California-based medtech company Versa Vascular has appointed Bill Shields as its new chief executive officer, bringing extensive structural heart and medical device experience to the company as it advances its tricuspid valve technology.
Shields spent 15 years at Medtronic’s structural heart division, most recently serving as vice president and general manager of transcatheter mitral and tricuspid therapies. Prior to Medtronic, he held senior engineering roles at Stryker, where he worked on the development of new orthopedic technologies.
Shields succeeds David Hovda, who was named CEO by Versa Vascular in September. Hovda is now retiring from the position but will remain involved with the company as an advisor.
Advancing Tricuspid Valve Therapy
Founded in 2020 and launched through the Occam Labs medtech incubator, Versa Vascular is focused on developing therapies for patients with tricuspid valve disease. Its flagship product is the AdapTR transcatheter tricuspid repair device, which is currently being evaluated in a first-in-human clinical study.
Shields said he was joining the company at an important stage, with positive clinical results emerging, plans to expand clinical work into the United States and continued investor support.
Drawing on his experience developing and launching transcatheter technologies, Shields said the AdapTR platform demonstrated potential to deliver an improved treatment option for patients. He also credited Hovda and the Versa Vascular team for advancing the device through product development and refinement.
Reflecting on his departure from Medtronic, Shields expressed gratitude toward the colleagues, mentors and teams he worked with during his 15-year tenure, highlighting the professional relationships and lessons gained throughout his career.
Versa Vascular Series C Funding Reaches $42 Million
Alongside the leadership transition, Versa Vascular announced that its Series C financing has reached $42 million. The company had previously reported $27.3 million in Series C funding before securing an additional $15 million.
The latest capital is expected to support continued clinical research for the AdapTR device as well as further product development. The funding provides Versa Vascular with additional resources as it works toward expanding its clinical program and advancing its tricuspid repair technology.
With a new CEO bringing deep structural heart expertise, an ongoing first-in-human study and additional financing secured, Versa Vascular is positioning itself for the next phase of clinical and product development.
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