Healthcare Industry News: DePuy
News Release - October 27, 2008
Medingo Appoints Pete Wehrly as President and Chief Executive Officer and Establishes US-based OperationsYOKNEAM, Israel--(HSMN NewsFeed)--Medingo, a developer of a miniature insulin dispenser, today announced that it has appointed Pete Wehrly as President and Chief Executive Officer of the Company, effective November 2, 2008. Mr. Wehrly, an experienced and successful medical device industry executive, previously served as Medtronic's Senior Vice-President and President of Medtronic's Spinal & Biologics Division. Furthermore, the Company announced that it is setting up its US-based operations. Mr. Wehrly will be replacing Dr. Ofer Yodfat, who will continue to serve as General Manager, Medingo Israel.
Mr. Wehrly has a strong track record of over 20 years in the medical device industry, most recently as Senior Vice-President of Medtronic's and President of Medtronic's Spinal & Biologics Division. During his tenure at Medtronic, Mr. Wehrly held various executive roles including President of Medtronic Sofamor Danek, President of U.S. Sales & Biologics, and President of Interbody-Orthopedic Technologies. Prior to joining Medtronic, Mr. Wehrly held various senior executive roles in DePuy (acquired by Johnson & Johnson).
In addition, the Company also announced that Ms. Kim Stebbings has been appointed VP Marketing of Medingo. Ms. Stebbings has over 20 years of experience as a Sales and Marketing executive in the medical device industry with specialties in diabetes products and in vitro diagnostics, as well as expertise in novel medical device and diagnostic product launches. Ms. Stebbings was most recently Vice-President of Sales and Marketing at Anodyne Therapy, prior to which she held various executive positions in DiabetesManger.com, Thermo BioStar and Boehringer Mannheim Diagnostics (now Roche).
"We are very pleased to have such a seasoned executive as Mr. Wehrly join us as President and CEO, contributing from his broad experience to establish our new US operations and prepare the Company for the launch of its first innovative commercial product. We look forward to building together a leading, global company with the sound foundations for rapid future growth" commented Dr. Zvika Slovin, Vice-Chairman of Medingo. "I would also like to take this opportunity to express our gratitude to Dr. Ofer Yodfat, founder of Medingo, who has led the Company through the initial development stage of its unique technology to where it stands today. I am pleased to say that Ofer will continue to lead the Company's technological development as General Manager of Medingo Israel".
"I am very excited to be joining Medingo," added Mr. Wehrly. "The Company has developed innovative solutions for the needs of insulin-dependent patients with the potential of enhancing their quality of life. I look forward to working with the talented team to expand the opportunities for Medingo and to pave the way for the development of the next-generation technologies for diabetic patients".
Medingo caters specifically for the needs of insulin-dependent diabetic patients. The company develops miniature insulin dispensing patch pump that is discreet, has no tubing, and can be remotely controlled. The technology may serve as a platform for other applications including glucose sensing and pain control.
Medingo's Israeli headquarters are located in Yokneam, and its major shareholders are Elron Electronic Industries Ltd. (NASDAQ & TASE: ELRN) and RDC Rafael Development Corporation, Ltd. For more information, please visit www.medingo.com
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