FOR IMMEDIATE RELEASE: July 24, 2017
TransMed7, LLC Announces Appointment of Jack Cumming as Director
Portola Valley, CA, July 24, 2017: TransMed7, LLC today announced the appointment of industry veteran Jack Cumming as a member of its Board of Directors. Mr. Cumming currently serves as CEO & Managing Director of Cumming & Associates, LLC, a strategic advisory firm formed in 2014 to exclusively serve the healthcare industry.
Prior to launching Cumming & Associates, Mr. Cumming spent fourteen years at Hologic, Inc., a publicly listed NASDAQ company. He joined Hologic in August 2000 as Senior Vice President and President of Lorad, a Hologic company. Mr. Cumming was promoted to President & CEO of Hologic in 2001 and later assumed the role as Chairman. He stepped down as Chairman in September of 2011 to serve as Global Strategic Advisor with a focus on expanding Hologic’s international presence. However, in July of 2013 the Board of Directors asked Mr. Cumming to reassume the role of President & CEO with the express direction of restructuring the company. Mr. Cumming formally retired from Hologic in December of 2013.
Under Mr. Cumming’s leadership of Hologic, beginning in 2001, Hologic’s market capitalization increased from $78 million to over $10 billion, while revenues grew from approximately $100 million to over $2.5 billon. Moreover, during this time period the company acquired over a dozen companies whose products harmonized their women’s health care portfolio. Hologic achieved an unprecedented market share leadership position in nine categories spanning Breast Health, Diagnostics, and Surgical. Mr. Cumming directly attributes this achievement to the entire Hologic team whose passionate, dedicated, and unwavering belief in making a difference in the lives of women differentiated them from their competitors. In 2007, Frost & Sullivan named Mr. Cumming CEO of the Year. In 2011, Mr. Cumming was named recipient of the 2011 National Consortium of Breast Centers Inspiration Award winner.
“Jack’s proven leadership and extreme business acumen immediately expand TransMed7’s strategic options for rapid deployment of our transformational technologies into the market,” said Eugene H. Vetter, TransMed7’s Co-Founder and CEO. TransMed7’s President, Dr. Edgar D. Staren stated that, “Jack’s unique depth of industry knowledge and proven success will help us advance our business as we bring to market medical technology which addresses patient needs from diagnosis to therapy.”
Prior to joining Hologic, Mr. Cumming served as President and Managing Director of HealthCare Markets Group (HCMG), a strategic advisory and investment-banking firm he founded in 1984. In his capacity as Managing Director of HCMG, the firm completed over $2.0 billion in transactions. Mr. Cumming is Trustee of Counsel at Bentley University and is also a member of the Luther Rice Society of The George Washington University. He joined the Board of T2 BioSystems in 2014 and serves on its corporate governance and nominating committees. Mr. Cumming also serves as a member of the Finance Committee for the Radiological Society of America. Mr. Cumming and his wife Pamela are active in the Cumming Family Foundation, which was established to fund projects primarily focused on health issues for women and children globally.
Mr. Cumming stated, “I am delighted to join the TransMed7 Board because I view their products as transformational, having the breadth of scope and runway of potential applications to multiple diseases, including breast tissue biopsy and excision, bone marrow biopsy and aspiration, cardiovascular intervention, endoscopy, laparoscopy, and others. TransMed7’s multiple, worldwide, and interlocking patent coverage of all aspects of its next generation minimal access medical technology position it to provide highly reliable, multi-use devices that are cost-effective and built to ensure ease of use by clinicians and enhanced access for patients.”
According to Dr. James W. Vetter, TransMed7’s Co-Founder and Chairman, “Jack’s exceptional leadership and management experience will continue to be instrumental in formulating our strategic direction as we advance TransMed7’s prime objective of improving each patient’s treatment, care, and quality of life through delivery of our innovative pipeline of transformational medical devices”.
FOR IMMEDIATE RELEASE: June 15, 2017
TransMed7, LLC Announces Appointment of Dr. Edgar Staren as President
Portola Valley, CA, June 15, 2017: TransMed7, LLC today announced the appointment of Edgar D. Staren, MD, PhD, MBA as TransMed7’s President as well as President of Martinet Medical, LLC, a new subsidiary Project Company among its portfolio, effective July 1, 2017. “Dr. Staren brings more than 20 years’ experience as a successful healthcare executive leading clinical programs, facilities, and biotechnology startups as well as operations management in both for-profit and not-for-profit arenas”, said Eugene H. Vetter, TransMed7’s Co-Founder and CEO. “In his new role, Dr. Staren will be responsible for taking our overall business strategy to the next level, as well as managing operations, quality, and financial performance for both TransMed7 and each of our Project Companies. We are fortunate to be able to add Dr. Staren’s leadership and experience to our mix, and look forward to the new impetus he brings to the growth of our business.”
Dr. Staren will be leaving his current position as Professor of Surgery, VP and Executive Director for Cancer Services at Wake Forest University Baptist Health, and Deputy Director for Clinical Affairs of its Comprehensive Cancer Center where he fostered tremendous growth in cancer services, enhanced clinical efficiencies, and drove substantial increase in operating income. Immediately prior to this he served as CEO of Ashion PMed Management, LLC and President of its subsidiary, Ashion Advanced Individual Medicine, LLC, both outgrowths of the Translational Genomic Research Institute (TGen) and now an affiliate of the City of Hope Comprehensive Cancer Center.
A graduate of Loyola University School of Medicine, Dr. Staren received his surgical training at Rush University Medical Center and Cook County Hospitals; he remained at Rush as a faculty member where he held positions as Professor and Associate Dean. He subsequently was recruited as Professor and Chairman of Surgery at the Medical College of Ohio and Medical Director of the MCO Cancer Institute. He then served as Senior Vice President and Chief Medical Officer, Western Regional Medical Center CEO, and CEO of Cancer Treatment Centers of America (CTCA) Medicine and Science before joining Ashion.
Dr. Staren has been regularly listed in “Best Doctor’s in America” and “America’s Top Doctors for Cancer”. He is a member of numerous academic organizations including the American Surgical Association, the American Society of Clinical Oncology, and the Society of Surgical Oncology, and he is a Past President of the American Society of Breast Surgeons. He has published nearly 300 scientific works including more than 150 manuscripts, 80+ abstracts, 45 book chapters, and 12 books. He has given more than 200 visiting professorships or invited lectures. “I feel most fortunate to be joining a remarkably talented team dedicated to bringing their combined expertise to bear in order to make a difference in the lives of patients in need”, says Dr. Staren.
According to Dr. James W. Vetter, TransMed7 Co-Founder and Chairman, “Dr. Staren has been a pioneer and strong advocate for the enhanced use of minimally invasive, image-guided procedures throughout his career. Along with his proven operational excellence, Dr. Staren brings his extensive experience with the latest diagnostic and treatment advances to further advance TransMed7’s prime objective of improving each patient’s treatment, care and quality of life through practical translation of new capabilities and concepts into our pipeline of transformational devices”.