Dustin Shindo, the entrepreneur who co-founded alternate energy firm Hoku Corp., has been named chief executive officer and president of a medical equipment company he also started.

Shindo has served as board chairman of Kai Medical Inc. since it was founded in 2006 as Kai Technologies. He stays on as chairman, but will now be involved in day-to-day operations of the 12-employee startup.

The company's goals, Shindo said, is twofold. One of them is to grow shareholder value. The other is to make a difference in the state's health care.

“;I want to be able to make it more than just about money,”; he said yesterday. “;If you look at Hoku as well, obviously shareholder value was important. But we were very much interested in making a difference in the environment. In a way, this has the same principles.”;

Kai Medical's first product, a noncontact respiratory spot check dubbed the Kai Spot, will be commercially sold in the second half of this year. The company specializes in wireless vital signs measurement and monitoring products.

Shindo succeeds Andrea Yuen, who served as CEO since 2007. She will be the company's chief strategy officer and remain on the executive team.

He is still an adviser for Hoku Corp., formerly Hoku Scientific. Shindo led the company to an initial public offering four years after its 2001 inception. Shindo partnered with global customers, signing a total of $1 billion in contracts.

Kai Medical began in 2006 as Kai Technologies, working with the University of Hawaii in licensing technology to detect respiration and heartbeat through walls. The project was abandoned due to concerns over patents and commercial viability, however, and that working relationship ended.

The university remains a minority shareholder in the company, Shindo said.

The company's near-future strategy is to sell the Kai Spot technology, which is the first and only noncontact respiratory measurement device to receive 510(k) clearance from the U.S. Food and Drug Administration.

The company is looking to extend respiratory monitoring to a long-term basis. Currently the product monitors breathing and health conditions within a minute.

“;We want to be able to measure respiration over a long period of time,”; Shindo said. “;Instead of one unit per nursing station, we want one unit per bed. From a business standpoint it makes sense, there's more market opportunity and more opportunity to make a difference.”;

Shindo still sits on several boards, including Hawaii Nui Brewing Co. and Mehana Tea Co. He also founded Savingspoint and Mehana Capital.

During his exit out of Hoku, Shindo said his primary reason was family. The 36-year-old businessman was traveling more than 10,000 miles for 20 hours a week, taking time away from his wife Jamie and two children, ages 1 and 3.

It isn't that Shindo is working less. He says he still works 80 to 100 hours a week. But the transition has made large cuts into his travel time.

“;Obviously it's in my blood to be an entrepreneur,”; he said. “;Equally important personally, I get to spend more time with my family. This business doesn't have the same travel demands that Hoku did. ... Being able to see my kids more is exciting.”;