Caristo Taps M&A Veteran to Lead AI-Driven Heart Disease Fight

OXFORD, England and STAMFORD, Conn. – April 14, 2026 – Caristo Diagnostics, a University of Oxford spinout at the vanguard of using artificial intelligence to combat cardiovascular disease, has appointed Stephen M. Deitsch as its new Chief Executive Officer. The move signals a strategic pivot towards aggressive global growth, leveraging Deitsch’s formidable track record of scaling medtech companies and orchestrating high-value exits.

The appointment, effective immediately, sees former CEO Frank Cheng transition to the newly created role of Chief Operating Officer, a move designed to fortify the company's operational execution as it expands its commercial footprint. This leadership shuffle comes at a critical juncture for Caristo, as its AI-powered diagnostic tools begin to gain traction in the U.S. market and the company navigates the final stages of regulatory approval for its flagship technology.

A New Era of Strategic Growth

Stephen Deitsch is not just another executive; he is a seasoned financial strategist with a history of creating immense shareholder value. His appointment is a clear statement of intent from Caristo's board. Most recently, Deitsch served as Chief Financial Officer of OrganOx, another successful University of Oxford spinout. There, he was a key architect of the company's landmark $1.5 billion sale to Terumo Corporation in 2025—the largest spinout exit in the university's history. Before that, he guided medical device firm Paragon 28 through a successful IPO on the New York Stock Exchange.

This experience is precisely what Caristo's leadership was seeking as the company moves from a research-focused entity to a commercial powerhouse. "We are delighted to appoint Steve as Caristo's new Chief Executive Officer," said Michel Lussier, Chairman of the Board. "His deep understanding of the global medtech landscape, combined with his strong strategic vision and financial acumen, uniquely position him to lead the company through its next phase of growth."

Deitsch's arrival suggests a potential acceleration of Caristo's commercial strategy, which could include aggressive market expansion, securing significant new rounds of funding, and exploring strategic partnerships or even a future acquisition. His expertise in navigating the complex financial and strategic landscapes of the medtech industry will be invaluable as Caristo aims to establish its technology as a new standard of care in cardiology.

Revolutionizing Preventive Cardiology

At the heart of Caristo's mission is a fundamental shift in how cardiovascular disease is managed: from reactive treatment to proactive, personalized prevention. The company has pioneered AI-based technologies that analyze routine cardiac CT scans to uncover hidden risks long before a catastrophic event like a heart attack occurs.

The company's core innovation, CaRi-Heart®, is designed to detect and quantify coronary inflammation, a key underlying driver of heart attacks that is invisible to traditional diagnostic methods. By identifying this inflammation, clinicians can stratify patient risk with far greater accuracy and intervene with preventive therapies.

"I am honored to join Caristo at such a transformative moment, as coronary inflammation—an underlying driver of heart attacks—moves to the forefront of cardiovascular disease prevention," said Stephen M. Deitsch in a statement. "At Caristo, we have pioneered the first AI technology capable of detecting coronary inflammation and stratifying cardiovascular risk. In the hands of skilled clinicians worldwide, this innovation has the potential to shift care from a reactive to a truly preventive model, ultimately improving patient outcomes."

This focus on prevention aligns with a broader trend in healthcare, where AI is increasingly seen as a critical tool for early detection. Deitsch added, "I look forward to working with our talented team to expand the global reach of our technology and create meaningful value for patients, physicians, payers, and our shareholders."

Navigating the Crucial U.S. Market

While CaRi-Heart is already commercially available in the United Kingdom, Europe, and Australia, the United States remains the most significant and complex market to conquer. Caristo has made substantial inroads with its complementary technology, CaRi-Plaque™. This tool, which quantifies atherosclerotic plaque and stenosis (artery narrowing), received FDA clearance in 2025 and has since been launched in the U.S. It is now being adopted by a diverse range of customers, including hospitals, specialized imaging centers, physician practices, and even pharmaceutical companies using it in clinical trials.

The path for CaRi-Heart in the U.S. is becoming clearer, though it remains challenging. The American Medical Association (AMA) recently established new Category III CPT® codes (0992T and 0993T) for the technology. These temporary codes are a crucial first step, allowing providers to begin using the service and, critically, to collect the clinical and economic data needed to prove its value to insurers. However, Category III codes do not guarantee reimbursement, and payment is often decided on a case-by-case basis by individual payers.

The ultimate goal is to secure permanent Category I codes, which would establish a more consistent and reliable reimbursement pathway, thereby accelerating widespread adoption. This process requires extensive evidence of clinical efficacy and utility, a hurdle that Caristo is now focused on clearing as it awaits final FDA clearance for the CaRi-Heart technology itself.

A Dual Leadership Strategy for Execution

The decision to move Frank Cheng from CEO to Chief Operating Officer is a strategic one, designed to create a powerful leadership dyad. With Deitsch focused on high-level strategy, investor relations, and corporate development, Cheng can dedicate his full attention to the operational intricacies of scaling the business.

Cheng's tenure as CEO since 2023 was marked by critical achievements. He successfully steered the U.S. launch of CaRi-Plaque, drove its initial market adoption, and expertly navigated the complex regulatory and reimbursement pathways that led to the new CPT codes for CaRi-Heart. His deep institutional knowledge and proven operational capabilities are seen as indispensable assets.

"Frank has done an exceptional job leading Caristo through a pivotal period in its evolution," commented Lussier. "We are grateful for Frank's many contributions and look forward to his continued leadership as COO." This structure allows Caristo to retain its operational momentum and product expertise while simultaneously benefiting from Deitsch's experience in financial and strategic expansion, creating a well-rounded executive team poised for the challenges ahead.

The company is positioning itself not just as a technology vendor but as a partner in a paradigm shift. As the healthcare industry continues to embrace AI, the ability to provide actionable, preventive insights is becoming a key differentiator. Caristo's focus on the hidden threat of coronary inflammation places it at the forefront of this movement. With a strengthened leadership team and a clear path forward in key global markets, the company is set to play a defining role in the future of cardiovascular care.