Jonathan Osgood, Co-founder & Managing Member of Cutlass Capital joined GI Dynamics' Board of Directors.
Obesity rates in the U.S. have increased in epidemic proportions over the past 30 years.
According to the Centers for Disease Control & Prevention
(CDC), today, 31 percent of the U.S. adult population age twenty and over are obese, compared to 14.6 percent in 1971.
Surgeon General indicates that even moderate weight gain can significantly increase a person's chance of developing heart disease, Type-2 diabetes, sleep apnea, and a whole host of other medical conditions.
Importantly, obesity is the second leading cause of preventable death in the U.S.
"The GI Dynamics team has shown considerable momentum in its ability to provide valuable solutions to the obesity market," said Jon Osgood, Co-founder & Managing Member, Cutlass Capital.
"We look forward to taking an active role in helping the company address the unmet needs of the global obesity market."
brings 25 years of healthcare experience to GI Dynamics' Board of Directors.
He was the Global Head of Health Care Research at Deutsche Banc Alex.
Brown and its predecessors from 1984 until 2000.
At Deutsche Banc Alex
Brown, he headed one of the largest health care research departments on Wall Street with over 40 professionals worldwide.
Currently, Jon also holds Director roles with TranS1, Inc., GRAFTcath, Inc., Nutron Medical, Inc., and is on the Board of Overseers at Beth Israel Deaconess Hospital in Boston.
"We look forward to working with Jon
team as we continue our product development and move toward human clinical studies."