Solenic completes enrollment of human feasibility study and looks ahead to pivotal trials for patients suffering from periprosthetic joint infections (PJI).
Solenic Medical, a leading innovator focused on revolutionizing orthopedic implant infection care, announced the appointment of Bart Bandy as its new Chief Executive Officer. He brings more than 30 years of healthcare leadership experience, including a strong track record of driving growth and commercialization in both private and public medical technology companies. Mr. Bandy will lead Solenic Medical as the company prepares to expand its presence and accelerate the path to market of its proprietary alternating-magnetic-field (AMF) therapy addressing a significant unmet need in medical implant infection management.
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“The Board is delighted to announce the appointment of Bart as our new CEO,” said Arthur Lee, MD, Solenic Medical Board Member and Managing Partner Epic Venture Partners. “Bart’s proven track record in building high performance organizations and global commercialization of innovative medical technologies, coupled with his strong leadership skills and fund-raising experience, makes him the ideal candidate to guide Solenic Medical into its next phase of growth. We are confident that his strategic vision and patient-first approach will build upon the company’s success and drive significant value for our shareholders, clinicians, and employees.”
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“I understand what it takes to bring innovative, lifechanging technologies to the global market, and the Solenic Medical team, backed by world-class participatory investors, has the vision, talent and passion to be very successful with our next-generation technology,” said Mr. Bandy. “It is an energizing opportunity to lead such a highly capable organization that is standing on the edge of what could be a massive transformation in how care is delivered with breakthrough innovation that can potentially save many patients from unnecessary surgeries and significantly reduce costs for healthcare systems.”
Each year in the United States, almost two million total knee and hip replacements are performed, and these operations are projected to increase up to four million by the year 2030. The company’s first area of focus in its pipeline, periprosthetic joint infections (PJI), is one of the most serious complications in the field of arthroplasty. Currently, PJI revision procedures have a high failure rate over 30%, pose significant morbidity to high-risk patients, create a negative impact on quality of life and drive individual patient therapy costs as high as $450,000. The projected direct annual costs to treat patients globally across hip and knee infections is a staggering $3 – 4 billion to healthcare systems, with mortality rates comparable to or higher than some cancers. Solenic Medical’s technology can also be developed to address improved infection management for patients with open wound trauma, dental and spinal implants.
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Source – PR Newswire
