TORONTO, Oct. 15, 2021 /PRNewswire/ - Minimally invasive image-guided therapy start-up, SpinaFX Medical Inc. (SpinaFX), is pleased to announce the appointment of John Soloninka as Chief Operating Officer.
John is a healthtech entrepreneur and ex IBM and Price Waterhouse healthcare system strategist bringing extensive industry, commercialization, regulatory and financing expertise to SpinaFX's growing team.
John previously served as CEO and co-founder of a $28M public/private venture debt fund, overseeing a syndicated $86M (CDN) investment in 36 early-stage Healthtech companies including Synaptive Medical, CONAVI, SPARTAN, and Profound Medical. Among his several start-ups, John co-founded an AI-based oncology management company, ultimately acquired by Varian Medical Systems, and co-founded and led product development and operations for a cloud-based medical imaging company sold to Merge Technologies of Milwaukee which was ultimately purchased by IBM.
Designated by the Industry Canada as a "Canadian Investment Champion" John pursued healthcare commercialization initiatives throughout Asia, Europe the US, and Middle East. John's appointments to research and commercialization advisory posts with the Rotman Research Institute and the Ontario Brain Institute, and as an expert witness to Canada's Standing Parliamentary Committee on Healthcare, reflect his industry knowledge and stature in this space. Formerly a Professional Engineer, John has a BSc in Engineering Physics from Queen's University and an MBA with Distinction from the Imperial College Business School, London UK.
Commenting on his appointment, John said: "I am delighted to join the SpinaFX team. Triojection™ has great potential to provide patients with an earlier, simpler back pain procedure, surgeons with a quicker, less-invasive treatment option, and payers with a lower cost per case. Dr. Kieran Murphy, SpinaFX's Chief Medical Officer, has world-leading expertise in minimally invasive, image-guided technology innovation. Jeff Cambra, SpinaFX's CEO, has been at the forefront of marketing transformative medical technologies for the global interventional spine market with Medtronic. My background complements these experts and together provides a great foundation to grow SpinaFX."
Jeff Cambra commented: "John brings an incredible combination of personal characteristics, skills, relevant expertise and strategic insights. His professional training, discipline, and entrepreneurial approach to business is invaluable to SpinaFX's early-stage commercialization and growth. I am extremely pleased John has chosen to join us."
Igor Keselman, SpinaFX's Executive Chair, said "John is a seasoned, hands-on healthtech leader. John's past advisory roles to leading institutions reflects his commitment to and respect within our industry. John is an important addition to our team".
About the Company
Headquartered in Ontario, Canada, SpinaFX is a medical device company bringing innovative, minimally invasive image-guided treatments to patients with back pain due to herniated discs. Our patented technology provides surgeons an earlier alternative to conventional surgery, using a minimally invasive technique to deliver a controlled Oxygen formulation to the affected disc, safely reducing the herniation and inflammation causing pain. SpinaFX's Triojection™ product was previously CE Marked under MDD and is undergoing re-certification under MDR. Triojection is not yet approved for sale in the North America, the UK or the EU.
Forward looking Statement
This news release contains predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance, referred to herein as "forward-looking statements", which are made as of the date of this news release or as of the effective date of information described in this release, as applicable. The forward-looking statements address such anticipated events or occurrences which may include economic factors, industry trends, market demand, and corporate performance and profitability. Forward-looking statements are often identified through words or expressions including "expects", "anticipates", "plans", "projects", "estimates", "envisages", "assumes", "intends", "strategy", "goals", "objectives" or variations thereof or stating that certain actions, events or results "may", "can", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions).
All forward-looking statements are based on current beliefs as well as various assumptions made by, and information currently available to SpinaFX's management team. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections, and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. We caution any person reviewing this news release not to place undue reliance on these forward-looking statements as a number of important factors could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates assumptions and intentions expressed in such forward-looking statements.
Neither SpinaFX nor its representatives undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by SpinaFX or its representatives or on behalf of either of them, except as may be required by law.