Chronic wound treatment developer LifeWave Hi-Tech Medical Devices Ltd. (TASE:LIFE) has appointed former minister and MK Haim Ramon as chairman. Ramon has held a number of part-time jobs in the private sector since leaving politics, including a director at Israel Petrochemical Enterprises Ltd. (TASE:PTCH) and Direct Insurance - Financial Investments Ltd. (TASE: DIFI), but he still had a lot of time on his hands.
Lifewave's share rose 10% on the news, but fell back to close with a gain of 1.1% to NIS 7.10, giving a market cap of NIS 115 million.
Ramon said, "I accepted the offer from Dr. Michel Afargan [LifeWave CEO], after the company's successful offering and a thorough examination. I realize that this is a company with promising technology that can save lives and improve patients' quality of life in a field that cries out for innovative treatment technologies. I believe that my joining the company at this stage will foster relations with multinationals."
"Globes": Why did you hire Ramon?
Afargan: "I see in Ramon a man who comes from the industry. One of the things that impressed me was how he spoke our language. He comes with a wide network of ties with doctors, healthcare organizations, and practical experience in healthcare management. His legal background should also help us on the regulatory side."
Published by Globes [online], Israel business news - www.globes-online.com - on September 16, 2009
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