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Mark E. Brager
202-434-7244
mbrager@advamed.org
May 8, 2014

CVRx President and CEO Nadim Yared Named Chairman of AdvaMed’s Emerging Growth Company Council Board

Former Chair Michael Minogue Lauded for Setting Strong EGCC Foundation

WASHINGTON, D.C. – The Advanced Medical Technology Association (AdvaMed) announced that Nadim Yared, president and CEO of CVRx, has been named chairman of the association’s Emerging Growth Company Council (EGCC) Board of Directors for a two-year term.

Yared has served on the EGCC Board since its inception in 2012 and has been an active member of AdvaMed’s Board of Directors since 2011, representing the voice of smaller manufacturers.

“I am honored to be leading AdvaMed’s EGCC Board and working to benefit those smaller and emerging medical technology companies that are on the leading edge of patient care,” said Yared. “These companies are developing the innovations that make such a difference in patients’ lives and help fuel economic growth in our industry, but they also face many challenges – from capital formation to FDA regulation – which is why AdvaMed’s EGCC is so important if these companies are going to thrive.”

“AdvaMed’s EGCC is extremely fortunate to have such an experienced and dedicated individual as Nadim as its new chairman,” said Ashley Wallin, executive director and vice president, AdvaMed EGCC. “He has a keen understanding of the challenges smaller medtech companies face in today’s market and of their potential to bring life-changing innovations to patients worldwide.”

As EGCC chairman, Yared will focus on ensuring patient access to the innovative technologies the industry’s small companies develop by:

  • Promoting tax policies that facilitate small company investment and capital formation;
  • Working to ensure that changes to the European Union’s Medical Device and In Vitro Diagnostic Directives do not negatively impact EGCC companies, which often target the EU for initial new product launches;
  • Increasing small company interactions with FDA through the use of the EGCC U.S. Submission Tracker program, which aims to improve the quality of submissions and the submission process for both industry and the agency; and
  • Addressing emerging challenges of small medical device manufacturers with physician ownership.

Overall, the cornerstone of Yared’s chairmanship will be increasing engagement of small companies in advocacy work to improve the medtech innovation ecosystem.

Yared succeeds Abiomed Chairman, President and CEO Michael R. Minogue, who served as inaugural chair of the EGCC Board.

“Mike’s passion for helping small and mid-size companies address the issues they face in today’s challenging environment was a driving force behind the creation of the EGCC Board,” said Wallin. “His many novel ideas have created a strong foundation for this group, which will continue serving small companies for years to come.” Minogue will no longer serve on the EGCC Board as Abiomed has grown outside of the small company spectrum, but he will continue to serve on the AdvaMed Board.

Among Minogue’s many accomplishments as EGCC chair, he was instrumental in developing the first EGCC strategic plan, which calls for a culture of inclusivity that recognizes and values the diverse viewpoints of all AdvaMed members. In addition, he led efforts to establish the EGCC U.S. Submission Tracker program.

AdvaMed also announced the following new members of the EGCC Board:

  • Randall Barko, president and CEO, Ximedica
  • Shawn P. Fojtik, CEO, Control Medical Technology
  • David L. Macdonald, CEO, Agendia
  • Todd M. Pope, president and CEO, TransEnterix
  • Ken Reali, president and CEO, Baxano Surgical
  • John Russell, president and CEO, Corventis

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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.