Orthofix Realigns Business Units and Appoints New Leaders
With an eye to streamlining and increased efficiency, Orthofix International N.V. is realigning its business units to drive future growth.
The Lewisville, Texas-based company now will operate BioStim, Spine Fixation, and Biologics, which will handle stimulation, spine implant, and biologic products, respectively. International Extremity Fixation and U.S. Extremity Fixation will deal with orthopedic fixation systems. Orthofix split its Global Spine business unit to create the new Spine Fixation and BioStim divisions.
"These organization changes are part of our overall strategic initiative to provide more operational focus on our businesses while driving enhanced shareholder value," said Orthofix President/CEO Brad
. "We are committed to developing solutions for our physician customers and the patients they serve. By managing all bone growth stimulation products under the BioStim business, spinal implant products under the Spine Fixation business, and biologics products under the Biologics business, we believe we can maximize the growth potential of these businesses. In addition, the creation of the International Extremity Fixation and the U.S. Extremity Fixation businesses will allow us to better focus on our key customers and key product opportunities."
Personnel changes to accompany the streamlining include the promotion of Brad Niemann from senior vice president of commercial operations to the president of BioStim.Niemann joined Orthofix in March 2012 and has led the company's reimbursement and commercial operations. With more than 15 years of experience in the medical device industry, he has a particularly strong focus and track record in expanding the utilization of bone growth stimulation technology. From 2004 to 2012, Niemann worked in various management and leadership roles at DJO Global Inc., including senior vice president, Recovery Sciences, leading commercial efforts for the business segment.
Michael Finegan is the company's new chief strategy officer and Jeff Schumm is now chief administrative officers. In these new roles, Finegan will oversee all strategic activities while Schumm will supervise all regulatory and legal affairs as well as legal matters.Finegan joined Orthofix as vice president of corporate development in 2006. In 2009, he assumed additional responsibilities as the president of Biologics. Finegan came to Orthofix from Boston Scientific Corporation, where he held several management positions of increasing responsibility, including vice president of Corporate Sales. Finegan began his career in banking with First Union (Wachovia). He graduated from Wake Forest University with a B.A. in Economics.
Schumm joined Orthofix as assistant general counsel in January 2007, and was promoted to senior vice president, general counsel and corporate secretary in October 2010. From 2004 to 2006, Schumm served as vice president and general counsel for Regeneration Technologies Inc. Earlier in his career, he served as an assistant Attorney General for the state of Florida, as an associate at Holland & Knight LLP and as a staff attorney at the State Supreme Court of Florida. Schumm received his B.S. in Electrical Engineering and master's in Business Administration from Lehigh University; he is a magna cum laude graduate of the Florida State University College of Law.
Mark Atkinson is a new addition to the Orthofix team and has been hired as the firm’s chief people officer.Atkinson brings to Orthofix a wealth of organizational development and talent management experience. Most recently, he served as the director, Talent Management and Organizational Development for Lennox International. Prior to that, he was a director, Talent Management, Organization Design and Human Resource Transformation Practices for PricewaterhouseCoopers LLP as well as the national director, human resources for Jenkens & Gilchrist, P.C.
Mason will assume additional senior management duties for the Spine Fixation operation until a replacement can be found for outgoing Brian McCollum, former president of Global Spine.