Covidien Elects New Treasurer

Covidien Elects New Treasurer

Dublin, Ireland-based Covidien plc has appointed Gregory S. Andrulonis vice president and treasurer. He already has assumed responsibilities.

Andrulonis succeeds Kevin G. DaSilva, who will remain vice president and group chief financial officer. He will be responsible for finance activities in Covidien’s respiratory and monitoring solutions and vascular therapies global business units, as well the company’s businesses in Japan, Australia, New Zealand and Canada, a position he has held since July 2011. DaSilva served as treasurer of the company since June 2007, when Covidien separated from Tyco International and became an independent company.

Andrulonis previously served as vice president and assistant treasurer of capital planning and markets, responsible for all aspects of Covidien’s capital markets, capital planning and credit functions. This included equity and debt financing activities in the financial markets, capital planning and structure, interest rate and foreign exchange rate risk management, global credit and collections and retirement plan investments. He held this position since it was created in June 2007.

Before Covidien became its own company, Andrulonis was the director of capital markets for Tyco International. Prior to joining Tyco, he worked at Lucent Technologies as regional treasurer for Latin America, and he held several positions of increasing responsibility in treasury, credit and banking earlier in his career.

He holds a bachelor’s degree from La Salle University and a master’s degree in finance from Temple University. Both universities are located in Philadelphia, Pa.

Covidien’s three core product segments are medical devices, pharmaceuticals and medical supplies. The company has been very acquisitive lately, expanding globally. Its U.S. headquarters is in Mansfield, Mass.

Navilyst Executive Becomes AngioDynamics CTO
Following the announcement of its acquisition of Navilyst Medical Inc., Albany, N.Y.-based AngioDynamics Inc. has appointed George W. Bourne as senior vice president and chief technology officer. The acquisition is valued at $353.7 million.

Bourne served as senior vice president of research and development (R&D) and clinical affairs for Navilyst Medical, a medical device manufacturer focused in the vascular access sector, from its formation in early 2008 until November 2011. His tenure was defined by focused portfolio development and the commercialization of new products. Most recently, he served as vice president of R&D at Hologic Inc. Previously, he spent 10 years at Boston Scientific Corp. as vice president of R&D of the urology, medtech and oncology business units and then as group vice president of R&D for the endosurgery business group. He also served in leadership positions at Baxter Healthcare, Allegiance Healthcare and C.R. Bard Inc. Bourne earned his B.S. in biological science and a master’s of
science in plastics engineering from the University of Lowell in Lowell, Mass., He also received an M.B.A. from Rivier College in Nashua, N.H.

“George is a world-class engineer whose commitment to operational excellence has led him to establish and manage high-performance medical device R&D organizations,” said Joseph M. DeVivo, CEO of AngioDynamics. “His extensive knowledge of Navilyst Medical’s technology, pipeline and organization, combined with 25 years of experience in developing products in global medical device companies, make George the ideal fit for this important executive role.”

Bourne said in a prepared statement: “The combination of AngioDynamics and Navilyst will create a more comprehensive and competitive portfolio of products differentiated by advanced technologies. I look forward to working with Joseph DeVivo and his team to expand our product offering and drive growth.”

AngioDynamics’ acquisition of Navilyst Medical is expected to expand the company’s reach, doubling its share of the vascular access market, while “building critical mass” in the peripheral vascular market, according to company executives. Under the terms of the agreement, AngioDynamics will acquire Navilyst Medical from Avista Capital Partners, a private equity firm, for $373.7 million in cash and stock.
Founded in 1988, AngioDynamics provides minimally invasive medical devices for vascular access, surgery, peripheral vascular disease and oncology.

Oakworks Appoints New Director of Business Development
Medical equipment manufacturer Oakworks Inc. has named Joseph P. D’Antonio as its new director of business development. D’Antonio will manage Oakworks’ business development opportunities in domestic and international markets and be responsible for enlarging the global distribution network for Oakworks products.

D’Antonio

“Oakworks has always been a product and customer service focused company. Joe’s experience and capabilities will help us to grow our business much more quickly,” said CEO Jeff Riach, who was responsible for D’Antonio’s hire.

D’Antonio was previously director of business development and sales at Lectrajet/Bioject, a company that produces injection technologies. There, he managed the company’s global distribution network, U.S. Food and Drug Administration regulatory issues, sales and the development of key strategic business and original equipment manufacturer partnerships.

Prior to LectraJet/Bioject, D’Antonio served as brand manager for a sector of General Motors Corporation, portfolio manager at GM Motors Holding, and director of sales at Huntleigh Medical and American Cyanamid. He received his Bachelor of Science from West Chester University in West Chester, Pa., and his executive master’s degree in business administration from the New York Institute of Technology, which has campuses in Manhattan, Iselip and Old Wesbury.

Oakworks is located in New Freedom, Pa. The 35-year-old company’s medical division produces ergonomic medical tables (beds) and chairs for pain management, examination, medical procedures and ultrasound applications. The company also manufactures a spine positioning system for spine injection procedures.

SRS Medical Names New CEO
Lee Brody, a 15-year veteran of Billerica, Mass.-based SRS Medical Corp., has been appointed the company’s new CEO. Most recently chief operating officer, Brody will take charge of corporate strategy and work closely with senior management on expanding partnerships and driving new product acquisition.

Brody received his bachelor’s and master’s degrees in biomedical engineering from Boston University, and his master’s degree in business administration from Northeastern University in Boston, Mass.
His plans for the company include focusing more energy on its new product, the CT3000 non-invasive pressure-flow system. The urology device measures bladder pressure in male patients to provide a definitive diagnosis for either bladder outlet obstruction related to an enlarged prostate, or low bladder contractility. The CT3000 UroCuff will be the first non-invasive test for male urinary flow pressure, according to the company.

“We are pleased with the clinical success of the CT3000 and believe its widespread use results in better diagnosis and outcomes,” Brody said. “The CT3000 complements our company’s long history of excellence and innovation in urology, across urodynamics, ultrasound and related product lines.”

The company also announced that SRS Medical and its worldwide development partner, MediPlus Ltd., have expanded their partnership on the CT3000 and other clinical products. In addition, SRS Medical and its investment partners, Schooner Capital LLC and 20/20 HealthCare Partners LLC, have completed an additional financing round.

BD Elects Company Veteran as Its Incoming Chairman
Vincent A. Forlenza, CEO of Becton Dickinson and Company (BD), has been appointed board chairman. Forlenza has been with the Franklin Lakes, N.J-based medical technology company since 1980, and has served as CEO since October 2011. He succeeds Edward J. Ludwig as chairman, who is retiring from BD. Forlenza will assume his additional duties on July 1.

Prior to CEO, Forlenza was chief operating officer since July 2010. He also has served as president, executive vice president, president of BD Biosciences, and senior vice president of technology, strategy and development. During his tenure at BD, he has served in positions of increasing responsibility both in the United States and in Europe. He also has served as chairman and director of
AdvaMedDx, a division of the Advanced Medical Technology Association that focuses on diagnostics, since October 2010. He chairs the Valley Hospital Board of Trustees at Valley Health Systems in Ridgewood, N.J., and is a member of the advisory board for the P.C. Rossin College of Engineering and Applied Sciences at Lehigh University in Bethlehem, Pa.

Forlenza holds a bachelor’s degree in chemical engineering from Lehigh University and an M.B.A. from the Wharton School of the University of Pennsylvania.

“Vince has demonstrated strong leadership and strategic vision during his time as CEO, and he has a deep understanding of BD, the medical technology industry and the global healthcare environment. We are confident that he is the right person to chair our board,” said Henry P. Becton Jr., BD’s lead director.