SAN DIEGO, July 27, 2017 /PRNewswire/ -- NuVasive, Inc.
(NASDAQ: NUVA), a leading medical device company focused on
transforming spine surgery with minimally disruptive,
procedurally-integrated solutions, today announced a new
organizational structure to drive the Company's growth and
profitability goals, supporting its strategy to help deliver safer,
more predictable spine surgery.
"As the innovation pioneer and largest, pure-play spine
technology company, NuVasive continues to deliver significant value
to its customers and shareholders," said Gregory T. Lucier, NuVasive's chairman and chief
executive officer. "With incredible opportunities ahead, we are
taking steps to refine the company's operating structure to tightly
align strategy, product development and marketing and integrate our
global commercial channels, while scaling global operations to best
address the growing needs of our partners and patients."
Today the Company announced that Jason Hannon, president and chief operating
officer, is stepping down from his position to pursue other
interests. He will remain with NuVasive through the end of the year
in an advisory capacity. During Mr. Hannon's successful 12-year
career at NuVasive, he has made countless important contributions
to the Company. In connection with Mr. Hannon's departure, the
Company has accelerated its timeline to implement organizational
changes that will position NuVasive to execute against the
Company's strategic goals. Effective August
1, the Company will:
- Align strategy, technology and marketing to build a world-class
product development and commercialization capability;
- Integrate its U.S. Commercial and International sales functions
into a scalable global commercial organization; and
- Transform global operations to drive operational efficiencies
through the combination of manufacturing, supply chain, information
technology (IT), regulatory affairs and quality assurance
(RA/QA).
Matt Link, president, U.S.
Commercial is being promoted to a key leadership role as executive
vice president, Strategy, Technology and Corporate Development, a
newly created position to further drive the Company's innovation
agenda. Mr. Link is a long-tenured NuVasive executive with more
than 15 years of industry experience, including extensive knowledge
of the U.S. spine marketplace, as well as surgeon and hospital
dynamics. In this role, he will lead product and systems
development, global marketing, surgeon education, clinical research
and corporate development. Mr. Link's experience in surgeon
requirements and commercial operations will be key as NuVasive
continues to bring leading innovation to market.
Skip Kiil, executive vice
president, International is named executive vice president, Global
Commercial. Mr. Kiil joined NuVasive in June and has more than 15
years of experience as a global medical technologies and life
sciences business leader. He was previously with Alcon, a division
of Novartis Corporation, where he most recently served as surgical
head, Europe, Middle East, Africa and Russia. He is a proven leader in managing and
growing complex, global commercial enterprises internationally and
domestically within the healthcare and spine technology industries.
His strategic and operational expertise in market entry and
development are critical as NuVasive seeks to double its
International market share in the coming years and further expand
the Company's position in the U.S. marketplace.
Steve Rozow, vice
president, Global Operations, assumes an elevated role as executive
vice president, Global Process Transformation, including IT and
RA/QA, in addition to his current Global Operations
responsibilities. Since joining NuVasive in 2015, Mr. Rozow has led
improvements in supply chain and fulfillment, as well as the
successful development of the Company's new manufacturing facility
in West Carrollton, Ohio. Mr.
Rozow is an experienced medical device leader including more than
20 years with Zimmer, where he served in various manufacturing and
operational leadership roles. His position is critical as the
Company focuses on scaling global operations and driving
operational improvement initiatives.
Unrelated to the organizational updates announced today, the
Company has accepted the resignation of its chief financial
officer, Quentin
Blackford, effective August 25, 2017. Mr.
Blackford is pursuing another opportunity outside the spine
industry and has agreed to remain with the company during this
transition period. Mr. Blackford's resignation is not the result of
any dispute or disagreement with NuVasive, including any matters
relating to the Company's accounting practices or financial
reporting. Vickie Capps, in her role as an independent member
of NuVasive's board of directors and a member of the audit
committee, will provide guidance and support to the Company's
financial organization during the transition period. Ms. Capps is a
well-respected financial executive, having served as CFO of DJO
Global, as well as CFO of several public and private companies. Ms.
Capps will also assist the Company in its search for a successor to
Mr. Blackford.
"Since becoming CEO over two years ago, I have been working with
our board to build a world-class leadership team to support our
revenue growth and profitability goals. Together, we are executing
against our 5-year strategic plan and building a deep bench of
talent, positioning us well to execute against our short- and
long-term initiatives. I remain more confident than ever in our
Company's position to take on the next $1
billion in growth," said Lucier.
About NuVasive
NuVasive, Inc. (NASDAQ: NUVA) is transforming spine surgery
and beyond with minimally invasive, procedurally-integrated
solutions designed to deliver reproducible and clinically-proven
surgical outcomes. The Company's portfolio includes access
instruments, implantable hardware, biologics, software systems for
surgical planning, navigation and imaging solutions, magnetically
adjustable implant systems for spine and orthopedics, and
intraoperative monitoring service offerings. With $962 million in revenues (2016), NuVasive has an
approximate 2,300 person workforce in more than 40 countries
serving surgeons, hospitals and patients. For more information,
please visit www.nuvasive.com.
Forward-Looking Statements
NuVasive cautions you that statements
included in this news release that are not a description of
historical facts are forward-looking statements that involve risks,
uncertainties, assumptions and other factors which, if they do not
materialize or prove correct, could
cause NuVasive's results to
differ materially from historical results or those expressed or
implied by such forward-looking statements. The potential risks and
uncertainties which contribute to the uncertain nature of these
statements include, among others, risks associated with acceptance
of the Company's surgical products and procedures by spine
surgeons, development and acceptance of new products or product
enhancements, clinical and statistical verification of the benefits
achieved via the use of NuVasive's products
(including the iGA® platform), the Company's ability to
effectually manage inventory as it continues to release new
products, its ability to recruit and retain management and key
personnel, and the other risks and uncertainties described
in NuVasive's news releases
and periodic filings with the Securities and
Exchange Commission. NuVasive's public filings
with the Securities and Exchange
Commission are available
at www.sec.gov. NuVasive assumes
no obligation to update any forward-looking statement to reflect
events or circumstances arising after the date on which it was
made.
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SOURCE NuVasive, Inc.