Healthcare Industry News: AtriCure
News Release - April 6, 2015
VytronUS, Inc. Attracts Industry Veteran John Pavlidis as New President and Chief Executive OfficerBolsters high-quality management team with more than twenty-five years of highly relevant medical device experience and enhances highly accomplished Board of Directors
SUNNYVALE, Calif., April 6, 2015 -- (Healthcare Sales & Marketing Network) -- VytronUS, Inc. ("VytronUS"), a privately held medical device company developing novel technologies for the treatment of cardiac arrhythmias, announced today the appointment of John Pavlidis as its new president and chief executive officer and member of the Board of Directors. Pavlidis brings more than twenty-five years of medical device experience, including more than fifteen years as chief executive officer of large and small organizations.
"We are extremely enthusiastic to welcome John to the board of VytronUS and to support him in leading our company as CEO," said Justin Klein, MD, JD, member of the Board of Directors at VytronUS and Partner at New Enterprise Associates.
Sami Hamade, member of the Board of Directors at VytronUS and Partner at Apple Tree Partners, added: "As a proven medical device industry executive, John's deep experience in ultrasound-based technologies and atrial fibrillation solutions is perfectly matched to VytronUS's potential as a breakthrough solution for catheter ablation of atrial fibrillation."
"I am passionate about the potential of VytronUS to become the pioneer and leader in next-generation cardiac ablation technology and eager to lead the company to achieve its goals and objectives. The quality of the employees and management across multiple functional areas, the experienced and accomplished Board of Directors, and the recent completion of a $31 million financing, make me immensely excited about VytronUS," said Pavlidis. "The novel platform technology we are developing has the potential to be a new and disruptive modality in the treatment of atrial fibrillation, offering significant improvements in efficacy, safety, and utility compared to all other technologies on the market."
Prior to joining VytronUS, Pavlidis was president and chief executive officer of Endoscopic Technologies, Inc., a leader in minimally invasive and endoscopic cardiac ablation, valve repair or replacement, and coronary bypass surgical technology. Endoscopic Technologies was acquired by AtriCure, Inc., in late 2013. Previously, Pavlidis served as president and chief executive officer of R2 Technology, Inc., the pioneer and leader in computer-aided detection of breast cancer and lung abnormalities, until Hologic, Inc., acquired the company in 2006. Before joining R2 Technology, Pavlidis was the president of the ultrasound group at Siemens Healthcare for five years, where he led the acquisition and integration of Acuson, Inc., and subsequent growth to $1 billion in revenue.
The $31 million recent round of financing was led by Apple Tree Partners, along with additional new investors, BioStar Ventures, Windham Venture Partners, and a strategic investor alongside New Enterprise Associates and other existing investors. In addition to representatives of the major investors, Roy T. Tanaka serves on the Board of Directors as independent director. Mr. Tanaka previously served as worldwide president of Biosense Webster from 2004 through 2008, having joined Biosense Webster in 1997.
About Apple Tree Partners
Apple Tree Partners ("ATP") is a $1.67 billion venture capital firm dedicated to building healthcare businesses. ATP takes the long view as a matter of principle and for value creation. ATP is actively investing in medical devices, pharmaceuticals, biotech, and healthcare services.
About New Enterprise Associates
New Enterprise Associates ("NEA") is a leading venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors, and geographies. With over $13 billion in committed capital, the firm invests in information technology, healthcare, and energy technology companies at all stages in a company's lifecycle, from seed stage through IPO. NEA's long track record of successful investing includes more than 200 portfolio company IPOs and more than 320 acquisitions.
About BioStar Ventures
BioStar Ventures is a venture capital partnership to enhance and monetize the experience and knowledge of physician thought leaders in medical care and technology with successful and knowledgeable health care business leaders, and experienced venture capitalists to invest primarily in early stage medical device companies. BioStar Ventures' unique marriage of world-renowned clinicians with experienced venture capitalists and business leaders allows BioStar Ventures to capture unique deal flow and leverage decades of scientific knowledge, clinical expertise, and patient care delivery experience to benefit its investment process.
About Windham Venture Partners
Founded in 2006, Windham is a New York City-based venture capital firm focused on healthcare, with a particular emphasis on medical technology (devices and diagnostics) and digital health (the intersection of healthcare and information technology). Windham seeks to invest in and partner with companies that are commercializing game-changing technologies to serve unmet needs, improve the lives of large numbers of patients, and yield robust returns for its investors.
VytronUS, Inc., was founded to harness the elegant imaging and therapeutic capabilities of ultrasound energy to treat cardiac arrhythmias, starting with atrial fibrillation. The company is developing a catheter-based endocardial ablation platform based on Low-Intensity Collimated Ultrasound (LICU™). LICU is capable of quickly producing high-resolution maps of cardiac anatomy and allows for non-contact energy delivery to create durable continuous linear lesions. The VytronUS system is designed to enable physicians to treat complex arrhythmias with better flexibility, control, and ease of use.
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