Healthcare Industry News: Healthpoint
News Release - October 29, 2008
ConvaTec Names Presidents of Wound Therapeutics and Ostomy Care Business UnitsSKILLMAN, N.J., Oct. 29 -- (Healthcare Sales & Marketing Network) -- ConvaTec, a world-leading developer and marketer of innovative medical technologies for community and hospital care, today announced that Michael E. Steadman will join ConvaTec as President of the company's Wound Therapeutics Business Unit and Nino Pionati has been appointed as President of the company's Ostomy Care Business Unit.
Previously, the company had announced the formation of four new operating divisions -- Ostomy Care, Wound Therapeutics, Continence and Critical Care and Infusion Devices -- following the acquisition of Copenhagen-based Unomedical in September.
In their new roles, Steadman and Pionati will have global responsibility for their respective major business units, which together account for more than 70 percent of the combined company's $1.7 billion (US) annual sales. In addition, they will focus on developing and driving global business strategy and operational excellence to help the company achieve its stated goal of outperforming the market in its focused businesses.
"As ConvaTec moves forward as a stand-alone company under the ownership of Nordic Capital and Avista Capital Partners, we are poised to accelerate growth both above and below the line," said David Johnson, CEO, ConvaTec. "Our new operational structure, driving strategy from a global level while concentrating our delivery and service strengths within markets, will help us achieve our ultimate goal of leadership in each of our four business areas."
Steadman joins ConvaTec from DFB Pharmaceuticals, Inc. where he was Group President and Chief Operating Officer of DFB Branded Pharmaceuticals. Previously, he served as President of Healthpoint, Ltd., a DFB Unit, creating one of the fastest growing pharmaceutical and biologic wound care companies in the world. As President, Wound Therapeutics, Steadman will become part of the ConvaTec Executive Committee.
Pionati has been with ConvaTec since 1998, and most recently served as Senior Vice President, Global Marketing & Business Development. In his new role, he will continue to sit on the ConvaTec Executive Committee. His previous experience includes 15 years with Johnson & Johnson holding various positions of increasing responsibility in medical devices globally.
"We are pleased to welcome Michael to ConvaTec, recognizing his extensive leadership experience in advanced Wound Therapeutics, one of our strongest platforms for future growth," continues Johnson. "Together with Nino's great depth of knowledge and insight into the Ostomy Care market, we are confident that our foundational businesses are now enabled to capitalize on the business opportunities ahead."
ConvaTec is a leading developer and marketer of innovative medical technologies that have helped improve the lives of millions of people worldwide. With four key business divisions -- Ostomy Care, Wound Therapeutics, Continence and Critical Care and Infusion Devices -- ConvaTec products support health care professionals from the hospital to the community health setting. From its headquarters in Skillman, New Jersey, the company oversees more than 8,000 employees in over 90 countries serving consumers and their health care professionals on six continents. For more information, please visit www.convatec.com.
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