Sotera Wireless Inc. Expands Board of DirectorsMonday, June 10, 2013
Sotera Wireless Inc., a San Diego company that has developed a wireless patient monitoring system, has grown its board of directors.
It has appointed Charles Sted, the former president and chief executive of four-hospital and 49-clinic health system Hawaii Pacific Health, to its board. Hawaii Pacific Health produces about $1 billion in annual net revenue, Sotera said. Sted was also previously a partner at global accounting firm Ernst & Young.
Sotera also recently appointed Bert Zimmerli, chief financial officer of Intermountain Healthcare, to its board. Intermountain Healthcare is a Utah-based nonprofit system with 22 hospitals, 185 clinics and a medical group of about 1,000 physicians.
It is currently piloting Sotera’s Visi Mobile System, which continuously monitors a patient’s core vital signs — blood pressure, heart rate, blood oxygen level and skin temperature — in a small, body-worn package.
“We believe that Sotera is among those companies leading the transformation of health care and is committed to filling a significant unmet clinical need,” Zimmerli said. “We are very interested in working with organizations like Sotera that share our vision of providing higher quality care at a reduced cost.”
Earlier this year, Sotera received $14.8 million in financing from a group of investors that includes Safeguard Scientifics Inc., a Wayne, Penn.-based holding company that provides growth capital and operational support to health care and technology companies. It is piloting the Visi system in a number of hospitals around the country.
— Meghana Keshavan