August 8, 2016Bionik Laboratories Appoints Timothy A. McCarthy as Chief Commercialization Officer and Expands Commercial Team
Experienced commercial leader in medical and healthcare technology
Top-producing and results-oriented leader with 20+ years of accomplishments in
developing commercial strategies, building world class global organizations and
growing multimillion-dollar revenues
Additional key appointments for expansion of sales representatives named to launch
commercial strategyTORONTO and BOSTON, Aug. 08, 2016 (GLOBE NEWSWIRE)
-- Bionik Laboratories
Corp. (OTCQX:BNKL) (“Bionik” or the "Company"), a global pioneering robotics company
focused on providing rehabilitation solutions to individuals with neurological disorders,
announced today that it has appointed Timothy A. McCarthy to its Management Team as
Chief Commercialization Officer. Mr. McCarthy is a well-established and successful
commercial leader in medical and healthcare technology. The Company also announced
the addition of Steven L. Brown and Jon C. King to its newly formed global
Peter Bloch, Chief Executive Officer and Chairman of the Board, stated, “We are delighted
to have Tim join the Bionik team. As a renowned expert in commercialization, and with the
experience he brings, we look forward to driving forward a strong commercial engine, the
number one priority for our growth strategy. This key strategic appointment is another
step for Bionik in positioning the Company as a leader in the robotics medical technology
and device space and propels us closer to bringing more effective rehabilitation solutions
to those with neurological disorders by utilizing innovative technologies and robotics.”
Timothy A. McCarthy joins the Bionik team having recently served as the Chief Executive
Officer of Medical Compression Systems, Inc., a medical device company specializing in
compression therapy to prevent DVT and improve wound healing for joint replacement
patients. He was recruited as the top executive at MCS to lead a commercial stabilization
and turnaround effort in order to prepare the company for an M&A process seeking a
strategic partner. Prior to that, Mr. McCarthy served as the President and CEO of iWALK,
Inc. (now known as BionX Medical Technologies), a venture backed medical robotics
company commercializing the Massachusetts Institute of Technology (“MIT”) invented
BiOM System, the world’s first and only actively powered lower limb bionic prosthesis to
normalize gait. While at iWALK, Inc. Mr. McCarthy was responsible for leading the final
product development and commercial sales strategy that led to the successful
establishment of a long-term market foothold for this new category of healthcare
technology products. In addition, Mr. McCarthy served at Össur Americas as Vice
President of Sales and Marketing, where he was promoted to the top commercial
executive and leader of a sales and marketing restructuring and growth effort, resulting in
above budget attainment each year and 4.5x revenue growth during his nine year tenure.
Mr. McCarthy also held sales leadership roles at the Chattanooga Group, Inc. (now known
as DJO Global). Over the course of his career Mr. McCarthy has proven to be instrumental
in the expansion of public, private and startup healthcare technology and medical device
“Robotic rehabilitation is an emerging market that represents a vast and growing
opportunity,” commented Mr. McCarthy. “The Bionik team and their range of robotic
rehabilitation systems show incredible promise in the robotic rehabilitation market and
ultimately beyond in the home setting. I am confident that the InMotion Systems and
ARKE have the potential to provide incredible opportunities for effective therapy for a
range of individuals suffering from neurological disorders. I look forward to leading the
Company’s commercial efforts and further advancing Bionik in this potentially fast growing
market to its next stage of growth.”
Mr. McCarthy graduated cum laude from Northeastern University with a Bachelor of
Science in Business Administration and received his Master of Business Administration
from the University of California in Los Angeles.
Bionik also appointed to its commercialization team two key sales executives, Steven L.
Brown and Jon C. King.
Steven L. Brown has over 35 years of significant contributions in key roles with industry
leaders in the field of Rehabilitation and Sports Medicine. Previous to joining the Bionik
team, Mr. Brown served as the National Business Development Manager at Bioness, Inc.
Over the course of his career, Mr. Brown has a diversified and proven management record
in sales, marketing, product management, strategic planning and commercialization.
Jon C. King is a domestic and international business development executive with over 25
years of experience in the field of Physical Medicine and Rehabilitation. Prior to joining the
Bionik team, Mr. King served as the Business Development Manager, Western Region
and Director of International Business Development at Bioness, Inc. Mr. King has a proven
history of increasing sales revenue and maintaining customer relationships on both a
national and international level.
“We are also pleased to welcome Steven Brown and Jon King to our commercialization
team. As we continue to advance Bionik and execute on our business strategy, we believe
these key appointments play an integral part in our ability to do so. We are excited to have
attracted these individuals and continue to focus our efforts on building a premier and
innovative robotics company achieving success globally,” concluded Mr. Bloch.
About Bionik Laboratories
Bionik Laboratories (OTCQX: BNKL), is a global, pioneering robotics company focused on
providing rehabilitation solutions to individuals with neurological disorders. The Company
has a portfolio of products focused on upper and lower extremity rehabilitation for stroke
and paraplegic patients, including three products on the market and three products in
varying stages of development. The InMotion Systems - the InMotion ARM™,
InMotionWrist™, InMotion Hand™ and InMotion Ankle™, are designed to provide
intelligent, patient-adaptive therapy in a manner that has been clinically verified to
maximize neuro-recovery. Bionik is also developing a lower-body exoskeleton, ARKE™,
designed to allow paraplegics as well as other wheelchair users the ability to rehabilitate
through walking. ARKE is expected to be designed to continually adapt to a patient’s ability
and provide real time feedback to the physiotherapist through the use of Bionik’s
proprietary data collection and analytics cloud network through its partnership with IBM.
For more information, please visit www.bioniklabs.com and connect with us on Twitter,
LinkedIn and Facebook.
Bionik Laboratories, Inc. Investor and Media Contact:
Jenene Thomas Communications, LLC
Source: Bionik Laboratories Corp.
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