View all news

Orthofix Appoints Vicente Trelles as Senior Vice President, World Wide Operations and Shared Services

April 01, 2011

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

News Provided by Acquire Media

Multimedia Files:

View all news