Fuse Oncology, fresh off a $3 million fundraise, has named a new CEO as the startup looks to transition from the development stage into growth mode.
James Bauler, who helped stand up Fuse Oncology as a principal at Cone Health Ventures and went to become the company's CFO, will now serve as the company's CEO.
Bauler takes over as CEO from Dr. B.J. Sintay, who founded the company with Chief Technology Officer David Wiant in 2021. Sintay, who is executive director of radiation oncology and chief physicist at Cone Health, had planned to step down from the role once Fuse's core product, S!GNAL, was developed. He will continue to be involved with Fuse in product development and innovation.
Bauler will continue in his role at Cone Health Ventures, which has a portfolio of 16 health technology companies, including Fuse Oncology.
In his new role, Bauler will be responsible for accelerating company growth; assembling and expanding a team to support goals; refining business models; and ensuring the Fuse vision is carried out through delivery of a high-quality, intuitive suite of oncology solutions.
Bauler is confident the company is ready to grow both its customer footprint and product offerings. He pointed out that the company has been "in revenue" since it put S!GNAL on the market in the first quarter of 2022. Fuse has three commercial contracts signed and several others in the pipeline for SIGNAL.
Fuse promises radiation oncology practices a "seamless business and clinical intelligence solution" that closes the gap between clinical experience and coding/billing. S!GNAL automates revenue cycle verification at each step and closely monitors both structured and unstructured data. The goal is to improve outcomes for both the patient and the provider.
"We have gotten in front of 25% of the market, and 50% had a positive response," said Bauler, adding that everyone who has used the program on a pilot basis has shown interest in continuing the relationship.
"We feel very confident that the market fit is there."
Bauler said that in addition to offering a good business solution, Fuse offers the opportunity to have "an immediate impact on people’s lives."
Fuse has a mix of 24 employees and contractors, Bauler said, and he expects that number to grow by 50% or more in 2023.
"It's been a privilege to work alongside B.J. as he led the spinout and launch of Fuse. We have a dynamic team, great partners, and a powerful platform to transform the radiation oncology experience," Bauler said. "If we want to improve health care in the U.S., we have to reduce the burden on providers, improve the patient experience, increase the efficiency, and decrease the cost— all while improving outcomes. As CEO, I am excited to see Fuse make this happen in radiation oncology."
Bauler joined Cone Health Ventures, which develops products and services with entrepreneurs in the health and wellness fields, in December 2020 after spending about three years as director of corporate development at Flag Therapeutics in Raleigh.
"I connected with David Heenan, who was leaving the American Cancer Society to join Cone Ventures," said Bauler, who also spent almost nine years in various roles at Samaritan's Purse. "I was offered the chance to join him, and I thought it sounded like a great opportunity."
Not long after joining Cone Ventures, Bauler connected with Dr. Sintay and Wiant as they were looking to commercialize their idea and served basically as an entrepreneur in residence.
"I've been involved since the inception of the idea to go commercial," Bauler said.
He was asked to serve as the company's CFO, and "when the time time came to recruit a CEO, multiple folks asked me to consider."
Bauler accepted after receiving the blessing of Cone Health Ventures, which is led by Mark Rainosek and Jay Brennan.
"I'm grateful for the opportunity and for the environment Cone has created," said Bauler, adding it "deserves a tip of the hat" for creating a culture of innovation.
