SAN FRANCISCO and PHILADELPHIA, Aug. 26, 2015 /PRNewswire/ -- Velano Vascular, a medical technology company transforming and enhancing the care experience for hospitalized patients and their practitioners, announced the appointment of David Schlotterbeck to the company's board of directors, effective immediately. Schlotterbeck joins a distinguished Board of proven medical industry leaders in their pursuit to transform one of today's most common medical procedures.
Schlotterbeck is a 35-year veteran of the medical and high technology industries with a widely recognized reputation for creating operating efficiencies and generating high shareholder value. As chairman and CEO of three public and two private companies, he has completed two successful IPOs, secured $7 billion in mergers and acquisitions, and created $11 billion in shareholder value over a 10-year period. Most recently, he created CareFusion, the fifth largest medical technology company in the world and the largest global company focused on improving healthcare quality and reducing costs. During Schlotterbeck's tenure as chairman and CEO, CareFusion generated $6 billion in shareholder value.
"David brings to Velano Vascular an unsurpassed breadth and depth of operating experience and success," said Eric M. Stone, co-founder and CEO of Velano Vascular. "We are honored to have him join our extended family of supporters and change agents, knowing that he will provide invaluable guidance as we seek to enhance the care experience for millions of hospital patients around the world."
Velano Vascular has developed a proprietary technology that reduces the need for needle sticks (clinically known as venipunctures) for blood draws in the hospital. The company's technology is designed to reduce unnecessary pain and anxiety for patients receiving medications and hydration via intravenous (IV) delivery, while providing a safer work environment for healthcare providers conducting blood draws. One out of every three hospital patients is stuck two or more times daily for blood draws throughout their hospitalization, with a significant subset of these inpatients receiving as many as three blood draws or greater per day.[i]
"Velano Vascular's mission and technology are very much aligned with my passion for improving healthcare quality while reducing costs," said Schlotterbeck. "This technology converges with providers' mandate to reduce the use of needles while benefiting the patient."
About Velano Vascular
Velano Vascular technologies transform patient care by enhancing the blood-draw experience during hospitalization. The company's innovative medical technologies aim to reduce the pain and discomfort associated with these procedures for patients while improving safety and efficiency for providers. Founded by a patient advocate and a physician, Velano Vascular is backed by First Round Capital, Kapor Capital, Safeguard Scientifics, White Owl Capital, Griffin Hospital, The Children's Hospital of Philadelphia, and several health-industry veterans. Velano Vascular's clinical collaborators include several of the leading hospital systems in the United States. More information is available at www.velanovascular.com
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[i] Frost and Sullivan, 2009