SubioMed Announces CEO Transition
Experienced Start-Up Veteran Appointed Interim Chief Executive Officer
MINNEAPOLIS, MN. – March 1, 2021 - SubioMed, Inc. (“SubioMed™” or the “Company”), a pioneer in the invention and development of disruptive Suspension Biomechanics™ technology addressing critical elements of gait and balance, today announced that Chief Executive Officer, Gary Peterson, will be resigning from the Company and Board of Director’s effective March 1, 2021.
Gary will remain with the company through an agreed upon transition period of March 31, 2021 and will thereafter remain with the company as a Special Advisor in support of its overall fundraising efforts. The company also announced the appointment of experienced start-up veteran Philip Vierling, to the position of interim Chief Executive Officer, effective March 1, 2021.
“I am proud of the development and clinical research partnerships we have advanced over the past several months, and the early introductions to potential investors. I remain excited about SubioMed’s future and realize that now is the time for the company to transition to a new CEO in support of the company’s longer-term fundraising activities”, said Peterson. Added Dr. Barry Butler, SubioMed Founder and Board Member, “I am appreciative of the energy and passion that Gary has brought to SubioMed.”
Dr. Butler further commented, “I am excited that Philip will be stepping in as our interim CEO at this critical juncture. Philip’s successful experiences and detailed understanding of the steps required for emerging technologies to become established are welcomed additions to the SubioMed team. Vierling stated, “I am thrilled to be joining Dr. Butler, the rest of the SubioMed team, and its scientific advisors at this important point in the company’s growth. I am confident that we are poised to quickly build on the company’s early momentum.”
Mr. Vierling has 40-years of experience in leading medical device companies, including several start-ups. Vierling’s career began with various management positions within Empi, a leader in the orthopedic rehabilitation market, with revenues of $8MM, to becoming the CEO and growing revenues to $145MM. As CEO of Kalypto Medical, a start-up medical device in the lower extremity NPWT market, Vierling raised Series A and Series B funding, while pursuing innovative reimbursement codes that led to successful commercialization and eventual sale to Smith & Nephew.
ABOUT SUBIOMED
SubioMed™ is pioneering the invention and development of Suspension Biomechanics technology aimed at improving lower extremity biomechanics and its effect on the skeletal structure during human locomotion. For more information, please visit our website at www.subiomed.com.
CONTACT
Brian Bowen Executive Vice President (612) 819-1690 bbowen@subiomed.com
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