Owens & Minor taps former Thermo Fisher CCO Pesicak as prez, CEO | Personnel Moves – February 27, 2019

Owens & Minor CEO Pesicka

Owens & Minor (NYSE:OMI) said this month that it named former Thermo Fisher Scientific chief commercial officer Edward Pesicka as its new prez & CEO, effective March 4.

Pesicka will replace interim prez & CEO Robert Sledd, who will continue to serve as board chair, the Richmond, Va.-based company said.

Prior to his position as chief commercial officer, Pesicka served as CFO for divisions within Thermo Fisher Scientific, the company said. Before joining Thermo Fisher, Pesicka held corporate finance positions, including divisional CFO, at TRW.

“The board is extremely pleased to welcome Ed as the new CEO of Owens & Minor. Ed is a seasoned senior executive with a deep understanding of distribution, manufacturing and service within our industry. He also has a proven ability to lead performance improvement. During his time at Thermo Fisher Scientific, Ed was responsible for leading a portfolio of businesses focused on distribution, manufacturing and services. He demonstrated his sales and financial acumen and developed a reputation for providing outstanding customer service and driving strong financial results. We are pleased that our process resulted in identifying the ideal CEO,” Sledd said in a press release.

“After a thorough search and careful evaluation of candidates, the Board believes we have found the right leader with practical management and people development skills that align with our strategy. Furthermore, as a man of great integrity, Ed fits well with the Owens & Minor culture, making him an excellent fit for the role. We thank Bob for his willingness to step into the Interim CEO role and look forward to continuing to benefit from his wealth of experience as the chairman of our board,” search committee member & lead director Anne Marie Whittemore said in a prepared statement.

“I’m honored to be appointed to lead Owens & Minor, a company with a rich 137-year history of serving the healthcare industry and providing customers with the solutions they need to deliver exceptional patient care. I am committed to uncovering practical and innovative ways of improving the customer experience and driving value for shareholders. I look forward to working alongside our talented teammates and, together, furthering our mission of serving the healthcare industry across the continuum of care with integrity, dedication, innovation and passion,” Pesicka said in a prepared release.

 McGinley Orthopedics appoints ex-Xtant Medical head O’Connell as CEO

McGinley Orthopedics said earlier this month that it appointed former Xtant Medical (NYSE:XTNT) CEO Carl O’Connell as its new chief exec, effective February 4.

Prior to joining Xtant Medical, O’Connell served as extremities global marketing VP for Wright Medical (NSDQ:WMGI). O’Connell has also held positions with Stryker (NYSE:SYK), Carl Zeiss Meditec and Hudson Healthcare Partners, Casper, Wyo.-based McGinley said.

“We are proud to announce Carl O’Connell as our new CEO. With his extensive leadership in the medical device industry and commercialization expertise, we are confident he is the right choice to lead McGinley Orthopedics to new levels of growth and success. Carl has served as an advisor to the company for the last 5 years, and we share his enthusiasm for the outlook of the company,” co-founder Dr. Joseph McGinley said in a prepared statement.

“I am excited to lead what has the potential to be a world-class organization and a considerable competitor and innovator in the market. The company has exciting patented technology that will significantly improve safety and surgical outcomes. I look forward to expanding upon our recent successes and continuing to establish the strategic course to take McGinley Orthopedics to the next level,” O’Connel said in a press release.

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 Cirtronics lifts COO Patterson to prez & CEO

Contract manufacturing firm Cirtronics said last week that it is lifting current COO Dave Patterson to the position of prez & CEO, with founder and former CEO Gerardine Ferlins staying with the company as chief governance officer and board chair.

Patterson joined Cirtronics in 2010 as global sourcing director and become COO in 2012, the Milford, N.H.-based company said.

“Dave has been an integral part of the Cirtronics leadership team for the last eight years. With his steadfast commitment to the culture of Cirtronics and his years of operational experience, he is well equipped to take on his new role,” Ferlins said in a press release.

“I am humbled and very proud to be part of such a great organization. We are an organization led by a purpose – to be an example of how a company can serve society in an ethical and productive way. I look forward to taking the next steps in this journey together with the whole Cirtronics team,” Patterson said in prepared remarks.

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 Surmodics promotes corp dev & strategy VP Arens to CFO

Surmodics (NSDQ:SRDX) said earlier this month that it is promoting corporate development & strategy VP Timothy Arens to the position of CFO, effective immediately.

Arens has been serving as interim CFO since May 2018 following the departure of Andrew LaFrence, the Eden Prairie, Minn.-based company said.

“Tim has been an impressive partner to me and an invaluable contributor to our management team and Surmodics’ success during the past eight years. I am personally delighted that he has been formally appointed to the role. Tim’s excellent financial, operational and strategic skills and strong leadership are ideally suited to his new role as we continue to drive our strategic initiatives and financial goals of consistent and profitable long-term growth,” prez & CEO Gary Maharaj said in a press release.

“I am excited to work with a group of dedicated and talented colleagues to accelerate our strategic transformation while continuing to deliver on our operating commitments. Surmodics is well-positioned to execute on our strategic initiatives including the development of highly innovative products that benefit patients. I am looking forward to being part of that journey,” Arens said in prepared remarks.

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 Magnolia Medical taps Lehr as IP special counsel

Magnolia Medical Technologies said earlier this month that it named Matthew Lehr as its new intellectual property special counsel.

Prior to joining Seattle-based Magnolia, Lehr served as head of the IP litigation department at law firm Davis Polk & Wardwell.

“Intellectual property is a critical asset for any innovative medical device company that invests heavily to develop new technologies that drive important paradigm shifts in medicine. In our case, we have invested well over a decade along with significant resources to create the category known as initial specimen diversion to significantly improve sepsis testing accuracy. We will benefit from Matt’s expertise and active participation as we continue to drive hospital adoption of our Steripath platform to prevent blood culture contamination,” CEO Greg Bullington said in a prepared statement.

“I am pleased to work with Magnolia as they commercialize and protect their groundbreaking technologies, which directly improve the quality of care for patients. The company has built an extensive and broad intellectual property foundation that will allow them to maintain appropriate protection in numerous medical device categories in the years to come,” Lehr said in a prepared release.

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JenaValve names Kilcoyne as CEO | Personnel Moves – January 15, 2019


JenaValve Technology said today that it named former ReVision Optics prez & CEO John Kilcoyne as its new chief executive officer, effective immediately, replacing Dr. Victoria Carr-Brendell, who has taken up an executive leadership position with Sonova Holding AG (SIX:SOON).

Prior to his time at ReVision Optics, Kilcoyne served as prez & CEO at Micrus Endovascular where he led the company through an initial public offering in 2005 and an acquisition by Johnson & Johnson in 2010. He has also held positions at Solace Therapeutics and Endonetics, Irvine, Calif.-based JenaValve said.

“I am pleased to have the opportunity to lead JenaValve, and I look forward to working with the team to bring new, innovative solutions to the transcatheter valve market. Data from past and ongoing trials clearly indicate the strong potential that the JenaValve technology can greatly improve the health of patients with aortic stenosis and aortic regurgitation. Our focus in 2019 is on completing the current clinical development programs and gaining commercial readiness for potential international launch activities under CE mark and U.S. Humanitarian Device Exemption regulatory processes,” Kilcoyne said in a prepared statement.

“I am thrilled that John Kilcoyne has agreed to lead our company. In John, we have identified a dynamic and seasoned executive with an extensive background in driving medical businesses through the key stages of growth and value generation. His proven leadership qualities will be instrumental in bringing our breakthrough technology to the market and success for all stakeholders. Victoria made many significant contributions during her tenure at JenaValve. We are grateful for her contributions and wish her well in her future endeavors,” board chair Jan Keltjens said in prepared remarks.

Sonova said last November that Carr-Brendel was joining the company as cochlear implants group VP and advanced bionics prez. Prior to joining JenaValve, Carr-Brendel served as Boston Scientific peripheral interventions franchise general manager, the company said.

Sonova said that Carr-Brendel officially joined the advanced bionics division last December 3, and that they would take full responsibility as prez on April 1, according to a press release.

 Endologix taps Zehren as new chief commercial officer

Endologix (NSDQ:ELGX) said last week that it appointed John Zehren as its new chief commercial officer, effective January 7.

Prior to joining Irvine, Calif.-based Endologix, Zehren served as Medtronic neurovascular division Americas sales VP and a senior member of the company’s neurovascular management board. Zehren also held sales VP positions with Covidien and ev3, and held leadership positions with Edwards Lifesciences.

“We are proud to welcome John, an accomplished commercial medical device leader, to our executive team. He has demonstrated a strong track record of achievement, consistently implementing successful commercial strategies that resulted in impressive growth, share gains, and customer loyalty. We believe John will play a critical role in strengthening and extending Endologix’s customer partnerships and commercial execution, while leading the company’s global go-to-market strategy for our AFX2, Ovation, and Nellix platforms,” CEO John Onopchenko said in a prepared statement.

“I’m excited to join an organization that has driven so much innovation in the cardiovascular segment and believe that we have an excellent opportunity to strengthen our customer partnerships and secure increased market share and procedural growth around the globe. I look forward to working with the Endologix team to drive commercial excellence and bring our differentiated, life-saving technology to more patients in need,” Zehren said in a press release.

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 Outset Medical appoints Aragon as CMO, Porter as people ops VP

Outset Medical said today that it appointed Dr. Michael Aragon as its new chief medical officer and Stacey Porter as its people operations VP.

Prior to joining San Jose, Calif.-based Outset Medical, Aragorn served as a medical director for DaVita and U.S. Renal Care and was a founding partner and president of the North Texas Kidney Consultants. He currently serves as board chair for the End-Stage Renal Disease Network of Texas, Outset Medical said.

“The leadership team at Outset is dedicated to improving care for patients with end-stage kidney disease with a simplified, more cost-effective dialysis solution. Having served hundreds of patients firsthand for more than a decade, I’ve seen the burden of dialysis on patients, their families, and their healthcare providers. I share Outset’s passion for bringing much-needed innovation to the industry, and look forward to helping lead the organization as it transforms the dialysis experience,” Aragon said in a press release.

Porter has more than 18 years of leadership development and organizational learning implementation, and previously served as head of global talent development fo Intuitive Surgical. Prior to joining Intuitive, she held leadership roles at VMware and Roche.

“There are more than 500,000 end-stage renal disease patients in the United States whose lives depend upon dialysis and the companies working to improve and expand treatment options. I am excited to join the exceptional team that Outset has already built, and look forward to helping contribute to the growth and development of this talented and committed group,” Porter said in a prepared statement.

“We are thrilled to welcome Michael and Stacey to the Outset Medical team. Both are outstanding leaders and experts in their fields, and will play an instrumental role in helping us deliver on our mission to improve global dialysis care and offer a better experience for providers and patients. Michael joins an esteemed group of nephrology experts involved with Outset including Dr. Glenn Chertow, Chief, Division of Nephrology, Stanford University School of Medicine; Dr. Sarah Prichard, an academic nephrologist and former medical affairs and R&D leader at Baxter; and Dr. Luis Alvarez, Chair of Nephrology, Palo Alto Medical Foundation, Sutter Health, and Outset’s chief advisor for technology and innovation,” CEO Leslie Trigg said in a prepared release.

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 Xtant Medical taps Berlin as COO, VP

Xtant Medical (NYSE:XTNT) said last week it tapped Ronald Berlin as its new COO and VP, effective January 1.

Prior to joining Belgrade, Mont.-based Xtant Medical, Berlin served as global ops VP at CoorsTek Medical. He has also held leadership positions with Integra LifeSciences and Stryker, the company said.

“Ron is an accomplished healthcare executive with significant operations and quality management expertise and we are pleased that he has joined our executive management team. In addition to the operational leadership he will provide to the organization, he is a strong strategic, cross-functional leader. His appointment continues our commitment to building a highly skilled management team,” interim CEO Michael Mainelli said in a press release.

“I’m particularly pleased to be joining this exceptional, newly appointed executive leadership team and look forward to helping the Company continue to transform its business and drive shareholder value,” Berlin said in a prepared statement.

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 Digirad adds interim CFO duties to COO Noble

Digirad Corp. (NSDQ:DRAD) said yesterday that its current chief operating officer David Noble will take on the role of interim CFO for the company, effective today.

Noble, a veteran of finance and business building of over 20 years, previously held financial and management roles with HSBC and Lehman Brothers, the Suwanee, Ga.-based company said in an SEC filing.

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Xtant Medical plans refinancing, 12-to-1 reverse stock split


Xtant Medical

Xtant Medical (NYSE:XTNT) said today it launched restructuring and refinancing efforts, including a 12-to-1 reverse stock split, as it looks to reform its capital structure, meet liquidity needs, regain compliance with the NYSE and position itself for better long-term growth.

The efforts include inking a restructuring and exchange agreement with ROS Acquisition Offshore, OrbiMed Royalty Opportunities and holders of its 6% convertible senior unsecured notes due 2021, Xtant said.

The Belgrade, Mont.-based company said that as part of the eforts, it converted $1.6 million in notes issues in January 2017 into shares of common stock at a rate of roughly 76¢ per share, creating 2.3 million shares in the company.

The plan includes a 1-for-12 reverse stock split, which will put a single share of its stock in the hands of individuals for each 12 pre-split shares they owned. The reverse split is dependent upon shareholder approval, Xtant said.

Following the reverse stock split, Xtant said the remaining $70.2 million in aggregate principal amount of notes will be exchanged for issues of common stock at the exchange rate of $7.20 per share, for approximately 10.4 million new shares.

The company said that ROS and OrbiMed have agreed to purchase approximately $6.8 million shares of common stock at $7.20 per share, dependent upon the reverse stock split .

“We are pleased to have signed an agreement to restructure and recapitalize our debt with the noteholders. This will reposition the company for long-term growth and allow the company to regain compliance with the NYSE American. Furthermore, the private placement will provide the liquidity to meet our operating needs going forward,” CEO Carl O’Connell said in a press release.

Last October, Xtant Medical revealed plans to close its Dayton, Ohio facility and transition its operations to the company’s headquarters in Belgrade, Montana.

7 medtech stories we missed this week: August 11, 2017

[Image from unsplash.com]

From Xtant Medical’s 510(k) extension to Varian Medical’s distribution deal, here are seven medtech stories we missed this week but thought were still worth a mention.

1. FDA extends Xtant Medical’s 510(k) for Calix C spinal implant

Xtant Medical announced in an Aug. 9 press release that the FDA has cleared its product line extensions for the Calix-C cervical inter body cages. The clearance allows for two larger footprints to be added for use with allograft. The Calix-C Cervical Interbody Spacer is designed for spinal fusion procedures at level one in patients who are skeletally mature. It is supposed to be used with spinal fixation systems like Xtant Medical’s Spider Cervical Plating and Certex Spinal Fixation Systems.

2. Life Spine touts first use of TiBow spacer

Life Spine has announced the first clinical use of its TiBow MIS TLIF Expandable Spacer System with Osseo Loc Surface Technology in an Aug. 8 press release. TiBow is designed for in-situ expansion for increased endplate coverage and stability for minimally invasive TLIF and oblique approaches. It gives the surgeon the ability to restore sagittal alignment.

3. Cardiac Science inks deal to supply AEDs to Philadelphia schools

Cardiac Science announced in an Aug. 8 press release that it has reached a deal with the School District of Philadelphia to make automated external defibrillators (AEDs) available in all 220 Philadelphia schools. Philadelphia’s high schools and middle schools already have the Cardiac Science Powerheart G3 and G5 AEDs in place and the elementary schools are set to receive the company’s Powerheart G5 units.

4. ApiFix wins nod in Australia

ApiFix has received TGA certification through its Orthotech Pty. distributor to market the ApiFix system in Australia, according to an Aug. 8 press release. The ApiFix system is designed to treat and correct adolescent idiopathic scoliosis (AIS) using a minimally-invasive surgical approach. The system is a non-fusion spinal implant system that is designed to improve the quality of life of patients who have to have scoliosis surgery.

5. Pentax Medical launches slim linear ultrasound

Pentax Medical announced in an Aug. 9 press release that it has launched its new Slim Linear Ultrasound Endoscope in the U.S. The endoscope features a smaller insertion tube, a smaller distal end and a shorter bending section to help endoscopies see and reach hard-to-access anatomy.

6. Hip Innovation launches clinical trial of novel hip replacement system

Hip Innovation Technology has started its clinical trial to evaluate the effectiveness and safety of the HRS lead hip replacement system, according to an Aug. 9 press release. The clinical study will include 100-120 patients who are scheduled to receive a total hip arthroplasty. The company plans to test effectiveness using clinical radiologic, radiostereometric and patient-reported outcomes. It will measure safety through collecting device-related adverse events. They will also assess the quality of life of each patient.

7. Varian Medical inks distribution deal with Bionix radiation therapy

Varian medical Systems announced in an Aug. 9 press release that it has entered an agreement with Bionix Radiation Therapy to distribute the Bionix brachytherapy applicators in North America. Varian has agreed to market the Bionix Esophageal Application (E-App) and the Anorectal Applicator (AR-1). E-App is a disposable brachytherapy applicator that is designed to treat upper GI cancers. It has five independently operated balloons that help maintain the central position of source catheters in straight and curved anatomy. AR-1 is a disposable brachytherapy applicator that is designed to treat anal and rectal cancers. It allows for exophytic tumors to press closer to a source catheter to deliver a very high dose to the tumor while keeping healthy tissues safe.

Here’s what we missed last week.

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