Sam Brusco, Associate Editor11.06.23
Cordis has appointed Scott Drake as the company’s new CEO, effective immediately. He was most recently Cordis’ executive chairman and succeeds Shar Martin, who has stepped down as CEO.
Drake has over 30 years of medical device experience, including president and CEO of Spectranetics Corp., where he grew shareholder value from about $170 million to $2.2 million during his six-year tenure. He’s served on numerous boards of directors: Zayo Group Holdings, Paragon 28, ViewRay, Bolder Surgical, the Medical Device Manufacturers Association (MDMQ), and was chairman of AtriCure.
"I want to thank Shar for all he has done to stand Cordis up as an independent company. I have been on the Cordis Board of Directors for over two years, and I am thrilled to be taking on a more active role as CEO," Drake told the press. "We are entering the next phase of the business, where Cordis is launching new products and driving a revolutionary business model with Cordis-X that will benefit our team, customers, patients, and shareholders."
“Scott Drake has been on the Cordis Board of Directors since we acquired Cordis in 2021,” said Hunter Philbrick, H&F partner and Cordis board member. “He has a long history building world-class medical device organizations, bringing to market groundbreaking patient saving innovations and driving commercial excellence – along with the reputation of attracting, retaining, and developing world-class talent. Scott believes in Cordis’ ability to transform the medical industry, and with him as CEO, Cordis will achieve its vision of pioneering breakthrough cardiovascular technologies.”
In October, Cordis completed an up to $1.13 billion deal for Swiss medical technology company MedAlliance.
Drake has over 30 years of medical device experience, including president and CEO of Spectranetics Corp., where he grew shareholder value from about $170 million to $2.2 million during his six-year tenure. He’s served on numerous boards of directors: Zayo Group Holdings, Paragon 28, ViewRay, Bolder Surgical, the Medical Device Manufacturers Association (MDMQ), and was chairman of AtriCure.
"I want to thank Shar for all he has done to stand Cordis up as an independent company. I have been on the Cordis Board of Directors for over two years, and I am thrilled to be taking on a more active role as CEO," Drake told the press. "We are entering the next phase of the business, where Cordis is launching new products and driving a revolutionary business model with Cordis-X that will benefit our team, customers, patients, and shareholders."
“Scott Drake has been on the Cordis Board of Directors since we acquired Cordis in 2021,” said Hunter Philbrick, H&F partner and Cordis board member. “He has a long history building world-class medical device organizations, bringing to market groundbreaking patient saving innovations and driving commercial excellence – along with the reputation of attracting, retaining, and developing world-class talent. Scott believes in Cordis’ ability to transform the medical industry, and with him as CEO, Cordis will achieve its vision of pioneering breakthrough cardiovascular technologies.”
In October, Cordis completed an up to $1.13 billion deal for Swiss medical technology company MedAlliance.