CorVent Medical, a Coridea portfolio company focused on developing smart, versatile, lifesaving ventilators for critical care, announced today the appointment of Richard S. Walsh to Chief Executive Officer (CEO). Mr. Walsh comes with almost three decades in the industry, both with start-ups and large, global organizations, and brings a wealth of medtech and senior leadership experience. He joins CorVent as the team prepares to commercialize its RESPOND-19™ ventilator and position the company as an innovator in reliable, lifesaving ventilators that efficiently address overflow ventilation needs.
“A seasoned commercialization expert and strong team builder, Rich has the expertise to grow our team from a start-up to a commercial company,” stated Mark Gelfand, Managing Director and Co-Founder of Coridea and former interim CEO of CorVent. “He is an accomplished executive with a successful track record introducing new products, scaling commercial organizations, developing and implementing corporate strategies, and exceeding sales projections. We welcome Rich to the team and look forward to his leadership as we prepare to bring RESPOND-19 to market.”
Most recently, Mr. Walsh served as Vice President of Global Sales for Medrobotics Corporation, where he was responsible for building a worldwide direct and distributor sales force for their novel robotic surgical system, establishing strong clinical partnerships with key opinion leaders and supporting fundraising activities. He has been involved in six successful medtech exits and held sales and marketing roles of progressing responsibility at NeoTract, Acclarent, AtriCure, Stereotaxis, Inc, Intuitive Surgical, Perclose and US Surgical. Mr. Walsh holds a BS in Aeronautical Science from Embry-Riddle Aeronautical University and served in the U.S Army National Guard.
“I’m thrilled to join CorVent at this pivotal time. The core team is extremely strong, and we have an exciting offering that uniquely addresses a significant gap in the market,” added Richard S. Walsh, CEO of CorVent Medical. “Covid-19 exposed a critical need for a reliable, on-demand ventilator supply when patient demand exceeds traditional ICU ventilator capacity. The RESPOND-19 ventilator expands access to critical care ventilation that enables rapid and affordable deployment.”
“We believe CorVent’s technology has the potential to disrupt the ventilator market with an elegant solution that would enable healthcare preparedness and the ability to ensure all patients have access to respiratory support when they need it most,” commented Antoine Papiernik, Managing Partner at Sofinnova Partners and lead investor in CorVent Medical. “We are pleased to have an experienced industry veteran, like Rich, spearhead CorVent’s commercial efforts.”
Ideal for disaster recovery or overflow ventilation needs, the CorVent RESPOND-19 ventilator compliments existing ventilator products by providing critical care, flexible ventilator supply during times of greatest need. The intuitive system combines key lifesaving features to meet individual patient respiratory needs with built-in safeguards and superior infection control. Optimized for long-term storage with no maintenance, the cost-efficient system eliminates the need for costly service contracts.
About CorVent Medical, Inc.
CorVent Medical, a privately held portfolio company of Coridea LLC, is committed to developing smart, versatile, lifesaving ventilators for critical care. The company’s first product, the RESPOND-19™ Ventilator, was designed in partnership with Design Catapult, an industrial design firm recognized for their rapid ideation of medical and commercial products. The ventilator is currently pending Emergency Use Authorization (EUA) issued by the U.S. Food and Drug Administration (FDA) for ventilators, tubing connectors and accessories, which authorizes its use for the duration of the U.S. Health and Human Services COVID-19 public health emergency declaration. This device is not yet FDA cleared or approved. Learn more at www.corventmedical.com.
About Coridea, LLC
Founded by serial entrepreneurs Dr. Howard Levin and Mark Gelfand, Coridea LLC is a proven medtech incubator that develops unexpected solutions to address complex and costly unmet needs in healthcare. Coridea has successfully launched over 10 companies that focus on bridging the gap between patient care and medical device innovation. Learn more at www.coridea.com.
