Revamp Medical Announces Appointment of Mike Favet as CEO

NETANYA, Israel, March 21, 2024 /PRNewswire/ -- Revamp Medical, Inc., a privately held clinical-stage medical technology company committed to developing solutions for Heart Failure congestion management, today announced the appointment of Mike Favet as Chief Executive Officer and member of the Board of Directors. 

"Mike brings a distinguished track record of successful leadership in medtech and is ideally suited to build Revamp Medical from the solid foundation being demonstrated in the U.S. Early Feasibility Study through the pivotal trial to support FDA approval" said Mike Berman, a Board Director of Revamp Medical. "With over 20 years of senior executive experience leading innovation and developing new therapies in medical technologies, Mike brings invaluable experience, skills and insight that will deliver this important medical advancement to patients. At the same time, on behalf of the Revamp Medical board, I would like to acknowledge and thank Yael Shohat for all that she has done to lead the Company for the past 18 months." Yael will remain an important member of the Revamp team as Chief Operations Officer.

Mr. Favet has more than 20 years of executive level experience successfully building, growing, and leading medical technology companies. He most recently worked as the CEO of NeuroPace where he led a significant commercial expansion and took the company public in 2021. Prior to NeuroPace, Mr. Favet served as Managing Director for KCK Medtech, a leading investment firm in medical technologies. He also held senior management positions at a variety of medical technology companies, including Advanced Cardiac Therapeutics, Sonitus Medical, Boston Scientific and Guidant. Mr. Favet holds a Bachelor of Science in Mechanical Engineering from the University of Illinois and a Master of Business Administration degree from the Carlson School of Management at the University of Minnesota.

"I am thrilled for the opportunity to join Revamp Medical at this significant juncture," said Mr. Favet. "Early clinical study results with the DorayaTM device, including the interim results of the U.S. early feasibility study presented by Dr. Zier at the recent THT conference, show great promise to help patients admitted to the hospital with acute decompensated heart failure. I look forward to further building the clinical evidence and bringing Doraya to the market. I am excited to work with our talented team to build on the Company's success."

About Revamp Medical

Revamp Medical is dedicated to improving outcomes for patients with acute decompensated heart failure (ADHF) through novel technology designed to alleviate congestion due to fluid overload. Approximately 1.8M patients are admitted to hospitals with ADHF in the United States annually and it is the leading cause of hospitalization in patients over 65 years old. Approximately 30% of those patients have an insufficient response to the current standard of care, which includes intravenous diuretics, resulting in longer hospital stays, hospital readmissions, persistent symptoms of congestion and higher mortality. The Company's DorayaTM device is a catheter delivered flow modulator placed temporarily in the inferior vena cava just below the renal veins. Doraya is designed to lower central venous pressure (CVP) and renal afterload, thereby improving renal filtration and responsiveness to diuretics. Patients are currently being enrolled in a U.S. feasibility study to evaluate the potential of this novel approach in the treatment of ADHF. Doraya is limited by Federal law to investigational use only and is not approved for sale. Please visit www.revampmedical.com for more information.

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SOURCE Revamp Medical