Sam Brusco, Associate Editor02.08.21
Effective March 1, Charles (Chas) McKhann will become Apollo Endosurgery’s CEO and a member of the Board of Directors. Current CEO Todd Newton will serve as a consultant to the company for up to six months following his transition.
John Barr, Chairman of Apollo's Board of Directors, told the press, "We are pleased to announce Chas' appointment, and we want to thank Todd for his excellent stewardship. While Todd's achievements are many, his leadership during the COVID-19 pandemic has been particularly notable. In the past year, Todd's timely decision making has resulted in a leaner company, with a materially stronger balance sheet. He has built a robust foundation for the next stage of Apollo's growth. On a path to profitability, driven by continued strong sales of OverStitch and Orbera, and with the recent approval and upcoming full commercial launch of X-Tack, we felt the time was appropriate to transition to a new leader."
Under Newton’s 6½ year leadership, Apollo established a global sales and distribution footprint supported by internal manufacturing and a robust quality system. The FDA PMA approval of Orbera followed by the OverStitch Sx and X-Tack approvals were key milestones in his career. These approvals expanded the company's endolumenal suturing franchise in the upper and lower GI markets.
McKhann is a proven medtech executive with experience at Boston Scientific, Johnson & Johnson, Torax Medical (acquired by Johnson & Johnson), and Intersect ENT. While at Johnson & Johnson, he played a significant role in the launch of the first drug-eluting stent, Cypher. He has extensive hands-on experience in clinical, regulatory, and reimbursement activities. McKhann started his career at McKinsey & Co.
"This is an exciting time for Apollo," McKhann stated. "As an innovative company with truly game-changing technology, we have the potential to revolutionize gastrointestinal procedures and the management of obesity, improving the lives of millions of patients with GI and bariatric conditions. We have extraordinary opportunities to continue to accelerate the expansion of our product franchises globally. I am honored to lead Apollo and the management team as we execute our strategy of delivering life-changing technology to our patients and generating profitable growth for our Company."
John Barr, Chairman of Apollo's Board of Directors, told the press, "We are pleased to announce Chas' appointment, and we want to thank Todd for his excellent stewardship. While Todd's achievements are many, his leadership during the COVID-19 pandemic has been particularly notable. In the past year, Todd's timely decision making has resulted in a leaner company, with a materially stronger balance sheet. He has built a robust foundation for the next stage of Apollo's growth. On a path to profitability, driven by continued strong sales of OverStitch and Orbera, and with the recent approval and upcoming full commercial launch of X-Tack, we felt the time was appropriate to transition to a new leader."
Under Newton’s 6½ year leadership, Apollo established a global sales and distribution footprint supported by internal manufacturing and a robust quality system. The FDA PMA approval of Orbera followed by the OverStitch Sx and X-Tack approvals were key milestones in his career. These approvals expanded the company's endolumenal suturing franchise in the upper and lower GI markets.
McKhann is a proven medtech executive with experience at Boston Scientific, Johnson & Johnson, Torax Medical (acquired by Johnson & Johnson), and Intersect ENT. While at Johnson & Johnson, he played a significant role in the launch of the first drug-eluting stent, Cypher. He has extensive hands-on experience in clinical, regulatory, and reimbursement activities. McKhann started his career at McKinsey & Co.
"This is an exciting time for Apollo," McKhann stated. "As an innovative company with truly game-changing technology, we have the potential to revolutionize gastrointestinal procedures and the management of obesity, improving the lives of millions of patients with GI and bariatric conditions. We have extraordinary opportunities to continue to accelerate the expansion of our product franchises globally. I am honored to lead Apollo and the management team as we execute our strategy of delivering life-changing technology to our patients and generating profitable growth for our Company."
