Monday, December 22, 2008

Bowen takes CFO helm at Abiomed

By Mass High Tech staff

Medical device maker Abiomed Inc. has named Robert L. Bowen as vice president and chief financial officer.

The new CFO spent the last three years as vice president and CFO of Bedford-based laser and precision motion supplier GSI Group, where he led the consolidation of financial operations, helped evaluate a China-based joint venture and helped with the acquisition of Excel Technologies Inc.

Prior to joining GSI Group, Bowen served for two years as founding partner and managing director of Graystone Capital Partners, a venture capital business focused on web-based media company in China.

He has also worked as vice president and CFO of women’s health-care firm Cytyc Corp. for three years and CFO of Case Corp.’s European region for three years.

Bowen graduated from Ohio University with a bachelor’s degree in business and from New York University with a master’s degree in international business and finance.

Danvers-based Abiomed (Nasdaq: ABMD) develops the Impella, which is designed to be inserted into the body through the femoral artery to access the left ventricle, and pumps 2.5 liters of blood per minute into the ascending aorta, according to the company. The device is intended for use on patients in critical situations for up to six hours. Abiomed said the Impella is now cleared for the market in 40 countries, and it has been used in 1,500 patients.

Abiomed employs 300 workers and reported a loss of $27.8 million on revenue of $50.6 million for 2007.