Cardiva Medical Inc. added 20-year medical device industry veteran Charles Maroney as its new president, chief executive and member of the board of directors. It has also completed a financing, as the company prepares for the clinical testing phase on its newest product. Maroney succeeds Rick Anderson, who will remain on as chairman of the board. Anderson had been serving as interim chief executive since March 2, after the resignation of Augustine Lien, who had been the company's CEO since its founding in 2002. The Sunnyvale, Calif.-based company said it also raised money to help bring the company's product to market, but it didn't disclose the amount or investor names. Cardiva makes endovascular products that help the body heal itself following percutaneous procedures. The company launched its first product into the market in 2005, its second in 2008 and its third in 2009. It is now working on the latest generation of its femoral artery closure system. Maroney most recently served as CEO of CardioMind Inc., which makes a stent delivery system to treat coronary, neuro and peripheral artery disease. He also led Coalescent Surgical Inc., which develops and sells blood vessel anastomoses. In 2005, Medtronic Inc. acquired Coalescent. Maroney also led Prograft Medical Inc., a stent graft technology company he founded, which was purchased by WL Gore and Associates Inc. in 1997. Cardiva raised a $15.5 million Series D round in 2008, which was led by PTV Sciences. The company raised $32.8 million prior to the Series D. Other investors include Amkey Ventures, Eminent Venture Capital, Galen Partners, Lexli Investments and Sycamore Ventures. BY STAFF REPORTERS
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