|Quasar Medical, a leading global contract manufacturer of high precision, minimally invasive medical devices, announces today that its board of directors has named Alex Wallstein as Chief Executive Officer.|
Ayal Amitai, CEO since July 2005, is stepping down as CEO and transitions to Executive Director of the Board and Sr. Advisor to the CEO, as well as retaining his shareholdings in Quasar.
Ayal joined Quasar in 1999 as Marketing & Sales Manager in Israel, UK, and later USA. Ayal was instrumental in driving Quasar’s focus on high complexity, minimally invasive medical devices and expansion of Quasar’s footprint. Under his leadership, Quasar built over 5,000m2 of clean room with manufacturing plants in China and Thailand, an Engineering Center in Israel, as well as offices in the US, EU, and China.
“I am very proud of what the team has achieved in the past 16 years. It was a privilege to lead Quasar and I couldn’t be happier welcoming Alex to the Quasar team. I look forward to supporting Alex in this transition and maintaining my involvement in my new roles. Together, we are absolutely confident in Quasar’s great future success.” said Ayal Amitai.
Alex Wallstein comes with many years of senior management experience in the medical device industry, including positions at Johnson & Johnson and Medtronic in Minneapolis and Shanghai. Alex received a BS in Medical Computer Science from Ruprecht-Karls-University in Heidelberg, a Master of Engineering from Eidgenössische Technische Hochschule (ETH) Zürich, and an MBA from the University of Chicago.
“I am deeply honored to be chosen as Ayal’s successor and I look forward to leading Quasar’s next chapter as we continue to build capabilities. Having worked in the medical device industry, it is a special privilege to now return to working with top brands as a strategic supplier. Investing into what makes Quasar great will unlock many opportunities to grow further. I am excited to join the Quasar team in Hong Kong.“ said Alex Wallstein.
“During Ayal’s tenure, Quasar flourished into a global business, consistently growing its manufacturing footprint and customer engagement. In 2019, Boaz and Ayal invited The Longreach Group as a Private Equity partner, with capital and expertise to further accelerate Quasar’s journey. Our partnership with Boaz and Ayal continues as shareholders and with their strong support and advice. Alex’s appointment as CEO opens an exciting new chapter for Quasar’s growth. His experience, leadership and passion will help drive Quasar up to the next level of performance.” said Mark Chiba, Chairman of the Board.
Ayal Amitai Mark Chiba
Executive Director, Quasar Medical Chairman of the Board