Dr. Gregory Sorensen, the former chief of Siemens Healthcare (NYSE:SI) North America division, is taking out a minority stake in Deerfield Imaging, the former Imris business the investment company bought out of bankruptcy this year.
Imris and 2 subsidiaries, including its NeuroArm Surgical business, filed for Chapter 11 bankruptcy protection last May, under a bailout plan with Deerfield Management. Today Deerfield said Sorensen plans to take out a “significant” minority interest in the former Imris business and is set to become executive chairman.
“I’m very excited to be part of this partnership,” said Sorensen. “I’m passionate about improving patient care via scientific advances, and Imris has a strong record of deep technological innovation that has been shown to improve outcomes. I see great untapped potential in the Imris technology and am confident I can help this company unlock that value for the benefit of all stakeholders.”
“Dr. Sorensen’s focus on patient outcomes and satisfaction and product innovation will help take our product development and market leadership to the next level. We are excited to have him join our team,” added Deerfield Imaging president & CEO Jay Miller.
“Dr. Sorensen’s decision to take a leadership role and significant stake in Imris validates the potential for the Imris technology and we look forward to a strong growth trajectory and continued successful patient care under his leadership and vision,” noted Deerfield Management partner Ted Huber.