Toledo, Ohio, February 5, 2019 – VentureMed Group, Inc. a privately-held medical device company that develops and markets the FLEX Vessel Prep™ System to treat peripheral arterial disease (PAD) and stenoses of arteriovenous (AV) fistulas and grafts, announced today that J. Robert Paulson, Jr., has been appointed president and chief executive officer, and a member of the Company’s board of directors, effective January 1, 2019.
Gary Smith, the Company’s CEO since 2014, will continue to serve as a member of the senior leadership team.The FLEX Vessel Prep™ System is an innovative endovascular system, designed to deliver parallel, linear microincisions at a controlled-depth, to prepare diseased peripheral arteries for optimal treatment. The FLEX system provides acute luminal gain and increased vessel compliance which reduces the risk of flow-limiting dissections that require additional interventions.
“I am thrilled to be working with our team and physician partners to expand adoption of our FLEX VP™ System, to improve the treatment of peripheral arterial disease, and AV fistulas and grafts, in millions of patients around the world,” commented Mr. Paulson.
Mr. Paulson joins the VentureMed Group from NxThera, where he served as president, CEO and board director from 2009 until the company’s acquisition by Boston Scientific in 2018. NxThera developed and commercialized a novel convective water vapor energy technology platform to treat enlarged prostates and other endourology conditions.
Mr. Paulson previously served as president, CEO and board director of Restore Medical, where he led a successful initial public offering on NASDAQ in 2006 and an acquisition by Medtronic in 2008. Mr. Paulson was CFO and VP of global marketing for Endocardial Solutions, a NASDAQ intracardiac mapping and navigation company acquired by St. Jude Medical in 2005. Previously, Mr. Paulson served as Sr. VP/GM of the cochlear implant business at Advanced Bionics and served in several general management, corporate strategy and corporate development leadership roles at Medtronic.
“Bob brings tremendous knowledge and experience to the VentureMed Group, together with a strong track record of building successful teams and commercializing compelling new medical technologies,” said Alexander Schmitz, a partner at Endeavour Vision, Ltd., and a member of the Company’s board of directors. “We look forward to Bob’s contributions and leadership during this next phase of the Company’s growth. On behalf of the board of directors, I would like to thank Gary for his significant contributions, which have created a solid foundation for the future success of the VentureMed Group.”
About VentureMed Group, Inc.
Founded in 2012, the VentureMed Group develops and markets innovative endovascular medical devices for the treatment of peripheral arterial disease and stenoses of AV fistulas and grafts. The Company’s FLEX Vessel Prep System safely and effectively creates long, linear, parallel micro-incisions, to dilate stenoses in femoral and popliteal arteries to prepare the vessels for angioplasty and to restore access to AV fistulas and grafts. The FLEX VP System received CE Mark approval in November 2015 and 510(k) clearance from the US Food and Drug Administration in June 2016. For more information, visit www.FlexVesselPrep.com.
Media contact: Beth Bentley