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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Pain-management firm SPR Therapeutics seeks to raise $20m

SPR Therapeutics has raised $8 million of a $20 million Series C round of funding that began Jan. 19, according to an SEC filing.

The Cleveland-based company’s Sprint peripheral nerve stimulation (PNS) system is FDA-cleared for both chronic and acute pain, including post-operative and post-traumatic pain. The product was launched in November 2018 for treating complex regional pain syndrome, a chronic pain condition affecting the limbs that can be caused by trauma, injury or surgery.

The company also recently announced that it has named Peter Staats, M.D., as its chief medical advisor. Staats brings nearly three decades of entrepreneurial experience in pain management and neuromodulation technology to the role, according to a company statement.

Staats has served as the president of the American Society of Interventional Pain Physicians, the North American Neuromodulation Society, the New Jersey Society of Interventional Pain Physicians, and the Southern Pain Society, and has co-edited or authored 10 textbooks on pain medicine and written nearly 300 articles, book chapters and abstracts on the diagnosis and management of complex pain problems.

Staats founded the Division of Pain Medicine at Johns Hopkins University School of Medicine in 1994 and served as its director for 10 years. He later was a founding partner in Premier Pain Centers in New Jersey, which recently merged with National Spine and Pain Centers.

Staats will provide advice and guidance to SPR in the areas of patient selection, clinical trial design, physician training, product enhancements, and reimbursement strategies, among others, the company said.

SPR Therapeutics said in October that it received $10 million from two new grants and a contract from the US Dept. of Defense, all to support its percutaneous peripheral nerve stimulation therapy intended as a non-opioid pain relief therapy for both acute and chronic pain.

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ReShape Lifesciences CEO Gladney to resign | Personnel Moves – January 29, 2019

ReShape Lifesciences CEO Gladney

ReShape Lifesciences (NSDQ:RSLS) said yesterday that its prez & CEO Dan Gladney will resign from his positions with the company, effective March 31.

Gladney will remain with the company as board chair, San Clemente, Calif.-based ReShape Lifesciences said.

The company’s board of directors said they will immediately begin to look for a replacement, according to an SEC filing.

 AliveCor CEO Gundotra steps away

AliveCor CEO Vic Gundotra is stepping away from his position at the head of the company, according to a recent CNBC report.

Gundotra, a former senior VP with Google, said it will remain active on AliveCor’s board as the Mountain View, Calif.-based company searches for an internal replacement, according to the report.

“I’m leaving the company in a position of strength,” Gundotra said, according to CNBC.

“We all love Vic. We sold hundreds of thousands of devices and continue to gain more traction, so all I can say is he did a great job,” founder & chief medical officer David Albert said, according to the report.

AliveCor has not yet officially commented on the leadership change.

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 Ahderium ousts CEO, CFO in major restructuring

New Zealand-based Adherium (ASK:ADR) has significantly downsized its workforce, including the exit of CEO Erik Anderson and CFO David Allinson, according to a New Zealand Herald report.

Former finance and business services VP Rob Turnbull will take up the position of GM and oversee the reorganization of the company, according to the report.

Alongside the exit of the execs, the company will also be slashing its general workforce by 80%, according to the NZ Herald.

“While the reduction in workforce is very regrettable, our focus remains to develop the company as has originally been planned. In meeting our customers’ commercial requirements, we will continue to develop leading solutions in our space, and in this our R&D activity will continue to be run from our Auckland office,” Turnbull told the Herald.

Turnbull said that the company would further explain its reorganization plans next month, according to the report.

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 Functional Neuromodulation lifts COO Langevin to the corner office

Functional Neuromodulation said this week said that it tapped current prez & COO Todd Langevin to succeed existing CEO Vincent Owens, effective January 25.

Prior to joining Functional Neuromodulation, Langevin held senior leadership roles at Medtronic and CVRx, including acting as VP and GM of Medtronic’s DBS movement disorders business and as the company’s neuromodulation European business director.

“Todd has been instrumental in leading the company through the ADvance I study, CE Mark approval, and IDE approval of the ADvance II pivotal study of DBS-f.  FNM’s investors, employees and I have great confidence in Todd’s leadership and we look forward to beginning enrollment in ADvance II,” Owens said in a press release.

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 AxoGen appointes Sandberg as CCO

AxoGen said last week that it appointed Eric Sandberg as its new chief commercial officer, replacing Jon Gingrich who is set to resign effective February 15.

Prior to his time with AxoGen, Sandberg held leadership roles at various medtech firms including Guidant, CardioDx, Tangent Medical and Boston Scientific, the Alachua, Fla.-based company said.

“We are excited to welcome Eric to our executive team; his breadth of commercialization experience and proven track record of execution will be invaluable as we introduce new applications and launch new products that expand and enhance our platform for nerve repair. Eric’s executive leadership will be instrumental as AxoGen continues to transform peripheral nerve repair and create a new standard of care,” prez & CEO Karen Zaderej said in a press release.

“AxoGen has an outstanding culture of innovation and excellence, and I look forward to building upon the company’s strong foundation. AxoGen has a tremendous opportunity to improve outcomes and quality of life for patients suffering the debilitating effects of peripheral nerve damage, across a growing range of applications. I am thrilled to join the Company at this critical and exciting time, as we pursue and develop these markets,” Sandberg said in a prepared statement.

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SPR Therapeutics touts first CRPS treatment with Sprint PNS

SPR Therapeutics

SPR Therapeutics said today that it launched its FDA-cleared Sprint Endura single-lead peripheral nerve stimulation system intended for treating complex regional pain syndrome.

Complex regional pain syndrome is a chronic pain condition affecting the limbs that can be caused by trauma, injury or surgery. The Cleveland-based company said that the device was used in its first commercial procedure by Dr. Marc Huntoon of VCU Medical Center.

“I have been treating complex regional pain syndrome, a condition known as CRPS, for nearly three decades. In my experience, patients suffering chronic pain benefit from early intervention with peripheral nerve stimulation. Now that there is a less invasive percutaneous option, PNS can more easily be deployed sooner in the care continuum. In my experience, this new method of peripheral nerve stimulation is generally safe, effective and minimally invasive,” Dr. Huntoon of VCU Medical Center’s outpatient Neuroscience, Orthopaedic and Welless Center said in a prepared statement.

The Sprint system is a minimally invasive peripheral nerve stimulation system intended for use early in the continuum of care, SPR Therapeutics said.

“We are pleased to see accelerated adoption of the latest version of our Sprint Peripheral Nerve Stimulation system following its recent FDA clearance. It is gratifying to see the Sprint system being prescribed earlier in the disease process for a broad range of pain disorders, including CRPS, due to our technology’s minimally invasive and patient-friendly features,” prez & CEO Maria Bennett said in a press release.

Early last month, SPR Therapeutics said that it received $10 million from two new grants and a contract from the US Dept. of Defense, all to support its percutaneous peripheral nerve stimulation therapy intended as a non-opioid pain relief therapy for both acute and chronic pain.

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SPR Therapeutics raises $25m to support Sprint PNS system

SPR Therapeutics said today it raised $25 million in a Series C round of financing to support commercialization and further research of its Sprint peripheral nerve stimulation system.

The round was led by a “prominent family office” and Frontcourt Ventures, the Cleveland-based company said. As part of the funding, the company said it appointed former West Health CEO Nick Valeri to its board of directors.

“The SPR Therapeutics leadership team is comprised of recognized experts in the neuromodulation and pain management industries. I am excited to support Maria and her talented team as they make this innovative, groundbreaking technology commercially available to millions of people seeking non-opioid relief of chronic and acute pain,” Valeriani said in a press release.

SPR Therapeutics said its Sprint PNS device is designed to offer a non-narcotic solution for the relief of chronic and acute pain, using a threadlike wire placed through the skin connected to a wearable stimulator to stimulate targeted nerve fibers for pain relief.

“The opioid crisis is personal to us at SPR, as our home state of Ohio has one of the highest drug overdose death rates in the nation. This funding will allow us to offer Sprint, a safe and effective pain-relief therapy, to more pain sufferers. Nick is an important addition to the SPR Board as he has deep expertise in successfully commercializing numerous, game-changing therapies.  He is a visionary in the field of health care and has often been ahead of the curve in identifying global healthcare trends,” prez & CEO Maria Bennett said in a prepared statement.

Last July, SPR said it won FDA 510(k) clearance for its Sprint peripheral nerve stimulation system designed to provide chronic pain relief.

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