Board of Directors
David J. McNally, Chairman of the Board, Chief Executive Officer, and President
Mr. McNally is a successful serial entrepreneur. He co-founded ZEVEX International in 1986, which became a NASDAQ-traded medical device company, and served as its Chief Executive Officer from 2000 to 2007. He led the company to earn medical device industry innovation awards and to be recognized as a technology leader in surgical instruments, medical sensors and fluid delivery systems. As CEO, he negotiated the $84 million sale of the company to strategic acquirer Moog in 2007. He is also the founding manager of NEXsprouT LLC, the technology commercialization company that seed funded Domain Surgical in 2009.
Prior to ZEVEX, Mr. McNally held various positions in marketing and sales management with EDO Corporation and Physical Acoustics Corporation. He began his career as an advanced methods development engineer with Hercules Incorporated.
Mr. McNally earned a Bachelor of Science degree in Mechanical Engineering from Lafayette College in 1983, with an emphasis in computers and instrumentation, and an Executive Master of Business Administration degree from the University of Utah in 1992. He is an inventor on 14 issued patents, with 16 additional patents pending.
Phillip L. McStotts, Chief Financial Officer
Mr. McStotts co-founded ZEVEX International and served as its Chief Financial Officer, Director, Secretary and Treasurer from its inception in 1986 until its sale to a strategic acquirer in 2007. Earlier in his career, Mr. McStotts was a practicing CPA running his own professional corporation, Phillip L. McStotts, CPA P.C. and also served as Tax Manager for Petersen, Sorensen & Brough and Chachas & Associates.
Mr. McStotts received a Bachelor of Science Degree in Accounting from Westminster College in 1980, and received a Master of Business Administration Degree in Taxation from Golden Gate University in 1982. He is a member of the American Institute of Certified Public Accountants.
Mr. Shanaman is highly regarded in business circles throughout the Western United States as the founder of the first venture capital fund in Utah, Utah Ventures, where he served as both General and Limited Partner.
Mr. Shanaman currently serves as a board member of Morgan Stanley Bank NA, where he chairs the Compensation Committee and is a member of the Audit Committee. Mr. Shanaman is also a trustee of the Wayne Brown Institute in Salt Lake City, a nonprofit organization committed to entrepreneurship.
From 2003 to 2007, Mr. Shanaman was a director of ZEVEX International (NASDAQ), a manufacturer and marketer of medical devices, where he was Chairman of the Audit Committee. Past board positions also include TruVision, from 2005 to 2008, a privately held company that marketed vision care services through health plans nationwide; Western Electronics, from 2003 to 2005, a tier II contract manufacturer, where he was Chairman of the Audit Committee; and Lombard Investments, from 1987 to 2003, a San Francisco, California-based private equity fund with $1.2 billion under management, where he was Chairman of the Compensation Committee.
Mr. Shanaman served as a director and Senior Executive Vice President at Prudential Investment Services from 1984 to 1985. He served as Vice Chairman and Chief Financial Officer of American Stores Company (NYSE), a national drug and grocery retailer, from 1974 to 1983.
Mr. Shanaman earned a BA in Economics from Dartmouth College in 1958, and he attended the Stanford Graduate School of Credit and Financial Management between 1966 and 1968.
Mr. Levinthal has over 26 years of venture capital investing experience and currently lives in Park City, Utah where he works as an independent venture capitalist helping to advise companies in the intermountain area. Mike spent 20 years with the Mayfield Fund. During his tenure at Mayfield, Mike worked to sponsor such successes as Citrix, Concur Technologies, Heartstream, Pure Software and WebMethods. Additionally, he founded Mayfield Software Partners, a side fund consisting of 20 leading software entrepreneurs as investors. He began his career in venture capital at New Enterprise Associates (NEA). While at NEA, Mike founded ONSET Ventures, a venture firm specializing in incubating new companies.
Mike holds an MBA from the Stanford Graduate School of Business. He also received both his MS and BS degrees in Engineering from Stanford University. He has served as an advisory board member to the Stanford Technology Venture Program and established the Mayfield Fellows program at Stanford University and University of California at Berkeley. Mike is also an inventor and holds U.S. Patent 5,593,426, Defibrillator System Using Multiple External Defibrillators and a Communications Network.
Mike's current board seats include Applabs, Alliance Health Networks, Alxscloset.com, High West Distillery, Matchbin, Orabrush, Swarmbuilder, and Zinch, He is also a Special Limited Partner of 2X Management which is a venture fund focused on growth capital opportunities in the consumer space. He was on the board of Altiris (ATRS) until its acquisition by Symantec for $1 billion.
Stephen MacMillan is currently CEO of sBiomed, a biomedical infection control product firm, headquartered in Orem, Utah. He recently served as Chief Executive Officer of Stryker from January 1, 2005 to February 2012 and served as its President from June 1, 2003 to February 2012.
Mr. MacMillan began his career with Procter & Gamble in 1985 and later spent 11 years with Johnson & Johnson in both the U.S. and Europe, and became President of the joint venture between Johnson & Johnson and Merck. In 2000, he joined Pharmacia Corporation’s Executive Committee where he oversaw five global businesses with revenues exceeding $2 billion.
Mr. MacMillan has also served on the Board of Directors of Texas Instruments, the Greater Kalamazoo United Way and AdvaMed, and was a member of the Institute of Medicine’s Roundtable on Value & Science-Driven Health Care. In 2010, Mr. MacMillan was also appointed by the U.S. Commerce Secretary to a two-year term on the U.S. Manufacturing Council, a group which advised the administration on ideas to create more U.S. manufacturing jobs.
He received a Bachelor of Arts degree in Economics from Davidson College and is a graduate of Harvard Business School’s Advanced Management Program