Tom Morizio
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Bio
Robert Wilson
To Whom It May Concern: I am writing in strong support of Tom Morizio as a business leader and executive. I have known Tom throughout his tenure at Acist Medical Systems, where he served as the Chief Executive Officer. Tom came to Acist at a very difficult time for the company. Acist was a single product company in a medium-sized international market. Its sales and distribution systems were stretched thin and involved in complicated distributor and internal networks. The company had a limited strategic plan. In addition, the culture within the company had deteriorated over the prior several years. On assuming the company’s leadership, Tom immediately searched for ways to broaden the product portfolio in a very strategic way. Within a brief time, the company added a new product to measure FFR. That product had previously languished internally, but was an excellent fit with the injector business that the company was founded on. Tom then led the purchase of a Bay Area-based intravascular ultrasound company, which also meshed with the vision of providing customers with a complete diagnostic portfolio for patients with coronary artery disease. Moreover, all of these products had the same call point: cardiac cath labs and interventional cardiologists. Acist had a small domestic sales team and relied heavily on distributors outside the US. Under Tom’s leadership, the composition and organization of the sales force was changed to reflect the growing product portfolio and to compete with major players in the interventional cardiology space. He identified and led an important sales alliance with a very large medical device firm to partner for domestic distribution of Acist’s new, and more technically advanced, products. Internationally, Tom led the development of a direct sales force in large markets. Distribution in Japan was moved from a distributor model to a direct organization, including developing new logistics, a central office, a change in regulatory approval ownership, and a dedicated sales management team. In Europe, Tom led the reconfiguring of sales distribution and the building of a consolidated logistics, service, and sales management center in the Netherlands. From 2010, Tom also oversaw another entity acquired by Bracco. HLT Medical is a transcatheter valve company currently in clinical trials with a novel transcatheter aortic valve. Tom initially oversaw development of the valve, which prior to Tom’s involvement, had some engineering challenges. Tom really directed the company to improve its development processes and, in some sense, put the project back on track. Later, he hired in-house management and effectively served in the role of a Chairman. His unwavering support and ability to provide resources eventually led to a series of excellent feasibility implants. HLT is now back on track and preparing for a CE Mark Trial. Page 2 In my view, Tom Morizio took Acist form a small one product company to a multi-product company poised for su
Kevin Bassett, MBA
I have had the pleasure of working for Tom for the past three years at HLT Medical. Tom had a vision of where he wanted HLT to go and helped our team focus on how to achieve our clinical goals and bring a next-generation transcatheter heart valve to patients. Personally he not only provided professional guidance, but was an excellent manager and a joy to work for, not to mention a good friend and mentor. His professionalism and handling of crisis situations was a fantastic example of how to act under pressure. I found Tom to always show class and empathy towards both subordinates and colleagues. I would definitely work for Tom in any career situation in the future.
Chris Purdy, CPA, MBA
I have worked with Tom for the past seven years. I found Tom to be an excellent strategic thinker and organizational leader. At ACIST, Tom executed significant growth and technology strategies that expanded the market position and overall value of the company. Personally, I thoroughly enjoyed working for Tom. He has a wonderful personality, sense of humor, and gains the trust and respect of the organization and all he encounters.
Robert Wilson
To Whom It May Concern: I am writing in strong support of Tom Morizio as a business leader and executive. I have known Tom throughout his tenure at Acist Medical Systems, where he served as the Chief Executive Officer. Tom came to Acist at a very difficult time for the company. Acist was a single product company in a medium-sized international market. Its sales and distribution systems were stretched thin and involved in complicated distributor and internal networks. The company had a limited strategic plan. In addition, the culture within the company had deteriorated over the prior several years. On assuming the company’s leadership, Tom immediately searched for ways to broaden the product portfolio in a very strategic way. Within a brief time, the company added a new product to measure FFR. That product had previously languished internally, but was an excellent fit with the injector business that the company was founded on. Tom then led the purchase of a Bay Area-based intravascular ultrasound company, which also meshed with the vision of providing customers with a complete diagnostic portfolio for patients with coronary artery disease. Moreover, all of these products had the same call point: cardiac cath labs and interventional cardiologists. Acist had a small domestic sales team and relied heavily on distributors outside the US. Under Tom’s leadership, the composition and organization of the sales force was changed to reflect the growing product portfolio and to compete with major players in the interventional cardiology space. He identified and led an important sales alliance with a very large medical device firm to partner for domestic distribution of Acist’s new, and more technically advanced, products. Internationally, Tom led the development of a direct sales force in large markets. Distribution in Japan was moved from a distributor model to a direct organization, including developing new logistics, a central office, a change in regulatory approval ownership, and a dedicated sales management team. In Europe, Tom led the reconfiguring of sales distribution and the building of a consolidated logistics, service, and sales management center in the Netherlands. From 2010, Tom also oversaw another entity acquired by Bracco. HLT Medical is a transcatheter valve company currently in clinical trials with a novel transcatheter aortic valve. Tom initially oversaw development of the valve, which prior to Tom’s involvement, had some engineering challenges. Tom really directed the company to improve its development processes and, in some sense, put the project back on track. Later, he hired in-house management and effectively served in the role of a Chairman. His unwavering support and ability to provide resources eventually led to a series of excellent feasibility implants. HLT is now back on track and preparing for a CE Mark Trial. Page 2 In my view, Tom Morizio took Acist form a small one product company to a multi-product company poised for su
Kevin Bassett, MBA
I have had the pleasure of working for Tom for the past three years at HLT Medical. Tom had a vision of where he wanted HLT to go and helped our team focus on how to achieve our clinical goals and bring a next-generation transcatheter heart valve to patients. Personally he not only provided professional guidance, but was an excellent manager and a joy to work for, not to mention a good friend and mentor. His professionalism and handling of crisis situations was a fantastic example of how to act under pressure. I found Tom to always show class and empathy towards both subordinates and colleagues. I would definitely work for Tom in any career situation in the future.
Chris Purdy, CPA, MBA
I have worked with Tom for the past seven years. I found Tom to be an excellent strategic thinker and organizational leader. At ACIST, Tom executed significant growth and technology strategies that expanded the market position and overall value of the company. Personally, I thoroughly enjoyed working for Tom. He has a wonderful personality, sense of humor, and gains the trust and respect of the organization and all he encounters.
Robert Wilson
To Whom It May Concern: I am writing in strong support of Tom Morizio as a business leader and executive. I have known Tom throughout his tenure at Acist Medical Systems, where he served as the Chief Executive Officer. Tom came to Acist at a very difficult time for the company. Acist was a single product company in a medium-sized international market. Its sales and distribution systems were stretched thin and involved in complicated distributor and internal networks. The company had a limited strategic plan. In addition, the culture within the company had deteriorated over the prior several years. On assuming the company’s leadership, Tom immediately searched for ways to broaden the product portfolio in a very strategic way. Within a brief time, the company added a new product to measure FFR. That product had previously languished internally, but was an excellent fit with the injector business that the company was founded on. Tom then led the purchase of a Bay Area-based intravascular ultrasound company, which also meshed with the vision of providing customers with a complete diagnostic portfolio for patients with coronary artery disease. Moreover, all of these products had the same call point: cardiac cath labs and interventional cardiologists. Acist had a small domestic sales team and relied heavily on distributors outside the US. Under Tom’s leadership, the composition and organization of the sales force was changed to reflect the growing product portfolio and to compete with major players in the interventional cardiology space. He identified and led an important sales alliance with a very large medical device firm to partner for domestic distribution of Acist’s new, and more technically advanced, products. Internationally, Tom led the development of a direct sales force in large markets. Distribution in Japan was moved from a distributor model to a direct organization, including developing new logistics, a central office, a change in regulatory approval ownership, and a dedicated sales management team. In Europe, Tom led the reconfiguring of sales distribution and the building of a consolidated logistics, service, and sales management center in the Netherlands. From 2010, Tom also oversaw another entity acquired by Bracco. HLT Medical is a transcatheter valve company currently in clinical trials with a novel transcatheter aortic valve. Tom initially oversaw development of the valve, which prior to Tom’s involvement, had some engineering challenges. Tom really directed the company to improve its development processes and, in some sense, put the project back on track. Later, he hired in-house management and effectively served in the role of a Chairman. His unwavering support and ability to provide resources eventually led to a series of excellent feasibility implants. HLT is now back on track and preparing for a CE Mark Trial. Page 2 In my view, Tom Morizio took Acist form a small one product company to a multi-product company poised for su
Kevin Bassett, MBA
I have had the pleasure of working for Tom for the past three years at HLT Medical. Tom had a vision of where he wanted HLT to go and helped our team focus on how to achieve our clinical goals and bring a next-generation transcatheter heart valve to patients. Personally he not only provided professional guidance, but was an excellent manager and a joy to work for, not to mention a good friend and mentor. His professionalism and handling of crisis situations was a fantastic example of how to act under pressure. I found Tom to always show class and empathy towards both subordinates and colleagues. I would definitely work for Tom in any career situation in the future.
Chris Purdy, CPA, MBA
I have worked with Tom for the past seven years. I found Tom to be an excellent strategic thinker and organizational leader. At ACIST, Tom executed significant growth and technology strategies that expanded the market position and overall value of the company. Personally, I thoroughly enjoyed working for Tom. He has a wonderful personality, sense of humor, and gains the trust and respect of the organization and all he encounters.
Robert Wilson
To Whom It May Concern: I am writing in strong support of Tom Morizio as a business leader and executive. I have known Tom throughout his tenure at Acist Medical Systems, where he served as the Chief Executive Officer. Tom came to Acist at a very difficult time for the company. Acist was a single product company in a medium-sized international market. Its sales and distribution systems were stretched thin and involved in complicated distributor and internal networks. The company had a limited strategic plan. In addition, the culture within the company had deteriorated over the prior several years. On assuming the company’s leadership, Tom immediately searched for ways to broaden the product portfolio in a very strategic way. Within a brief time, the company added a new product to measure FFR. That product had previously languished internally, but was an excellent fit with the injector business that the company was founded on. Tom then led the purchase of a Bay Area-based intravascular ultrasound company, which also meshed with the vision of providing customers with a complete diagnostic portfolio for patients with coronary artery disease. Moreover, all of these products had the same call point: cardiac cath labs and interventional cardiologists. Acist had a small domestic sales team and relied heavily on distributors outside the US. Under Tom’s leadership, the composition and organization of the sales force was changed to reflect the growing product portfolio and to compete with major players in the interventional cardiology space. He identified and led an important sales alliance with a very large medical device firm to partner for domestic distribution of Acist’s new, and more technically advanced, products. Internationally, Tom led the development of a direct sales force in large markets. Distribution in Japan was moved from a distributor model to a direct organization, including developing new logistics, a central office, a change in regulatory approval ownership, and a dedicated sales management team. In Europe, Tom led the reconfiguring of sales distribution and the building of a consolidated logistics, service, and sales management center in the Netherlands. From 2010, Tom also oversaw another entity acquired by Bracco. HLT Medical is a transcatheter valve company currently in clinical trials with a novel transcatheter aortic valve. Tom initially oversaw development of the valve, which prior to Tom’s involvement, had some engineering challenges. Tom really directed the company to improve its development processes and, in some sense, put the project back on track. Later, he hired in-house management and effectively served in the role of a Chairman. His unwavering support and ability to provide resources eventually led to a series of excellent feasibility implants. HLT is now back on track and preparing for a CE Mark Trial. Page 2 In my view, Tom Morizio took Acist form a small one product company to a multi-product company poised for su
Kevin Bassett, MBA
I have had the pleasure of working for Tom for the past three years at HLT Medical. Tom had a vision of where he wanted HLT to go and helped our team focus on how to achieve our clinical goals and bring a next-generation transcatheter heart valve to patients. Personally he not only provided professional guidance, but was an excellent manager and a joy to work for, not to mention a good friend and mentor. His professionalism and handling of crisis situations was a fantastic example of how to act under pressure. I found Tom to always show class and empathy towards both subordinates and colleagues. I would definitely work for Tom in any career situation in the future.
Chris Purdy, CPA, MBA
I have worked with Tom for the past seven years. I found Tom to be an excellent strategic thinker and organizational leader. At ACIST, Tom executed significant growth and technology strategies that expanded the market position and overall value of the company. Personally, I thoroughly enjoyed working for Tom. He has a wonderful personality, sense of humor, and gains the trust and respect of the organization and all he encounters.
Experience
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Brentwood Advisory
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United States
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Business Consulting and Services
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1 - 100 Employee
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Advisor
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Apr 2021 - Present
Brentwood Advisory Group is a team of experienced executives to help mid-market companies fill key resource gaps, solve mission-critical issues, improve operating results, develop and identify talent and realize opportunities. Brentwood Advisory Group is a team of experienced executives to help mid-market companies fill key resource gaps, solve mission-critical issues, improve operating results, develop and identify talent and realize opportunities.
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RxFunction, Inc.
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United States
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Medical Equipment Manufacturing
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1 - 100 Employee
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Chief Executive Officer
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Oct 2017 - Sep 2020
RxFunction is a neuromodulation startup developing the Walkasins sensory neuroprosthesis designed to replace lost sensory information in the feet necessary for balance in patients with peripheral neuropathy. This technology quickly helps patients restore better balance and the ability to walk more safely and quickly. • Developed the business plan that established a path to commercialization in 18 months. • Successfully raised $11.5 million in capital to execute critical development, clinical, operational and early commercial activities. • Achieved FDA registration for Walkasins in Q3 2018, commercially released in Q3 2019. • Concluded long-term clinical trial early and successfully without compromising evidence quality during the Covid-19 pandemic. • Pivoted commercial strategy to open private clinics and expand patient self-pay sales during pandemic. • Built the critical capabilities of the organization while conserving total resources. Show less
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ACIST Medical Systems and HLT
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Greater Minneapolis-St. Paul Area
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President and Chief Executive Officer
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Oct 2010 - May 2017
BRACCO SpA, Milan, Italy 2010 to 2017 Privately held multinational life sciences conglomerate, including ACIST Medical Systems (leader in cardiac diagnostic systems) and HLT (an early stage heart valve business), both in Minneapolis, MN. President / CEO—ACIST Medical System and HLT - Minneapolis, MN Drove global industry leader (ACIST) to achieve sustainable growth though R&D revitalization, acquisitions and commercial development. Have full P&L responsibility for a $220M global interventional cardiology and radiology medical device business with 2014 entry into intravascular coronary diagnostics markets. Concurrent responsibility for early stage, heart valve business (HLT). Charged with building global visibility and developing third generation transcatheter aortic heart valve replacement (TAVR) system. Combined global headcount 450+ employees. • Created new strategic direction and rebuilt organization to transform ACIST from two major product platforms to four accelerating growth to a four-year revenue CAGR of 19% in 2016. • Restructured ACIST distribution channels by establishing direct operations in Japan and Italy in 2016. • Created an ACIST commercial alliance with Medtronic Coronary in 2014 to accelerate sales and marketing in the US and Southeast Asia. • Achieved ACIST break even operating profitability in 2015. • Spearheaded TAVR product development and commercial strategy readiness to optimize HLT company value, restructured program priorities to advance into human clinical trials in 2016. • Completed development and launched four major ACIST cardiovascular and radiology products through 2016 resulting in opening two new cardiovascular markets and increasing radiology market share for ACIST. • Executed 2012 acquisition and integration of Silicon Valley Medical Instruments into ACIST to expand into intravascular ultrasound market and complement internally developed fractional flow reserve technology, both approved by regulators in 2013. Show less
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Medtronic
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United States
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Medical Equipment Manufacturing
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700 & Above Employee
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Vice President of Marketing Kyphon Division
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Feb 2010 - Oct 2010
Led revitalization of balloon kyphoplasty therapy and established strategic direction of business located in Sunnyvale, California. Total team of 20.• Restructured marketing strategy resulting in focus on growing and maintaining market share in face of competition; stabilized revenue and market share.• Developed product roadmap to strengthen product line with portfolio enhancements and potential acquisitions.
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Vice President of Neuromodulation Strategy and Portfolio Planning
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Dec 2008 - Feb 2010
Realigned strategy and portfolio to accelerate growth of $1.6B Neuromodulation business serving patients with chronic pain, movement disorders, and incontinence. Total team of 15.• Optimized portfolio investment priorities towards nearer term and more attractive ROI projects, restructured competitive analysis and strategic response function for sector.
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Vice President Pain Therapies
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Aug 2006 - Dec 2008
Responsible for downstream product marketing and market growth strategy, new therapy and upstream product strategy, and leading cross-functional team to oversee business operations. Reorganized team to drive long-term growth and accelerate performance. Total team of 18.• Re-energized patient growth to 18% for spinal cord stimulation (SCS) and reversed a steady decline for intrathecal drug delivery (IDD) within 18 months. Grew worldwide revenue 14% to $661M annually.• Reprioritized upstream therapy development, increased investment in development of new stimulation therapy for chronic intractable migraine and non-opioid pharmaceutical for implantable intrathecal pump.• Executed launch of several new implantable products worldwide that reversed chronic market share erosion and implemented targeted customer growth strategy that accelerated new patient growth. Show less
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Senior Director of Heart Failure Market Development and International Marketing
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Jan 2002 - Aug 2006
Commercialized cardiac resynchronization therapy (CRT) and implantable cardiac defibrillation (ICD) therapy in the US with a new sales channel to drive access for patients with chronic heart failure. Expanded approach to include two diagnostic technologies (OptiVol Fluid Status Management and Chronicle) to improve management of heart failure and reduce hospitalizations. Developed the strategy to increase investment and accelerate growth outside the United States.• Drove US revenue to $2.4B annually with a four year CAGR of 29%.• Orchestrated three major phase IV clinical studies for referral cardiologists.• Partnered with the global organizations to identify $15 million of incremental investment opportunities and championed funding. Show less
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Business Director – Reveal Insertable Loop Recorder
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May 1998 - Jan 2002
Championed market commercialization of world's first implantable heart monitor as well as directed R&D, clinical operations, global marketing and product planning with full P&L responsibility
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Director of Marketing - Cardiac Rhythm Management
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May 1995 - May 1998
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Baxter International Inc.
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United States
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Medical Equipment Manufacturing
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700 & Above Employee
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Director of Technical Development Productivity Systems Division
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Feb 1990 - May 1995
Turned around underperforming R&D function to drive revenue growth and improve operations with direct responsibility for R&D, technical operations, international marketing and new business development. Division commercialized three pharmacy robotic technologies (ATC, Sure-Med, and OptiFill) that reduced cost and improved quality of patient medication distribution services.
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Senior Marketing Manager Electronic Infusion Systems
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Feb 1986 - Feb 1990
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Group Product Development Manager
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May 1983 - Feb 1986
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Education
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1984 - 1988
University of Chicago
MBA, Marketing and Finance -
1981 - 1983
Massachusetts Institute of Technology
MS, Mechanical Engineering -
1977 - 1981
Rensselaer Polytechnic Institute
BS, Mechanical Engineering
Community
