Healthcare Industry News: MRIdian
News Release - October 2, 2018
ViewRay Appoints Industry Veteran James Alecxih as Chief Commercial OfficerMr. Alecxih to Lead Company's Commercial Expansion
CLEVELAND, Oct. 2, 2018 -- (Healthcare Sales & Marketing Network) -- ViewRay, Inc. (Nasdaq: VRAY), maker of the MRIdian, which combines MRI and external-beam radiation therapy to simultaneously image and treat cancer patients, today announced the appointment of James "Jim" Alecxih as Chief Commercial Officer, effective September 17th, 2018. Mr. Alecxih joins the ViewRay leadership team with extensive experience in commercializing new and innovative devices globally and will be responsible for driving the Company's commercial expansion.
Prior to joining ViewRay, Mr. Alecxih served as Vice President of Worldwide Sales at Nevro, where he led the high-growth neuromodulation device company's commercial efforts across multiple geographies. Mr. Alecxih also spent 14 years at Intuitive Surgical, where he served most recently as Senior Vice President of Sales for North America, South America, Australia and New Zealand. At Intuitive Surgical, Jim was integral in driving sales from $9 million annually to more than $1.8 billion annually and coordinated the overall marketing strategy through four product launches and domestic and international expansion.
Earlier in his career, Mr. Alecxih held a variety of sales management roles at Johnson & Johnson's Ethicon Endo-Surgery. He holds a Bachelor of Arts degree in Business from Le Tourneau University.
"We are excited to welcome Jim as our Chief Commercial Officer as we drive the commercial adoption of the MRIdian system," said Scott Drake, President and Chief Executive Officer of ViewRay. "We are committed to extending our leadership position in the market. Jim's proven track record and relevant experience complement our strategic plans and help drive our ambitious growth goals."
As an inducement material to Mr. Alecxih's entering into employment with ViewRay, ViewRay has agreed to grant Mr. Alecxih a total of 275,000 stock options, effective October 15, 2018. This award will be granted in accordance with Nasdaq Listing Rule 5635(c)(4), has been approved by the Compensation Committee of ViewRay's Board of Directors and will be subject to the terms and conditions of ViewRay's 2015 Stock Incentive Plan and Mr. Alecxih's award agreement. These terms will include a service-based vesting requirement, with the stock options vesting over four years. The options will have an exercise price equal to the closing trading price of ViewRay's common stock on the effective date.
ViewRay®, Inc. (Nasdaq: VRAY), designs, manufactures and markets the MRIdian® radiation therapy system. MRIdian is built upon a proprietary high-definition MR imaging system designed from the ground up to address the unique challenges and clinical workflow for advanced radiation oncology helping to transform radiation therapy, resulting in improved treatment outcomes that benefit both patients and health care systems around the world. Unlike MR systems used in diagnostic radiology, MRIdian's high-definition MR was purposely built to deliver high-precision radiation without unnecessary beam distortion, and consequently, help to mitigate skin toxicity and other safety concerns that may otherwise arise when high magnetic fields interact with radiation beams. ViewRay and MRIdian are registered trademarks of ViewRay, Inc.
Forward Looking Statements
This press release contains forward-looking statements. Statements in this press release that are not purely historical are forward-looking statements. These forward-looking statements are made as of the date of this press release, and ViewRay assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law. Investors should consult all of the information set forth herein and should also refer to the risk factor disclosure set forth in the reports and other documents ViewRay files with the SEC available at www.sec.gov, including the risk factors disclosed in ViewRay's Quarterly Report on Form 10-Q for the quarter ended June 30, 2018.
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