CAESAREA, Israel--(BUSINESS WIRE)--En route to commercial acceleration: Itamar Medical has announced the appointment of Gilad Glick as the company CEO, effective July 1st 2013. Dr. Dov Rubin, who served as CEO for the past five years, will step down.
"Dov transformed Itamar-Medical from a medical technology company to a market leader in the diagnosis of sleep disorders and early detection of cardiovascular disease. He has led the company through processes of obtaining medical approvals and reimbursement for its products in many countries, including the US, China, Japan, and Brazil all while increasing revenues and breaking even operationally," said Dr. Giora Yaron, joint Chairman of Itamar Medical. “Dov has worked diligently with the board on planning the transition period and will keep contributing as a consultant,” added Dr. Yaron.
"These have been exciting years where I was fortunate to lead Itamar into the new era of medicine utilizing Cloud Computing, persuading insurance payer’s to reimburse Itamar’s products, and positioning the company towards its next growth stage," said Dr. Rubin.
About Gilad Glick – an appointment reflecting established capabilities for realizing Itamar's sales vision:
Gilad has an impressive 18-year track record of continued achievements in marketing, sales, service, and research and development in the medical device industry, mainly in Europe and the United States. Before he joined Itamar, he served as Vice President Worldwide Sales and Marketing as well as a senior member of the Biosense Webster management team-- the cardiovascular division of Johnson & Johnson. In this capacity, Gilad was in charge of strategy and execution of the company's global commercial activity. Gilad joined Biosense while it was still a small start-up that was later sold to Johnson & Johnson and was one of the central pillars in building it to what today is one of the larger, fast growing Medical Device companies with over one billion dollars in sales, and double digit growth year over year for the last two decades. Biosense Webster is considered an impressive success story in Israel's history of medical devices.
Gilad Glick said: "I am looking forward to join this exciting company and lead the efforts to unleash the enormous potential of Itamar’s technology by making it available to the millions of people who can benefit from it towards a better life. Much of the infrastructure is already in place and we can now focus on accelerating product penetration into the target markets through execution of our marketing and sales vision."
Dr. Giora Yaron, joint Chairman of Itamar Medical said: "This is an important turning point for the company going through the transition from the research stage to the marketing and sales stage, and Gilad has all the qualifications for it. He brings a vast and established marketing experience in the fields relevant to us, and we expect his experience to contribute to Itamar's transition from the initial sales stage we are at into the next stage of significant growth in sales."
Gilad Glick has an MBA from Maastricht School of Management in the Netherlands as well as from the prestigious Stanford University Strategic Marketing Management Program. He will be returning from California with his wife and three children after living in Europe and the United States for 20 years.
During the first quarter of 2013, Itamar Medical successfully raised nearly NIS 76 million through exchangeable bonds that will be used mainly in the acceleration of its sales growth. In the beginning of 2013, the company also announced the expansion of its activity in Japan and the opening of a branch in Tokyo, which is an important market for the EndoPAT product that has recently been granted insurance indemnification approval in Japan. Japan is considered the nation with the second largest health economy in the world after the US.
Itamar Medical's WatchPAT device was chosen by the Canadian Trucking Alliance to test for obstructive sleep apnea in truck drivers. The company is also piloting with 12 trucking companies in the US. During the pilot program, the drivers will be able to take a sleep test in their homes (or even in their trucks) without having to go to a sleep lab, through using a special identification bracelet developed by the company. The bracelet, connected to the WatchPAT device, allows for the tamper-proof identification (“Chain-of-Custody”) using special encoding techniques. In addition, the company has recently reached an agreement with the American Academy of Private Physicians (AAPP), to include its two products, EndoPAT™ for early detection of cardiovascular disease, and WatchPAT™ for the diagnosis of sleep apnea, as tests recommended by doctors to their patients. Itamar Medical is a publicly traded medical technologies company (TASE: ITMR) developing non-invasive medical devices while using the PAT® (Peripheral Arterial Tone) signal. Itamar's first two product lines based on the PAT signal are WatchPAT, a home device for the diagnosis of sleep apnea and EndoPAT, a device testing endothelial function, the only one approved by the FDA, designed to test endothelial dysfunction at an early stage and diagnose coronary artery disease and other cardiovascular disease. The PAT signal is measured, in a non-invasive manner, from the tips of the fingers using a unique finger sensor, automatically analyzed through algorithms and signal processing, developed by the company.