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Bioheart bulks up management team

This article was originally published in Clinica

Executive Summary

Several board members of Bioheart, a specialist in cell-based therapies for treating heart disease, have joined the Sunrise, Florida company's management team. Chairman Karl Groth has assumed the additional role of CEO; Peggy Farley is now chief operating officer; and Mark Borman is chief financial officer. In order to focus on building the company's technologies, Bioheart founder Howard Leonhardt has resigned as director, but will continue as chief scientific and technology officer, and chairman of the scientific advisory board. Dr Groth's experience includes helping to establish Medtronic's neuro division and leading several start-up companies to successful exits. These include InStent, which was bought by Medtronic, and Heart Technology, which was acquired by Boston Scientific. Ms Farley comes from an investment banking background and she has been working with Dr Groth since 1999 to build venture capital firm the Ascent Group. Mr Borman has worked as CFO in several technology companies, including ADC Telecommunications and General Instrument.

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