SeaSpine Names Dennis L. Cirino Senior Vice President, Spinal Systems
July 02 2018 - 08:00AM
SeaSpine Holdings Corporation (NASDAQ:SPNE), a global medical
technology company focused on surgical solutions for the treatment
of spinal disorders, today announced that it has appointed Dennis
L. Cirino to the newly created position of Senior Vice President,
Spinal Systems, effective immediately.
Mr. Cirino brings over 25 years of spine industry experience
with numerous leadership roles in sales and marketing. Prior
to joining SeaSpine, Mr. Cirino spent eight years at NuVasive,
Inc., where he served in roles of increasing seniority, most
recently serving as vice president of market development for
computer-assisted surgery. Prior to NuVasive, Mr. Cirino spent ten
years at Medtronic, where he held senior marketing, development and
marketing services positions focused on spinal systems, biologics,
and pain stimulation. Mr. Cirino holds a Bachelor of Science
in Business Administration from Duquesne University and a
Master of Business Administration from the University of Notre
Dame.
As Senior Vice President, Spinal Systems, Mr. Cirino will lead
all aspects of the Company’s spinal implants activities and
initiatives. In this capacity, he will set direction for
product innovation and development, marketing services, surgeon and
sales education, and international strategy.
“Dennis’ deep experience building robust marketing programs,
implementing international strategy, and driving surgeon education
will serve us well as we leverage our recently launched and
increasingly differentiated products, which are critical to
accelerating our revenue growth,” said Keith Valentine,
president and chief executive officer of SeaSpine. “His strong
relationships in the spine industry further strengthen our
surgeon-centric approach to product innovation and mission to
deliver cost effective solutions to improve the quality of patient
lives.”
“SeaSpine’s focus on innovation and clinical value coupled with
its increasing investment in medical education and training has
positioned the company as the spine company of choice among both
surgeons and distributors,” said Mr. Cirino. “I am thrilled
to join this outstanding team and look forward to contributing to
their powerful vision.”
Inducement AwardsAs an inducement to accepting
employment with the Company, on June 30, 2018, the Compensation
Committee of the Company’s Board of Directors approved a restricted
stock unit award to Mr. Cirino with respect to 39,619 shares of
SeaSpine common stock, as well as restricted stock unit awards to
seven new, non-executive employees with respect to an aggregate of
6,660 shares of SeaSpine common stock. The awards are being
granted under SeaSpine’s 2018 Employment Inducement Incentive Award
Plan, which was adopted on June 29, 2018, and provides for the
granting of equity awards to new employees of SeaSpine. The
awards will be granted effective on the date SeaSpine files a
registration statement registering the common stock underlying the
awards, which filing is expected to occur this month, and will vest
in substantially equal installments on each of the first three
anniversaries of the grant date. The awards are intended to
comply with Nasdaq Marketplace Rule 5635(c)(4).
About SeaSpineSeaSpine (www.seaspine.com) is a
global medical technology company focused on the design,
development and commercialization of surgical solutions for the
treatment of patients suffering from spinal disorders. SeaSpine has
a comprehensive portfolio of orthobiologics and spinal implants
solutions to meet the varying combinations of products that
neurosurgeons and orthopedic spine surgeons need to perform fusion
procedures on the lumbar, thoracic and cervical spine. SeaSpine’s
orthobiologics products consist of a broad range of advanced and
traditional bone graft substitutes that are designed to improve
bone fusion rates following a wide range of orthopedic surgeries,
including spine, hip, and extremities procedures. SeaSpine’s spinal
implants portfolio consists of an extensive line of products to
facilitate spinal fusion in minimally invasive surgery (MIS),
complex spine, deformity and degenerative procedures. Expertise in
both orthobiologic sciences and spinal implants product development
allows SeaSpine to offer its surgeon customers a differentiated
portfolio and a complete procedural solution to meet their fusion
requirements. SeaSpine currently markets its products in the United
States and in over 30 countries worldwide.
Forward-Looking StatementsSeaSpine cautions you
that statements included in this news release that are not a
description of historical facts are forward-looking statements that
are based on the Company’s current expectations and assumptions.
Such forward-looking statements include, but are not limited to,
statements relating to: Mr. Cirino’s ability to leverage the
Company’s recently launched products to accelerate revenue growth
and Mr. Cirino’s ability to strengthen the Company’s product
innovation and ability to deliver cost effective solutions to
improve the quality of patient lives. Among the factors that
could cause or contribute to material differences between the
Company’s actual results and the expectations indicated by the
forward-looking statements are risks and uncertainties that
include, but are not limited to: surgeons’ willingness to continue
to use the Company’s existing products and to adopt its newly
launched products; the ability of newly launched products to
perform as designed and intended and to meet the needs of surgeons
and patients; the Company’s ability to attract new, high-quality
distributors; pricing pressure; supply shortages; the Company’s
ability to continue to invest in medical education and training,
product development, and/or sales and marketing initiatives at
levels sufficient to drive future revenue growth; and other risks
and uncertainties more fully described in the Company’s news
releases and periodic filings with the Securities and Exchange
Commission. The Company’s public filings with the Securities and
Exchange Commission are available at www.sec.gov.
You are cautioned not to place undue reliance on forward-looking
statements, which speak only as of the date when made. SeaSpine
does not intend to revise or update any forward-looking statement
set forth in this news release to reflect events or circumstances
arising after the date hereof, except as may be required by
law.
Investor Relations ContactLynn Pieper(415)
937-5402ir@seaspine.com
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