NxStage Replaces Board Chairman

Lawrence, Mass.-based NxStage Medical Inc. has appointed Robert G. Funari to the position of non-executive chairman of the board. He is the former chairman of Crescent Healthcare, and has served on the board of NxStage since January.

Funari succeeds Philippe Chambon, M.D., Ph.D., who resigned after having served on the company’s board of directors since 1998.

“It has been one of the great privileges of my career to be involved with the startup of NxStage and to participate in its growth over so many years,” said Chambon. “Together with [CEO Jeffrey Burbank], both the board and management team have the skill and resources to continue building a great company and the story is only just beginning to unfold.”

“We are very grateful to Philippe for his significant contributions to NxStage, commencing with our formation in 1998, and for the continued strategic guidance and valuable service he has given to the Company during his time as Chairman,” said Burbank. “We look forward to working closely with Bob Funari as our new chairman. I am confident that his leadership and oversight will add significant value to our strategic growth initiatives.”

Funari expressed his eagerness to continue working with Burbank and the rest of the management team towards the company’s growth strategy.

Funari brings more than 40 years of executive leadership, particularly in the healthcare industry. He served as a director of Beckman Coulter Inc., a diagnostics and life sciences company, from 2005 to 2011, as well as director of Pope and Talbot Inc. from 2001 to 2008. In addition, Funari served as director of First Consulting Group from 2004 to 2008 and director of Bay Cities National Bank from 1994 to 2011, where he also served as chairman from 2007 to 2011. He currently sits on the board of directors of a number of non-profit and private companies and is a member of the RAND Healthcare Board of Advisors.

NxStage focuses on technology for the treatment of end-stage renal disease.