LEWISVILLE, Texas--(BUSINESS WIRE)--
Orthofix International N.V. (NASDAQ:OFIX) (the Company) announced today
that Vicente Trelles has been appointed as Senior Vice President, World
Wide Operations and Shared Services. Mr. Trelles will report directly to
Robert S. Vaters, the Company's Chief Operating Officer.
Mr. Trelles joins Orthofix with over 25 years of experience in the
medical device and pharmaceutical industries. Since 2006, Mr. Trelles
served as Partner of a healthcare private equity firm which he also
co-founded. From 2001 to 2006, he was an Executive Vice President and
Chief Operations Officer at Inamed Corporation. Inamed Corporation, a
global medical device company was acquired by Allergan Inc. in March
2006. Prior to Inamed, Mr. Trelles held several executive positions with
Allergan, Baxter Healthcare and American Hospital Supply in Europe and
the United States.
Mr. Vaters, stated, "Having worked with Vicente in the past, I am
confident his experience in providing operational leadership for global
companies and his knowledge of the medical device industry will be key
as we continue executing our operational efficiency and margin expansion
objectives."
About Orthofix
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, orthopedics, 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 via collaborations with other leading
orthopedic product companies. In addition, Orthofix is collaborating on
R&D activities with leading medical institutions such as the
Musculoskeletal Transplant Foundation, the Orthopedic Research and
Education Foundation, The University of Medicine and Dentistry of New
Jersey and the National Osteoporosis Institute. For more information
about Orthofix, please visit http://www.orthofix.com/.
Inducement Grant
As an inducement to Mr. Trelles to enter into employment with the
Company, Mr. Trelles has been granted an initial award of stock options
to purchase 150,000 shares of the Company's common stock at an exercise
price of $33.01 per share. These options will vest in one-third annual
increments beginning on the first anniversary of his date of employment.
The grant, which was approved by the Company's compensation committee,
was made under a standalone inducement stock option agreement, but on
terms substantially the same as grants made under the Company's Amended
and Restated 2004 Long Term Incentive Plan and related stock option
agreement, pursuant to NASDAQ Marketplace Rule 5635(c)(4). This
agreement includes provisions for full accelerated vesting of the
options upon a change of control, or partial accelerated vesting in the
event of termination without cause as defined in the agreement.
Orthofix International N.V.
Brian McCollum, 214-937-2927
Chief
Financial Officer
brianmccollum@orthofix.com
Source: Orthofix International NV
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