AHIT licensed the endovascular product in July of 2007 from Hani Shennib, MD, a cardiovascular surgeon formerly at the Arizona Heart Hospital.
Bill Colone, who co-founded AHIT in August 2006, has over 26 years of experience in developing and marketing medical devices.
was formed in August 2006 by Bill Colone and Keith Jarmusch, who have a combined thirty years of experience in developing and marketing medical devices.
Shea, now CEO of AHIT, who will head the new enterprise, describes the undertaking as "an exciting event which not only provides a funding mechanism for internal growth and investment, but also one which will set the stage for BIOLOGIX to play a crucial public venture capital and management assistance role for emerging growth medical firms well into the late 90's and beyond.
The founders of AHIT are experienced leaders with backgrounds in health care, investment banking, corporate management and entrepreneurial activity.
Thereafter, symbol will be permanently changed to AHIT
in twenty business days.
The terms call for immediately arranging a significant infusion of capital into Biologix for commercialization of its hand-held point-of-care diagnostic instrument and disposable biosensor systems, in exchange for long-term equity participation by AHIT in Biologix publicly held securities, as well as a representation on the company's board of directors.
The founders of AHIT are a nationally renowned leadership council of health care, investment banking, entrepreneurial and business professionals.