” according to CNBC.

Whoever is chosen will have a significant task ahead of them, managing a combined 1.2 million employees across the three companies in a multitrillion-dollar industry, according to the report.

The group announced the venture in January, and sent shares in major health insurers UnitedHealth and Anthem down in response.

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Report: Amazon abandons drug distribution and supply plans

Amazon‘s (NSDQ:AMZN) Business division has dropped plans to sell and distribute pharmaceutical products to hospitals, according to a new report from CNBC.

The shift comes due to the online mega-retailer being unable to convince large hospital groups to change their purchasing process and break existing deals and relationships with distributors, according to the report.

Read the whole report on our sister site, Drug Delivery Business

 

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Amazon lures ex-FDA chief health informatics officer for healthcare skunkworks

Amazon (NSDQ:AMZN) is continuing to build its healthcare team, this time picking up former FDA chief health informatics officer Taha Kass-Hout, according to a report from CNBC.

Kass-Hout is slated to take up a business development role with Amazon’s Grand Challenge team, a moonshot technology program similar to Google‘s (NSDQ:GOOG) Google X lab, according to the report.

Amazon has not yet released details on the hire, or what projects in specific that Kass-Hout will work on as the company stays hush-hush on its healthcare endeavors.

Kass-Hout will reportedly be working alongside Amazon Grand Challenge chief Babak Parviz, who previously acted as a director at Google X but jumped ship to Amazon in 2014 as a VP, CNBC reports.

Amazon may be looking to use Kass-Hout’s expertise in healthcare informatics in a project aiming to improve consumer access to healthcare records, CNBC theorizes. The move would be in line with Kass-Hout’s previous work, as he led the openFDA initiative while at the Agency in 2013.

Most recently, Kass-Hout worked at Michigan’s Trinity Health, departing last May according to his LinkedIn profile.

In February, the Wall Street Journal reported that Amazon was looking to revamp its medical supplies business and turn the unit into a major supplier to US hospitals and clinics.

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Medtech’s existential crisis and how it can survive

The new EY report even includes an equation to show how medtech and other life science companies will need to deliver value: “Future value (FV) is driven by innovation (I) that focuses on outcomes with a high degree of personalization and is fueled
by unlocking the power of data (D.” [Image courtesy of EY]

Executives in medtech and other life sciences companies view digital health startups and high tech giants as an existential threat. To compete, they’re going to have to invest in or acquire customer engagement and personalization skills usually associated with online retailers and social networking sites, according to a new report out today from EY.

The report — Life Sciences 4.0: Securing value through data-driven platforms — quotes Johnson & Johnson CEO Alex Gorsky to indicate where things are going:  “Technology will touch everything that we do, whether it’s the way we use data to better understand the genome … or as it applies to things like minimally invasive surgery, even the way we talk to consumer vis-à-vis social media.”

Technology isn’t the only factor driving the change. Aging populations in the developed world mean that both public and private payers are tackling budgetary constraints and longstanding inefficiencies in healthcare systems.

In the medical device industry, companies are having to decide whether they are products companies selling to health providers or services companies focused on patients as a customer, according to the report’s author, Pamela Spence,  EY Global Life Sciences industry leader.

“I think companies need to decide what they want to be. … It’s hard to do both,” Spence said during an interview with our sister site Medical Design & Outsourcing.

Get the full story on MDO. 

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