POMPANO BEACH, Fla.–(BUSINESS WIRE)–Stimwave Technologies, the leading innovator of wireless medical pain relief implant bioelectric technology, has announced the appointments of Regina E. Groves and Marc A. Loev, M.D., to its Board of Directors, as well as James M. Rallo, CPA, as the company’s chief financial officer (CFO).
“We are thrilled to welcome Reggie, Marc and Jim to the Stimwave family and look forward to working closely with all of them as we strive to bring our wireless, minimally invasive neuromodulation solutions to people struggling with intractable chronic pain,” said Laura Perryman, Founder and CEO of Stimwave. “Reggie’s extensive expertise in product commercialization, infrastructure expansion, regulatory and financial management in medical technologies, along with Dr. Loev’s strong pain management clinical practice and leadership skills will be a tremendous asset as we continue to innovate for patients and build our commercial footprint in the neuromodulation market. In addition, Jim’s decades of financial management and public company leadership experience will help propel Stimwave into its next phase of growth and development.”
Ms. Groves brings more than three decades of deep industry experience and executive leadership to Stimwave. She most recently served as CEO of REVA Medical, and prior to that held top leadership positions at Medtronic, Kaiser Permanente and McKinsey & Company. In addition to business growth, clinical development and commercialization strategy, Ms. Groves’ background includes significant involvement with start-up companies and direct financial planning and reporting in numerous aspects of healthcare.
“This is an incredibly exciting time for Stimwave with ongoing development of its proprietary Wireless Pain Relief® technology as well as awareness efforts around pain management. I’m very excited to work with this talented and dedicated team of industry experts to deliver on a shared goal of advancing novel therapeutic technology for patients,” stated Ms. Groves.
Dr. Loev’s 20+ years treating patients and serving in leadership roles in pain management include his positions as CEO and then vice chairman of the board and chief strategy officer of the National Spine and Pain Centers, as well as president of The Center for Pain Management, where he led the company’s transformation into the largest Interventional Pain Management Practice in the nation. Dr. Loev is board certified in Anesthesiology and Pain Management and completed both his Anesthesia residency and Pain Management Fellowship at the University of Pennsylvania. He serves on the boards of several health related technology, pharma, and education companies.
“Neuromodulation has been known as an effective method of pain management for more than 50 years, but has been a last resort for so many candidate patients because of the invasive surgery required to implant the large batteries and wired connections that accompany today’s products,” said Dr. Loev. “I’m pleased to join Laura and the Stimwave team as we help set a new standard of care, convenience and safety for neuromodulation patients with the company’s revolutionary Wireless Pain Relief technology.”
Mr. Rallo has more than three decades of strategic financial leadership and management experience, including his previous role as president and CFO of the publicly traded company Liquidity Services, Inc. Prior to that, Mr. Rallo served as CFO, treasurer and chief administrative officer of Sleep Services of America, Inc. and as an investment banker in the healthcare group at Deutsche Bank. Mr. Rallo received Public Company CFO of the Year distinctions from the Technology Council of Maryland in 2013 and the Northern Virginia Technology Council in 2009.
“Stimwave is at a critical juncture of growth and I am excited to join such a driven and dynamic team of leaders. I look forward to contributing to the company’s rapid expansion and deployment of its cutting-edge platform technology to the market,” commented Mr. Rallo.
Stimwave’s devices are the premier wireless stimulators, using Wireless Pain Relief® technology that allows them to be 95 percent smaller than any other neuromodulation device on the market. These devices treat back and leg pain as well as treatment for shoulder pain, wrist and elbow pain, knee pain, hip pain and more. Stimwave’s stimulators also provide the widest compatibility with MRIs in the industry, with 1.5T & 3 T Full Body MRI scan conditions.
Stimwave Technologies Incorporated is a privately held medical device company engaged in the development, manufacture, and commercialization of wirelessly powered, injectable, microtechnology neurostimulators, providing patients with a convenient, safe, minimally invasive, and highly cost-effective pain management solution that is easily incorporated into their daily lives. Stimwave’s goal is to evolve its patented, cutting-edge platform into the default for neuromodulation, increasing the accessibility for patients worldwide while lowering the economic burden of pain management. www.stimwave.com.
Westwicke, an ICR company
Westwicke, an ICR company
SOURCE: Business Wire, 17th July 2019