developing ideas. delivering innovation.



Case Studies

The founders of PMI have extensive experience in developing novel medical devices that span more than two decades of innovation in the fields of Cardiac, Vascular, Orthopedic, Gynecologic, Urologic and General Surgery.

PMI co-founder Mike Glennon was able to move the AngioVac® Cannula quickly from PowerPoint presentation to funding to a tangible device platform. PMI co-founder Dr. Al Chin has an extraordinary history patenting and selling marketable innovations. Together, PMI can optimize the development process and resulting value of your platform device based concept.

PMI currently has ten pending patents and will attain prototype design freeze on three major product platforms in 2010. PMI will have the option to spin out two additional companies in 2010.

DEVICE PLATFORMS, Al Chin, MD

  • $1.25 Billion Total Revenue from Marketed Products for:
    • - Edwards LIS
    – Origin Medsystems
    – Guidant / Boston Scientific / MAQUET
  • 168 U.S. Patents Covering a Dozen Marketed Products
  • Designs span the areas of Cardiac, Vascular, Orthopedic, Gynecologic, Urologic
    and General Surgery

    • Marketed by Edwards-LIS

    • Fogarty-Chin Linear Extrusion Catheter (1983)

    - Balloon Dilatation Catheter for Vascular Surgeons
    – U.S. Patents: 4,271,839; 4,292,974; 4,318,410; 4,479,477; 4,493,711; 4,526,175; 4,564,014; 4,630,609; 4,863,440; and 4,976,725
    – Technology Licensed to Conceptus, Inc. in 1992
    – Total Revenue: $5 million

    • Fogarty Internal Mammary Artery Graft Kit / Chin Shear Force Gauge (1988)

    - Directed towards Cardiac Surgeons for IMA Graft Preparation
    – U.S. Patent: 4,721,507
    – Total Revenue: $10 million

    • Fogarty-Chin Angioscopic Valvulotome (1989)

    - Designed for Vascular Surgeons to perform femoropopliteal or femorodistal in-situ
    saphenous vein bypass
    – U.S. Patents 4,768,508 and 4,739,760
    – Total Revenue: $10 million

    Marketed by Origin Medsystems (Co-founded by Al Chin, MD)

    • Origin Cement Extraction System (1990)

    - To remove old cement during revision of hip prostheses
    – U.S. Patent issued 9 months after filing with no changes to application
    – U.S. Patents: 5,222,958; 5,190,551; 5,156,606; 5,152,792; 5,108,402; 5,041,120; and
    4,919,153
    – Sold to Zimmer in 1992; now Hall SEG-CES System (ConMed Linvatec)
    – Total Revenue: $21 million

    • Origin Preperitoneal Dissection Balloon (1992)

    - Controlled balloon dissection of the extraperitoneal space for laparoscopic hernia repair and urogynecological surgery
    – Sold to U.S. Surgical/Tyco in 1998 (now Covidien)
    – U.S. Patents: 6,361,543; 5,925,058; 5,865,728; 5,816,257; 5,803,901; 5,779,728;
    5,728,119; 5,704,372; 5,632,761; 5,613,947; and 5,468,248
    – Total Revenue: $230 million

    • Origin Laparolift (1993)

    - A mechanical lift for laparoscopy without gas insufflation
    – U.S. Patents: 5,716,327; 5,690,607; 5,569,165; 5,555,897; 5,514,075; 5,505,689;
    5,501,653; and 5,372,147
    – Sold to U.S. Surgical Corporation/Tyco in 1998
    – Total Revenue: $10 million

    Marketed by 
Guidant / Boston Scientific / MAQUET

    • Guidant VasoView (1996)

    - Endoscopic vessel harvesting system
    – U.S. Patents: 7,534,243; 7,485,092; 7476,198; 7,384,423; 7,326,178; 7,001,404; 6,976,951;
    6,951,568; 6,830,546; 6,752,756; 6,706,052; 6,506,210; – 6,432,044; and 6,428,556
    – 1.2 million procedures performed since 1996
    – Total Revenue: $850 million

    • X-pose Cardiac Positioner (2001)

    - Suction cup heart positioning device for multivessel off-pump coronary artery
    bypass surgery
    – U.S. Patents: 7,226,409; 6,899,670; 6,730,020; and 6,506,149
    – Total Revenue: $63 million

    • Heartstring Aortic Seal (2003)

    - Temporary seal for clampless aortic anastomosis during coronary
    bypass surgery
    – U.S. Patents: 7,544,203; and 6,814,743
    – Total Revenue: $54 million

    • FLEXView Cannula (2006)

    - For closed chest endoscopic epicardial visualization
    – U.S. Patents: 7,597,698; 7,398,781; and 7,264,587
    – Total Revenue: $7 million

    DEVICE DEVELOPMENT, Mike Glennon

    • Established Vortex Medical Inc. in March 2008 for the development of the AngioVac®
    Cannula and Circuit for use as a venous drainage cannula during extracorporeal bypass
    for up to 6 hours. The device facilitates the en bloc removal of undesirable intravascular
    material during the performance of extracorporeal circulation.

    • U.S. patent published in June 2008

    • Received 510(k) approval in June & August 2009

    • First Physican Advisory Board meeting and Lab in September 2009

    • First physician preference case done at Brigham and Women’s Hospital in December of 2009

    Catalyst Health Ventures

    • BioTrove, Inc.

    CHC led Series B, B1, and C rounds of investment in this Boston-based life science company. As the first institutional investor: formed a syndicate of leading life science venture firms with a common strategy, helped to guide the companies strategy, led the successful transition of stage-appropriate senior management twice, built a “go-public” management team, recruited a leading investment banking syndicate, structured multiple rounds of investment from early stage to Pre-IPO, led strategic partnership discussions, and played key role in structuring and negotiating the spin-out of Biocius Life Science and the sale of BioTrove to Life Technologies, Inc.

    • Vortex Medical

    Led Series A and A1 financings as sole venture capital firm. As member of the Board of Directors, helped to guide strategic partnering, overall strategy, and financial strategy. Vortex is now revenue generating and approaching profitability.

    • Novazyme Pharmaceuticals

    Led Series A investment in Novazyme and participant in Series B. Active member of the Board that guided the team through pre-clinical trials, fundraising efforts, dissolution of a partnership, and the sale of the company to Genzyme, all within one year.