Michael Barbella, Managing Editor12.01.22
There's a new (temporary) leader in charge at WishBone Medical Inc.
The company has appointed Mark Figgie, M.D., as interim CEO, replacing Nick Deeter, who along with President Mary Wetzel will become a consultant to help with business development, healthcare partnerships, and identification of new technology ventures.
“I am honored to take the helm of WishBone Medical and help make a meaningful impact through leadership and innovation—building upon my extensive network within the orthopedic community to produce novel solutions that promote OR efficiency and improve outcomes for our young patients,” Figgie said.
Figgie is Chief Emeritus of the Surgical Arthritis Service at the Hospital for Special Surgery in New York, N.Y. He is one of the leading experts in joint replacement for inflammatory arthritis and was the inaugural chair of the Allan Inglis Chair for research for surgery in inflammatory arthritis. His training in engineering and biomechanics has helped him become instrumental in the design of implants for elbows, knees, and hips, including the design of custom implants.
“WishBone constituents may know Dr. Figgie for his advocacy as a foundational board member, investor, and his 40 years of exemplary experience in orthopedics,” said WishBone Board Member Manny Losada, who is CEO and president of Optimal/MedPro Healthcare Solutions. “However, he also has an incredible business acumen grounded in an MBA at NYU and managed a boutique manufacturing firm in Cleveland, Ohio, while attending medical school. Dr. Figgie will work alongside the seasoned executive management team and surgeons to create leading-edge solutions that kids deserve.”
In addition to Figgie's appointment as interim CEO, WishBone Medical also announced the procurement of additional growth capital. The latest funding comes from LKCM Headwater Investments, a private equity arm of Luther King Capital Management (an SEC-registered investment adviser with approximately $22.1 billion in assets under management). These strategic changes will fuel the commercialization of WishBone’s existing portfolio while supporting new product development and sustaining its mission to raise surgical standards for children.
“At a time of uncertainty in our capital markets, our team at LKCM Headwater and WishBone’s Board of Directors have worked diligently to secure the means necessary to support the company’s objectives and continue this rewarding mission,” said Michael D. Bornitz of LKCM Headwater and a WishBone board member.
LKCM Headwater Investments is a Texas-based private investment firm affiliated with Luther King Capital Management, an SEC-registered investment firm established in 1979 with more than $22 billion USD of AUM. LKCM Headwater’s investment discipline is centered around a long-term focus of investing in strategically well-positioned companies with opportunities to re-invest cash flows into multiple high return investment opportunities. Further, LKCM and its affiliates have a long history of successfully investing in and growing medical device companies.
WishBone Medical is a global pediatric orthopedic company providing highly differentiated pediatric implants, instruments and solutions in single-use, sterile packed procedure kits designed to prevent infection, reduce overall costs for customers, and achieve the best outcomes for children.
The company has appointed Mark Figgie, M.D., as interim CEO, replacing Nick Deeter, who along with President Mary Wetzel will become a consultant to help with business development, healthcare partnerships, and identification of new technology ventures.
“I am honored to take the helm of WishBone Medical and help make a meaningful impact through leadership and innovation—building upon my extensive network within the orthopedic community to produce novel solutions that promote OR efficiency and improve outcomes for our young patients,” Figgie said.
Figgie is Chief Emeritus of the Surgical Arthritis Service at the Hospital for Special Surgery in New York, N.Y. He is one of the leading experts in joint replacement for inflammatory arthritis and was the inaugural chair of the Allan Inglis Chair for research for surgery in inflammatory arthritis. His training in engineering and biomechanics has helped him become instrumental in the design of implants for elbows, knees, and hips, including the design of custom implants.
“WishBone constituents may know Dr. Figgie for his advocacy as a foundational board member, investor, and his 40 years of exemplary experience in orthopedics,” said WishBone Board Member Manny Losada, who is CEO and president of Optimal/MedPro Healthcare Solutions. “However, he also has an incredible business acumen grounded in an MBA at NYU and managed a boutique manufacturing firm in Cleveland, Ohio, while attending medical school. Dr. Figgie will work alongside the seasoned executive management team and surgeons to create leading-edge solutions that kids deserve.”
In addition to Figgie's appointment as interim CEO, WishBone Medical also announced the procurement of additional growth capital. The latest funding comes from LKCM Headwater Investments, a private equity arm of Luther King Capital Management (an SEC-registered investment adviser with approximately $22.1 billion in assets under management). These strategic changes will fuel the commercialization of WishBone’s existing portfolio while supporting new product development and sustaining its mission to raise surgical standards for children.
“At a time of uncertainty in our capital markets, our team at LKCM Headwater and WishBone’s Board of Directors have worked diligently to secure the means necessary to support the company’s objectives and continue this rewarding mission,” said Michael D. Bornitz of LKCM Headwater and a WishBone board member.
LKCM Headwater Investments is a Texas-based private investment firm affiliated with Luther King Capital Management, an SEC-registered investment firm established in 1979 with more than $22 billion USD of AUM. LKCM Headwater’s investment discipline is centered around a long-term focus of investing in strategically well-positioned companies with opportunities to re-invest cash flows into multiple high return investment opportunities. Further, LKCM and its affiliates have a long history of successfully investing in and growing medical device companies.
WishBone Medical is a global pediatric orthopedic company providing highly differentiated pediatric implants, instruments and solutions in single-use, sterile packed procedure kits designed to prevent infection, reduce overall costs for customers, and achieve the best outcomes for children.
