VANCOUVER, Oct. 9, 2014 /CNW/ - Angiotech Pharmaceuticals, Inc. announced today that its Board of Directors has appointed John R. Barr as Chief Executive Officer. Mr. Barr brings over 35 years of medical device and operational leadership experience.
"Over the last three years we have rationalized non-core projects, streamlined operations, stabilized the financial health of the Company and generated significant shareholder value," said Jeff Goldberg, Co-Chair of the Board. "We are ready for growth. Now with an eye toward accelerated growth, we are excited to have John lead the next stage of Angiotech's evolution."
"I am pleased to join Angiotech at an exciting inflection point." said Mr. Barr. "The Board and the management team have done a great job in building a solid, profitable foundation to drive growth. We need to take advantage of our existing franchises in wound closure and surgical knives to accelerate organic growth while adding products that complement our offerings and our global sales channels."
Mr. Barr most recently served as Executive Vice President and President Global Surgical at Bausch + Lomb immediately prior to its acquisition by Valeant Pharmaceuticals in 2013. During his time at Bausch & Lomb, Mr. Barr strengthened the management team, completed a significant acquisition and put in place a strategy to accelerate growth of the business. Prior to that, Mr. Barr spent six years at AGA Medical, a leader in minimally invasive repair of structural heart defects. He initially served as Chief Operating Officer before becoming President and CEO in 2008. During his time at AGA Medical sales grew from $90 million to $210 million over a five year period prior to leading a successful IPO in 2009 and a subsequent sale to St. Jude Medical in 2010 for an enterprise value of $1.3 billion.
Following the sale of its Interventional Oncology division in the spring of 2013 for $362 million, Angiotech renamed and rebranded its operational subsidiaries as Surgical Specialties Corporation (US), Inc. Surgical Specialties Corporation develops and manufactures surgical instruments for its own brands (Quill™ knotless tissue closure device, SSC Surgical Suture, Look™ brand sutures, Sharpoint / SSC Microsurgical Knives, BioSentry) and as an original equipment manufacturer for virtually every major medical device company in the US and many more throughout the world. A US based company with a diverse history under its parent company Angiotech, Surgical Specialties Corporation brings forward a legacy of product excellence through precision manufacturing while maintaining successful global marketing and distribution relationships. Offering one of the most comprehensive portfolios of blades and sutures available, including innovative products such as the Quill™ Knotless Tissue-Closure Device, the company devotes itself to exceeding the needs of the specialty surgery market, having trusted partnerships within dental, ophthalmic, plastic surgery, dermatology, orthopedics, urology, microsurgery, veterinary and trauma specialties. Surgical Specialties Corporation meets the demands of providing real-world customized surgical device solutions. Entrepreneurial spirit combined with a solid history of high-precision design and manufacturing is what makes it unique. The company's proven track record within the field of precision surgical instrument design and manufacturing underscores not only its efficient methodology, but also its customer-driven, collaborative and ethical values.
For additional information about Surgical Specialties Corporation, please visit our website at www.surgicalspecialties.com.
SOURCE: Angiotech Pharmaceuticals, Inc.