Velentium Strengthens Leadership to Drive Future Innovations

Velentium Embraces New Leadership Dynamics

Recently, Velentium, a prominent medical contract design and manufacturing organization focusing on active implantable medical devices, has taken significant steps by announcing leadership transitions aimed at supporting its ongoing growth strategy. The company appointed Matt Hanks as its new Chief Executive Officer, moving up from his previous role as Chief Operating Officer. This change comes as Dan Purvis, the co-founder and former CEO, takes on the role of Board Chair.

Matt Hanks: A New Era of Leadership

Matt Hanks joined Velentium this year, bringing with him over three decades of operational experience and expertise in driving strategic growth and enhancing operational efficiencies. His background includes a successful tenure at various leading organizations where he honed his skills in supply chain management, operations, and information technology. This extensive experience equips him with the necessary tools to lead Velentium into its future.

Vision for the Future

Upon his appointment, Hanks expressed his admiration for the rapid innovation and growth that Velentium has undergone. He emphasized his dedication to spearheading the company through an exciting new chapter, with a firm commitment to utilizing their expertise in fields like neuromodulation and active implantables to positively impact clinicians and patients worldwide. Hanks believes this is a unique opportunity to leverage their advanced capabilities in a way that benefits global health.

Dan Purvis: A Legacy of Success

Dan Purvis, who co-founded Velentium in 2012, has been instrumental in navigating the company through its initial phases to become a recognized name in the medical device industry. As he transitions to Board Chair, he remains dedicated to steering the strategic direction of Velentium. Purvis reflects on the twelve years since its inception, celebrating the company’s transformation from concept to a thriving organization driven by values prioritizing patient outcomes.

Reflection on Growth

Purvis conveyed pride in the accomplishments of the Velentium team and expressed his confidence in Hanks' capabilities. He is optimistic that with Hanks' leadership and commitment to excellence, Velentium is well-positioned for continued success. This leadership change is not merely a reshuffling of titles; it represents a blend of vision and experience geared towards a robust future.

Strategic Partnerships and Future Plans

In the context of its strategic growth, Velentium partnered with a leading health care investment firm to scale its operations and drive global expansion. The collaboration with Great Point Partners aims to boost the company’s capacity to deliver innovative solutions while accessing crucial resources for sustained growth.

Support from Great Point Partners

Eddie Hjerpe, a Senior Vice President at Great Point Partners, remarked on Hanks’ proven track record and his comprehensive understanding of the medical device landscape. He suggested that Hanks is the right leader to drive Velentium through its next growth phase, particularly with Dan’s strategic oversight as the Board Chair. This collaborative dynamic is expected to facilitate a more innovative and successful path forward.

About Velentium

Velentium stands out as an ISO 13485 and FDA registered organization with a solid foundation in designing and manufacturing a wide range of active medical devices. Their specialties encompass everything from therapeutic and diagnostic devices to advanced software and cybersecurity solutions. By establishing themselves as a trusted partner for various clients, from startups to established enterprises, Velentium has demonstrated a commitment to improving global health outcomes through technology.

About Great Point Partners

Founded in 2003, Great Point Partners has become a leading health care investment firm focused on supporting innovative companies within the health sector. Managing approximately $1.5 billion in capital, they actively invest in various healthcare niches, including biopharmaceutical services and medical device manufacturing. Their proactive investment approach is driven by a dedication to fostering growth and innovation among portfolio companies.

Frequently Asked Questions

1. What recent changes have been announced at Velentium?

Velentium announced the appointment of Matt Hanks as CEO and Dan Purvis as Board Chair to guide its growth strategy.

2. What is the background of the new CEO, Matt Hanks?

Matt Hanks brings over 30 years of experience in strategic growth and operations from various leading companies in the medical device sector.

3. What does Dan Purvis's new role entail?

Dan Purvis will now serve as Board Chair, continuing to influence the strategic direction of Velentium.

4. How does Velentium plan to drive future growth?

The company is leveraging strategic partnerships, particularly with Great Point Partners, to expand its global reach and innovation capabilities.

5. What makes Velentium unique in the medical device market?

Velentium specializes in the end-to-end design and manufacturing of active medical devices, focusing on improving patient outcomes and global healthcare delivery.

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