Morrisville, North Carolina-based Magstim Group Inc, a provider of trans-cranial magnetic stimulation and intraoperative nerve monitoring, has named Dr. Lothar Krinke as CEO. Previously, Krinke was general manager of Medtronic’s global deep brain stimulation business. The appointment is effective immediately. Magstim is backed by Telegraph Hill Partners.
MORRISVILLE, N.C., June 15, 2017 /PRNewswire/ — Magstim Group, Inc., the pioneer in trans-cranial magnetic stimulation and intraoperative nerve monitoring, today announced that it has appointed Lothar Krinke, Ph.D., as Chief Executive Officer effective immediately. Dr. Krinke will serve on the Board of Directors of Magstim. He will be responsible for Magstim and Technomed.
Lothar led Medtronic’s global Deep Brain Stimulation business as General Manager for six years during a rapid growth phase after heading up several functions in its Neuromodulation business. His experience is broad, including serving as Vice President of Business Development at Celera Genomics, as well as Vice President in AT Kearney’s New York office and as Senior Engagement Manager at McKinsey & Company. He completed his post-doctoral training at the California Institute of Technology and holds a Ph.D. from the University at Albany.
“I am thrilled to join Magstim. Patients suffering from depression urgently need treatment options and repetitive transcranial magnetic stimulation (rTMS) is a non-invasive technology that can help many people around the world. There are many patients that do not know about this option, and we want to change that and give them hope. Magstim has pioneered the field of TMS and intraoperative monitoring for years and I am honored to bring the organization to the next level of excellence,” said Krinke.
“Lothar will transform Magstim into a world class growth business,” said Matt Mackowski, the Chairman of the Board. “His experience leading a global neuromodulation business and his passion for innovation, customer satisfaction and development of high performance teams make him the ideal leader for our company.”
Telegraph Hill Partners (THP) acquired the Magstim Company in 2015. In 2016, THP also acquired Technomed, a key player in the Intraoperative Nerve Monitoring Business.
About Telegraph Hill Partners
Telegraph Hill Partners, based in San Francisco, CA, is a private equity investment firm specializing in life science and medical device businesses. The firm targets investments in private companies that demonstrate strong financial performance and innovative products or services. Additional information can be found at http://www.thpartners.net/.
Magstim is the leading provider in advanced Neurostimulation products, Transcranial Magnetic Stimulation solutions, tDCS and Neuronavigation. The company’s trans-cranial magnetic stimulation device has FDA approval for treatment of major depressive disorder. Additional information can be found at http://www.magstim.com/
Technomed is an innovator in intraoperative nerve monitoring accessories, and has over 35 years experience in development, manufacturing and commercialization of bio-electric accessories. Technomed offers a full line of high-quality electrodes for the IONM, EMG, and EEG markets, and provides turnkey services that transform ideas into customized products. Additional information can be found at http://www.technomed.nl/