Neuronetics (NASDQ:STIM) appointed Keith Sullivan as president and CEO, effective immediately.
Christopher Thatcher, the company’s previous president and CEO, resigned in March 2020.
Mr. Sullivan has more than three decades of medical device industry experience and most recently served as president and CCO of ZELTIQ Aesthetics, which was subsequently acquired by Allergan (NYSE:AGN).
“[Mr. Sullivan’s] track record includes successfully growing multiple [medical technology] businesses, driving innovation and impressive market development,” Brian Farley, Neuronetics’ chairman, said in a statement.
“We believe that [Mr. Sullivan’s] experience in commercializing products that involve both capital equipment and recurring revenue streams is an excellent fit with Neuronetics, and I am confident his public company experience and leadership skills further position Neuronetics extremely well for strong execution,” he added.
The company is developing Neurostar, a transcranial magnetic stimulation device that delivers a non-invasive form of neuromodulation. NeuroStar was granted FDA breakthrough device designation in March 2020.