StimGuard Strengthens Executive Team with Addition of Stephen Deitsch as Chief Financial Officer
StimGuard, a privately-held medical device company engaged in the development, manufacture and pre-commercialization of innovative device solutions for urological conditions, today announced the appointment of Stephen Deitsch as the Company's new Chief Financial Officer (CFO), effective January 15th, 2020. Mr. Deitsch brings 20 years of corporate financial leadership experience in the medical technology and healthcare service industries, most recently as Chief Financial Officer at BioScrip, Inc. (NASDAQ: "BIOS"), where he was instrumental in driving the business's growth and profitability, culminating in its merger with Option Care Health in August 2019. Gil Bao, who has served as Interim CFO, will assume the role of Director of Strategy.
"We are excited that Steve will be joining StimGuard's executive team as Chief Financial Officer," said Laura Perryman, Founder and Chief Executive Officer of StimGuard. "Steve is an accomplished financial executive in our industry, and his leadership experience and demonstrated track record of increasing shareholder value will be key as we transition to commercial stage and bring our differentiated and leading-edge CAN-Stim System to the U.S. urology market in 2020. Steve will nicely complement the recently announced StimGuard executive leadership team, that was previously successful in leading Stimwave a pain management venture to an annualized revenue run-rate of over $40 million."
Mr. Deitsch's experience spans financial leadership positions at companies such as Zimmer Biomet and BioScrip, Inc. During Mr. Deitsch's recent tenure as CFO of BioScrip, the largest independent national provider of infusion and home care management solutions, the company's market capitalization more than doubled, and was valued in excess of $1 billion at the time of its August 2019 merger with Option Care. Previously, Mr. Deitsch served as Executive Vice President and CFO of Lanx Inc., a privately held medical technology company with market leadership in minimally invasive spinal devices, that was acquired by Biomet, Inc. in 2013. Prior to Lanx, Mr. Deitsch held numerous executive finance roles at Zimmer including Vice President, Finance, Europe, Middle East & Africa. Mr. Deitsch also presently serves on the Board of Directors of Green Sun Medical, a privately held medical device company specializing in scoliosis bracing, since October 2017.
"I am thrilled to join a truly innovative company providing a less invasive, physician office based surgical option for those who suffer from overactive bladder and urinary incontinence. This innovative technology will improve patient outcomes and lower the cost of care." said Mr. Deitsch. "In evaluating this opportunity, while drawn to StimGuard's disruptive technology, it was also exciting to see a path to near term profitability and a capital efficient business model. I look forward to working with Laura and the rest of the team to continue to create value for all of our stakeholders."
About StimGuard
StimGuard is a privately held medical device company engaged in the development, manufacture, and pre-commercialization of wirelessly powered, microtechnology neurostimulators, providing patients with a convenient, safe, minimally invasive, and highly cost-effective urological solution that is easily incorporated into their daily lives. StimGuard'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 impact of urology care management. www.stimguard.com.
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