CardiacAssist, a growing Pittsburgh medical device company with a life-saving cardiac assist device used in nearly 90% of the nation's top cardiac centers, has appointed Kraig McEwen as president and CEO.
McEwen was formerly Sr. Vice President of Medrad where he has been responsible for building and growing Medrad's cardiovascular interventional device business since 2004. Prior to Medrad, he was an executive at General Electric Co.
"Medrad is an absolutely incredible company that has represented the region exceptionally well," says McEwen. "I'm a Pittsburgher by birth and passionate about the cardiovascular space. My dream has always been to help build the cardiovascular industry here. It's an opportunity to grow a truly life saving technology."
CardiacAssist was founded in 1996 to market an invention by Allegheny General Hospital 's Dr. George Magovern, a surgeon who was single-handedly responsible for the development of several heart inventions, including a heart valve, that have helped to save thousands of lives.
The company's flagship product, TandemHeart, provides immediate support to heart patients who do not respond to medical therapy with or without intra-aortic balloon pump treatment. In many cases, these are patients who may not have survived without the mechanical circulator support provided by the device.
TandemHeart buys patients time, whether they are very sick and need open heart surgery or are waiting for another treatment, says McEwen. "It's a wonderful tool for patients and physicians, a bridge to decision or a bridge to therapy."
The company's core target market is cardiac transplant and surgery centers where it has been successful in gaining a competitive position. Thanks to venture funding both locally and internationally, CardiacAssist is cash flow positive, says White. The company employs 35 at the RIDC Park on Alpha Drive and expects between 30 and 40 percent growth this year.
Writer:
Debra Diamond SmitSource: Kraig McEwen, CardiacAssist
Image of Kraig McEwen courtesy of CardiacAssistSign up to receive Pop City each week.