Versa Vascular Names Bill Shields New CEO, Tops Up Series C to $42M
Versa Vascular, the Santa Cruz medtech company developing a transcatheter treatment for tricuspid valve disease, has named Bill Shields its new CEO.
Bill Shields
Shields spent 15 years at Medtronic's structural heart division, most recently as vice president and general manager of transcatheter mitral and tricuspid therapies. Before that, he worked as a senior engineer at Stryker developing orthopedic technologies.
He takes over from David Hovda, who was named CEO back in September 2025. Hovda is retiring from the role but will stay on as an advisor.
"I am thrilled to join Versa Vascular at a time when we are seeing positive results clinically, close to expanding our clinical work to the United States, and receiving continued investor confidence," Shields said in a statement. "I have seen and launched a number of innovative transcatheter devices in my career, and the AdapTR technology shows similar promise to create a superior therapy for patients. I want to thank David Hovda and the team for their commitment to product development and refinement that has led to a truly novel solution that is showing it can have a positive impact on patients' lives."
Shields also posted a reflection on LinkedIn about leaving Medtronic. "I leave Medtronic with tremendous gratitude for the people who made those 15 years so meaningful," he wrote. "To the mentors, colleagues, and teammates I had the privilege of working alongside, thank you. You taught me countless lessons, challenged me to grow, and created friendships that I know will last well beyond my time at the company."
About Versa Vascular
Versa Vascular launched in 2020 out of the Occam Labs medtech incubator, right here in Santa Cruz. Its flagship product, the AdapTR transcatheter tricuspid repair device, is currently in a first-in-human study. Co-founder Maggie Nixon has also been a familiar face at Santa Cruz Works events, most recently as a featured speaker at Santa Cruz Works’ New Tech Events and 9th Annual Titans.
Santa Cruz Ventures backed the company's Series C round, which Santa Cruz Works reported on in July when it closed at an oversubscribed $27.3 million, with Santa Cruz Ventures as the only local investor.
Additional Series C Funding
Versa Vascular also announced it has raised an additional $15 million, bringing its total Series C to $42 million. The new funds will go toward completing clinical research on the AdapTR device and further product development.
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