SurModics Recruits New Finance Head - Analyst Blog
December 28 2012 - 3:20AM
Zacks
SurModics, Inc.
(SRDX), a provider of surface modification and drug delivery
technologies to the healthcare industry, recently revealed that it
has appointed Andy LaFrence as the chief financial officer (CFO)
and Vice President of finance. He will take over the reins
effective February 12, 2013. LaFrence will replace Timothy Arens,
the current interim CFO at SurModics.
Going forward, Timothy Arens will assume responsibility as the Vice
President of corporate development and strategy. He will be
responsible for framing strategies and assessing growth
opportunities for the Medical Device and In Vitro Diagnostics
segments at Surmodics. We note that SurModics currently operates
through these two divisions.
The new CFO will be responsible for leading the entire financial
activities at SurModics. His will be in charge of activities, such
as controlling, financial planning and analysis, treasury, tax,
audit and investor relations.
LaFrence, a certified public accountant, brings with him more than
20 years of experience to SurModics pertaining to finance and
capital markets. LaFrence has donned many important roles in his
illustrious career. Previously, he was the CFO of CNS Therapeutics
(now a wholly owned subsidiary of Covidien plc
(COV)). Prior to that, he acted as an audit partner at KPMG, where
he concentrated on supporting public and private, high-growth
medical technology, pharmaceutical and biotechnology entities.
Taking into account LaFrence’s vast experience in the finance and
capital markets, he can easily be labeled as a veteran in that
field. LaFrence’s comprehensive sector know-how and expertise is
expected to be beneficial to SurModics.
We have a long-term Neutral recommendation on SurModics. Also, it
holds a short-term Zacks #3 Rank (Hold). However, Quidel
Corporation (QDEL), which operates in the same industry as
SurModics, appears to be better- positioned. The stock carries a
Zacks #2 Rank (Buy).
COVIDIEN PLC (COV): Free Stock Analysis Report
QUIDEL CORP (QDEL): Free Stock Analysis Report
SURMODICS (SRDX): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
QuidelOrtho (NASDAQ:QDEL)
Historical Stock Chart
From Sep 2024 to Oct 2024
QuidelOrtho (NASDAQ:QDEL)
Historical Stock Chart
From Oct 2023 to Oct 2024