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Jun-11-2012
Veteran Medical Technology Executive and Industry Expert Peter Soderberg Invests in EarlySense and Joins the Company’s Board of Directors

 

Waltham, MA, June 11, 2012 — EarlySense, a market leader in proactive patient care solutions, announced today that Mr. Peter H. Soderberg has both invested in the company and joined the company’s board of directors. The amount of investment is undisclosed.

 

“I have been following the progress of EarlySense for more than five years. For the past 18 months I have been working closely with the company as it establishes itself in the U.S. and other lead countries. I have become convinced that the continuous, non-contact monitoring technology of EarlySense is truly unique, effective, and compelling. This company has brought real innovation to the settings in healthcare where patients have not traditionally had a feasible, continuous health status monitoring solution. Hospitals, long term care institutions, and home healthcare providers need advanced technologies to help them overcome the twin challenges of improving quality of care and reducing costs. EarlySense’s advanced monitoring technologies have demonstrated a real impact on outcomes in their initial installations; for example: clinical teams using the system have shown a clear reduction in expensive ICU transfers, a shortening in the length of stay and the number of code blue events. I feel that EarlySense has significant opportunities for rapid market growth, initially in the hospital and long term care markets and then in the home market. For all of these reasons, it is my privilege to become part of EarlySense and to help guide its future to the advancement of both clinical and economic outcomes,” said Mr. Soderberg.

 

Mr. Soderberg is managing partner of Worthy Ventures Resources, LLC, a private investment company he founded in February 2010. He is also a board member of Greatbatch Inc. (NYSE: GB) and of St. Vincent Health (Indiana). Mr. Soderberg retired in January 2010 as president and chief executive officer of Hill-Rom Holdings, Inc. (NYSE: HRC), a position he held since March 2006. Hill-Rom is a leading worldwide manufacturer and provider of medical technologies and related services for the health care industry, including patient support systems, safe mobility and handling solutions, non-invasive therapeutic products for a variety of acute and chronic medical conditions, medical equipment rentals, and information technology solutions.

 

From January 2000 to March 2006, he was president and chief executive officer of Welch Allyn, Inc., and for the seven years prior to that, chief operating officer of Welch Allyn’s medical products business. Mr. Soderberg also held a number of positions over a twenty-three year career with Johnson & Johnson, where his final position was as president of one of its operating subsidiaries. He had also served on the board of directors of Hill-Rom (formerly Hillenbrand Industries) and AdvaMed. Mr. Soderberg is a former director of Constellation Brands, Inc. (NYSE: STZ) and Welch Allyn, Inc.

“We are very pleased to have Peter Soderberg on the board. EarlySense is certain to benefit from his vast experience. His executive leadership of the leading hospital bed company, a leading monitoring company and his board membership in a large and prestigious U.S. health system make his experience extremely relevant. We look forward to his important contributions,” said EarlySense chairman of the board and executive vice president of the Etgar Challenge Fund, Mr. Yossi Vinitski.

 

“This has been a great year thus far for EarlySense. Last month, the EarlySense system was awarded new innovative technology status by Novation, the leading health care supply contracting company for the members of VHA Inc., UHC, and Provista LLC. The company also announced clinical results from a landmark study conducted by Dignity Health, with active academic support by the Harvard affiliated Center of Patient Safety Research and Practice, showing that clinical teams using EarlySense significantly improved clinical outcomes. Study data was presented at ATS, a prestigious scientific conference. Today’s news is equally exciting. We are thrilled that Peter Soderberg has joined our board. He is a distinguished industry leader and his experience as the CEO of two leading medical technology companies is extremely valuable for us. We have worked with Peter for a little more than a year now and know his input will be instrumental to the future growth of the company,” said EarlySense CEO Mr. Avner Halperin.

 

“Peter Soderberg is an exceptional medical industry veteran. We truly appreciate his endorsement and vote of confidence in EarlySense, evidenced by his joining our team,” said Mr. Ittai Harel, general partner at Pitango Venture Capital, the largest investor in EarlySense.

 

About EarlySense

EarlySense is bringing to market an innovative technology designed to advance proactive patient care and enable better patient outcomes. The company’s flagship product is an automatic, continuous, contact-free, patient monitoring system that monitors and documents a patient’s vital signs and movement. There are no leads or cuffs to connect to the patient, who has complete freedom of movement and is not burdened by any irritating attachments. The system is currently installed at hospitals and rehabilitation centers in the USA and Europe. It is also commercially available in Canada.

 

EarlySense Inc. is headquartered in Waltham, MA. Investors include: JK&B, Pitango Venture Capital, Etgar Challenge Fund, ProSeed VC Fund (TASE: PRSD), Docor International Management, Noaber, and Bridge Investment Fund.

 

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