Healthcare Industry News: St. Francis Medical Technologies
News Release - April 3, 2008
Henry Klyce and Michael R. Mainelli, Jr. Join the Board of Active Implants CorporationMEMPHIS, Tenn.--(HSMN NewsFeed)--Active Implants Corporation (AIC), a pioneer of advanced polymer orthopaedic implant solutions, today announced the expansion of the AIC Board of Directors and the election of two new members, Henry Klyce, founder and CEO of St. Francis Medical Technologies and Michael R. Mainelli, Jr., formerly President of Stryker Spine and Stryker Japan.
The addition of these two accomplished orthopaedic medical device professionals to the AIC board comes as the company begins the process of commercializing its advanced polymer TriboFit™ Hip System in Europe and prepares to raise more capital for growth and expansion.
“The addition of these recognized industry experts strengthens our team and gives us further advantages as we commercialize our products in a competitive global market,” said AIC Board Chairman Jack Blair.
Henry Klyce is a native of Memphis, Tenn., with a long and distinguished career in the medical device industry. Klyce is known most recently as the founder, president/CEO and Chairman of St. Francis Medical Technologies, a privately held company that developed and marketed the X STOP Interspinous Process Decompression System. In January 2007, Kyphon Inc. (NASDAQ: KYPH ) acquired St. Francis for $725 million (Kyphon was later acquired by Medtronic Inc, NYSE: MDT). Currently, Klyce is the founder, president/CEO of Spartek Medical, Inc. a developer of spinal implants. Prior to St. Francis, he started and built several successful medical device companies in ophthalmics, neurosurgery and orthopaedics. Klyce has Bachelor of Arts degree from Cornell University and is an inventor with over 30 issued patents to his credit.
Michael R. Mainelli, Jr. is a proven global medical device executive with an outstanding track record for delivering strong operational results in a variety of today’s challenging situations in the medical device field, including orthopaedics. Mainelli’s career spans several progressive senior leadership roles that include serving as President, Stryker Japan and President, Stryker Spine for the Stryker Corporation (NYSE: SYK ) and as the Sector President, Medical Devices for Intermagnetics General Corporation. His successful operational and international contributions as a leader created new medical device divisions, expanded technology commercialization efforts and resulted in key mergers and acquisitions. Mainelli serves on the Board of Directors for Autocam Corporation. He holds an MBA from the University of Chicago, an MSE from the University of Pennsylvania and a BMSE from Northeastern University.
“As a former president of a leading orthopaedic company, Michael has experience and contemporary views of the rapidly evolving global orthopaedic space that can help position AIC successfully for long term growth,” said AIC’s President and Chief Executive Officer Stephen Bradshaw. “Henry Klyce provides a wealth of knowledge in the areas of start-up companies, early capitalization and the creation of new technology. Having the opportunity to learn from Michael and Henry at this important time will be beneficial to the future of AIC.”
Henry Klyce and Michael Mainelli join an AIC Board of experienced and accomplished professionals that include founder and inventor Amiram Steinberg, founding President and Chief Executive Officer Stephen Bradshaw, Chief Medical Officer Michael Lewis, M.D., Director James D. Lackie, Director Hadar Steinberg, PhD. and Chairman of the Board Jack Blair.
About Active Implants Corporation
Active Implants Corporation is a privately-held company (Delaware Corporation) formed in 2004 by an experienced team of orthopaedic executives and an inventor with vast experience in pliable structured materials. AIC is commercializing its first product and owns intellectual property containing innovative implant solutions and minimally invasive surgery technology with applications in the joints and spine. The company is headquartered in Memphis, Tennessee, with research facilities in Netanya, Israel. For more information visit the AIC website: www.activeimplants.com.
Source: Active Implants
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