Houston-based Medical device company Procyrion, Inc., recently made a significant personnel move to promote one of the company’s executives to its board of directors. Last week, Steven Oldham was appointed to the board, and will represent Procyrion’s Series A stockholders while also assisting the management team in further executing the company’s efforts to commercialize Aortix™, a medical device that the company claims is the first-of-its-kind “catheter-deployed circulatory assist device” that patients can use for long-term treatment in protecting against chronic heart failure.
Mr. Oldham currently serves as the Vice President, Treasurer, and principal executive of Investor Relations at McDermott International, a company that specializes in comprehensive solutions offshore oil and gas projects throughout the world. Given his 19 years of experience in corporate finance-related roles, such as managing investor relations, capital structure and corporate liquidity, as well as fostering key relationships with banks and rating agencies, offering investment analysis, and advising on and mitigating foreign exchange risk, Procyrion’s Series A shareholders will be well represented by Mr. Oldham in articulating their interests for the company and its commercialization efforts.
“I am happy to have the opportunity to work with Procyrion’s talented and entrepreneurial management team to support their efforts to commercialize their exciting technology,” said Oldham, suggesting that he sees himself as a critical meeting point for both the executive staff and the board of directors: “I look forward to working with the business team and maintaining a close relationship among the Board, management and Series A investors.”
For Benjamin A. Hertzog, PhD, the President and CEO of Procyrion, the addition of Mr. Oldham to the board marks a major organizational shift toward advancing Aortix’ performance in the medical device market: “Procyrion is in an important phase of development and Mr. Oldham’s extensive corporate finance and investor relations expertise will add valuable perspective as we bring the Aortix™ heart pump to market. Mr. Oldham has already demonstrated that his business acumen and governance will be a great addition to the company.”