Bionik Laboratories Appoints Chief Commercialization Officer

Bionik Laboratories Corp., a global robotics company focused on providing rehabilitation solutions to individuals with neurological disorders, has appointed Timothy A. McCarthy to its management team as chief commercialization officer. McCarthy is described by the company as a well-established commercial leader in medical and healthcare technology. The company also announced the addition of Steven L. Brown and Jon C. King to its newly formed global commercialization team.
 
“We are delighted to have Tim join the Bionik team. As a renowned expert in commercialization, and with the experience he brings, we look forward to driving forward a strong commercial engine, the number one priority for our growth strategy,” said Peter Bloch, CEO and board chairman. “This key strategic appointment is another step for Bionik in positioning the company as a leader in the robotics medical technology and device space and propels us closer to bringing more effective rehabilitation solutions to those with neurological disorders by utilizing technologies and robotics.”
 
McCarthy joins the Bionik team having recently served as the CEO of Medical Compression Systems Inc., a specialist in compression therapy to prevent DVT and improve wound healing for joint replacement patients. He was recruited as the top executive at MCS to lead a commercial stabilization and turnaround effort in order to prepare the company for an M&A process seeking a strategic partner. Prior to that, McCarthy served as the president and CEO of iWALK Inc. (now known as BionX Medical Technologies), a venture backed medical robotics company commercializing the Massachusetts Institute of Technology-invented BiOM System, the world’s first and only actively powered lower limb bionic prosthesis to normalize gait. While at iWALK, McCarthy was responsible for leading the final product development and commercial sales strategy that led to the successful establishment of a long-term market foothold for this new category of healthcare technology products.

In addition, McCarthy served at Össur Americas as vice president of sales and marketing, where he was promoted to the top commercial executive and leader of a sales and marketing restructuring and growth effort, resulting in above budget attainment each year and 4.5-times revenue growth during his nine-year tenure. McCarthy also held sales leadership roles at the Chattanooga Group Inc. (now DJO Global).
 
“Robotic rehabilitation is an emerging market that represents a vast and growing opportunity,” said McCarthy. “The Bionik team and their range of robotic rehabilitation systems show incredible promise in the robotic rehabilitation market and ultimately beyond in the home setting. I am confident the InMotion Systems and ARKE have the potential to provide incredible opportunities for effective therapy for a range of individuals suffering from neurological disorders. I look forward to leading the company’s commercial efforts and further advancing Bionik in this potentially fast-growing market to its next stage of growth.”
 
McCarthy graduated cum laude from Northeastern University with a bachelor of science in business administration and received his M.B.A. from the University of California in Los Angeles.
 
Bionik also appointed Brown and King to its commercialization team.
 
Brown has more than 35 years of significant contributions in key roles with industry leaders in the field of rehabilitation and sports medicine. Previous to joining the Bionik team, Brown served as the national business development manager at Bioness Inc. Over the course of his career, Brown has a diversified and proven management record in sales, marketing, product management, strategic planning and commercialization.
 
King is a domestic and international business development executive with more than 25 years of experience in the field of physical medicine and rehabilitation. Prior to joining the Bionik team, King served as the business development manager, Western region, and director of international business development at Bioness Inc. King has a proven history of increasing sales revenue and maintaining customer relationships on both a national and international level.
 
 “We are also pleased to welcome Steven Brown and Jon King to our commercialization team. As we continue to advance Bionik and execute on our business strategy, we believe these key appointments play an integral part in our ability to do so. We are excited to have attracted these individuals and continue to focus our efforts on building a premier and innovative robotics company achieving success globally,” concluded Bloch.
 
Bionik Laboratories has a portfolio of products focused on upper and lower extremity rehabilitation for stroke and paraplegic patients, including three products on the market and three products in varying stages of development. The InMotion Systems—the InMotion ARM, InMotionWrist, InMotion Hand, and InMotion Ankle, are designed to provide intelligent, patient-adaptive therapy in a manner that has been clinically verified to maximize neuro-recovery. Bionik is also developing a lower-body exoskeleton, ARKE, designed to allow paraplegics as well as other wheelchair users the ability to rehabilitate through walking. ARKE is expected to be designed to continually adapt to a patient’s ability and provide real time feedback to the physiotherapist through the use of Bionik’s proprietary data collection and analytics cloud network through its partnership with IBM. The company is based in Toronto, Canada.