Nevro taps ex-Thoratec CEO Grossman | Personnel Moves, March 20, 2019

Nevro Corp. (NYSE:NVRO) said yesterday that it named former Thoratec CEO Keith Grossman to replace president & CEO Rami Elghandour after striking a deal with one of its investors, Broadfin Capital. Grossman re-joined Thoratec after taking over at Conceptus in December 2011 and leading it to a $1.1 billion sale to Bayer in June 2013 (he’d been Thoratec’s CEO from 1996-2006). Grossman helmed Thoratec until St. Jude Medical (now Abbott) acquired it in October 2015 for $3.3 billion. Nevro said the deal with Broadfin also involves the expansion of its board of directors with the addition of Warburg Pincus limited partner Bess Weatherman and medtech veteran Kevin O’Boyle and the departure of director Ali Behbahani. Broadfin picked up a 5.8% stake in Nevro in September 2015 but cut that to less than 0.2% in February 2017, according to regulatory filings. “On behalf of the board and our entire company, I am excited to welcome Keith Grossman to the Nevro team,” chairman Michael DeMane said in prepared remarks. “Keith brings over 30 years of experience in leading innovative medical technology companies through periods of strategic change to deliver growth and enhanced value for stockholders. As we look to the future, I am confident that under Keith’s direction, Nevro will be well positioned to capture a burgeoning market opportunity with its pioneering spinal cord stimulation (SCS) technology to treat chronic pain.” “I am excited b...
Source: Mass Device - Category: Medical Devices Authors: Tags: Business/Financial News AdvaMed California Life Sciences Assn CardioMech Check-Cap electroCore LivaNova Nevro Corp. Personnel Moves renovia Synaptive Medical Tactile Systems Technology Source Type: news