BOSTON, Aug 19, 2009 (BUSINESS WIRE) -- Orthofix International N.V. (NASDAQ: OFIX) announced today that Michael
R. Mainelli has joined the Company's Board of Directors.
Mr. Mainelli is an accomplished public company executive with 16 years
of experience in the medical device industry. He spent eight years with
Stryker Corporation, including as the President of Stryker Japan and the
President of Stryker Spine. In his position as President of Stryker
Spine Mr. Mainelli was responsible for creating a new global spine
division, including the development of the business's long term
strategy. During his five year tenure the spine division captured market
share while increasing annual sales at a compound annual rate of 50% and
improving operating results from a loss position to global profitability.
During Mr. Mainelli's tenure as President of Stryker Japan he led a
joint venture acquisition that created the largest orthopedic company in
Japan, while increasing sales at a compound annual rate of 30% and
doubling operating profits.
Mr. Mainelli also held positions with increasing responsibility during
12 years with the General Electric Company (GE). The majority of his
tenure with GE was spent in health care related divisions, including
seven years with GE Medical Systems, and four years with GE's Global
Magnetic Resonance Imaging business.
"Michael's broad experience in the medical device industry, including
his extensive background in the spine segment, will provide tremendous
value to the Board. He brings additional industry depth and relevant
operating experience to our Board, with a track record of developing
long term business strategies that have substantially increased sales
and income," said James F. Gero, the Chairman of the Board of Orthofix
International.
Mr. Mainelli currently serves as the President and CEO of Active
Implants Corporation, and is also a member of the Board of Directors.
About Orthofix International, N.V.
Orthofix International, N.V. is a global medical device company offering
a broad line of minimally invasive surgical, and non-surgical, products
for the spine, orthopedic, and sports medicine market sectors that
address the lifelong bone-and-joint health needs of patients of all
ages-helping them achieve a more active and mobile lifestyle. Orthofix's
products are widely distributed around the world to orthopedic surgeons
and patients via Orthofix's sales representatives and its subsidiaries,
including BREG, Inc. and Blackstone Medical, Inc., and via partnerships
with other leading orthopedic product companies. In addition, Orthofix
is collaborating in R&D partnerships with leading medical institutions
such as the Musculoskeletal Transplant Foundation, the Orthopedic
Research and Education Foundation, Rutgers University and the National
Osteoporosis Institute. For more information about Orthofix, please
visit www.orthofix.com.
SOURCE: Orthofix International N.V.
Orthofix International N.V.
Dan Yarbrough, 617-912-2903
Vice President of Investor Relations
danyarbrough@orthofix.com
Copyright Business Wire 2009