CVRx Expands Board with New Appointments for Growth
CVRx Welcomes New Board Members to Enhance Leadership
CVRx, Inc. (NASDAQ: CVRX), a pioneering medical device company, has recently announced exciting changes to its Board of Directors. The board will be welcoming Kevin Ballinger and Mitch Hill, effective immediately. These appointments aim to bolster the leadership team as the company continues its commitment to innovative healthcare solutions. Following these changes, the Board features seven dedicated members.
New Appointments Bring Vast Experience
Kevin Hykes, the President and CEO of CVRx, expressed enthusiasm about the new additions to the board. He stated, "We are thrilled to welcome Kevin and Mitch to our Board of Directors. Their extensive experience in the medical device industry, coupled with their strong track records driving growth and innovation, will be invaluable as we continue to expand the adoption of our Barostim therapy." Hykes highlighted how Kevin’s profound knowledge in interventional cardiology and Mitch’s financial expertise in high-growth healthcare settings resonate with the company’s strategic goals.
Kevin Ballinger’s Background and Contributions
Kevin Ballinger joins the CVRx board with a remarkable portfolio, bringing over 25 years of experience in the medical device industry. Most recently, he served as the CEO of Aldevron, LLC, overseeing its growth and successful acquisition by Danaher Corporation. His tenure at Boston Scientific Corporation further sharpened his leadership skills, where he worked in various roles including Executive Vice President and Global President of Interventional Cardiology. Ballinger’s deep understanding of product development and strategic planning is expected to greatly benefit CVRx’s mission in the cardiovascular domain. His experience extends to serving on the boards of Silk Road Medical, Inc. and previously Shockwave Medical, Inc., adding further value to his role.
Mitch Hill's Financial Expertise
Mitch Hill brings over 30 years of diverse financial and operational experience, particularly in healthcare and technology. He is transitioning from his role as Chief Financial Officer at Inari Medical, Inc., marking a significant chapter in his career as he led the company through its initial public offering and accelerated growth. His prior executive roles at Cameron Health, Inc. and Visiogen Inc., which were acquired during his tenure, showcase Hill’s ability to navigate companies through transformative periods. His additional experience at Walt Disney Imagineering and Disney Development Co. demonstrates his versatile leadership capabilities.
Gratitude for Ali Behbahani’s Service
Alongside the new appointments, the company announced the departure of Ali Behbahani, a long-standing board member since 2013. Hykes acknowledged Behbahani’s invaluable contributions, stating, "On behalf of CVRx and the Board of Directors, I would like to thank Ali for his tireless support of the company throughout much of our long history. His expertise has been pivotal in the development and commercialization of the Barostim therapy, positively impacting countless patients facing heart failure."
About CVRx, Inc.
CVRx is dedicated to advancing medical technology, particularly through the Barostim™ System, recognized as the first FDA-approved device utilizing neuromodulation to alleviate heart failure symptoms. This implantable device transmits electrical pulses to baroreceptors in the carotid artery, initiating a natural autonomic response that restores balance in the nervous system. The Barostim therapy has garnered the FDA Breakthrough Device designation and is approved for use in the U.S., also receiving recognition in Europe for its efficacy in treating heart failure and resistant hypertension.
Investor and Media Contact Information
For any investor-related inquiries, reach out to Mark Klausner or Mike Vallie at ICR Westwicke by calling 443-213-0501 or emailing ir@cvrx.com. Media inquiries can be addressed to Laura O’Neill at Finn Partners by calling 402-499-8203 or emailing laura.oneill@finnpartners.com.
Frequently Asked Questions
Who are the new members appointed to CVRx's Board of Directors?
Kevin Ballinger and Mitch Hill have been appointed to CVRx's Board of Directors.
What is the significance of the Barostim therapy?
The Barostim therapy is a groundbreaking treatment for heart failure, utilizing neuromodulation to restore balance in the autonomic nervous system.
How long has Ali Behbahani served on the board of CVRx?
Ali Behbahani has served on the board since 2013 before his recent departure.
What experience does Kevin Ballinger bring to CVRx?
Kevin Ballinger brings over 25 years of extensive experience in the medical device industry and strategic leadership roles.
How can I contact CVRx for investment inquiries?
Investors can contact Mark Klausner or Mike Vallie at ICR Westwicke by calling 443-213-0501 or emailing ir@cvrx.com.
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