Babson Diagnostics Appoints Former Siemens Healthineers Executive to CEO

AUSTIN, Texas–(BUSINESS WIRE)–Babson Diagnostics (Babson), a transformative medical technology company, has appointed David Stein, Ph.D., former head of global strategy and innovation at Siemens Healthineers, to chief executive officer. Eric Olson, Babson’s founder and former CEO, will assume the roles of chairman of the board and chief operating officer.
Dr. Stein—who holds a doctorate in engineering from Johns Hopkins University—also serves as a board member for Babson. His prior roles include head of strategy and innovation for Siemens Healthineers, CEO of Siemens’ point of care businesses, and global vice president of engineering within Siemens’ diagnostics division. Dr. Stein was instrumental in incubating Babson in the company’s earliest days.

“David and I have worked together for 20 years, and when he became available, the timing was perfect to expand the management team and take Babson into the next phase of growth,” Olson said. “I’ve known David personally and professionally for most of my career. I know what he can achieve and I trust he’ll achieve it with integrity. His expertise in leading business development on behalf of the world’s leading medical technology companies will prove invaluable to Babson as we work to transform the diagnostics industry.”

The announcement follows the company’s recent closing of its $13.7 million Series A funding. The funding raise and expansion of the company’s management team enable Babson to build upon its strategic partnerships, proprietary technology ecosystems, and clinical study programs underway with key retail partners.

Olson will continue to lead Babson’s operations, technology, and clinical affairs, while Dr. Stein will lead the formation of the company’s commercialization, marketing, and business development teams.

“Eric and the Babson Diagnostics team have built a truly unique diagnostics model underpinned by the world’s leaders in health care innovation,” Dr. Stein said. “The broad interest in Babson’s recent Series A funding exemplifies the demand to redefine in-vitro diagnostic testing and will be critical in supporting Babson Diagnostics’ mission to fundamentally change how samples are collected, processed and analyzed. It’s an honor to join the core team to bring Eric’s vision to life.”

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Written by hsandm

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