New Executives Add Significant Engineering and Financial Expertise to Rapidly Growing Organization Focused on Lowering Health Care Costs
SAN DIEGO, June 23, 2011 /PRNewswire-USNewswire/ -- The West Wireless Health Institute (WWHI) today announced the addition of Dr. Robert Matthews as its chief technology officer (CTO). Dr. Matthews, who joins WWHI from Archinoetics, is responsible for leading the Institute's biomedical engineering research and development strategy. In addition, WWHI has named Michael Caponetto as its chief financial officer (CFO). Both appointments are effective immediately.
WWHI, founded in March 2009 by the Gary and Mary West Foundation, is one of the world's first research organizations dedicated to lowering health care costs by innovating, validating, advocating for, investing in and commercializing wireless technologies to transform medicine. The Gary and Mary West Foundation has committed more than $100 million to WWHI to date, with $55 million earmarked for internal engineering research and development.
"Adding Rob and Mike to our team is another major milestone for the Institute, which has grown from 40 to 60 employees since the beginning of 2011," said Gary West, WWHI's founder and chairman. "Both leaders are acutely aware of the crisis we are facing in health care, and their collaboration with our existing management team will help to ensure that our strategy and initiatives align directly with our mission to lower health care costs."
In addition to driving the Institute's overall biomedical engineering research and development strategy, Dr. Matthews will spearhead collaboration between the Institute's clinical and engineering teams to ensure that solutions are thoroughly aligned with patient and health care system needs. As CTO, he also will champion clinical and economic validation of cost-saving technologies and solutions developed both inside and outside of WWHI.
Recently, Dr. Matthews served as CTO for Archinoetics, where his research and development activities focused on commercial successes in the wellness and fitness markets, including several opportunities currently being transitioned into new spin-offs for the company. Previously, he served as President of QUASAR (Quantum Applied Science and Research) in San Diego, CA, where he developed the world's first truly non-invasive EEG/ECG measurement suite. Dr. Matthews has in-depth experience in developing non-invasive medical devices, a broad range of practical experience in developing state of the art electromagnetic sensing systems, and holds a Ph.D. in Physics from the University of Western Australia.
As CFO, Michael Caponetto will oversee long-term financial strategies and day-to-day financial and administrative operations to maximize the Institute's resources for achieving its mission. He will also work closely with the management team to help ensure the Institute's internal research and development is focused on opportunities with the greatest cost-savings potential.
Caponetto has extensive financial and operating experience in health care and other industries, and with private equity-backed companies and private middle-market investment banking firms. Prior to joining WWHI, he was chief financial officer and a senior member of the management team for two Goldman Sachs-backed companies, including Business Records Management, an information management services company. He has advised companies across numerous health care sectors, including medical device, health care information technology, medical equipment, managed care, and institutional pharmacies. Caponetto holds an MBA with concentrations in finance and accounting from the University of Chicago Graduate School of Business.
"We're thrilled to welcome both Rob and Mike to our team at this important time in our organization's growth," said Don Casey, WWHI's CEO. "They bring exceptional talent and a commitment to our 'cost-first' approach to accelerate needed innovations in health care. We believe that their individual and collective contributions will help us achieve our mission of lowering health care costs by injecting frugal innovation and value into the health care equation."
For more information on WWHI, please visit www.westwirelesshealth.org.
ABOUT THE WEST WIRELESS HEALTH INSTITUTE
The West Wireless Health Institute (www.westwirelesshealth.org) is one of the first medical research organizations in the world supporting the exploration and application of wireless technologies to advance infrastructure independent health care. Founded in March 2009 by the Gary and Mary West Foundation, the nonprofit Institute is dedicated to innovating, validating, advocating for, investing in and commercializing wireless technologies to transform medicine. Its mission is to lower health care costs by accelerating the availability of wireless medical technology. The Institute is based in San Diego, California, the global center for health care innovation.
SOURCE West Wireless Health Institute