Versa Vascular, Inc., a pioneering medical device company dedicated to transforming tricuspid valve disease treatment, announced the appointment of Bill Shields as Chief Executive Officer. Former Versa CEO David Hovda is retiring and will remain an advisor to the company.

Shields spent the last 15 years with Medtronic’s structural heart franchise, most recently as Vice President and General Manager of its Transcatheter Mitral and Tricuspid Therapies division, where he spent seven years leading product development and multiple clinical studies. Previously, he led upstream and downstream marketing for the company’s transcatheter valve programs over eight years, including multiple successful product launches. Earlier, he served as a senior engineer with Stryker, inventing and developing new orthopedic devices. Shields received a bachelor’s degree in mechanical engineering from Dartmouth College, and an MBA from Northwestern University’s Kellogg School of Management.

The company also announced a $15 million expansion to its Series C, bringing the total committed capital for the round to $42 million. This additional funding will support completion of the ongoing first-in-human clinical study of the company’s novel AdapTR™ transcatheter tricuspid repair device outside of the U.S., a U.S. Early Feasibility Study of the technology, and further product development and optimization.

“I am thrilled to join Versa Vascular at a time when we are seeing positive results clinically, close to expanding our clinical work to the U.S., and receiving continued investor confidence,” said Shields. “I have seen and launched a number of innovative transcatheter devices in my career, and the AdapTR technology shows similar promise to create a superior therapy for patients. I want to thank David Hovda and the team for their commitment to product development and refinement that has led to a truly novel solution that is showing it can have a positive impact on patients’ lives.”

“We strongly believe in Versa’s vision to improve the lives of patients with tricuspid disease, and we are proud to continue supporting the company as it executes on its clinical milestones,” said Brian R. Smith, founder and Managing Director of S3 Ventures.

“We also enthusiastically welcome Bill Shields to the Versa team,” said Louis A. Cannon, MD, Founder of BioStar Capital. Dr. Cannon notes, “Bill’s deep structural heart expertise, experience developing new transcatheter therapies, scaling up operations, and strong industry connections align closely with BioStar’s mission to improve patients’ lives.”

Heart disease remains the leading cause of death worldwide, claiming a life in the United States every 33 seconds. More than 7 million Americans are currently living with heart valve disease, a complex condition made up primarily of dysfunctional mitral and tricuspid valves. Traditional treatment options, most commonly open-heart surgery, are contraindicated or pose high procedural risk for a substantial portion of patients. Versa Vascular is developing a transcatheter tricuspid repair therapy to address this critical unmet need designed to expand treatment access for patients and anatomies that have historically lacked viable options.

The Versa Solution

Versa’s proprietary tricuspid repair technology combines a simple implant design with an intuitive, highly capable delivery system:

  • Advanced implant design designed to support native leaflet function

  • Innovative and simple-to-use delivery system

  • Precise implant control with ability to reposition

  • Simplified intraprocedural imaging with atrial device positioning

About Versa Vascular, Inc.

Versa Vascular is a medical technology company dedicated to transforming the treatment of tricuspid valve disease through innovative, minimally invasive solutions. The company’s tricuspid repair technology is designed to provide effective treatment for patients with severe tricuspid regurgitation who currently have limited therapeutic options. Versa Vascular combines engineering excellence with clinical insights to create meaningful advances in structural heart interventions. For more information, visit www.versavascular.com.

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