Versa Vascular appoints former Medtronic heart franchise leader Bill Shields as CEO

Bill Shields, who spent 15 years leading Medtronic’s structural heart franchise, is leaving the medtech giant to become chief executive of Versa Vascular, a startup developing tricuspid valve repair technology.

Versa is working on a transcatheter device called AdapTR that could provide a less‑invasive option for patients who are high‑risk or frail. The company plans a first‑in‑human study outside the United States and an early feasibility study in the U.S.

The firm also announced that its Series C round has been increased to $42 million, funding the ongoing studies. Former CEO David Hovda is retiring but will remain an advisor, while competitors such as Abbott and Medtronic continue to develop similar devices.