CorWave, a medtech company focused on the development of an innovative left ventricular assist device (LVAD), has announced today the election of Jim Schuermann to its board of directors. A press release states that Schuermann was instrumental in transforming HeartWare—a LVAD start-up valued around $100M when he joined—into a $Bn Nasdaq-listed company. As senior vice president sales & marketing, he led a rapid commercial scale-up from 0 to about $300M in annual sales.
The press release adds that after HeartWare’s $1.1Bn acquisition by Medtronic in 2016, Schuermann became vice president and general manager of Medtronic’s Mechanical Circulatory Support Division—a newly formed business unit. In 2018, he joined Avedro as Chief Business Officer. Avedro went public on the Nasdaq in early 2019 and was acquired by Glaukos in late 2019 for about $450M. Prior to joining HeartWare, Jim spent nearly a decade at Boston Scientific, where he held several sales and marketing leadership roles, eventually reaching global Director of Marketing of the company’s $235M Endourology franchise.
Schuermann comments: “I have been fortunate to see the LVAD space grow tremendously over the last decade. Nevertheless, the high rate of severe complications linked to current LVADs is holding back the market. I am excited to join the CorWave team and look forward to contributing to the development of this disruptive LVAD technology, which is the game-changer the market is looking for.”
Louis de Lillers, CEO of CorWave, says: “Jim is a highly respected and experienced manager with compelling LVAD industry success. I am thrilled to work with him, because he has a perfect understanding of the challenges of heart failure and LVAD markets. He is a solid asset to the team, and we will benefit from his extensive experience to grow CorWave into a global leader in heart failure therapies.”