Proteus Digital Health, the unicorn company that puts circuitry on pills to monitor drug compliance, has had a management shakeup, in what appears to be a push on the part of investors to drive revenues. A release on the company’s site says that Molly O’Neill has been named Chief Commercial Office and Jonathan Symonds is the new chairman of the board.
O’Neill had been the senior vice president of business development at Tenet Health, a big hospital and healthcare facility company; her job is to make alliances with hospitals and payers. Symonds is chairman of HSBC Bank plc and had been CFO of the drug company Novartis; he’s been on the Proteus board since June 2014, when the company took $172 million in Series G funding from Yuan Capital. That round valued Proteus at $1 billion, according to Crunchbase.
The company also named Shumeet Banerji, the founding CEO of Booz & Company and board member of HP Inc., to its board. His brief is to “provide oversight on Proteus’ corporate strategy and operational performance among other topics of critical importance.”
Proteus has FDA approval to put circuitry on the drug Abilify to monitor prescription compliance. It also is the first company to be allowed by the FDA to claim it helps in medication adherence.