TransMed7 Appoints Former Hologic CEO to its Board of Directors

TransMed7 LLC, has appointed industry veteran Jack Cumming as a member of its Board of Directors. Cumming currently serves as CEO and managing director of Cumming & Associates LLC, a strategic advisory firm formed in 2014 to exclusively serve the healthcare industry.
 
Prior to launching Cumming & Associates, Cumming spent 14 years at Hologic Inc., a publicly listed NASDAQ company. He joined Hologic in August 2000 as senior vice president and president of Lorad, a Hologic company. Cumming was promoted to president and CEO in 2001 and later assumed the role as chairman. He stepped down as chairman in September of 2011 to serve as global strategic advisor with a focus on expanding Hologic’s international presence, but in July of 2013 the Board of Directors asked Cumming to reassume the role of president and CEO with the express direction of restructuring the company. Cumming formally retired from Hologic in December of 2013.
 
Under Cumming’s leadership of Hologic, starting in 2001, the company’s market capitalization increased from $78 million to over $10 billion while revenues grew from approximately $100 million to over $2.5 billion. Moreover, during this time period, the company acquired over a dozen companies whose products harmonized their women’s health care portfolio. Hologic achieved an unprecedented market share leadership position in nine categories spanning breast health, diagnostics, and surgical. In 2007, Frost & Sullivan named Cumming CEO of the Year. In 2011, he was named recipient of the 2011 National Consortium of Breast Centers Inspiration Award winner.
 
“Jack’s proven leadership and extreme business acumen immediately expand TransMed7’s strategic options for rapid deployment of our transformational technologies into the market,” said Eugene H. Vetter, TransMed7’s co-founder and CEO. TransMed7’s President, Dr. Edgar D. Staren stated that, “Jack’s unique depth of industry knowledge and proven success will help us advance our business as we bring to market medical technology which addresses patient needs from diagnosis to therapy.”
 
Prior to joining Hologic, Cumming served as president and managing director of HealthCare Markets Group (HCMG), a strategic advisory and investment-banking firm he founded in 1984. In his capacity as managing director of HCMG, the firm completed over $2 billion in transactions. Cumming is trustee of counsel at Bentley University and he is also a member of the Luther Rice Society of The George Washington University. He joined the Board of T2 BioSystems in 2014 and serves on its corporate governance and nominating committees. Cumming also serves a member of the finance committee for the Radiological Society of America.

“I am delighted to join the TransMed7 Board, because I view their products as transformational, having the breadth of scope and runway of potential applications to multiple diseases, including breast tissue biopsy and excision, bone marrow biopsy and aspiration, cardiovascular intervention, endoscopy, laparoscopy, and others,” Cumming said. “TransMed7’s multiple, worldwide, and interlocking patent coverage of all aspects of its next generation minimal access medical technology position it to provide highly reliable, multi-use devices that are cost-effective and built to ensure ease of use by clinicians and enhanced access for patients.”
 
According to Vetter, “Jack’s leadership and management experience will continue to be instrumental in formulating our strategic direction as we advance TransMed7’s prime objective of improving each patient’s treatment, care and quality of life through delivery of our innovative pipeline of transformational medical devices.”
 
TransMed7 LLC develops minimally invasive medical devices aimed at providing new solutions for doctors and their patients. With particular expertise in both oncologic and cardiovascular disease, TransMed7 and its team of clinicians, scientists, and engineers have developed a portfolio of next-generation platform devices that are expected to be market leaders in their targeted fields of medicine. TransMed7 accomplishes this through application of a wholly new approach in its business plan and structure, enabling these new transformational technologies from rapid development through commercial manufacturing or where appropriate, handoff to strategic partners.