Angel Medical Systems, Creator of the Guardian™, First Implantable Cardiac Alert System, Changes Name to Avertix Medical Inc. and Welcomes New CEO and CFO to Drive Continued Growth and Success
27 Aprile 2023 - 2:30PM
Angel Medical Systems Inc. (dba AngelMed), a company focused on
improving long-term management of high-risk coronary disease in
patients who have survived one or more heart attacks, today
announced it has changed its corporate name to
Avertix
Medical Inc. (Avertix), and appointed Tim Moran as
President and Chief Executive Officer and Philip Tom as Executive
Vice President and Chief Financial Officer, effective immediately.
Ross Haghighat continues to serve as Executive Chairman of the
company.
The changes come as the company celebrates
recent successes and accelerates its growth and innovation of its
Guardian™ product family, the first and only early cardiac
monitoring and alerting device to detect acute coronary syndrome
(ACS) events. The system is unique in its ability to detect
potential ACS events, including silent heart attacks, when a person
has no symptoms, and alerts the patient to seek urgent medical
attention, thereby reducing critical delays prior to treatment.
Door-to-door times for Guardian™ patients are nearly eight times
faster than patients who do not use the implantable device.i
The name change reflects the company's
commitment to continue providing the Guardian™ to patients around
the world, delivering substantial clinical improvement for the
management of recurrent ACS events in high-risk patients. The new
name, Avertix, was chosen as it elicits the concept of averting
serious cardiac complications and better represents the company’s
commitment to empowering patients who have had prior ACS events and
their healthcare providers with state-of-the-art technology for
early cardiac monitoring and alerting detection of ACS events,
including heart attacks.
Mr. Moran brings over 26 years of leadership
experience in the medical technology industry to his new role as
CEO of Avertix. Previously, he served as CEO of Motus GI (NASDAQ:
MOTS), a medical device company that provides innovative endoscopic
solutions for the diagnosis and management of gastrointestinal
conditions. Moran’s strong track record of leading the evolution of
a company from clinical product development through
commercialization, and experience successfully navigating multiple
FDA clearances, CE marks and global expansion, will be invaluable
to Avertix as the company continues to grow and expand its market
share. Earlier in his career, Mr. Moran spent almost two decades in
broad operating roles at Covidien and Medtronic. He holds a B.A.
from State University of New York, Geneseo.
"I am truly honored and excited to join Avertix
as CEO at this pivotal time in the company's journey. Coronary
heart disease remains the leading cause of death globally, and the
Guardian™ is a groundbreaking device that has the potential to
transform the lives of countless patients who have survived heart
attacks and continue to face high-risk coronary conditions,” Mr.
Moran said. “I am committed to working tirelessly with our
passionate team to bring this life-saving innovation to more
patients and in making a profound impact on the long-term
management of coronary disease."
In addition, Mr. Tom has joined the executive
team as the Chief Financial Officer. He has extensive experience in
finance as an investor, advisor and operator, having held
leadership roles at Explorer Acquisitions and as CFO for Hudson MX,
an ad-tech, cloud-based SaaS media solution for commercial
advertising. Previously, Mr. Tom was a Principal at Explorer
Acquisitions, playing a crucial role in multiple successful SPAC
transactions and sat on the investment team at Insight Partners,
the global private equity firm based in New York. He holds a
B.A. from Stanford University and started his career in investment
banking at Credit Suisse in New York.
"I am incredibly excited to join Avertix as its
new CFO during this important stage of growth," Mr. Tom said. "The
mission and impacts of Avertix are compelling and necessary in
today's healthcare landscape. My goal is to ensure that Avertix
remains well-positioned financially so the company can continue its
work improving the lives of people managing coronary disease."
The company’s commercial transformation
commenced with the appointment of Mr. Haghighat, a veteran private
and public company senior executive and investor, as the company’s
Executive Chairman late last year. Haghighat is a serial
entrepreneur, Board member, and a venture capitalist, with three
decades of experience as founder or co-founder of a dozen
companies. He built global businesses in the U.S., Europe, Middle
East and Australia, both private and public. In his capacity as
Executive Chairman at Avertix, the company has pivoted to a
commercial stage enterprise, attracting top tier talent to lead the
company’s next phase of growth.
“This is an exciting time to welcome in new
leadership as Avertix is poised to evolve, with its differentiated
technology, while remaining committed to our vision of improving
the standard of cardiac care with our first mover advantage,” Mr.
Haghighat said. “I’m proud to be part of this important work and am
focused on partnering with Tim and Phil to expand our team, as we
advance commercialization of the Guardian™, ensuring millions of
patients worldwide can benefit from our state-of-the-art
solution.”
About The Guardian™
System The Guardian device is implanted
subcutaneously by a cardiologist or electrophysiologist during a
low-risk, outpatient surgical procedure. The Guardian’s proprietary
algorithm uses machine learning to establish a patient’s baseline,
then continuously records the heart's electrical activity, 24/7,
detecting and alerting for shifts in the ST segment, indicative of
heart attacks. The Guardian device provides a more effective
diagnosis of a life-threatening event when compared to patient
symptoms alone.ii
About Avertix Avertix is a
cutting-edge medical device company offering the world’s first and
only FDA-approved Class III implantable device for detecting ACS
events, including silent and atypical symptomatic heart attacks, in
real time. Avertix maintains a robust portfolio of U.S. patents
pertaining to the detection of Acute Coronary Syndrome (ACS)
events.
Statements made in this press release that look
forward in time or that express beliefs, expectations or hopes
regarding future occurrences or anticipated outcomes or benefits,
are forward-looking statements. A number of risks and
uncertainties, such as risks associated with product development
and commercialization efforts, results of clinical trials, ultimate
clinical outcomes and benefit of the company’s products to
patients, market and physician acceptance of the products,
intellectual property protection and competitive product offerings,
could cause actual events to adversely differ from the expectations
indicated in these forward-looking statements.
Media Contact:Media@avertix.com
i David R. Holmes, Mitchell W. Krucoff, Chris Mullin, Ghiath
Mikdadi, Dale Presser, David Wohns, Andrew Kaplan, Allen Ciuffo,
Arthur L. Eberly, Bruce Iteld, David R. Fischell, Tim Fischell,
David Keenan, M. Sasha John, C. Michael Gibson, Implanted Monitor
Alerting to Reduce Treatment Delay in Patients With Acute Coronary
Syndrome Events, Journal of the American College of Cardiology,
Volume 74, Issue 16, 2019, Pages 2047-2055,
https://doi.org/10.1016/j.jacc.2019.07.084.ii Food and Drug
Administration Website. Summary of Safety and Effectiveness Data.
https://www.fda.gov/media/96475/download. Accessed April 10,
2023
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