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Vestagen names Bill Bold as new CEO

10 Feb '16

3 min read

Developer of high performance apparel for healthcare, Vestagen Technical Textiles has named Bill Bold as the new CEO and replaces Dale Pfost, who was serving as interim CEO and remains chairman.

Bill Bold was formerly president and CEO at Vascular Pathways, where he headed a turnaround that resulted in its successful acquisition by CR Bard.

During his tenure Bold developed and commercialised three FDA-approved products for new markets and previously, he held senior leadership positions at catheter securement device maker Venetec.

The company in a press release also said that it has completed a $7.0 million financing, which was a planned extension of its previous financing.

Advent Life Sciences and HealthQuest Capital led the financing, and other Vestagen investors also participated.

The proceeds will support commercialisation of Vestex, the first in a new class of active barrier technologies that combines fluid repellent, antimicrobial and breathability properties.

“Vestex is the only daily-use textile proven in a hospital setting to reduce harmful contaminants on garments, with the aim of reducing the risk of spreading dangerous pathogens,” Vestagen added.

Dale Pfost said, “Bill has an outstanding record of successfully developing and commercialising novel medical devices that address new markets, including navigating the FDA review process.”

“He will be ably assisted by the highly experienced team we have assembled, including newly hired senior sales executive Jim Beyer,” he too added.

“We will soon be expanding our product line and filing for FDA review of Vestex as a protective medical device and we look forward to rapid progress going forward,” Pfost informed.

Speaking on his appointment, Bill Bold too said, “Healthcare uniforms have been linked to the potential spread of dangerous pathogens.”

“Vestagen is addressing the unmet need for better safety with its game-changing Vestex products and technologies, which transform everyday healthcare apparel into a protective medical device,” he stated.

“Vestagen's commitment to evidence-based marketing and regulatory review distinguishes its strategy and provides us with a key competitive advantage,” Bold noted.

According to Vestagen, Jim Beyer is an accomplished medical device sales executive with established industry relationships at major hospitals, group purchasing organisations and health systems.

He most recently was vice president of corporate sales at Masimo, a developer of noninvasive patient monitoring technologies, where he helped increase sales from $45 million to $600 million in eight years.

Previously, Jim Beyer held sales and marketing positions of increasing responsibility in the medical device industry and began his career at VHA/Novation and Columbia/HCA. (AR)

Fibre2Fashion News Desk – India