Alverix, Inc., an optoelectronics company developing portable medical diagnostic instruments in cooperation with leading point-of-care (POC) diagnostics companies, announced the appointment of James D. Merselis as President and Chief Executive Officer. Merselis will also serve as a member of the Company’s board of directors.

“Alverix has a competitive advantage within the growing $5 billion POC marketplace,” said Gary J. Kurtzman, MD, Chairman of the Board of Alverix and Managing Director in the Life Sciences Group of Safeguard Scientifics, a provider of growth capital and operational support to entrepreneurial and innovative technology and life sciences companies. “We are delighted to have been able to attract an executive of Jim’s caliber to Alverix. Jim has a superior track record of building businesses and creating value. His extensive industry experience and expertise will be an asset to Alverix in achieving its fullest potential and ensuring that its innovative technology is fully and rapidly leveraged.”  

Most recently, Merselis served as President and CEO of HemoSense, Inc. (AMEX: HEM), a POC diagnostics company focused initially on providing patients and physicians with rapid test results to help manage the risk of stroke with the drug warfarin or Coumadin. HemoSense was acquired by Inverness Medical Innovations, Inc. (AMEX: IMA) in late 2007 for $265 million. Prior to his tenure at HemoSense, Merselis served as President and CEO of Micronics, Inc., a microfluidics company that develops near patient in vitro diagnostic products for disease diagnosis, prognosis and treatment monitoring. In addition, he held a number of positions over twenty-two years with Boehringer Mannheim Diagnostics (now Roche Diagnostics).

“Alverix’s novel technology has the potential to revolutionize medical diagnostics and dramatically improve patient care by enabling more sensitive, affordable, immediate and accurate testing for almost any health condition, in nearly any setting,” said Jim Merselis, CEO of Alverix. “I am honored to join the Alverix team of seasoned engineers and talented scientists, many whose pedigree and experience comes from more than 30 years at Hewlett Packard, as well as the Company’s investors and advisors to drive value and build collaborations with corporate partners.”