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TheStreet Open House

Medical Action Announces Appointment Of John Sheffield As Chief Financial Officer

Stock quotes in this article: MDCI

Medical Action Industries Inc. (NASDAQ/MDCI), a leading supplier of medical and disposable surgical products today announced the appointment of John Sheffield as Chief Financial Officer and Corporate Secretary effective March 19, 2012. In his role, Mr. Sheffield will join the executive team responsible for strategy, planning and operations, and will oversee the company’s finance, accounting and investor relation functions.

Mr. Sheffield brings 20 years of financial, accounting and strategic transaction experience to Medical Action. He joins us from Bank of America Merrill Lynch where he was a senior investment banker providing strategic and financial advice primarily to middle market companies. In addition to Bank of America Merrill Lynch, Mr. Sheffield has worked with other premier investment banks providing advice on mergers and acquisitions as well as debt and equity financings. He has represented companies across several industries, with a particular focus on healthcare. Previously, Mr. Sheffield was Vice President of Corporate Development for ReAble Therapeutics (now known as DJO Inc.), a portfolio company of The Blackstone Group and global manufacturer of orthopedic medical devices and services. He began his career as a Certified Public Accountant (CPA) with a predecessor of PricewaterhouseCoopers.

“We are extremely excited to have John join our organization. Given John’s vast financial and strategic transaction experience, I am confident that his leadership will contribute significantly in the creation of an innovative platform to leverage our business and to take Medical Action to the next level as a dominant player in our industry," stated Paul D. Meringolo, President and CEO of Medical Action Industries Inc.

“Medical Action is a leader in its field and has assembled an excellent senior management team to lead its continued growth,” said Sheffield. “I am honored to join Medical Action and its deep bench of talent on the finance team.” Reporting to the CFO will be Brian Baker, Corporate Controller also responsible for SEC reporting; Vincent Colletti, Director of Internal Audit; and Victor Bacchioni, Operations Controller.

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