CARLSBAD, Calif. – July 11, 2017 – Following the €1.9 billion ($2.16 billion) purchase of The Spectranetics Corporation (NASDAQ:SPNC) by Royal Philips (NYSE:PHG), Ra Medical Systems, makers of cardiovascular and dermatology catheters and excimer lasers, today announced the appointment of two new members to the Company’s Board of Directors. This also follows the recent FDA market clearance and commercial launch of Ra Medical Systems’ revolutionary DABRATM System for the treatment of Peripheral Artery Disease. Joining the board are Dr. Maurice Buchbinder, an internationally recognized interventional cardiologist, and Mr. Martin Colombatto, a veteran electronics industry executive and venture capitalist.
“Dr. Buchbinder and Mr. Colombatto are pioneers in their respective fields and will bring extensive leadership and knowledge to Ra Medical Systems as we continue to increase our global market share and grow our Company,” said Dean Irwin, CEO, Ra Medical Systems.
Dr. Buchbinder, M.D., FACC, has pioneered and commercialized numerous breakthrough medical devices for the less-invasive treatment of cardiovascular disease over the past two decades.
“Ra Medical Systems is delivering a pivotal device to the endovascular industry at just the right time, as catheter-based revascularization of occluded arteries has been an ongoing challenge for many decades,” added Dr. Buchbinder. “I am certain that DABRA will become the standard of care for treatment well beyond peripheral circulation. DABRA is a product that addresses a truly unmet clinical need.”
Mr. Martin Colombatto, former Vice President and General Manager of Broadcom Corporation and former Chairman of Staccato Communications, is a venture partner at Seven Peaks Ventures. He brings more than 30 years of sales, product development and merger and acquisition experience to Ra Medical.
“I am very impressed with the manner in which the founders and management team have systematically built a world-class medical device company with minimal outside capital,” said Mr. Colombatto. “I believe in the disruptive nature of Ra Medical Systems’ products and have joined the board to help drive the Company’s growth, particularly in the removal of arterial blockages, which is a huge market.”
“We continue to take pivotal action to best position Ra Medical Systems for growth, driven by our groundbreakingDABRA System, which is now being used to treat patients with Peripheral Artery Disease – the leading cause of limb amputations – in the United States and Europe,” concluded Irwin. “Our new board members add invaluable skills that broaden our overall know-how in the medical device sector and also more broadly in capital markets, while supplementing the skills of our other board members. We look forward to working together to advance our business strategy for both our customers and investors.”
About Ra Medical Systems
Ra Medical Systems was founded in 2002 to commercialize excimer lasers and catheters for the treatment of dermatologic and cardiovascular diseases. Its flagship product, Pharos, launched in 2004 and revolutionized the dermatology world with its technology and affordable business model for greater patient access to treatment. Today, Ra Medical Systems continues to make history as it commercializes DABRA globally.