MOUNTAIN VIEW, CA--(Marketwire - November 07, 2011) - Vascular Dynamics, Inc. (VDI), a medical device company developing an innovative new treatment for refractive hypertension, today announced that its Board of Directors has named Robert A. Stern, age 54, to serve as the company's President and Chief Executive Officer and a member of its board of directors.
Mr. Stern brings to VDI more than 20 years of experience leading and growing a range of medical device and biotechnology companies. Most recently he served as President of Micrus Endovascular, a global medical device company focused on the treatment of hemorrhagic and ischemic stroke that was acquired by Johnson & Johnson in October 2010. Prior to Micrus, Mr. Stern served as President and Chief Executive Officer of Context Connect, a wireless technology company; as Executive Vice President and Chief Financial Officer of Qixel Capital Corporation, an internet holding company; and as Vice President and Chief Financial Officer of InnerDyne Inc., a surgical access and biotechnology company.
"The Board of Vascular Dynamics was uniformly impressed with Bob's proven ability to develop and lead top-performing teams, his personal integrity and his track record for innovation," said Efi Cohen-Arazi, CEO of Rainbow Medical and Chairman of the Board for VDI. "Bob has demonstrated these skills by building a number of medical device companies with unique and disruptive technologies. In addition, he developed strong organizations that delivered consistent double-digit revenue growth and monetized their technology platform, as evidenced most recently by the successful exit of Micrus Endovascular."
Mr. Stern stated, "We have a tremendous opportunity to build on the core work that was done by a talented team based in Israel over the past three years. Their work has provided VDI with a technology platform that we believe can provide clinicians with a simple, easy-to-deliver solution for the treatment of refractive hypertension. Importantly, we face a significant market opportunity that has limited treatment options."
Mr. Stern received a BS from the University of New Hampshire, Whittemore School of Business and Economics, and an MBA from the University of New Mexico, Anderson School of Management.
About Vascular Dynamics, Inc.
Vascular Dynamics, Inc. was founded in 2008 by Rainbow Medical. The company focus is to provide safe, minimally invasive solutions for the treatment of refractive or resistant hypertension. Resistant hypertension is high blood pressure that does not respond to standard treatment. Hypertension is defined as systolic blood pressure over 140 mmHg or diastolic blood pressure over 90 mmHg. For every 20 mmHg rise in systolic blood pressure, the risk for cardiovascular disease doubles. Approximately 75 million people in the U.S. have hypertension, and more than five million are resistant to drug therapy.
The company has developed a patent-protected Nitinol implant delivered bilaterally by catheter to the carotid sinus that increases the signaling seen by the surrounding arterial baroreceptors. Baroreceptors are a type of mechanoreceptor that detect the pressure of blood flowing through them, and can send messages to the central nervous system to increase or decrease total peripheral resistance and cardiac output.
About Rainbow Medical
Rainbow Medical is a privately owned, leading Israeli med-tech operational investment group (www.rainbowmd.com). Rainbow Medical incubates medical device companies based on breakthrough technologies in a range of medical indications addressing today's most urgent, unmet, market needs.