MPO - November-December 2015

PEOPLE NEWS

Tecomet Welcomes New President and COO

Tecomet Inc. has invited a new mem- ber to its executive management eam, hiring Mark Kemp as president and chief operating officer.

Kemp reports to CEO Bill Dow, and is responsible for the operations and commercial areas of Tecomet’s global business. Finance and quality personnel will continue to report to Dow.

Kemp’s appointment follows Tecomet’s acquisitions last year of Symmetry Medical’s OEM Solutions business and 3D Medical, creating the world’s largest orthopedic contract manufacturer, with facilities located in five countries on three continents.

“We are very pleased to have Mark join our team and are excited about the cus-tomer-focused global supply side experience that he will provide as we continue integrating our sites and implementing our operational strategy,” Dow in a news release announcing Kemp’s appointment.

Kemp brings to his position experience in end-to-end supply chain solutions, having had an extensive career with Flextronics International Ltd. His most recent position was president of Flextronics Medical. Kemp has more than 20 years of experience in the engineered manufacturing solutions industry and holds a bachelor of science degree in Mechanical Engineering from the University of Florida as well as a masters of Business Administration in Aviation from Embry-Riddle Aeronautical University in Daytona Beach, Fla. He has served in various executive capaci-ties including operations, business development, account management, materials and program management, and market-ing/communications.

“Tecomet has a very talented team,”
Kemp said. “I am very excited about join-
ing the Tecomet team and the opportunity
to help expand the breadth of services that
we provide to our customers globally.”
“We are excited about the addition of
an executive with Mark’s stature and expe-
rience to the Tecomet senior management
team to help guide future expansion,”
added Rob Rutledge, managing director of
Genstar Capital, which invested in Tecom-
et in December 2013.
Founded in 1964 and based in Wilm-
ington, Mass., Tecomet manufactures
orthopedic implants, precision surgical
instruments, trauma plates and photo-
chemical etched products.

Genstar Capital is a San Francisco, Calif.-based private equity investment firm that funds businesses in the healthcare, software, industrial technology and financial services industries. Its capital commitments total more than $5 billion.

Baxter Board Adds Boston
Scientific CEO to its Ranks

Deerfield, Ill.-based Baxter International Inc. has invited Boston Scientific Corp. CEO Mike Mahoney to its board, adding a director who turned around one of the nation’s biggest medical device companies.

Mahoney joins Baxter’s board during
a time of transition for the company. Bax-
ter CEO Robert Parkinson announced his
plans to step down earlier this year after
spending more than a decade there. Ma-
honey’s nomination was encouraged by
Third Point LLC, Baxter’s biggest share-
holder, which played a role in recruiting
him, according to a person familiar with
the deliberations
who declined to be
identified discuss-
ing non-public in-
formation. Third
Point wants Baxter
to replicate Ma-
honey’s track record
at Marlborough,
Mass.-based Boston
Scientific, where he
returned the company to growth after a
four-year losing streak, boosted operating
margins and shifted into faster-growing
product areas. The device behemoth’s Q3
operational revenue swelled 9 percent to
$1.88 billion, and adjusted earnings per
share surged 20 percent to 24 cents.

Mahoney joins Third Point partner Munib Islam on Baxter’s board and fulfills the company’s Sept. 30 agreement to appoint a second independent director to the group.

“It adds some credibility to the board in terms of expertise in medtech for the CEO succession planning,” said Jonathan Palmer, an analyst at Bloomberg Intelligence in New York. The companies have very little product overlap since Baxter focuses on hospital products and Boston Scientific on cardiovascular and other im-plantable devices, he said.

Baxter primarily focuses on products to treat hemophilia, kidney disease, immune disorders and other chronic and acute medical conditions.

EndoGastric Solutions Names
Three New Executives

EndoGastric Solutions (EGS) is beefing up its management team.

The company has added three new members to its executive ranks: Mike Zagger, vice president of Sales and Marketing; Philip Macdonald, vice president of Healthcare Economics, Policy & Reimbursement; and Adrian Lobontiu, M.D., F.A.C.S., as medical director.