iCAD announced that its board of directors has appointed Stacey Stevens as president and CEO, effective March 1, 2022. This move continues the 2021 trend of medtech companies undergoing leadership shifts.
Stevens has been the president of the Nashua, NH-based company since 2019, but new to her duties is the CEO role. She succeeds Michael Klein, who will continue to serve as chairman of the board of iCAD.
iCAD makes devices for cancer detection and radiation therapy.
Stevens served as Executive Vice President and Chief Strategy and Commercial Officer from 2017-2019. Stevens joined iCAD in 2006 as Senior Vice President Marketing and Strategy. Before joining iCAD, she held numerous commercial leadership positions in multiple business units at Philips Healthcare.
“I am honored to have the opportunity to lead the company at this exciting time of our growth,” Stevens said in a press release. “iCAD’s technologies provide superior clinical performance, workflow improvements and a broad economic value proposition in healthcare for both clinicians and patients. We improve patient care and optimize outcomes, which ultimately translates into improving, prolonging and saving lives. I look forward to working with our talented and passionate team to drive the company forward as we continue to develop our business and technology, drive sustainable market leadership and create additional significant shareholder value.”
Marie Thibault, an analyst at BTIG and former editor-in-chief of MD+DI, wrote in a research note that Stevens’ appointment was highly beneficial.
“Stevens has been with iCAD since 2006 and has been a visible, respected part of the leadership team as president since 2019,” wrote Thibault. “We expect her to be a capable leader and believe that choosing a CEO who is known to investors will likely result in a smoother transition.”
There are many changes underway in the leadership of medtech.
In August, Johnson & Johnson CEO Alex Gorsky said he would be stepping down from the position on January 3, 2022, due to family reasons. Gorsky will serve as executive chairman of Johnson & Johnson and hand over the role of CEO to Joaquin Duato, currently vice chairman of the company’s executive committee.
Following the transition from the CEO role, Duato will also be appointed to the company’s board of directors.
Princeton, NJ-based Integra Lifesciences said in October that its president and CEO Peter Arduini will step down at the end of the year to take over the helm of GE Healthcare. Kieran Murphy, the current CEO of GE Healthcare, is retiring.
A few months after Arduini was announced to step down, Integra said health care veteran Jan Dewitte would be his replacement.
And at the beginning of the month, Titan Medical’s president and CEO, David McNally, resigned. Paul Cataford, chairman of the board, has been named interim president and CEO and the company will begin a search to identify a permanent CEO in early 2022.