CereVasc Announces Appointments of New Directors

Rhea-AI Summary

CereVasc, a clinical-stage medical device company, has appointed Shlomi Nachman and Timothy Scannell to its Board of Directors, effective July 11, 2024. Nachman, former Company Group Chairman at Johnson & Johnson's Medical Devices sector, brings over 25 years of industry experience. Scannell, former President and COO of Stryker , has more than 30 years of leadership experience in medical technology.

Dan Levangie, CereVasc's Chairman and CEO, expressed excitement about leveraging their expertise to bring the eShunt System to market. Both appointees have extensive backgrounds in medical devices and neurovascular fields, with Nachman's experience in cardiovascular solutions and Scannell's success in MedSurg & Neurotechnology businesses.

Positive

• Appointment of two experienced medical device industry leaders to the Board of Directors
• New directors bring expertise in neurovascular and medical device fields
• Potential for improved market strategy and product development for the eShunt System

Negative

• None.

• Medical Device Leaders Shlomi Nachman and Timothy Scannell to join Board of Directors

BOSTON, July 16, 2024 /PRNewswire/ -- CereVasc, Inc., a clinical-stage, medical device company developing novel treatments for neurological diseases, today announced the following appointments to the Company's Board of Directors, effective July 11, 2024:

• Shlomi Nachman, former Company Group Chairman of Cardiovascular and Specialty Solutions and Vision Groups within Johnson & Johnson's Medical Devices sector
  
  
• Timothy Scannell, former President and Chief Operating Officer of Stryker

"We are excited to welcome Shlomi and Tim to the CereVasc Board," said Dan Levangie, Chairman and CEO. "They both bring a wealth of experience in the medical device and neurovascular fields and have distinguished careers in leading prominent medical device organizations. We look forward to leveraging their expertise and insights to bring the eShunt System to the market."

Mr. Nachman has over 25 years of experience in the medical device industry and is currently on the board of several medical device companies, as well as the Arnold and Mable Beckman Foundation, a foundation focused on supporting research in chemistry and life sciences. Previously, he held senior operating roles at Johnson & Johnson, where he was the Company Group Chairman of Cardiovascular and Specialty Solutions and Vision Groups within Johnson & Johnson's Medical Devices sector. Prior to that, Mr. Nachman had various roles with increased scope and responsibilities including Worldwide President of Biosense Webster and Cordis. He earned his Bachelor of Science in Management & Economics from the Israel Institute of Technology and a Diploma in Electrical Engineering from the Amal Technical School.

Mr. Scannell brings over 30 years of experience and success delivering market-leading results from his leadership roles at Stryker Corporation, one of the world's leading medical technology companies. Mr. Scannell served as President and Chief Operating Officer of Stryker between 2018 and 2021, overseeing all of Stryker's commercial businesses and regions globally. Prior to this, he served as group president for Stryker's MedSurg & Neurotechnology businesses for ten years. Mr. Scannell currently serves as a director and non-executive chairman of the Board of Directors for Insulet Corporation (Nasdaq: PODD) and is a director on the boards of Novocure (Nasdaq: NVCR), Synaptive Medical, Regenity Biosciences, and Molekule. Mr. Scannell holds a Bachelor of Business Administration and a Master of Business Administration from the University of Notre Dame. 

About CereVasc, Inc.
Located in Massachusetts' healthcare hub, CereVasc, Inc., is a clinical stage, medical device company focused on the development of novel, minimally invasive treatments for patients with neurological diseases. Its initial product, the eShunt System, encompasses first-ever, groundbreaking percutaneous transvenous-transdural access to the central nervous system intended to allow the first minimally invasive treatment for communicating hydrocephalus (CH), a potential improvement to the current standard of care. The eShunt device concept originated from Tufts Medical Center physicians Carl Heilman, MD, Neurosurgeon-in-Chief and Chair of Neurosurgery, and Adel Malek, MD, PhD, Chief of Neurovascular Surgery and Director of Endovascular Neurosurgery. The patented eShunt System includes an endovascularly implantable cerebral spinal fluid shunt and delivery components, which are designed to treat CH without invasive surgery. For additional information, please visit our website at www.cerevasc.com.

The eShunt^® Device is an investigational device and not available for sale within or outside the United States.

Company Contacts:
DJ Cass
CereVasc, Inc.
djcass@cerevasc.com

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SOURCE CereVasc

FAQ

Who are the new Board of Directors appointees for CereVasc?

CereVasc has appointed Shlomi Nachman, former Company Group Chairman at Johnson & Johnson's Medical Devices sector, and Timothy Scannell, former President and COO of Stryker , to its Board of Directors effective July 11, 2024.

What experience do the new CereVasc Board members bring?

Shlomi Nachman brings over 25 years of experience in the medical device industry, while Timothy Scannell has more than 30 years of leadership experience in medical technology, particularly in MedSurg & Neurotechnology businesses.

How might these appointments impact CereVasc's eShunt System development?

The new Board members' extensive experience in medical devices and neurovascular fields is expected to provide valuable expertise and insights to help bring CereVasc's eShunt System to market.

What is Timothy Scannell's current role at Insulet (PODD)?

Timothy Scannell currently serves as a director and non-executive chairman of the Board of Directors for Insulet (PODD).