Peter Rule has been the CEO of OptiScan Biomedical (www.optiscancorp.com ) since 2006 and has served as Chairman of its Board of Directors since 2001. Peter advises Back Bay Group and its affiliates on a host of healthcare and industry trends. His grasp of operational, managerial and strategic issues is extremely valuable.
Before joining OptiScan Biomedical, Peter was the Chairman and CEO of EKOS Corporation. During his tenure at EKOS he raised over $60 million in venture capital to re-direct product development efforts, resulting in the invention of the company’s peripheral vascular product line, which today generates tens of millions of dollars in revenues. During this period of time, EKOS also conducted an ischemic stroke trial (IMS II) and pioneered a new therapy for the treatment of Hemorrhagic stroke, which has been published (“SLEUTH”). EKOS was sold to BTG for ~$220 million in 2013.
Prior to EKOS, Peter was the Chairman, CEO and President of PercuSurge, Inc. Mr. Rule raised approximately $50 million for PercuSurge to develop the world’s first embolic protection system for use in interventional cardiology, documenting the product’s efficacy in numerous prospective trials, including a successful 1200 patient randomized trial (“SAFER”) that today remains the largest trial in interventional cardiology run by a venture backed company. During Peter’s leadership, PercuSurge obtained CE approval and was recommended unanimously for U.S. approval by a panel (which was subsequently granted). PercuSurge was sold to Medtronic for ~$250 million in 2001.
During his tenure at PercuSurge, Peter was also one of three co-founders of Therasense, Inc., holding the position of Chairman of the Board. Under his leadership, TheraSense raised its first round of funding, recruited the CEO and VP, R & D, and redirected the company’s efforts to focus on the development of the smallest and most accurate hand-held glucose meter for the treatment of outpatient diabetes. The company was later sold to Abbott Laboratories for $1.2 billion.
Prior to PercuSurge, Peter was the President of MiniMed, Inc. He raised partner and private monies to develop the world’s smallest external insulin pump, growing revenues from zero to $75 million by the year of his departure in 1995. Also under Peter’s leadership, MiniMed refined its strategy from being an external and implantable insulin pump company, to one of an external pump company with an interstitial fluid sensing continuous glucose meter (cgms), adding the world’s first cgms to its portfolio through internal development. As President, Peter also completed a successful Initial Public Offering (IPO). The company later sold to Medtronic for $3.7 billion.
During his time at MiniMed, Peter was an industry advisor to the now famous Diabetes Control and Complications Trial (DCCT). He has over 30 years of experience in the healthcare industry and received his B.S in Economics from the University of Southern California, as well as an MBA from Harvard University.
