Tuesday, April 14, 2009

Frank Martin made NMT’s permanent CEO, president

By Mass High Tech staff

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NMT Medical Inc., a Boston-based device maker, has named Frank Martin as its permanent president and CEO. Martin had been serving as interim president and CEO following the February retirement of former president and CEO John Ahern.

Martin said in a statement that he plans to transition NMT’s focus on research and development to one emphasizing the sales and marketing of its BioSTAR product, a bioabsorbable septal repair implant for the heart. The company, as a whole, develops implant technologies that treat structural heart disease using minimally invasive, catheter-based procedures.

A previous statement about Martin’s interim position noted the now-president and CEO’s tenure on the NMT board since 2001. Martin has been CEO of several interventional cardiology device companies and has served as an advisor and consultant to global venture capital firms, corporations and entrepreneurs.

NMT Medical (Nasdaq: NMTI) also reported that board director James Lock is not seeking re-election, though he will serve as an advisor to NMT’s scientific advisory board.