BioSig Technologies Will Hire a Dozen As it Moves HQ to Minnesota, CEO Tells BioSpace

BioSig Technologies Will Hire a Dozen, Plus New Execs, As it Moves HQ to Minnesota, CEO Tells BioSpace
April 14, 2015
By Riley McDermid, Breaking News Sr. Editor

BioSig Technologies, a medical device company, will hire a dozen new people as it begins fully staffing its new headquarter location in Minneapolis, Minn., Chief Executive Officer Greg Cash told BioSpace on Tuesday, and will be adding new executives company-wide in 2015.

“Exact numbers may vary but we hope to hire about a dozen new employees,” Cash told us. “Job categories include sales, marketing, business development, controller, clinical support, field technicians, biomedical engineering, and administration. Growth of jobs will support the company's operating plans.”

Cash said BioSig will also be looking to add to its C-level suite in coming months, too. “We are close to hiring a vice president of regulatory, a director of administration, and a vice president of business strategy,” he said. “We are also planning to hire a head of marketing in late 2015.”

BioSig said this week that it had opened its second location and headquarters at 8441 Wayzata Boulevard, Golden Valley, Minn., a suburb of Minneapolis. The company said it will still maintain its existing office based in Los Angeles, Calif., which will be devoted to research and development.

“This will be a starter space and can accommodate 12 people,” said Cash. “However, we expect to outgrow the space and have the ability for the building owner to increase our footprint as necessary; this growth clause is part of our lease.”

BioSig Technologies is a medical device company that has developed a proprietary technology platform targeting the $3 billion electrophysiology (EP) marketplace. Analysts forecast the global market for EP devices will grow at a 12.1 percent annually, from $2.5 billion in 2012 to $5.5 billion by 2019--making it one of the fastest growing medical device segments.

That’s pushed BioSig to develop its management team, said the company Tuesday, including building out its ranks by hiring talent from competitors.

“Within the past month, Jay Millerhagen, our vice president of clinical affairs, joined us from Respicardia. Additionally, we recently brought Brian McLaughlin, vice president of corporate finance and investor relations on board,” Cash told BioSpace. “In the past, Mr. McLaughlin worked at J.P. Morgan and SAC Capital.”

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After last week's news that Gilead had issued a health advisory to doctors, concern is growing after nine patients taking Harvoni or Sovaldi along with another drug, amiodarone, were treated for abnormally slow heartbeats. One of the patients died of cardiac arrest. Three of the nine patients required a pacemaker. That has BioSpace asking, what next?

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