In short
Small Bone Innovations, Inc. (SBi), has announced the appointment of Michael P. Simpson as President and Chief Executive Officer, effective February 21, 2012. Anthony G. Viscogliosi, SBi’s Founder, Chairman and CEO since its formation in 2004, will step up to the new position of Executive Chairman.
Background
Mr. Simpson held several senior executive positions during his nine year career at Orthofix, Inc., a unit of Orthofix International NV. During his career as a division President at Orthofix, an orthopedic devices company with $575 million-plus revenues in 2011, he managed the global development and distribution internationally of the product portfolio, including foot and ankle technologies, with full P&L responsibility. Mr. Simpson will report to the Executive Chairman and the SBi Board of Directors, and become a member of both SBi’s Operating and Executive Committees. As President and CEO, all officers of the company will report to him in support of his primary task of generating continued success and profitability from SBi’s global sales and operations.
Company comments
Mr. Viscogliosi said: “SBi’s revenues, excluding discontinued products, have been growing at a compound average annual growth rate of 27 percent during the period 2006-2011, achieving critical mass in terms of balance sheet, revenues, product portfolio and a distribution network serving 41 countries. Having established and secured this platform for continuing growth and profitability, SBi’s Board of Directors and I decided that we had reached the point where an executive seasoned in growing a critical mass platform into a larger scale business should now be recruited as our CEO with a mission to ensure continued growth by leveraging our portfolio of market leading products.”
“Michael P. Simpson is a great choice to seize this opportunity, based on his track record at Orthofix. He is a deeply experienced professional in the orthopedics industry who understands the extremities implant market and the demand for evidence-based medicine in terms of pain elimination and joint preservation,” he added.
Simmo’s excited too
“SBi has an enviable record of essentially redefining the small bone and joint sector by introducing innovative arthroplasty and joint-related trauma technologies such as the market leading STAR™ Total Ankle Replacement and the line of RingFIX™ lower limb products designed to treat patients with diabetic foot complications. This unique platform offers an opportunity to leverage my skills and experience to help SBi extend its penetration of the rapidly growing $3.3 billion small bone and joint market,” Mr. Simpson said.
Source: Small Bone Innovations Inc
published: February 24, 2012 in: Extremity, Orthofix, Orthopaedics, People, USA