Ivenix said in named former GI Dynamics (ASX:GID) chief Stuart Randle to be its new CEO.
Randle departed GI Dynamics in August 2014, after 10 years with the bariatric device maker. Amesbury, Mass.-based Ivenix, which raised $42 million last September, is developing an infusion management system for hospitals that will combine an information technology interface along with an adaptive fluid delivery platform.
“Over the last few years, the world-class development team at Ivenix has worked closely with nurses and other key stakeholders to take a patient-centric approach to reimagining an entire infusion management platform that we believe will result in better outcomes at a lower cost,” Randle said in prepared remarks. “With the recent successful financing, the company is poised to transform infusion therapy with its innovative, fully integrated infusion management system. I could not be more excited to join Ivenix at this time as we drive toward regulatory clearance and commercialization.”
“We are delighted to welcome Stu with his extensive global commercialization experience to the Ivenix team,” added chairman Dr. Ketan Patel, a partner at F-Prime Capital Partners, the venture capital arm of Fidelity Investments. “The Ivenix infusion management dystem combines state-of-the-art information technology with simplicity and safety. In a cost-effective and clinically meaningful way, Ivenix is transforming the infusion system from being ‘smart’ to being truly intelligent. Stu brings critical operational and commercial leadership experience at this important juncture in the company’s evolution from a development-stage to a pre-commercial stage company this year.”
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