EndoGastric Solutions Names Industry Veteran Skip Baldino CEO
SAN MATEO, Calif.--(BUSINESS WIRE)-- EndoGastric Solutions® (EGS), the leader in endoluminal reconstructive treatment for gastroesophageal reflux disease (GERD), announced today that industry veteran Skip Baldino has been named President and CEO. Mr. Baldino brings nearly three decades of healthcare experience to EGS, including four years as President, Americas for Given Imaging Ltd., a leader in gastrointestinal diagnostics and imaging that Covidien acquired for $860 million in March 2014.
“I’m thrilled to join EGS at this pivotal point in the company’s evolution,” Mr. Baldino said. “It’s clear that patients suffering from GERD need an option beyond palliative medication to mask the symptoms of the condition or invasive surgery to overcorrect the underlying cause. Based on the growing body of clinical evidence, I believe that the TIF® procedure has the potential to bridge that gap, providing a viable, much-needed treatment option for millions of GERD sufferers. I am excited to work with the team at EGS, and collaborate with the company’s customers and their respective societies to utilize the clinical evidence on TIF to further develop the market for endoscopic treatment of GERD.”
Prior to his four years at Given Imaging, Mr. Baldino served as a divisional Vice President for Abbott Laboratories for eight years, during which he held key commercial leadership roles in several Abbott divisions - diabetes care, diagnostics, medical products (corporate), hospital products (now known as Hospira), health systems and specialty products. His experience encompasses various key customer segments, as well as a wide range of product portfolios, product lifecycles, new product launches and integrations. Mr. Baldino graduated with a bachelor’s degree in Marketing from Philadelphia University.
“Skip is an ideal leader to help guide EGS in its mission to advance the field of endoluminal procedural techniques, and introduce an entirely new treatment paradigm for patients,” said Michael Kleine, Chairman of the Board, EndoGastric Solutions. “Through his experience at Given Imaging, he has a deep understanding of digestive diseases and the endoscopy market in the U.S. During his distinguished 26-year career at Abbott Laboratories, Mr. Baldino established an outstanding track record of consistent and high performing financial and organizational success.”
EGS recently released data showing that the TIF procedure can eliminate troublesome regurgitation and inflammation. The company will present additional data at the upcoming Digestive Disease Week®, which runs from May 3 to 6 in Chicago.
“As EGS continues to generate high quality clinical evidence on the TIF procedure, and innovate the EsophyX platform we’re excited to have Skip on board,” said Michael Carusi, EGS board member and General Partner of Advanced Technology Ventures. “The breadth and depth of his commercial experience, as well as his key relationships with surgeons and gastroenterologists, will be vital as the company continues to grow and expand the market for endoluminal procedures to treat GERD.”
About GERD
Gastroesophageal Reflux Disease (GERD) is a condition caused by anatomical changes where the muscle at the base of the esophagus relaxes between swallows, allowing corrosive stomach acid to wash back up into the esophagus. The stomach produces hydrochloric acid after a meal to aid in the digestion of food. The cells that line the stomach consists of protective mucus that protect it from erosion, but the lining of the esophagus does not share these resistant features and stomach acid can damage it.
GERD is the most common gastrointestinal-related diagnosis given by physicians during clinical visits in the U.S. It is estimated that pain and discomfort from acid reflux impacts over 23 million people two or more times per week in the U.S. The standard recommendations for symptomatic GERD patients include lifestyle changes (e.g. diet, scheduled eating times, and sleeping positions) and escalating doses of prescription medications for prolonged periods of time. Long-term, maximum dose usage of prescription medications has been linked to a variety of other health complications. Patients implement these recommendations trying to manage their symptoms and the quality of their lives becomes negatively impacted by these recommendations.
About EsophyX® and Transoral Incisionless Fundoplication (TIF®)
The EsophyX device was FDA cleared in 2007, and is commercially available in the United States. Inserted transorally with visual guidance from an endoscope, the EsophyX device is used in the TIF procedure to reconstruct the gastroesophageal valve (GEV), restoring its competency and reestablishing the barrier to reflux. The TIF procedure is a surgical solution that corrects the root cause of Gastroesophageal Reflux Disease (GERD). The TIF procedure is based on traditional surgical principles and offers similar effectiveness to a surgical repair with the safety profile of an incision-free approach. To date, more than 14,000 patients have been treated worldwide. For more information, visit www.GERDHelp.com.
About EndoGastric Solutions®
EndoGastric Solutions, Inc. (www.endogastricsolutions.com), headquartered in San Mateo, California, is a leader in the endoluminal treatment of digestive diseases. EGS’ mission is to combine the most advanced concepts in gastroenterology and surgery to develop products and procedures that address unmet needs in gastrointestinal diseases.
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Contact:
EndoGastric Solutions, Inc.
Josh DeFonzo, 650-578-5120
jdefonzo[at]endogastricsolutions[dot]com
or
Lazar Partners, LTD
Hollister Hovey, 646-871-8482 (direct)
hhovey[at]lazarpartners[dot]com
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