Orthofix International N.V., (NASDAQ:OFIX) (the Company) announced today the reappointment of Maria Sainz to its Board of Directors. Ms. Sainz, formerly the Chief Executive Officer of Concentric Medical, Inc. (“Concentric”), resigned from the Company’s Board in September 2011 as the result of a potential conflict of interest arising from an announced acquisition of Concentric. Ms. Sainz had been a member of the Company’s Board of Directors since 2008. Ms. Sainz is currently serving as the President, Chief Executive Officer, and Director of CardioKinetix Inc., a medical device company located in Menlo Park, California.
“We are delighted to have Maria rejoining us,” said James F. Gero, Chairman of the Board of Directors. “Maria provides the Orthofix Board with significant experience in the medical device industry, as well as insight into international markets. The fact that she previously served on our Board will help provide an immediate positive contribution.”
“Orthofix is approaching the next chapter in its evolution as it utilizes its high profitability and financial capacity to drive revenue growth and maximize shareholder value,” commented Robert Vaters, President and Chief Executive Officer. “Maria’s experience and perspective as a medical device chief executive officer will strongly contribute in achieving this.”
Ms. Sainz has over 20 years of experience in the medical device industry having held commercial and general management positions in the US and Europe with small companies and large corporations. Ms. Sainz served as the President and CEO of Concentric Medical, Inc. since April 2008. In October 2011, Concentric Medical was acquired by Stryker Corporation where she was named General Manager of the business unit of Stryker Neurovascular, where she served until May 2012. From 2006 to 2008, Maria led integration activities following the acquisition of Guidant by Boston Scientific. From February 2003 through July 2006, Ms. Sainz served as President of the Cardiac Surgery division of Guidant Corporation/Boston Scientific. From January 2001 through February 2003, Ms. Sainz served as Vice President, Global Marketing for the Vascular Intervention division of Guidant Corporation. From late 1998 through early 2001, Ms. Sainz served as Vice President of the Intermedics Cardiac Rhythm Management business of Guidant Corporation in Europe. Prior to that Ms. Sainz held several sales and marketing assignments of increasing responsibility in Guidant’s European operations. Ms. Sainz received an M.A. in Languages from the University Complutense in Madrid, Spain and a Masters in International Management from the American Graduate School of International Management.