Encision (PINK:ECIA) handed the corner office over to Greg Trudel and said it closed a private placement worth $2 million.
Trudel comes to the Boulder, Colo.-based medtech company after years with Covidien (NYSE:COV) as a director of marketing. He has also worked with ConMed (NSDQ:CNMD) and Stryker (NYSE:SYK), according to a press release.
“Greg brings a legacy of success in the surgical device market to Encision. His deep operational experience and exceptional track record in sales and marketing will provide a fresh energy and culture to drive our patented AEM technology to future success,” chairman Dr. Patrick Pace said in prepared remarks.
Encision also said it closed a private placement for $2 million, selling about 2.5 million shares at 80¢ apiece, plus warrants for 1.2 million shares with an exercise price of $1.20 per share over a 5-year term. The company said it expects to put the money towards the continued development of its AEM technology, according to a press release.
Encision began its search for its new CEO after Fred Perner died of a heart attack in September.