Today AirXpanders, Inc. (ASX: AXP), (a medical device company focused on the design, manufacture, sale and distribution of the AeroForm® Tissue Expander System), announced that it has appointed a new President and CEO, Mr. Frank Grillo. Mr. Grillo commenced employment on June 12, 2018 in the U.S. The specific terms of Mr. Grillo’s employment have been released separately. Mr. Grillo will also be appointed to the Board of Directors.
Mr. Grillo joins AirXpanders with a distinguished career in the U.S. medical device industry. He previously served for ten years in multiple roles with Boston Scientific Corporation, including Vice President, Marketing for its Women’s Health, Urology/Gynecology Division. Mr. Grillo was then recruited to Kyphon, where he led the marketing organization for its U.S.$400 million U.S.-based business as Vice President, Marketing and Business Development. He was a key member of the team involved in the sale of Kyphon to Medtronic for U.S.$4.2 billion in 2007. Mr. Grillo then joined Intuitive Surgical, Inc. where he was a senior executive responsible for the marketing and business development function for the multi-billion-dollar surgical systems company. As Vice President, Marketing and New Business Development, he directed the company’s marketing strategy and implementation of marketing programs; oversaw all product launches worldwide; and organized and managed initiatives to drive both procedural adoption and sales in numerous surgical specialties while providing oversight for acquisition, licensing and development activities. Most recently, Mr. Grillo was at MRI Interventions, where he served as President and CEO.
Mr. Grillo holds a Bachelor of Science in Chemical Engineering from Tufts University and a Master of Business Administration in Marketing, Finance and Operations from the J.L. Kellogg Graduate School of Management at Northwestern University.
Mr. Barry Cheskin, Co-Founder and Chairman of the Board said, “We are delighted to have attracted and hired such a high-caliber CEO. Frank’s experience and track record in all aspects of the medical device business, including marketing, business development, sales growth and operational efficiency will serve our company well.”
“I am excited to join AirXpanders, and to continue driving the adoption of the AeroForm® tissue expander,” said Mr. Grillo. “AeroForm is an innovative product, uniquely suited to transform post- mastectomy tissue expansion. The product is highly innovative, the market is significant, and surgeons are very interested in the ability to streamline this important step in recovery for their patients. I am excited to take on the leadership of the company and pursue the great opportunity in front of us.”
Mr. Cheskin added, “The Company has made excellent progress over the last few months in reducing costs and improving the efficiency of the sales process. I would like to personally thank Scott Murcray, our interim CEO, for his outstanding leadership during this period.”
Mr. Grillo is expected to lead AirXpanders’ 4C investor call in July where he will provide a business update.