Steven Duddy has been appointed the new President and Chief Executive Officer of Corinth MedTech. He assumes day-to-day leadership of the Company and will also join the Corinth MedTech’s Board of Directors.
“Steve brings an exemplary track record of executive skills combined with business vision gained through his global leadership in the medical device arena,” said Csaba Truckai, founder of Corinth MedTech and the Veloxion System. “His success in developing go-to-market commercialization strategies will be invaluable to the company and make him an excellent fit for the position and the organization.”
“This is a very exciting time for Corinth MedTech and its Veloxion System, which has a strong intellectual property position and tremendous potential to improve patient health. I am honored to lead the company and look forward to the opportunity to build a powerful commercial brand,” said Steve Duddy.
The Veloxion System is an extremely versatile medical device with FDA clearances for both Urology and GYN applications. The company will focus its initial efforts on relieving the symptoms of BPH (Benign Prostatic Hyperplasia) and TURBT (Transurethral Resection of Bladder Tumor). About 300,000 men suffer from BPH symptoms requiring surgical treatment, and approximately 400,000 patients require TURBT procedures annually. Market estimates show the CAGR (Compounded Annual Growth Rate) for devices used to treat these conditions to be well into the double digits over the next several years. Corinth MedTech projects a combined $2 billion plus global market opportunity for its Veloxion System.
Located in Cupertino, CA, Corinth MedTech is committed to advancing innovative surgical access and treatment systems to resolve various urological disorders to improve patient health and meet both physician and institutional needs in a cost-effective manner. The company has developed a bipolar transurethral and transcervical resection system intended for endoscopically controlled tissue resection and removal for male patients diagnosed with benign prostatic hyperplasia (BPH), bladder tumor, and female patients requiring hysteroscopic tissue resection for various untrauterine pathology.