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TransMed7 Announces Jack Cumming As Director



7/24/2017 8:03:50 AM

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PORTOLA VALLEY, Calif.--(BUSINESS WIRE)--TransMed7, LLC, today announced the appointment of industry veteran, Jack Cumming as a member of its Board of Directors. Mr. Cumming currently serves as CEO & Managing Director of Cumming & Associates, LLC, a strategic advisory firm formed in 2014, to exclusively serve the healthcare industry.

“Jack’s unique depth of industry knowledge and proven success will help us advance our business as we bring to market medical technology which addresses patient needs from diagnosis to therapy.”

Prior to launching Cumming & Associates, Mr. Cumming spent fourteen years at Hologic, Inc., a publicly listed NASDAQ company. He joined Hologic in August 2000 as Senior Vice President and President of Lorad, a Hologic company. Mr. Cumming was promoted to President & CEO in 2001 and later assumed the role as Chairman. He stepped down as Chairman in September of 2011 to serve as Global Strategic Advisor with a focus on expanding Hologic’s international presence, but in July of 2013 the Board of Directors asked Mr. Cumming to reassume the role of President & CEO with the express direction of restructuring the company. Mr. Cumming formally retired from Hologic in December of 2013.

Under Mr. Cumming’s leadership of Hologic, starting in 2001, Hologic’s market capitalization increased from $78 million to over $10 billion while revenues grew from approximately $100 million to over $2.5 billion. Moreover, during this time period, the company acquired over a dozen companies whose products harmonized their women’s health care portfolio. Hologic achieved an unprecedented market share leadership position in nine categories spanning Breast Health, Diagnostics and Surgical. Mr. Cumming directly attributes this achievement to the entire Hologic team whose passionate, dedicated and unwavering belief in making a difference in the lives of women differentiated them from their competitors. In 2007, Frost & Sullivan named Mr. Cumming CEO of the Year. In 2011, Mr. Cumming was named recipient of the 2011 National Consortium of Breast Centers Inspiration Award winner.

“Jack’s proven leadership and extreme business acumen immediately expand TransMed7’s strategic options for rapid deployment of our transformational technologies into the market,” said Eugene H. Vetter, TransMed7’s Co-Founder and CEO. TransMed7’s President, Dr. Edgar D. Staren stated that, “Jack’s unique depth of industry knowledge and proven success will help us advance our business as we bring to market medical technology which addresses patient needs from diagnosis to therapy.”

Prior to joining Hologic, Mr. Cumming served as President and Managing Director of HealthCare Markets Group (HCMG), a strategic advisory and investment-banking firm he founded in 1984. In his capacity as Managing Director of HCMG, the firm completed over $2.0 billion in transactions. Mr. Cumming is Trustee of Counsel at Bentley University and Mr. Cumming is also a member of the Luther Rice Society of The George Washington University. He joined the Board of T2 BioSystems in 2014 and serves on its corporate governance and nominating committees. Mr. Cumming also serves a member of the Finance Committee for the Radiological Society of America. Mr. Cumming and his wife Pamela are active in the Cumming Family Foundation which was established to fund projects primarily focused on health issues for women and children globally.

Mr. Cumming stated, “I am delighted to join the TransMed7 Board, because I view their products as transformational, having the breadth of scope and runway of potential applications to multiple diseases, including breast tissue biopsy and excision, bone marrow biopsy and aspiration, cardiovascular intervention, endoscopy, laparoscopy, and others. TransMed7’s multiple, worldwide, and interlocking patent coverage of all aspects of its next generation minimal access medical technology position it to provide highly reliable, multi-use devices that are cost-effective and built to ensure ease of use by clinicians and enhanced access for patients.”

According to Dr. James W. Vetter, TransMed7’s Co-Founder and Chairman, “Jack’s exceptional leadership and management experience will continue to be instrumental in formulating our strategic direction as we advance TransMed7’s prime objective of improving each patient’s treatment, care and quality of life through delivery of our innovative pipeline of transformational medical devices.”

About TransMed7, LLC

TransMed7, LLC is a medical and technology based organization focused on the highly efficient development of innovative, minimally invasive medical devices aimed at providing new solutions for doctors and their patients. With particular expertise in both oncologic and cardiovascular disease, TransMed7 and its team of clinicians, scientists, and engineers have developed a portfolio of next-generation platform devices that are expected to be market leaders in their targeted fields of medicine. TransMed7 accomplishes this through application of a wholly new approach in its business plan and structure, enabling these new transformational technologies from rapid development through commercial manufacturing or where appropriate, handoff to our Strategic Partners. For more information about TransMed7, please visit our website at www.transmed7.com.

Contacts

TransMed7, LLC
Jonathan J. Coyne
Vice President Administration
jcoyne@transmed7.com
www.transmed7.com


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