Glassbeam Appoints Eric Milledge as Chairman

(US and Canada) Glassbeam, Inc., a pioneer in data and predictive analytics for connected medical machines based in Sunnyvale, Calif., announced the addition of healthcare industry veteran Eric Milledge as chairman of its board of directors. Eric Milledge replaces long-time chairman and Glassbeam co-founder Kumar Malavalli, who is now Chairman Emeritus.

The change comes as hospitals across the country are leveraging new technology to provide exceptional patient care, and using real-time data to efficiently allocate staff, utilize medical devices and other resources during periods of heightened demand. Hospitals are especially looking to Glassbeam to improve the reliability of their equipment while facing enormous cost pressures. A growing and aging population and heightened expectations for high-quality care contribute greatly to the need for these teams to be more operationally efficient with better machine-monitoring methods in a smarter hospital. At this time, the market for smart hospital technology is expected to reach US$83 billion by 2026.

Eric Milledge has previously served as Company Group Chairman for Johnson & Johnson and was a member of the Medical Device & Diagnostics Group Operating Committee. He brings more than four decades of robust healthcare experience as Glassbeam helps its customers enter a new era of efficiency and effectiveness where the monitoring and maintenance of critical medical machines can be done remotely.

"Glassbeam is at a very important growth inflection point in the healthcare IT analytics market," said Eric Milledge, Chairman of the Board. "We have an unparalleled market opportunity that is largely untapped and underserved from the end-user perspective. I am looking forward to working with the new executive team to drive better patient care solutions across large healthcare networks globally. Our vision is to make Glassbeam part of the smart hospital solution everywhere."

"Hospitals are under extraordinary pressure to maximize the use and minimize the service costs of all technical assets to support the human talent that are stressed beyond measure," said Kumar Malavalli, Chairman Emeritus and co-founder. "Glassbeam is in a unique position with its unified smart hospital analytics platform, Clinsights, beyond what one healthcare provider/manufacturer can offer. Clinsights monitors and manages both the maintenance and utilization of hospital equipment driving higher return on assets and optimizing their operating expenses."

The news comes at the heels of the company's US$10 million Series B financing led by Appian Way Asset Management and joined by MultiCare Health System.

"The Glassbeam team is fortunate to enjoy the privilege of Kumar Malavalli's leadership as co-founder and former board chairman. He will remain instrumental to our success as he assumes the role of Chairman Emeritus," said Puneet Pandit, co-founder and CEO. "We welcome Eric Milledge, who will be key to our expanding presence in healthcare as medical machines become more connected. We look forward to continuing to help our customers realize new, better ways to operate through innovative solutions."