WESTBOROUGH, Massachusetts – September 27, 2021 – Miach Orthopaedics, Inc., a privately held company dedicated to developing bio-engineered surgical implants for connective tissue restoration, today announced that Christopher Joyce has joined as vice president and chief financial officer, and Kevin Sidow has been appointed to the company's board of directors.
"We are thrilled to welcome Chris, who has an impressive background in managing finance and operations for medical device startups, and Kevin, a highly accomplished and well-respected leader in bringing orthopedic products to market," said Martha Shadan, president and CEO, Miach Orthopaedics. "Both Chris and Kevin bring expertise that will benefit Miach during this pivotal period of company growth."
Miach is launching the Bridge-Enhanced® ACL Restoration (BEAR®) Implant commercially in the U.S. this fall. The BEAR Implant is the first medical technology to clinically demonstrate that it enables healing of a patient's torn anterior cruciate ligament (ACL). It received De Novo approval from the U.S. Food and Drug Administration in December 2020.
As CFO, Joyce will lead financial operations for the privately held company. He brings more than 30 years of experience in managing all aspects of finance and operations from a firm's inception through commercialization via his work with three venture backed startups and public NYSE company. He has raised over $2 billion of public and private debt and equity, including two public offerings and over $200 million of venture financing. Joyce has a proven track record as a partner to the CEO, raising capital; building teams; negotiating deals; managing accounting, tax, human resources and legal; and building an operational infrastructure. For the past two years, he has served as a consulting CFO for several biotech and medical device startups. Prior to that, he was on the founding teams as CFO of FRX Polymers, a material science company, and two medical device companies, Elemé Medical and Percardia. Joyce started his career with XTRA Corporation, a NYSE company, serving his last seven years as vice president and treasurer. He earned his master of business administration degree from Babson College and his bachelor of business degree from the University of Massachusetts.
Sidow is a medical device industry veteran with more than 35 years of orthopedics experience. He has served as president and CEO for Moximed, Inc. and St. Francis Medical Technologies Inc. and worldwide president of DePuy Inc., where he oversaw Johnson & Johnson’s global orthopedic, spine, trauma and sports medicine businesses. He sits on the boards of several venture capital-backed life science companies, as well as non-profits. Sidow earned a bachelor’s degree in accounting from West Virginia University.
About The BEAR® Implant
The Bridge-Enhanced® ACL Restoration (BEAR®) Implant is a proprietary bio-engineered implant used to facilitate healing of the torn ACL. Unlike reconstruction, which is the current standard of care, the BEAR Implant does not require a second surgical wound site to remove a healthy tendon from another part of the leg or the use of a donor tendon. The BEAR Implant acts as a bridge between the two ends of the torn ACL. The surgeon injects a small amount of the patient’s own blood into the implant and inserts it between the torn ends of the ACL in a minimally invasive procedure. The combination of the BEAR Implant and the patient's blood enables the body to heal the torn ends of the ACL back together while maintaining the ACL's original attachments to the femur and tibia. The BEAR Implant is absorbed by the body as the ACL heals.
The BEAR Implant was granted De Novo Approval from the U.S. Food and Drug Administration in December 2020. It is indicated for skeletally mature patients at least 14 years of age with a complete rupture of the ACL, as confirmed by MRI. Patients must have an ACL stump attached to the tibia to facilitate the restoration. The BEAR device must be implanted within 50 days of injury.
About Miach Orthopaedics, Inc.
Miach Orthopaedics, Inc. is a privately held company located in Westborough, Massachusetts, dedicated to developing bio-engineered surgical implants for connective tissue restoration. The company's initial focus is the Bridge-Enhanced® ACL Restoration (BEAR®) Implant, which represents a paradigm shift in the treatment of ACL tears from reconstruction to restoration. The BEAR technology was pioneered by Martha Murray, M.D., founder of Miach Orthopaedics, at the Boston Children's Hospital Department of Orthopaedic Surgery, with initial research funding provided by the NFL Players Association, Boston Children's Hospital and the National Institutes of Health. For more information on Miach Orthopaedics and its products, visit miachortho.com and follow the company on Facebook, Twitter and LinkedIn.