MINNEAPOLIS, Nov. 18, 2020 (GLOBE NEWSWIRE) -- CVRx, Inc., developer of FDA-approved Barostim Therapy to treat chronic heart failure (HF), announced a CFO transition as part of the company’s long-term growth plan. Jared Oasheim, who joined CVRx in 2015, was promoted from Vice President of Finance to Chief Financial Officer (CFO). He succeeds John Brintnall, who transitions to Chief Strategy Officer.
President and CEO Nadim Yared said, “Succession planning and talent development for all positions play a key role in our long-term success. John has developed a strong finance department since becoming CFO almost 17 years ago, which has allowed him to take on many responsibilities beyond finance. This CFO transition, which has been in the works for the last two years, enables John to focus on our strategic initiatives and explore new growth opportunities, while maximizing the talents of our other financial leaders.”
“With his combination of experience and leadership skills, as well as his thorough knowledge of our business and operations, Jared is the obvious and best choice to become our next CFO,” said Brintnall. “He has been an essential member of the finance team for the past five years and has been instrumental in preparing us for strong commercial execution. I am also excited for my new role at CVRx to help Nadim, Jared and the rest of the team take CVRx to the next level.”
“I look forward to taking on this new role as CFO,” commented Oasheim. "It is an exciting time at CVRx, as we are rapidly expanding our commercial efforts in the United States and beyond. I feel fortunate to be a part of this hardworking and dedicated team who are laser-focused on delivering a groundbreaking therapy that significantly improves the lives of people suffering from heart failure.”
Oasheim has over 15 years of finance experience. Prior to joining CVRx, he held various leadership roles at three emerging growth technology companies after starting his career with KPMG LLP. He graduated from the Carlson School of Management at the University of Minnesota with a B.S. in Accounting and is a Certified Public Accountant (inactive).
Oasheim steps into the CFO role as CVRx enters a period of rapid growth. In July 2020, the company raised $50 million to support commercialization efforts for its BAROSTIM NEO™ System, which was designated a Breakthrough Device by the FDA in 2015, and received FDA PMA approval in August 2019.
As a result of the recent fundraising efforts, the company has started to rapidly expand its U.S. sales and marketing team by promoting two regional sales managers, hiring a marketing director and continuing to rapidly expand its commercial field staff. These expansion efforts are expected to continue throughout 2021 and beyond.
About CVRx’s BAROSTIM NEO
CVRx’s BAROSTIM NEO™ is the first medical device approved by the FDA to use the power of the brain and nervous system to improve the symptoms of patients with systolic heart failure (HFrEF). Designed to treat patients by electrically activating the baroreflex, the body's natural mechanism to regulate cardiovascular function, BAROSTIM NEO uses CVRx-patented technology to send electrical pulses to baroreceptors located in the wall of the carotid artery, to deliver BAROSTIM THERAPY™. The therapy is designed to restore balance to the autonomic nervous system and thereby improve the symptoms of HF. BAROSTIM NEO received the coveted "Breakthrough Device" FDA designation and is the first device approved by the FDA to use the power of the brain and the nervous system to improve the symptoms of patients with HFrEF. BAROSTIM NEO is approved by FDA for HF in the US, and has received the CE Marking for HF and resistant hypertension in the European Economic Area. To learn more about BAROSTIM NEO, watch this video.
About CVRx, Inc.
Headquartered in Minneapolis, MN., CVRx® is a leader in innovative medical technologies that address the unmet needs in cardiovascular diseases with safe and effective therapies that harness and harmonize the body’s natural systems. CVRx is dedicated to improving patient outcomes, quality of life and overall cardiovascular health via novel baroreceptor neuromodulation therapies.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/96f9c2c4-accc-40c6-8c9a-954f382a195f