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Technical.ly
4 days ago
- Business
- Technical.ly
Vesteck aims to turn aortic aneurysm surgery into a one-and-done procedure
When it comes to treating potentially deadly aortic aneurysms, medicine has come a long way. One Philly biotech startup aims to make those outcomes even better. Minimally invasive surgery on an aortic aneurysm — an enlargement of the heart's main artery that can cause a fatal rupture if left untreated — requires intensive follow-up care, with additional surgeries often required after two to five years. The likelihood of having to repeat the surgery is a reality that patients have to live with, but it doesn't have to be that way, said Joseph Rafferty, CEO and cofounder of Vesteck, a company that has developed a procedure that can reinforce aortic aneurysm surgery with high-tech stitches called endosutures. 'Physicians tell us, if it was their mom and dad having a procedure like this, they would want a device like this to make sure that they're not going to have to come back for a second procedure,' Rafferty told Using a simple catheter-based approach, Vesteck addresses this critical challenge in treating aortic aneurysms with a developing technology that has the potential to help patients with other medical conditions. Proud Philly roots West Chester-based Vesteck is a global startup with three founders from different parts of the world. But at its core, it's a Philly company. 'I'm a Philly guy, Delaware County, Temple [University] grad,' Rafferty said. 'We have very strong and very, very proud roots in Philadelphia.' Those Philly roots, he said, included a strong work ethic. 'I'm second-oldest of nine, and my wife is seven of 11, so we all understand the concept of 'pumping the pump,'' Rafferty said. 'If you don't pump the pump, money doesn't come out. So we all learned at a very young age that you need to go work and make your money.' When he attended Temple in the 1970s, Rafferty majored in communications and journalism. 'I was a writer with the concept that in whatever business you go into, if you can articulate your thoughts appropriately, it's amazing how many different businesses that skill set can translate to,' he said. After graduating in 1979, Rafferty soon found himself in the booming medical device industry, where he was surrounded by 'the best and the brightest' physicians and surgeons making an impact on patients' lives. 'You can make a very nice living at it if you're willing to make the sacrifices,' Rafferty said. '[It involved] lots of late nights delivering devices.' By the late 2010s, Rafferty knew the medical device industry well and was looking for the next big thing. Through a friend, he met John Edoga, a general surgeon from Columbia University. 'Dr. Edoga shared with me the concept that is Vesteck,' Rafferty said. 'But more importantly, he shared with me the challenges in the aortic repair space.' Along with a third cofounder, French cardiothoracic surgeon Thierry Richard, Vesteck was founded in 2019. Securing the post-surgical health of aortic aneurysm patients At the center of Vesteck's biotechnology is its proprietary endosuture called Suture-Tight. Endosutures allow surgeons to stitch a patient internally using an endoscope, a less invasive surgical tool that enters the patient's body through the groin rather than cutting the patient open. After the initial grafting surgery on the aortic aneurysm, a surgeon using Vesteck's technology re-enters and 'stitches' the grafts in place by attaching the Suture-Tight endosutures. These endosutures, which resemble tiny hoop earrings, are made of nitinol, a nickel-titanium alloy known for its shape memory. Since modern coronary stents are commonly made of nitinol, the FDA and physicians are already very familiar with its properties. Nitinol stents are crimped down to be tiny enough to deliver into an artery, then, once released, they return to their original size, propping the artery open. The same property makes it possible to insert Vesteck's sutures. The extra layer of stability after the suturing procedure can potentially improve physical outcomes and psychological ones, too, Rafferty said. Without sutures, 'it's kind of like the sword of Damocles hanging over your head, because you think you got cured, but you really didn't,' he said. Progress and setbacks, as funding has become scarce Vesteck isn't available for clinical use yet, but the team has used the Suture-Tight procedure on 14 patients so far in Europe, Canada and Australia. 'Our first human patients are doing very, very well,' Rafferty said. 'The aneurysm sacs are stable or shrinking, and there's no migration, no leaks, no suture fractures.' The procedure is so simple, he said, that one of the first to use the device on a patient, a physician in Australia, successfully stitched four sutures in four minutes. For physicians with endovascular skills, it's a relatively easy procedure with little learning curve. In the US, the Vesteck team has met with the FDA six times and is ready to start the 100-patient clinical trial that would move the technology closer to being used to treat aortic aneurysm patients. Just one thing is holding them back: funding. ' Venture capital funding is way down since COVID,' Rafferty said. 'Part of that is because of the economy. For the last four years, the IPO market has been all but stagnant.' As a result, many medical device companies can't do much more than wait for money to come back into the venture capital market. 'We're kind of on hold,' Rafferty said. On the local level, several Philadelphia investors have been as enthusiastic about Vesteck as Rafferty is about Philadelphia. BioAdvance, Ben Franklin Technology Partners, Grays Ferry Capital and Robin Hood Ventures are all supporters. Still, a company like Vesteck needs big-time, global-scale funding to move forward. 'You get to a point where you need to bring in some of these larger investors,' he said, 'and that's what we're trying to do.' Beyond aortic aneurysms Despite the funding roadblocks, Rafferty is optimistic about Vesteck and its potential impact on the medical world. Physicians who have seen the technology have suggested other potential use cases, including as part of heart and vein procedures. 'A big part of our culture is keeping an open mind and understanding that different patient populations around the world have different needs, and [asking] how can we adapt this technology to suit those needs,' Rafferty said. 'That's one of the things we've learned: stay interested and stay humble.'
Yahoo
13-05-2025
- Business
- Yahoo
Alera Group Acquires Trinity Advisors Group
DEERFIELD, Ill., May 13, 2025--(BUSINESS WIRE)--Alera Group, a leading national insurance and financial services firm, announced today it is expanding its Mid-Atlantic footprint with the acquisition of West Chester-based Trinity Advisors Group (TAG), a retirement plan consulting firm. For nearly two decades, TAG has delivered qualified retirement-plan consulting to corporate clients across Greater Philadelphia. The firm is led by founder Michael McCabe, who established the company in 2006 and has been consistently recognized for his expertise in the retirement-services industry. "Michael and his team have earned a reputation for excellence, and we're thrilled to welcome them to the Alera Group family," said Christian Mango, Executive Vice President and National Practice Leader, Retirement Plan Services. "Their deep expertise in the Philadelphia market strengthens our capabilities and accelerates our strategic growth in the Mid-Atlantic." Following the asset purchase, TAG will operate within The Ascent Group, an Alera Group company. "Joining Alera Group opens an exciting new chapter for our team and our clients," McCabe said. "We saw in Alera Group a culture that matches our own commitment to exceptional client service. With their expanded resources, we can deliver even greater value to plan sponsors and participants while maintaining the high-touch approach they expect." ERISA Consultant Carmela Elco and client service professional Tracey Kirby, CPC, CPFA, will in their current roles. Terms of the transaction were not disclosed. About Alera Group Alera Group is an independent financial services firm with $1.5 billion in gross revenue, offering comprehensive property and casualty insurance, employee benefits, wealth services and retirement plan solutions to clients nationwide. Working collaboratively across specialties and across the country, Alera Group's team of more than 4,500 colleagues offer unique solutions, personalized services and proactive insights to help ensure each client's business and personal success. For more information, visit and follow us on LinkedIn. View source version on Contacts Tina Powelltina@
Business Wire
13-05-2025
- Business
- Business Wire
Alera Group Acquires Trinity Advisors Group
DEERFIELD, Ill.--(BUSINESS WIRE)--Alera Group, a leading national insurance and financial services firm, announced today it is expanding its Mid-Atlantic footprint with the acquisition of West Chester-based Trinity Advisors Group (TAG), a retirement plan consulting firm. "Michael and his team have earned a reputation for excellence, and we're thrilled to welcome them to the Alera Group family," said Christian Mango, Executive Vice President and National Practice Leader, Retirement Plan Services. For nearly two decades, TAG has delivered qualified retirement-plan consulting to corporate clients across Greater Philadelphia. The firm is led by founder Michael McCabe, who established the company in 2006 and has been consistently recognized for his expertise in the retirement-services industry. "Michael and his team have earned a reputation for excellence, and we're thrilled to welcome them to the Alera Group family," said Christian Mango, Executive Vice President and National Practice Leader, Retirement Plan Services. "Their deep expertise in the Philadelphia market strengthens our capabilities and accelerates our strategic growth in the Mid-Atlantic." Following the asset purchase, TAG will operate within The Ascent Group, an Alera Group company. "Joining Alera Group opens an exciting new chapter for our team and our clients," McCabe said. "We saw in Alera Group a culture that matches our own commitment to exceptional client service. With their expanded resources, we can deliver even greater value to plan sponsors and participants while maintaining the high-touch approach they expect.' ERISA Consultant Carmela Elco and client service professional Tracey Kirby, CPC, CPFA, will in their current roles. Terms of the transaction were not disclosed. About Alera Group Alera Group is an independent financial services firm with $1.5 billion in gross revenue, offering comprehensive property and casualty insurance, employee benefits, wealth services and retirement plan solutions to clients nationwide. Working collaboratively across specialties and across the country, Alera Group's team of more than 4,500 colleagues offer unique solutions, personalized services and proactive insights to help ensure each client's business and personal success. For more information, visit and follow us on LinkedIn.
Yahoo
10-04-2025
- Business
- Yahoo
QVC moves to TikTok after mass layoffs; what to know and how to shop
After laying off hundreds of workers, the West Chester-based QVC shopping network has made the pivot to around-the-clock live sales through its TikTok channel. Here's everything shoppers need to know about QVC's TikTok move. QVC's leadership announced that it is now hosting on TikTok a 24/7 live shopping stream featuring QVC Group's brands, products, and talent. "Exciting news! QVC Group is live 24/7 on @tiktok_us, the first all-day shopping experience on TikTok Shop in the U.S.," read QVC's X post. "Connect with celebrities, hosts, and explore top brands anytime you want. Download TikTok and join the fun!" You can reach QVC's TikTok account here. You can still browse and shop QVC through its website. The QVC Group, which runs the QVC and HSN shopping channels, laid off hundreds of employees last month. The layoffs represent 5% of QVC's staff. "We made the very difficult decision to eliminate a number of roles. In the U.S., this impacts approximately 900 team members across HSN, QVC US and our Global Shared Services," the company said. "For many of these individuals, today will be their last day with QVC Group." Some employees will remain with the company for several months to help support its transition of the HSN broadcast hub from its current home in St. Petersburg, Florida, to QVC's headquarters in West Chester, according to The QVC Group. Damon C. Williams is a Philadelphia-based journalist reporting on trending topics across the Mid-Atlantic Region. This article originally appeared on Delaware News Journal: PA-based QVC moves to TikTok after laying off hundreds
