Healthcare Industry News: Royal Philips
News Release - May 14, 2019
John Fletcher Named Strategic Advisor to Micro Medical SolutionsAs MMS prepares for approval of their pivotal clinical trial of the company's flagship MicroStent device, one of healthcare's top growth experts will help shape the company's future
WILMINGTON, Mass., May 14, 2019 -- (Healthcare Sales & Marketing Network) -- Micro Medical Solutions (MMS), an innovator in the field of microvascular interventions that improve clinical outcomes and quality of life, announced today that John Fletcher has signed on as a strategic advisor to the company's senior management. Mr. Fletcher is the founder and leader of healthcare consulting and venture capital activities at Fletcher Spaght, a strategy consulting firm focused on revenue growth and future growth potential.
"At this point in the growth and progress of MMS, when our flagship product, MicroStent, is soon to enter its first clinical trial, we are so pleased to welcome John Fletcher from Fletcher Spaght as an advisor to our team," said Micro Medical Solutions CEO Gregory Sullivan. "John has decades of experience and insights into developing effective growth solutions for healthcare companies, including devices for cardiovascular and endovascular disease. We're excited to draw on his knowledge as we advance our goals at MMS."
Mr. Fletcher brings more than 35 years of healthcare and medical device experience to MMS. He currently serves as CEO and Managing Director of Fletcher Spaght Inc., a strategy consulting and venture capital firm that he founded in 1983. Prior to founding Fletcher Spaght, he was Senior Manager at The Boston Consulting Group, advising a broad range of companies in healthcare and other high-technology industries.
Mr. Fletcher joined the Board of Directors of publicly traded medical device company Spectranetics Corporation in 2002 and served as Chairman of the Board from 2010-2017. During his 15-year tenure on the board, Spectranetics expanded its therapeutic platforms and generated significant commercial growth. In August 2017, Spectranetics was acquired by Royal Philips in a transaction valued at $2.2 billion. Mr. Fletcher was named 2019 Director of the Year by the National Association of Corporate Directors (NACD) for his work at Spectranetics.
"Micro Medical Solutions' MicroStent device has already demonstrated exciting value for patients with peripheral artery disease facing the devastation of below-the-knee amputations," Mr. Fletcher said. "As the approval process for this technology moves ahead, I'm looking forward to helping the company's high-level team bring MicroStent to patients in the U.S. and develop effective strategies for the future."
Mr. Fletcher currently serves on the Board of Directors of Axcelis Corporation, MRI Interventions and is Chairman of Metabolon. He is Chairman Emeritus of the Corporate Collaboration Council at the Thayer School of Engineering/Tuck School of Business at Dartmouth College and serves on the Board of Advisors of Beth Israel Deaconess Medical Center and the Whitehead Institute at MIT. Mr. Fletcher received his MBA from Southern Illinois University and a BBA in Marketing from George Washington University. He was an instructor for courses in international business and a Ph.D. Candidate at the Wharton School of the University of Pennsylvania. Mr. Fletcher served as a Captain and jet pilot in the United States Air Force.
Peripheral artery disease (PAD) and critical limb ischemia (CLI) affect millions each year. It has been estimated that nearly 25% of CLI patients will undergo major amputation,1 and amputations due to CLI continue to escalate.2
MicroStent is a vascular stent specifically designed to reduce below-the-knee amputations for CLI resulting from PAD. Last fall, MMS completed a 3-center, 15-patient feasibility study of MicroStent for end-stage CLI. MicroStent met the primary safety endpoint in all cases. Efficacy was 100% at 14 days. At 6 months, the stent was effective in 88.9% of cases, with an improvement of 4 or more levels of PAD classification – a significant change that prevented amputation. In 2019, MMS will initiate the first clinical trial for MicroStent.
1. Henry AJ, Hevelone ND, Belkin M, Nguyen LL. Socioeconomic and hospital-related predictors of amputation for critical limb ischemia. J Vasc Surg. 2011 Feb;53(2):330-9.e1.
2. Baser O, Verpillat P, Gabriel S, et al. Prevalence, incidence, and outcomes of critical limb ischemia in the US Medicare population. Vasc Dis Mgmt. 2013:10;E26-36.
About Micro Medical Solutions
Micro Medical Solutions is on a mission to provide solutions to some of the most pressing unmet needs in microvascular intervention by helping to significantly reduce the rate of amputations, improve clinical outcomes and patient quality of life, and minimize the financial and human costs associated with the treatment of peripheral artery disease and critical limb ischemia. For more about Micro Medical Solutions, visit www.micromedicalsolutions.net.
Source: Micro Medical Solutions
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