Healthcare Industry News: EXOGEN
News Release - May 31, 2007
AxioMed Spine Corporation Adds Larry Papasan To Board of Directors
GARFIELD HEIGHTS, Ohio--(HSMN NewsFeed)--AxioMed® Spine Corporation (ASC) announced today that Larry W. Papasan has joined the company's Board of Directors. Mr. Papasan is the former President of Smith & Nephew Orthopedics, a division of Smith & Nephew, plc (LSE: SN, NYSE: SNN) and is currently Chairman of the Board of BioMimetic Therapeutics Inc. (NASDAQ:BMTI ) as well as holding other board positions in commercial and community service organizations. During his tenure as President of the Smith & Nephew Orthopedics division sales grew from $300 million to $650 million while achieving profitability at over 15% per year.Peter Kleinhenz, Managing Director of CID Capital and Chairman of the Board of AxioMed stated, "We were delighted that Larry agreed to join the ASC Board. His extensive experience in orthopedics worldwide and demonstrated board skills will be a significant asset to the company."
Patrick McBrayer, AxioMed's President & CEO stated, "I have had the good fortune to work for Larry following Smith & Nephew's acquisition of my former company, EXOGEN, Inc. He has a stellar reputation as a leader who has successfully built medical companies and introduced new technologies. AxioMed will significantly benefit from his breadth of business and orthopedic experience."
Mr. Papasan stated, "I am very impressed with AxioMed and its team which has extensive spine experience. The company's next generation total disc replacement for the spine is already in pilot clinical trials and has excellent prospects. I look forward to assisting them in building a significant company in spine care."
About AxioMed
AxioMed's mission is to develop products that restore the natural function to patients with degenerative spine disease, thus advancing the standard of care beyond fusion and first generation discs. The Freedom® disc was developed and designed by a team of clinicians and experts in the fields of biomechanics, pathology, spinal surgery and polymer science. Freedom® is currently in pilot clinical trials in Europe.
Source: AxioMed Spine
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