Healthcare Industry News: Baxter International
News Release - January 25, 2010
PolyTouch Medical Ltd. Announces The Appointment of William Edelman as Chairman of the BoardMISGAV, Israel, January 25 -- (Healthcare Sales & Marketing Network) -- PolyTouch Medical Ltd., a leading developer of hernia mesh placement technologies today announced that it has appointed William (Bill) Edelman as Chairman.
Mr. Edelman brings over 32 years of experience in various executive positions in the medical device industry, most recently as President & Chief Executive Officer, TYRX, Inc. While with TYRX, Mr. Edelman was responsible for strategic planning, business development and general management. Mr. Edelman led the development, FDA clearance and commercialization in over 6,600 patients of AIGIS, a drug releasing implant which combats infection in pacemaker and implanted defibrillator patients. During his tenure, Mr. Edelman raised $27MM in venture financing, $5.5MM equity financing from Boston Scientific and $7MM in strategic partner payments. Prior to TYRX, Mr. Edelman has held executive level positions at MicroSense International, LLC (bio-sensing), FibraSonics, Inc. (ultrasonic surgical products), NeuroMod, Inc. (neuro-stimulation technologies), St. Jude Medical, Inc. (NYSE: STJ), Pfizer, Inc. (NYSE: PFE), and Baxter International, Inc. (NYSE: BAX). Mr. Edelman graduated with a degree in Biomedical Engineering from Rensselaer Polytechnic Institute. He has been issued 15 U.S. patents and is an applicant on 3 additional pending patent applications.
"William's deep experience in the medical device industry and his outstanding track record of fundraising, product development and commercialization is uniquely suited to PolyTouch Medical. I am delighted to have Bill on our Board; his leadership and experience will lead PolyTouch to further success" remarked Ofek Levin, Founder and CEO for PolyTouch Medical.
Mr. Edelman commented, "I am excited to join PolyTouch Medical Board to support shaping the business development strategy and Management's development efforts. PolyTouch's technology is unique and has the potential to revolutionize hernia repair procedures. I look forward to working with an impressive team focused on development and commercialization of products that address important and unmet clinical needs."
About PolyTouch Medical Ltd.
PolyTouch Medical was founded in March 2009 and located in Misgav Venture Accelerator, Israel. Realizing the need for an improved method for mesh deployment and placement, PolyTouch has developed PatchAssist, a novel mesh deployment and placement device targeting initially, for laparoscopic ventral hernia repair (LVHR),. PatchAssist enables accurate abdominal cavity mesh placement potentially reducing procedure time by 30%-50%. The company plans to introduce PatchAssist to the US market in the first half of 2011.
Source: PolyTouch Medical
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