BOSTON, July 15, 2020 (GLOBE NEWSWIRE) -- The Medtech Convergence Fund (“MCF”), a $90 million seed and early-stage venture capital fund, is pleased to announce the appointment of two Venture Partners, Allan May and Ryan Pierce.
Both Allan and Ryan will be responsible for helping to build the fund’s investment portfolio and will work closely alongside the MCF team to develop the fund’s investment strategy. Allan and Ryan are based on the West Coast, which will extend the geographical reach of the MCF team.
Paul LaViolette, Managing Partner & COO of SV Health Investors said: “We are thrilled to have Allan and Ryan join our team. Allan’s decades long experience in medtech investing, and Ryan’s deep expertise in digital health will be extremely beneficial as we accelerate our investments and grow the MCF portfolio.”
Allan May, Venture Partner at the Medtech Convergence Fund said: “The investment thesis of MCF is timely as the healthcare market expands the use of telehealth and home therapy technologies. Telehealth has never been more essential than now, and I look forward to bringing my expertise to the MCF team.”
Ryan Pierce, Venture Partner at the Medtech Convergence Fund said: “I am delighted to join the Medtech Convergence Fund at this critical time in the evolution of healthcare. MCF is uniquely positioned to accelerate the impact of innovative companies whose technologies will improve outcomes, lower costs, and increasingly move care outside of the clinic."
Allan joins MCF along with his work at Life Science Angels, a Bay Area early stage investment group focused on supporting innovative biotech, medical device, diagnostic and mobile health companies. Allan co-founded Life Science Angels that to date, along with its affiliates, has invested over $70M in 70 companies, with over $800M in follow-on capital. Allan was also co-founder of Emergent Medical Partners, a $70M venture fund focused on early-stage medical device and diagnostic companies. Allan has been Chairman or CEO to 10 start-up medical device and diagnostic companies, and an investor in over 65 medtech, biotech, and diagnostic start-ups since 1995. In addition, Allan co-founded Nanostim, developer of the first Leadless Cardiac Pacemaker, and Hyalex Surgical, developer of synthetic cartilage for total joints.
Ryan is CEO and Co-Founder of Nine, a maternal and neonatal health technology company, and his healthcare investing experience includes roles at Rock Health and De Novo Ventures. Ryan's earlier operating roles include VP of Design and Innovation at Ventus Medical, VP of Business Development at Loma Vista Medical, and engineering positions at Concentric Medical and Zephyr Medical/The Foundry. An inventor on 30 issued U.S. patents, Ryan has designed FDA-cleared devices to treat sleep apnea and stroke. Ryan is a Lecturer in the Department of Bioengineering at Stanford, where he sits on the faculty of the Stanford Byers Center for Biodesign and co-teaches BIOE 70Q: Medical Device Innovation. Ryan earned mechanical engineering degrees from MIT and Stanford, and an MBA from Harvard Business School.
About the Medtech Convergence Fund
The Medtech Convergence Fund (MCF) is a seed and early-stage venture capital fund committed to helping entrepreneurs, healthcare professionals and inventors build innovative medical technology companies. Our fund strategy is focused on the increasing convergence of medical technology with software, telecommunications, and new service models to create solutions to some of the most significant health challenges. MCF’s mission is to invest in therapeutic and monitoring technologies that offer superior patient outcomes, while enabling better healthcare efficiency. The MCF team leverages decades of medtech investing and operating experience to help entrepreneurs succeed from the earliest phases of product development. To learn more visit www.medtechconvergence.com.
About SV Health Investors
SV Health Investors is a leading healthcare fund manager committed to investing in tomorrow’s healthcare breakthroughs. SV invests across stages, geographic regions and sectors, with expertise spanning biotechnology, dementia, healthcare growth, healthcare technology and public equities. With approximately $2.2B in assets under management and a truly transatlantic presence with offices in Boston and London, SV has built an extensive network of talented investment professionals and experienced industry veterans. Since its founding in 1993, SV has invested in more than 175 companies with more than 75 of these having achieved successful acquisitions or IPOs.
Historically, SV managed funds have been diversified across the three sectors. However, the firm’s seventh vintage of core funds is separated into three distinct vehicles; the SV7 Impact Medicine Fund forms and funds early-stage biotechnology companies developing precision medicines, the Growth Fund accelerates growth-stage healthcare services, medical products and digital health companies and the Medtech Convergence Fund specializes in novel medical device and remote-monitoring technologies.
Alongside their core funds, SV manages the Dementia Discovery Fund, focused on discovering and developing novel therapeutics for dementia, and the International Biotechnology Trust plc, a publicly-traded investment trust.
For more information, please visit www.svhealthinvestors.com.
Media contact:
Dana O’Brien
SV Health Investors
dobrien@svhealthinvestors.com