SOURCE: Spiracur

Spiracur

July 09, 2014 09:01 ET

Spiracur Appoints Chris Fashek as Its New President and CEO

SUNNYVALE, CA--(Marketwired - Jul 9, 2014) - Spiracur, the developer of the only mechanically powered advanced wound care solution that delivers the proven efficacy of Negative Pressure Wound Therapy (NPWT), today announced the appointment of Chris Fashek as president and chief executive officer. With two decades of experience leading health care companies, Fashek will oversee execution of Spiracur's development and growth strategies as it expands its global presence as a preferred provider of innovative wound healing technologies.

Prior to joining Spiracur, Fashek served as president and vice chairman of Kinetic Concepts, Inc. (KCI) USA, which is the leader in NPWT of the wound care industry. Before joining KCI, he managed businesses in the pharmaceutical and consumer product markets for Sterling Drug, a division of Eastman Kodak in the United States and internationally. Mr. Fashek currently serves as chairman of the Board of Directors for Spiracur, and director of the IDN Summit, the World Craniofacial Foundation, and other commercial and charitable boards. Fashek received his Masters in Business Administration from Fairleigh Dickinson University and a Bachelor of Arts from Upsala College.

"I am very excited to assume this new role at Spiracur at this time, as the company has significant elements in place for expanding its commercial success," said Fashek. "Spiracur has the opportunity for sizeable growth due to a substantial increase in covered lives including Medicare reimbursement and positive coverage decisions from multiple private payors, as well as being added as an approved product in two of the largest U.S. GPOs. Not only is Spiracur extremely well positioned to enhance wound care treatment for patients who can benefit from NPWT, but this patient population is growing even larger as we announce new product offerings later this year, which expand our technology platform for broader usage," continued Fashek.

Spiracur is credited with creating a new category of chronic and acute wound management solutions that combine the benefits of advanced wound care with non-powered NPWT. The SNaP® (Smart Negative Pressure®) System provides patients with a sophisticated, non-invasive NPWT system designed to promote wound healing, which weighs only 2.2 ounces and does not require batteries or electricity.

Several clinical studies have been published supporting the SNaP System as an effective alternative to electrically powered NPWT, including a comparative Randomized Controlled Trial (RCT) that also showed the small device makes a positive difference in patients' quality of life. Recently, promising data from the multicenter RCT comparing the treatment of venous leg ulcers (VLU) using the mechanically powered SNaP System, to an electrically powered NPWT system, was presented at the Symposium on Advanced Wound Care (SAWC) Spring Conference in April.

According to Spiracur's chief scientific officer, Kenton Fong, M.D., "This recent RCT data shows extremely promising results for the SNaP System when used to treat venous leg ulcers. Specifically, the data revealed that wounds treated with the SNaP System demonstrated greater improvement and a higher likelihood of complete wound closure than those treated with the electrically powered VAC system."

About Spiracur Inc.
Spiracur Inc., headquartered in Sunnyvale, Calif., is a privately held medical device company focused on the development of innovative wound healing technologies. Spiracur was founded out of the Stanford University Biodesign Innovation Program in 2007. Its first product, the SNaP Wound Care System for the treatment of chronic and acute wounds, is the result of patient and clinician feedback that current negative pressure wound therapies were too cumbersome. The company's ciSNaP® Closed Incision System with proprietary controlled tension relief is designed to improve healing of high-risk surgical incisions. Both devices have received 510(k) clearance from the U.S. Food & Drug Administration (FDA) and have received CE Mark approval. Spiracur's proprietary mechanically powered technology does not require batteries or electricity to operate. For more information, please visit http://spiracur.com.

Spiracur, Spiracur logo, SNaP, Smart Negative Pressure, and ciSNaP are registered trademarks of Spiracur Inc.
VAC is a registered trademark of Kinetic Concepts, Inc.

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