Signifier® Medical Technologies appoints Jim Hinrichs, former CFO and Director of CareFusion and Alere, to its Board
Boston, MA, USA, and London, United Kingdom
November 12, 2020
Signifier Medical Technologies (“Signifier” or the “Company”), an innovator in the sleep-disordered breathing market, is pleased to announce the appointment of Jim Hinrichs to the Board of the Company. He joins existing Directors Kieran Gallahue (Chairman), Akhil Tripathi (CEO), Steffen Kastner, and Robert Sullivan.
Jim has 30 years of financial leadership experience in large and small organizations within the healthcare industry. Prior to his current board roles, Jim served as Chief Financial Officer (CFO) of multiple companies. These included Alere Inc, a publicly-traded diagnostic company, until its sale to Abbott Labs for approximately $8 billion; CareFusion Corporation, a publicly-traded medical technology company, until its sale to Becton Dickinson for approximately $12 billion; Sangstat Medical, a publicly-traded biotechnology company; and Cibus, a startup gene-editing company focused on the agriculture markets.
He previously served at Cardinal Health in various financial leadership positions having joined the company following more than a decade of finance and marketing roles at Merck & Co.
Jim currently serves as a Director and Chair of the Audit Committee at Orthofix Inc. (OFIX), Director and Chair of the Compensation Committee at Integer Holdings (ITGR), Lead independent director and Chair of the Audit Committee at Acutus Medical (AFIB), and Director and Chair of the Audit Committee at Outset Medical (OM).
Akhil Tripathi, CEO of Signifier, commented: “I am delighted to welcome Jim to the Board of Signifier. He brings tremendous industry experience and well-proven financial leadership and governance skills that will be invaluable in supporting the senior management team as we move to commercialize eXciteOSA for mild sleep apnea and snoring.”
Jim Hinrichs added: “Signifier Medical is poised to begin a phase of rapid expansion and growth with the potential to revolutionize treatment for patients with sleep-disordered breathing. I am excited to be working with the company at this pivotal stage and look forward to bringing my skills and experience to complement those of the existing Board.”
Mr. Hinrichs’s appointment follows the recent expansion of Signifier’s senior management team. In September, Signifier announced the appointment of Philip Hess, former President and CEO of Bose Corporation, as Chief Operating Officer based in Boston, USA, where Signifier is establishing its US operations. In October, Travis Nieman was appointed as Managing Director International, joining the company from Stryker Corporation.
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Tel: +44 (0)20 7096 0586
About Signifier Medical Technologies
Signifier Medical Technologies is a medical technology company focused on the development and commercialization of innovative and non-invasive solutions for patients with sleep-disordered breathing conditions and snoring.
Signifier’s proprietary therapy eXciteOSA® is the first and only daytime genioglossal (tongue) muscle-neurostimulation technology for mild obstructive sleep apnea and snoring, supported by clinical data from prestigious and well-recognized universities and academic institutions, that provides a safe and effective treatment for its patients.1-3
About OSA and Snoring
Nearly 1 billion adults aged 30 to 69 years are estimated to have obstructive sleep apnea (OSA) globally. There is a strong, clinically proven link between OSA and co-morbidities like diabetes, hypertension, and strokes. Mild OSA affects over 110 million people in the US and 100 million people in Europe.
Obstructive sleep apnea is marked by the recurring collapse of the upper airways during sleep. The most common symptoms are restless sleep, snoring, tiredness during the day, decreased intellectual alertness, and personality alterations. Higher risks of cardiovascular diseases and increased mortality rates have been associated with OSA.
Standard therapy of all advanced levels of sleep apnea is with a continuous positive airway pressure (CPAP) device. Many patients find this therapy invasive, and the long-term compliance of CPAP therapy is limited, so there is a clear demand for new forms of treatment.
White DP. Sleep-related breathing disorder: 2—pathophysiology of obstructive sleep apnoea. Thorax. 1995; 50:797–804. [PubMed: 7570420]
Wessolleck E, Bernd E, Dockter S, et al. Intraoral electrical muscle stimulation in the treatment of snoring. Somnologie (Berl). 2018; 22 (Suppl 2): 47–52.
Sama A, et al. Daytime Intraoral Neurostimulation with Snoozeal® for Treatment of Snoring and Mild Sleep Apnea. CHEST Annual Meeting Notes. 2018.
Clinical study of 115 patients with snoring or mild OSA (Apnea- Hypopnea Index (AHI <15 n=65). Objective snoring and respiratory parameters were recorded with 2 consecutive WatchPat night sleep studies before and after the use of the device. An intra-oral tongue stimulator (Snoozeal®) device was used for 20mins, once a day for 6-week period