Surgeries that were once difficult to do, requiring lots of cutting and rather long healing times can now be done with minimal invasiveness that requires much less healing times. LumeNXT made co-founder Marc Beer Chairman of the Board recently. LumeNXT is a company poised to make great technological inroads into the non-tethered, light emitting diode (LED) technology in the surgical device space. Mr. Beer has been working in the pharmaceutical industry for many years prior to founding LumeNXT. He has been working on developing biotechnology, devices and diagnostic processes and machines from his position in the pharmaceutical industry for over 25 years. Mr. Beer co-founded this company with Paul Rhyne, who is also the CEO of LumeNXT.
Many people have ideas on how to make process improvements in the industries in which they work. Companies, however, often times are not exactly able to cultivate the many good ideas that their employees have. Every once in a while, a few people come together and build a company that had been thinking about for a while. Mr. Beer spent many years in pharmaceuticals, then in founding this company, he is able to architect a future based on the amalgamation of ideas he gathered while working for over 2 decades in this industry. He now works with a team of surgeons, engineers and other dedicated professionals that have also worked in the medical device space, as well as with medical technologies and pharmaceuticals for years. Marc Beers says he is very proud to be working with this near-dream team on a daily basis. He mentions that his company is set for expansion as more surgeries are done in a minimally -invasive fashion.
The more surgeries are able to be done in this way, the less healing and recuperation time will be necessary and this all means savings for insurance companies, like Medicare for example. In addition, our elderly cannot withstand a lot of procedures because of the invasiveness, so this technology spawns both savings and the ability for certain candidates to get surgeries that could extend their lives and that they otherwise might not be eligible for. The focus of LumeNXT has been to deliver solutions, in the form of diagnostic and therapeutic devices, for women with pelvic floor disorders. This kind of technology will, therefore, help with incontinence and also help women get pregnant, by keeping the uterus in place with advanced musculature, and also brings reassurance to women with these types of disorders that they can carry a baby to term.
Marc Beer has been in and around this entire industry for many years, working on an international level, bringing companies public and all while he was working to advance medical technology. LumeNXT is as of yet privately held, but this certainly does not mean it is going to stay that way. Mr. Beer, with his IPO experience, was also a founder of Good Start Genetics and CEO of ViaCell, so he may well bring this company public as well. In addition to the work he has done with other companies, he also worked in several capacities with Abbott Laboratories and was a member of the Mass Life Science Board in Massachusetts. Learn more: https://www.bizjournals.com/boston/news/2018/08/21/ex-aegerion-chief-beer-raises-42m-for-womens.html