MINNEAPOLIS–(BUSINESS WIRE)–Nortech Systems Incorporated (Nasdaq: NSYS), a leading provider of engineering and manufacturing solutions for complex electromedical and electromechanical products serving the medical, aerospace & defense and industrial markets, announced today Phil Smith and Dan Sachs were recently appointed to the company’s board of directors.
“We are happy to welcome Mr. Smith and Dr. Sachs to our board of directors,” said Jay Miller, Nortech’s Systems’ president and CEO. “In recent years, Nortech’s strategic investments in the U.S., Mexico and China, coupled with important measures taken to strengthen its balance sheet, have diversified the company’s capabilities and improved efficiencies to enhance profitability and support future growth.” Miller added, “Phil and Dan bring a wealth of management and financial expertise to help guide and oversee that future growth and profitability.”
Mr. Smith’s 25 years of healthcare experience includes investment banking as well as executive management. Mr. Smith currently serves as a Managing Director of the Healthcare M&A practice at Duff & Phelps, an investment banking firm that provides valuation, corporate finance and other services. He has expertise in assisting public and private companies as well as private equity firms. Prior to Duff & Phelps, he held positions at BMO Capital Markets (formerly Greene, Holcomb and Fisher), where he focused on healthcare mergers and acquisitions. Before that, he was a member of the medical device investment banking team at Piper Jaffray in Minneapolis. Earlier in his career, Smith served as an executive for DIGIMED Ortho, Vital Images, Thermonix and Image-Guided Neurologics. Smith began his career as a successful sales leader at GE Medical Systems (now GE Healthcare). Smith received an MBA from the Wharton School of the University of Pennsylvania and a B.S. in electrical engineering from the University of Florida.
Dr. Sachs brings broad experience as a medical professional, investor, and entrepreneur with a keen focus on medical device technology and startups. Dr. Sachs is a founder of Respicardia, Inc. (FKA Cardiac Concepts), and Mainstay Medical Inc., and Program Director of the Innovation Fellows Program within the Institute for Engineering in Medicine at the University of Minnesota. He was previously a venture capital investor with Investor Growth Capital and Spray Venture Partners, for which he was the founding investor in CoTherix, Inc. (CTRX, FKA Exhale Therapeutics), Neuronetics, Inc. (STIM), and other private companies. He served on the Board of Directors of Neuronetics, Inc., CoTherix, Inc. (acquired), CHF Solutions Inc. (acquired), Respicardia, Inc, and Mainstay Medical, Inc. He previously served as Instructor in Medicine in the Division of Emergency Medicine at Harvard Medical School. Dr. Sachs earned BA and MD degrees from the University of Michigan, and an MBA from Harvard Business School.
Nortech specializes in complex cable harnesses, printed circuit board assemblies (PCBAs) and box builds for low-volume, high-mix global engineering development and manufacturing. Nortech’s 30-year history and rapidly growing expertise in digital connectivity and data management helps its customers stay competitive today and well into the future.
Nortech uses intelligence, innovation, speed, and global expertise to provide high-quality, high performance engineering and manufacturing solutions to resolve our customers’ most important challenges to be leaders in secure, reliable digital connectivity & data management. Nortech strives to be a premier workplace that fosters valued relationships internally and in our communities.
About Nortech Systems Incorporated Nortech Systems is a leading provider of design and manufacturing solutions for complex electromedical devices, electromechanical systems, assemblies, and components. Nortech Systems primarily serves the medical, aerospace & defense, and industrial markets. Its design services span concept development to commercial design, and include medical device, software, electrical, mechanical, and biomedical engineering. Its manufacturing and supply chain capabilities are vertically integrated around wire/cable/interconnect assemblies, printed circuit board assemblies, as well as system-level assembly, integration, and final test. Headquartered in Maple Grove, Minn., Nortech currently has seven manufacturing locations and design centers across the U.S., Latin America, and Asia. Nortech Systems is traded on the NASDAQ Stock Market under the symbol NSYS. Nortech’s website is www.nortechsys.com.
Jay Miller, President and CEO