Pavilion Medical Innovations, LLC Launched to Assist Physician Inventors; Founders Fast-Tracked Development of Vortex Medical’s AngioVac®
Norwell, MA – April 28, 2010 – Two medical device professionals with an enviable track record have announced the formation of Pavilion Medical Innovations, LLC. PMI is focused on helping physician entrepreneurs bring new medical device concepts to market in a capital efficient and timely manner. PMI offers physician inventors single-source convenience for all of the processes required to move a novel device concept to commercialization.
PMI’s founders are Al Chin, MD, one of the most successful medical device inventors of our time with 165 U.S. Patents and Mike Glennon, current CEO of Vortex Medical Inc. Dr. Chin’s device designs have generated over $1.25 billion in revenue to date. Mike has had 20-plus years in the medical device marketplace and is a co-founder of Vortex Medical.
A Director of Vortex Medical, Dr. Chin has worked closely with Glennon in the design and development of AngioVac®. The AngioVac® Suction Cannula has a balloon actuated, expandable, funnel-shaped distal tip to facilitate flow, and to facilitate en-bloc removal of undesirable intravascular material such as clots and emboli during the performance of extracorporeal circulation. It is used in conjunction with the AngioVac Circuit which includes a centrifugal pump, a filter and venous return line to reinfuse the cleansed blood.
Vortex Medical was founded in March 2008 with a $2.25 M investment from Catalyst Health Ventures. In June 2009, a U.S. patent was published for the AngioVac® Cannula and Circuit with Glennon listed as a co-inventor. The company received 510(k) FDA clearance for the system’s use in the second half of 2009. The first Vortex human use PPT case was performed at the Brigham and Women’s Hospital, Boston, MA, in December of 2009.
“The lessons learned from our experience with AngioVac® coupled with Dr. Chin’s background as an MIT/Stanford-trained engineer and UCSF-trained M.D. will be available to physician inventors through PMI,” stated Mike Glennon. “Dr. Chin’s inventions have been used in more than one million endovein procedures. He has the rare ability to visualize a procedural process and to see the potential impact that a new device idea will have within the procedure. Dr Chin’s unique talent helps maximize preservation of capital and enhance market potential for the physician inventor by ensuring speed to market during the entire development process.”
To learn more about Pavilion Medical Innovations services for physician inventors and opportunities for strategic investors, visit www.pavilionmi.com.