Acera Surgical Announces Michael Finegan as New CEO
12 May 2022
Acera Surgical, Inc. (Acera), a leading bioscience company developing and commercializing a portfolio of fully synthetic materials for regenerative medical applications, today announced that Michael Finegan is joining the company as CEO, effective immediately.
Both Agnès Rey-Giraud and Jake Wilson, former co-CEOs of Acera, will remain as board members.
Finegan is a healthcare veteran known for his success in commercializing medical device technologies and implementing successful strategies to drive both organic growth and growth through business development.
"Mike joins as the right person at the right time to lead Acera," said Agnès Rey-Giraud, founder of the company and outgoing co-CEO. "Acera is poised to move into a phase of dramatic growth with the increasing success of our product portfolio, both current and future. With CMS granting Restrata® its own product code for use as a synthetic skin substitute, all wound care sites of service are now open to Acera."
Finegan said, "Acera has the potential to become the market leader in synthetic wound repair, and I'm confident that the company's next few years will see extraordinary success. I'm thrilled to be joining the company at this exciting time and honored to be joining a team of dedicated, caring employees who work every day to improve the health of patients facing serious medical conditions."
Before launching a consultancy focused on medical device and technology companies in 2021, Finegan spent 14 years at Orthofix, one of the country's leading medical device companies. There, he served in roles of increasing responsibility, including seven years as chief strategy officer. Among his accomplishments at Orthofix, Finegan created and then led a stem-cell based biologics business that quickly reached $75 million in annual revenue.
Jake Wilson, outgoing co-CEO of Acera, said, "Mike is well-known and well-respected in the industry. He excels at aligning his teams with strategic development goals and creating a culture of innovation, disciplined growth and rigorous attention to market needs. At the same time, Mike's focus never wavers from the patients' well-being that he and his teams serve."
Before his tenure at Orthofix, Finegan served more than 16 years in a variety of roles at Boston Scientific, including as vice president of corporate sales and as vice president of national accounts. He holds a degree in economics from Wake Forest University.
Restrata is a fully synthetic hybrid-scale fiber matrix, indicated for use in a variety of wounds including surgical wounds, trauma wounds, and chronic wounds such as diabetic foot ulcers and venous leg ulcers. Restrata is manufactured with synthetic bioresorbable polymers and possesses a fibrous structure with high porosity. The product architecture, which is similar to native extracellular matrix, allows for cell ingress and retention, as well as neovascularization of the newly forming tissue without the need for added growth factors. As the wound healing process progresses, Restrata completely degrades via hydrolysis, leaving native tissue in its place. Restrata is shelf stable and carries a two-year shelf life.
About Acera Surgical, Inc.
Born from research and bold patient-focused innovation, Acera is a bioscience company developing and commercializing groundbreaking soft-tissue repair products. Acera's synthetic hybrid-scale fiber matrices are designed to be structurally similar to human tissue, resist enzymatic degradation, offer both flexibility and strength, and allow more effective healing before completely resorbing. At Acera, we are Revolutionizing Healing, Changing Lives. Additional information about Acera, its technology and products may be found at www.acera-surgical.com.