Medical Device Industry Veteran Brings Health Technology Investment Experience to Firm in New Role

Menlo Park, CA – September 10, 2015 – Global venture capital firm New Enterprise Associates, Inc. (NEA) today announced the appointment of Stephen Oesterle, MD, as Venture Partner. Dr. Oesterle is a former Senior Vice President for Medtronic, Inc., the world’s largest medical device company, and brings to NEA more than two decades of experience spanning health technology investment, corporate strategy, and general management.

“Dr. Oesterle is one of the most widely known and respected leaders in the medical device industry, and it is an honor to welcome him to the NEA team,” said Dr. Josh Makower, NEA General Partner and founder of several medical device companies. “Steve brings with him a vast global network of relationships across the academic, technical, clinical, entrepreneurial, and venture communities. His experience in the health technology investment space coupled with his business development and general management background will be invaluable resources to the companies in our portfolio and to the NEA partnership.”

Prior to joining NEA, Dr. Oesterle served as Medtronic’s Senior Vice President for Medicine and Technology and was a member of the Medtronic Executive Committee for more than 14 years. By forging relationships with global technology partners and technical universities, he oversaw internal technology investments while participating in strategic corporate investments in emerging private companies. He also served as a member of the Business Development and Strategy Committee that approved all corporate acquisitions. During his tenure at Medtronic Dr. Oesterle served on more than 20 boards as a director or observer and built a strong and enduring profile for Medtronic in the global venture capital community.

“After working closely with investors and entrepreneurs across the venture capital ecosystem for many years, I’m thrilled to join NEA during what I believe is an extraordinary time for medical technology,” said Dr. Oesterle. “With the firm’s scale, expertise and rich history of innovation, NEA stands to play an important role in shaping the future of medical technology, and I’m excited to work alongside the team to advance new products and treatments for improved patient care.”

Dr. Oesterle received his medical degree from Yale University in 1977 and completed his internship and residency at Massachusetts General Hospital. Following medical school, he received a fellowship in Interventional Cardiology at Stanford and served on the faculty at Stanford and Harvard Medical School and directed the Invasive Cardiology Services at the Massachusetts General Hospital and Stanford. Prior to medical school, Dr. Oesterle graduated summa cum laude from Harvard College.

About NEA

New Enterprise Associates, Inc. (NEA) is a global venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. With nearly $17 billion in cumulative committed capital since inception NEA invests in technology and healthcare companies at all stages in a company’s lifecycle, from seed stage through IPO. The firm's long track record of successful investing includes more than 200 portfolio company IPOs and more than 320 acquisitions. www.nea.com.