Healthcare Industry News: microfluidics
News Release - July 16, 2008
Alverix Appoints James D. Merselis as President and CEOSeasoned CEO to Augment Organization, Drive Value and Partnerships for Clients, Transitioning Assays from the Central Lab to Patient Care Locations without Sacrificing Quality of Test Results
SAN JOSE, Calif.--(HSMN NewsFeed)--Alverix, Inc., an optoelectronics company developing portable medical diagnostic instruments in cooperation with leading point-of-care (POC) diagnostics companies, today announced the appointment of James D. Merselis as President and Chief Executive Officer. Merselis will also serve as a member of the Company’s board of directors.
“Alverix has a competitive advantage within the growing $5 billion POC marketplace,” said Gary J. Kurtzman, MD, Chairman of the Board of Alverix and Managing Director in the Life Sciences Group of Safeguard Scientifics, a provider of growth capital and operational support to entrepreneurial and innovative technology and life sciences companies. “We are delighted to have been able to attract an executive of Jim’s caliber to Alverix. Jim has a superior track record of building businesses and creating value. His extensive industry experience and expertise will be an asset to Alverix in achieving its fullest potential and ensuring that its innovative technology is fully and rapidly leveraged.”
Most recently, Merselis served as President and CEO of HemoSense, Inc. (AMEX: HEM ), a POC diagnostics company focused initially on providing patients and physicians with rapid test results to help manage the risk of stroke with the drug warfarin or Coumadin. HemoSense was acquired by Inverness Medical Innovations, Inc. (AMEX: IMA ) in late 2007 for $265 million. Prior to his tenure at HemoSense, Merselis served as President and CEO of Micronics, Inc., a microfluidics company that develops near patient in vitro diagnostic products for disease diagnosis, prognosis and treatment monitoring. In addition, he held a number of positions over twenty-two years with Boehringer Mannheim Diagnostics (now Roche Diagnostics).
“Alverix’s novel technology has the potential to revolutionize medical diagnostics and dramatically improve patient care by enabling more sensitive, affordable, immediate and accurate testing for almost any health condition, in nearly any setting,” said Jim Merselis, CEO of Alverix. “I am honored to join the Alverix team of seasoned engineers and talented scientists, many whose pedigree and experience comes from more than 30 years at Hewlett Packard, as well as the Company’s investors and advisors to drive value and build collaborations with corporate partners.”
Jim Merselis, along with other members from Alverix, will be attending the upcoming American Association for Clinical Chemistry conference in Washington, DC from July 27-31, 2008. The AACC is an international scientific / medical society of clinical laboratory professionals, physicians, research scientists and other individuals involved with clinical chemistry and related disciplines.
Alverix is a private optoelectronics technology company developing next-generation medical diagnostic products using its proprietary technology, combining its partners’ analytes with its imaging capabilities to provide rapid, accurate and portable diagnostics. Alverix was spun out from Avago Technologies, a leading supplier of analog interface components for communications, industrial and consumer applications, and is building upon a 30-year legacy with Agilent Technologies and Hewlett Packard in optical sensors, image processing, software and signal enhancement algorithms. Alverix is a portfolio company of Safeguard Scientifics, Inc. (NYSE:SFE ), a provider of growth capital and operational support to entrepreneurial and innovative technology and life sciences companies; and New Venture Partners LLC, the global venture capital firm dedicated to corporate technology spinouts that provides a bridge between technology corporations and traditional venture capital through its unique, hands-on approach. For more information about Alverix, please visit www.alverix.com.
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