SAN DIEGO, Aug. 4, 2016 /PRNewswire/ --Suneva Medical, Inc., a privately-held aesthetics company, today announced the promotion of Preston Romm to president and chief executive officer, effective immediately. Romm, an industry veteran with more than 30 years of experience, recently joined the company as its chief operating officer and has been promoted to president and CEO to further accelerate the company's vision to become a leader in the cash-pay aesthetics market. Nicholas L. Teti, Jr., former chairman and chief executive officer at Suneva Medical has resigned both posts to pursue other interests after championing many successful milestones for the organization over the last six years.
"Preston's senior leadership and industry experience will be invaluable to the company as it continues on its growth strategy," said Todd Davis, founding managing partner of HealthCare Royalty Partners, a major investor in Suneva Medical. "With a unique blend of financial, operational and marketing expertise, we're confident Preston will continue to elevate Suneva Medical and solidify its position as a world-class aesthetics company."
"We would also like to thank Nicholas Teti for his outstanding dedication to the company, unmatched passion and years of service. Nick's accomplishments at Suneva are many, including his vision for commercial development and spearheading the FDA approval for Bellafill® for the treatment of acne scars, driving the landmark five-year clinical study of Bellafill®, and the launch of numerous products in the Regenica® skin care line. His impact has been great, and he will be missed," concluded Davis.
In addition to this executive change, the company is further fortifying its leadership with the additions of several new board members. First, Martin P. Sutter, co-founder and managing director at Essex Woodlands will join the board, bringing more than 30 years of management experience in operations, marketing, finance and venture capital. Additionally, Dennis Condon, CEO and president of Nuvesse Skin Therapies will be added to the board. Condon brings more than 30 years of experience in key executive roles in the medical and plastic surgery markets including executive office positions at Merz Aesthetics, BioForm Medical, and Mentor Aesthetics. Preston Romm will also join the company's board and Todd Davis will assume the role of chairman.
HealthCare Royalty Partners (HCRP) is a global healthcare investment firm focused on investing primarily in commercial stage healthcare product assets. HCRP is based in Stamford, Connecticut and manages over $3 billion in capital. Over the past decade, HCRP's co-founders have completed more than 60 healthcare financings totaling more than $2.5 billion of capital. For more information, visit www.healthcareroyalty.com.
About Essex Woodlands With $2.5 billion under management, Essex Woodlands is one of the largest and oldest growth equity firms pursuing investments in pharmaceuticals, medical devices, healthcare services and healthcare information technology. Since its founding in 1985, Essex Woodlands has maintained its singular commitment to the healthcare industry and has been involved in the founding, investing and/or management of over 150 healthcare companies, ranging across sectors, stages and geographies. The team is comprised of over 20 senior investment professionals with offices in Palo Alto, Houston, New York and London. For more information, please see www.ewhv.com.
About Suneva Medical, Inc. Suneva Medical is a privately-held aesthetics company focused on developing, manufacturing and commercializing novel, differentiated products for the general dermatology and aesthetic markets. The innovative aesthetics leader markets Bellafill®, the only dermal filler on the market that is approved by the U.S. Food and Drug Administration for the correction of nasolabial folds and moderate to severe, atrophic, distensible facial acne scars on the cheek in patients over the age of 21 years. The company markets Bellafill® in the U.S., Canada and Hong Kong; ArteFill® in South Korea; Regenica® skin care in the U.S., Canada and Hong Kong; and ReFissa® tretinoin cream in the U.S. ArteFill® was rebranded to Bellafill® in the U.S. to reflect the transformational outcomes this unique product can provide to patients seeking correction of their acne scars and nasolabial folds. For more information, visit www.sunevamedical.com.