Lewisville-based Orthofix Medical Inc. and California-based SeaSpine Holdings Corp. have completed a previously announced merger of equals.
“The completion of this merger catalyzes our ambition to be an industry leader in spine and orthopedics,” Keith Valentine, president and CEO of Orthofix, said in a statement. “I’m privileged to lead this talented team and excited for all of the opportunities that lie ahead. Together we are stronger and better positioned to deliver innovative, quality-driven solutions for surgeons in their work to improve patients’ lives.”
Under the terms of the merger, a wholly-owned subsidiary of Orthofix will merge with and into SeaSpine, with SeaSpine continuing as the surviving company and a wholly-owned subsidiary of Orthofix.
The combined company will be renamed at a later date and until then will continue to be known as Orthofix Medical Inc.
‘Setting new standards of innovation’
The combined Orthofix is a leading global spine and orthopedics company with a complementary portfolio of biologics, innovative spinal hardware solutions, market-leading bone growth therapies, specialized orthopedic solutions, and a leading surgical navigation system.
The company has approximately 1,600 employees, products distributed in 68 countries globally, and a global R&D, commercial, and manufacturing footprint.
“With broad, differentiated technologies, extensive commercial reach, and a strong financial profile, we expect our combined company to drive meaningful market share gains, sustainable growth and value creation. We look forward to setting new standards of innovation and delivering on the many benefits we expect to provide for our shareholders, surgeons and employees.” Jon Serbousek, executive chairman of the combined company’s board of directors, said in a statement,
Board of Directors and Executive Leadership Team
Orthofix’s nine-member Board of Directors includes:
Jon Serbousek, Executive Chairman (most recently President and CEO, Orthofix)
Keith Valentine, Director, President and CEO (most recently President and Chief Executive Officer, SeaSpine)
Catherine Burzik, Lead Independent Director (former President, and CEO, Kinetic Concepts, Inc.)
Stuart Essig, Ph.D., Independent Director (Managing Director, Prettybrook Partners LLC)
Jason Hannon, Independent Director (President, and CEO, Mainstay Medical International plc)
John Henneman, III, Independent Director (former Chief Financial Officer, Integra Lifesciences Holdings)
James Hinrichs, Independent Director (Co-Founder, Atmas Health)
Shweta Singh Maniar, Independent Director (Global Leader, Healthcare & Life Science Solutions and Strategy, Google Cloud)
Michael Paolucci, Independent Director (Executive Vice President, Chief People Officer, Mirati Therapeutics)
Previously announced members of the combined company’s executive leadership team include:
Suzanne Armstrong, Chief Human Resources Officer
John Bostjancic, Chief Financial Officer
Roberto Donadello, Senior Vice President, Global Operations
Kim Elting, President, Global Orthopedics
Ehab Esmail, Senior Vice President, Global Quality, Regulatory and Clinical Affairs
Kevin Kenny, President, Global Spine
Patrick Keran, Chief Legal Officer
Tyler Lipschultz, President, Global Biologics
Beau Standish, President, Global Enabling Technologies
Headquartered in Lewisville, Orthofix has primary offices in Carlsbad, California, with a focus on spinal product innovation and surgeon education, and Verona, Italy, with an emphasis on product innovation, production, and medical education for Orthopedics.
The combined company’s global R&D, commercial, and manufacturing footprint also includes facilities and offices in Irvine, California; Toronto, Canada; Sunnyvale, California; Wayne, Pennsylvania; Olive Branch, Mississippi; Maidenhead, United Kingdom; Munich, Germany; Paris, France; and Sao Paulo, Brazil.
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