Minneapolis, MN, Oct. 11, 2017 (GLOBE NEWSWIRE) -- BioSig Technologies, Inc. (OTCQB: BSGM), a medical device company developing a proprietary platform designed to address an unmet technology need for the $4.6 billion electrophysiology (EP) marketplace, today announced that Mr. Joseph W. Rafferty has joined the Company as Chief Commercialization Officer.
Mr. Rafferty brings to BioSig over 30 years of leadership experience with traditional corporate and emerging growth companies. Having functioned as CEO, GM, VP Global Sales-Marketing, VP Physician Training, VP Sales Training and Director for National Contracts, Mr. Rafferty has created a legacy of building and leading highly successful teams with industry leaders like Pathway Medical, Avinger, ACS/Guidant, CR Bard Vascular/Cardiovascular, Synthes Spine, Sterilox, J&J’s Ethicon Mechanical Products (Endo) and, most recently, as CEO of National Medical Sales, LLC.
While at ACS/Guidant, Mr. Rafferty has authored and implemented the “P3", or Price Per Procedure, model for interventional cardiology. The P3 model has leveraged ACS's full line of products, creating a significant barrier to competitors and visibility to expenses for providers negotiating with payors. Driving hundreds of millions of dollars in revenue, the "P3" quickly became the model for how business is conducted in the multi-billion dollar interventional cardiovascular sector. The "P3" has since been adopted by many other subspecialty markets.
““Timing is everything in life,” is a quote my parents often repeated,” Mr. Rafferty commented. “I feel very fortunate to be asked to join the BioSig team and lead the global commercialization efforts at this critical juncture. Bioelectronic Medicine is a quickly emerging market. The BioSig technology has a true platform capability to be leveraged in many bioelectronic medical applications.”
Kenneth Londoner, CEO & Chairman of BioSig Technologies, Inc. commented, “Commercial launch is one of the most important steps for any medical technology company. Prior to onboarding Joe, we did five months of two-way due diligence on one another, as this position is a critical one for BioSig. We had to make the right choice. Joe has demonstrated to our Board that he has the skills, the experience, and, most importantly, the track-record to successfully launch the PURE EP System. We look forward to working with Joe and his agile A-team on building our commercial capabilities. We are on track for a targeted launch in the second half of 2018.”
About BioSig Technologies
BioSig Technologies is a medical device company developing a proprietary technology platform designed to improve the $4.6 billion electrophysiology (EP) marketplace (www.biosigtech.com). Led by a proven management team and a veteran, independent Board of Directors, Minneapolis-based BioSig Technologies is preparing to commercialize its PURE EP(TM) System. The technology has been developed to address an unmet need in a large and growing market.
The PURE EP System is a novel cardiac signal acquisition and display system which is engineered to assist electrophysiologists in clinical decision making during procedures to diagnose and treat patients with abnormal heart rates and rhythms. BioSig’s main goal is to deliver technology to improve upon catheter ablation treatments for the prevalent and deadly arrhythmias, Atrial Fibrillation and Ventricular Tachycardia. BioSig has partnered with Minnetronix on technology development and is working toward FDA 510(k) clearance for the PURE EP System.
Forward-looking Statements
This press release contains “forward-looking statements.” Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) our inability to manufacture our product candidates on a commercial scale on our own, or in collaboration with third parties; (ii) difficulties in obtaining financing on commercially reasonable terms; (iii) changes in the size and nature of our competition; (iv) loss of one or more key executives or scientists; and (v) difficulties in securing regulatory approval to market our product candidates. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s website at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.