FREMONT, Calif., Jan. 11, 2011 /PRNewswire/ -- ArKal Medical Inc., the developer of a new continuous glucose monitoring system, today announced the appointment of Mark Lortz to its Board of Directors.
Mr. Lortz served as the Chairman, President and Chief Executive Officer of TheraSense until its acquisition by Abbott Laboratories in June of 2004. Prior to TheraSense, Mr. Lortz held several positions at LifeScan, including Vice President, Operations and Group Vice President, Worldwide Business Operations. He also has 18 years of experience with the General Electric Company in several divisions. In addition, Mr. Lortz is a member of the Board of Directors of several public and privately held companies. Mr. Lortz holds an M.B.A. in Management from Xavier University and a B.S. in Engineering Science from Iowa State University.
Commenting on the announcement, Arvind N. Jina, Ph.D., President and Chief Executive Officer of ArKal Medical said, "We are pleased to have Mark join our board with his strong background in diabetes. Mark played a critical role in the successful development and launch of major new products at TheraSense and LifeScan, and we are looking forward to his experience and leadership in commercializing products."
About ArKal Medical:
ArKal Medical, a privately held venture capital-backed medical device company is developing a next generation continuous glucose monitoring system for the management of diabetes. ArKal Medical's monitoring system is designed to reduce many of the inconveniences of current continuous glucose monitoring systems.
About the Investors:
Delphi Ventures is a venture capital firm that has focused on early stage investing in medical devices and biotechnology for two decades. With more than $1.1 billion in committed capital, Delphi Ventures has funded over 150 companies. More than 100 of Delphi's portfolio companies have either completed an initial public offering or have been acquired by a leading healthcare corporation. For more information, visit http://www.delphiventures.com.
MedVenture Associates, founded in 1986, identifies and invests in new medical technologies and the entrepreneurs developing them to create the next generation of medical practice. For more information, visit http://www.medven.com.
Thomas, McNerney & Partners is a health care venture capital firm with approximately $600 million under management focused on investing in life science and medical technology companies at all stages of development. In addition to helping entrepreneurs launch companies with seed and early stage funding, the firm provides growth capital to emerging companies to advance clinical development or for product commercialization. The firm has offices on the East Coast, Midwest and on the West Coast, Minneapolis and San Francisco. For more information, please visit http://www.tm-partners.com.
SOURCE ArKal Medical Inc.