POMPANO BEACH, Fla.--(BUSINESS WIRE)--Stimwave LLC, a medical device manufacturer and independent research institute headquartered in South Florida, today announced the appointment of industry veteran Steven Amelio to the position of Chief Financial Officer (CFO).
Amelio is a senior financial executive with 30 years of experience in the medical device industry. Over his 20 year career with United States Surgical Corporation, Tyco Healthcare Group LP and ultimately Covidien, PLC he rose through the finance department in various roles and spent 10 years as Divisional CFO of Surgical Devices. With his broad- based knowledge of the industry and operations, Amelio was involved in all aspects of many acquisitions, divestitures, and purchased technologies in surgical areas such as minimally invasive, electro-surgery, orthopedic, biologics, and other related areas in addition to overseeing global finance organizations.
“Steven’s demonstrated strong healthcare and medical device track record and hands on finance experience make him the perfect fit for Stimwave to enhance our strategic plans,” said Laura Tyler Perryman, co-founder and CEO of Stimwave. “The addition of Steven strengthens our executive management team to support our high growth and to meet the market demand for our innovative and game changing neuromodulation platform technology.”
With 10 years of private equity experience in medical device companies, most recently, Amelio was CFO of Paradigm Spine, LLC, a private equity medical device company located in New York City where he was recognized in Becker’s Spine Review as an Industry Leader to Know. Amelio has an MBA in Finance and a BBA in Accounting from Iona College in New York.
“Stimwave’s technology provides beneficial alternatives to millions of patients suffering from chronic pain annually, as well as the healthcare system overall. I was fortunate to witness the positive impact new technologies have on patients very early in my career at United States Surgical Corporation and look forward to being part of the Stimwave team as we launch and embark on global commercialization and rapid growth,” said Amelio.
Stimwave’s devices use Wireless Pain Relief® technology and are 95 percent smaller than any other neuromodulation device on the market and can be fixated through an injectable method. The device delivers small pulses of energy to specific nerves, triggering a reaction that enables the brain to remap pain pathways, thus providing pain relief. Stimwave is the only neuromodulation device manufacturer cleared by the FDA to help reduce chronic neuropathic pain at most locations throughout the body, from back and leg pain addressed by spinal cord stimulation to PNS treatment for shoulder pain, wrist and elbow pain, knee pain, hip pain and more.
Stimwave Technologies Incorporated is a privately held medical device company engaged in the development, manufacturing, and commercialization of wirelessly powered, microtechnology neurostimulators, providing patients with a convenient, safe, minimally invasive, and highly cost-effective pain management solution that is easily incorporated into their daily lives. Stimwave’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 pain management. www.stimwave.com
Statements made in this press release that look forward in time or that express beliefs, expectations or hopes regarding future occurrences or anticipated outcomes are forward-looking statements. A number of risks and uncertainties such as risks associated with product development and commercialization efforts, expected timing or results of any clinical trials, ultimate clinical outcome and perceived or actual advantages of the Company’s products, market and physician acceptance of the products, intellectual property protection, and competitive offerings could cause actual events to adversely differ from the expectations indicated in these forward looking statements.