Under Mr. Nickels’ leadership, the company established a nationally recognized medical advisory board of orthopedic spine surgeons and physiatrists (rehabilitation physicians) that used the technology for non-surgical mechanical back pain patients or those participating in studies. The first 12 months of product sales reached $1.4M by utilizing a distributor network focused on 20 major cities. Mr. Nickels also lead the sale of the business that provided a liquidity event for stockholders at a valuation of 4.3x trailing 12-month revenue and assumption of certain liabilities/incurred debt. Purchase of the company’s assets included three issued patents and six pending applications.
In recognition of his significant industry experience and contributions, Mr. Nickels was nominated in 2009 to the Advanced Medical Technology Association (AdvaMed) CEO Advisory Council, which invites influential leaders in the medical technology industry to participate in the policy development process by addressing critical challenges in the healthcare industry. The organization advocates for a legal, regulatory and economic environment that advances global health care by assuring worldwide patient access to the benefits of medical technology.
Mr. Nickels currently serves on the Board of Directors for Rapid Diagnostek, Inc., a medical technology company developing a new generation of in-vitro diagnostic tests
Full biographies, unique experience, expertise & accomplishments of each advisory board member:
- Neil J. Campbell,
M.A., M.B.A. – Chairman - Kevin Carroll
- Edward L. Erickson
- Daniel D'Agostino
- Nigel Gaymond, M.A.
- David M. Koeninger
- Udo Klein, Ph.D.
- Stefan Loren, Ph.D.
- Kevin Nickels
- Rick Pierce
- Robin Pratt, Ph.D.
- Linda M. Pullan, Ph.D.
- Dane Saglio, C.P.A.
- Peter G. Savas
- Chris Ward
- Ruth Williams, Esq.
Kevin Nickels most recently served as president and CEO of Celleration, Inc., a venture backed commercial company with a novel low-frequency ultrasound wound-healing technology called MIST Therapy®. During his nine years as CEO, Mr. Nickels led the company out of dire conditions in 2001 and ultimately powered the company through multiple rounds of debt/equity financing exceeding $70M commercialized. These efforts enabled a once unproven-disruptive technology to receive FDA clearance in 2004, capture a unique CPT code in 2007 and win initial reimbursement coverage by four CMS Payers that began in 2008. Commercialization has occurred through a hybrid of independent and direct sales focusing on 20 territories and grew from $1M in 2005 to $9.8M in 2008.
Prior to Celleration, Mr. Nickels was president and CEO of Kinesis Medical, Inc., a creative firm specializing in medical branding, medical Web sites, marketing, and graphic design. During his four years with the company, he established and led a medical device startup from the concept stage through product development, launch and market development, achieving a revenue run rate of $2M in three years. The business ultimately obtained clinical and economic efficacy data for a first-to-market product that was receiving third party reimbursement.
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