HOUSTON–(BUSINESS WIRE)–Velentium, a medical contract design and manufacturing organization that specializes in active implantable medical devices, today announced two key appointments: Matt Hanks, formerly Chief Operating Officer, has been named the company’s Chief Executive Officer; and Dan Purvis, Velentium’s Co-Founder and former CEO, will transition to the role of Board Chair.
Matt Hanks joined Velentium this year as COO, bringing over 30 years of operations expertise in strategic growth and operational efficiency to the firm. He began his career at Form Technologies, advancing through roles in supply chain, operations, and IT before being appointed senior leadership positions at Paragon Medical, United Technologies, and General Electric.
“I’ve seen firsthand the rapid innovation and growth that Velentium has achieved, and I am honored to lead our team through an exciting new chapter,” said Hanks. “Velentium is committed to changing lives for a better world, and with our expertise in neuromodulation, active implantables, test systems and cybersecurity, we are uniquely positioned to benefit clinicians and patients globally.”
Dan Purvis, who co-founded Velentium in 2012, will continue to guide the company’s strategic direction in his new role as Board Chair. Under his leadership, Velentium has established itself as a trusted partner in the medical device industry.
“In 12 years, Velentium has grown from an idea to a vibrant, dynamic company based on values that continue to drive our work in improving patient outcomes and enhancing global health care delivery,” said Purvis. “I’m proud of what this team has accomplished, and I have the utmost confidence that Matt’s leadership, experience, and dedication to operational excellence position Velentium for continued success.”
In 2021, Velentium announced a growth recapitalization in partnership with leading health care investment firm Great Point Partners to scale operations and fuel global expansion.
“Matt’s operational expertise, proven track record, and deep understanding of the medical device industry makes him an ideal leader to guide Velentium through its next phase of growth,” said Eddie Hjerpe, Senior Vice President at Great Point Partners and board member of Velentium. “Combined with Dan’s strategic oversight as Board Chair, these leadership changes position Velentium for sustained success in delivering innovative solutions within the rapidly evolving medical device industry.”
About Velentium
Velentium is an ISO 13485 and FDA registered Houston-based contract design and manufacturing organization specializing in the end-to-end design, development, manufacturing and post-market support of therapeutic and diagnostic active medical devices. The company’s core competencies include active implantable medical devices, systems engineering, firmware & software, cybersecurity, mobile & cloud, electrical & mechanical engineering, human factors & usability, automated test systems, and CGMP manufacturing. With customers all over the world, Velentium has experience working with all sizes of clients, ranging from startups seeking seed funding to established Fortune 500 companies.
About Great Point Partners
Great Point Partners, founded in 2003 and based in Greenwich, CT, is a leading health care investment firm with 30 professionals, investing in the United States, Canada, and Western Europe. GPP is currently making new minority and majority private equity investments from GPP IV. Great Point manages approximately $1.5B of capital (including committed and uncalled capital) in its private funds and public life sciences equity fund (BioMedical Value Fund). Great Point Partners has provided growth equity, growth recapitalization, and management buyout financing to more than 100 growing health care companies. The private equity funds invest across all sectors of the health care industry with a particular emphasis on biopharmaceutical services and supplies, alternate site care services, medical device contract manufacturing and information technology enabled businesses. The firm pursues a proactive and proprietary approach to sourcing investments and tuck-in acquisitions for its portfolio companies.
