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Fremont, Calif., AlterG, the revolutionary training and rehabilitation company, today announced its hiring of Steve Basta as Chief Executive Officer. David Grenewetzki, who served as interim CEO since March 2011, will continue to serve as President of the Fremont, California company.
Mr. Basta brings over 15 years of extensive experience in both building and managing medical device companies to AlterG, whose mission is to change the way people recover and athletes train. He will be responsible for overall strategic guidance of the company, including sales, marketing, operational and finance matters.
From 2002 through 2010, Mr. Basta served as CEO of BioForm Medical, Inc, navigating the company through multiple market-leading product launches; the successful commercialization of the #3 worldwide dermal filler, and the development and launch of BioForm’s second major aesthetics product. He also led BioForm’s financial and corporate evolution through a $250 million acquisition by Merz, a privately held German pharmaceutical company. After the February 2010 acquisition by Merz, Mr. Basta served as the global business unit leader for Merz Aesthetics.
Prior to Bioform Medical, Mr. Basta served as President and CEO of Gliatech, Inc., VP Business Development and Chief Financial Officer of Creative BioMolecules, Inc., and Executive Director of Product Development for The Immune Response Corporation. Mr. Basta began his career in investment banking with Dillon, Read and Co. Inc. He holds a BA from The Johns Hopkins University and received his Master of Management degree from the Kellogg Graduate School of Business at Northwestern University.
Mark McKee, Chairman of the Board of Directors for AlterG, says, “We feel enormously advantaged to have Steve at the helm. We anticipate that his financial and management expertise as well as his strategic leadership will strengthen our business and further our market leadership. Steve’s vision and proven track record will help AlterG become a leader in rehabilitation and training.â€
David Grenewetzki is currently the President and member of the board of directors of AlterG and has served as the interim CEO since early 2011. He will continue to provide the company with top-level expertise in guiding new technology development and help AlterG continue to grow quickly.
Mr. Grenewetzki, a veteran of more than 20 years in the consumer software business, has been with AlterG since March 2011. Prior to joining the company, he was the President of Sierra On-Line, a major division of Vivendi-Universal Games. In that role he was responsible for the direction of software development, marketing and publishing of one of the broadest ranges of games software in the industry.
Added Mark McKee, â€œDave has the unique combination of technical savvy, executive leadership, drive and creativity. He is a tremendous asset to our team and will be critical in driving AlterG to increased market share and profitability in all sectors.â€
Since retiring from Sierra in 2001, Mr. Grenewetzki has been an advisor and/or board member to a number of technology-related companies, a board member of public broadcaster KRCB, and an expert witness in matters involving software development and industry practices. In early 2008, Mr. Grenewetzki joined 2K Boston (formerly Irrational Games) as a consultant and the following year he was asked by the board of Expresso Fitness, pioneers in the interactive fitness market, to take over as President and CEO to manage the sale of the company.
Mr. Grenewetzki holds a BS in Electrical Engineering from the University of California at Davis, a MS in Electrical Engineering from UCLA, and an MBA from California State University at Northridge.
AlterG, Inc. has pioneered a market using innovative technologies to sustain a healthy and active life. The company has reinvented modern rehabilitation through the development of its Anti-Gravity TreadmillsÂ®, which use patented differential air pressure technology originally developed for use by NASA. The AlterG Anti-Gravity TreadmillÂ® is the first FDA-cleared medical device of its kind and is used by major medical centers, leading physical therapy clinics and professional, collegiate, and individual sports and fitness programs. AlterG products allow for accurate partial weight bearing include rehabilitation from any lower body disability, neurological retraining, weight control, geriatric strength and conditioning and sport-specific programs and are sold worldwide.