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AdvaMed Strengthens Commitment to Emerging Growth Companies
WASHINGTON, D.C. – The Advanced Medical Technology Association (AdvaMed) will strengthen its commitment to small companies by reorganizing and expanding its Emerging Growth Company Council (EGCC), AdvaMed President and CEO Stephen J. Ubl said today.
“Emerging growth companies are drivers of medical innovation, economic growth and job creation. We are committed to ensuring that their perspective is always heard by policymakers,” Ubl said.
The strengthened EGCC, endorsed by the AdvaMed board at a meeting in December, will bring greater focus to issues facing companies that have sales less than $100 million. Those companies make up more than 70 percent of AdvaMed’s membership.
The new EGCC will be governed by a 15-member Board of Directors and a five-member Executive Committee composed of CEOs from small companies. Michael Minogue, CEO, president and chairman of Abiomed, will be the EGCC chairman. CEOs Nadim Yared of CVRx, Stuart Randle of GI Dynamics, Virginia Rybski of Regenesis Biomedical and David Lucchino of Semprus BioSciences will join Minogue as the board’s founding members.
The EGCC will be run on a day-to-day basis by a full-time dedicated AdvaMed vice president, and it also will have full access to AdvaMed’s policy expertise and other resources.
“We are excited about strengthening this sector of AdvaMed. The re-launch of the Emerging Growth Company Council follows our successful launch of the annual MedTech Conference and AdvaMedDx. We continually work to develop new ways to better serve our members and the industry, which provides key technologies to improve our lives,” Ubl said.
The EGCC will focus on facilitating a policy environment conducive to capital formation and innovation, advocating for domestic and international payment and regulatory policies that are favorable to emerging companies, and providing educational meetings and opportunities for emerging growth company leaders and professionals.
AdvaMed member companies produce the medical devices, diagnostic products and health information systems that are transforming health care through earlier disease detection, less invasive procedures and more effective treatments. AdvaMed members range from the largest to the smallest medical technology innovators and companies.