Bioventus Inc. (Nasdaq: BVS) (“Bioventus” or the “Company”), a
global leader in innovations for active healing, today announced
that its Board of Directors has appointed Robert (Rob) Claypoole as
Bioventus’ President and Chief Executive Officer and a member of
its Board of Directors, effective January 10, 2024. Mr. Claypoole
succeeds Mr. Anthony Bihl who has served as interim CEO and a
director on the Board since April 2023.
Mr. Claypoole brings more than 20 years of global commercial
leadership experience in the medical device industry, and a history
of success in accelerating revenue growth and enhancing operational
profitability. He most recently served as Executive Vice President
at Mölnlycke Health Care AB, where he led Mölnlycke’s $1.2 billion
global Wound Care business. Mr. Claypoole previously held senior
positions at Medtronic, Covidien and Johnson & Johnson.
Throughout his career, he has developed extensive expertise in
transforming global medical device businesses to accelerate
innovation, drive organizational efficiencies, and enhance
go-to-market strategies to deliver above market revenue growth.
“We are excited to have Rob join Bioventus and build upon the
significant improvements made this year to further elevate our
execution and overall performance,” said William A. Hawkins,
Bioventus’ executive chairman. “Throughout his career, Rob has
demonstrated first-hand his ability at unlocking value
opportunities across a global business. His track record is marked
by consistently driving commercial and operational excellence,
resulting in above-market sales growth and enhanced profitability.
Moreover, Rob has a history of cultivating high-performing teams
with a laser focus on execution.”
Mr. Claypoole said, “I am honored to join the talented team at
Bioventus, a company with a strong foundation and a diverse,
market-leading product portfolio across attractive markets. I was
attracted to this unique and exciting opportunity given our
important mission to return patients to active lives and due to the
company’s positive momentum this year to solidify Bioventus’
financial position. I look forward to working with the Board and
entire team to drive growth and innovation, generate operational
efficiencies, and strengthen profitability as we unlock the full
potential of our business and create value for patients and our
shareholders.”
Mr. Hawkins added, “On behalf of the Board and the employees of
Bioventus, I want to thank Tony for his valuable contributions and
leadership. Tony has helped to rebuild our financial position,
restore our credibility with stakeholders, enhance our execution
and deliver on our financial plan, while stabilizing the
organization.”
The Company reaffirms its full year financial guidance
previously announced on November 7, 2023.
About Robert Claypoole
Mr. Claypoole joins Bioventus from Mölnlycke Health Care, a
world-leading medical products and solutions company, where he
served as Executive Vice President of Wound Care. In this role, Mr.
Claypoole had full responsibility for a $1.2 billion business and
rapidly accelerated growth from mid-single digit to consistent
double-digit growth in sales and profitability, while also
advancing Mölnlycke’s evolution as an innovative wound care
solutions company across the continuum of care – from prevention to
treatment in acute and post-acute settings. Before that, Mr.
Claypoole was Executive Vice President and President, US for
Mölnlycke where he turned around a declining business to strong
growth and served as an Officer of Mölnlycke Health Care US, LLC
and Mölnlycke Manufacturing US, LLC. In this role, Rob was
responsible for over $.5B in revenue.
Prior to joining Mölnlycke in 2017, Mr. Claypoole served in
various leadership roles at Medtronic and Covidien, before it was
acquired by Medtronic. Mr. Claypoole was Global Vice President
& General Manager, Obesity & Metabolic Health and led the
effort to address one of the most significant healthcare
challenges. Previously, he served as Global Vice President &
General Manager of the Soft Tissue Repair & Hemostats business
where he led a successful global turnaround from years of declining
revenue to significant growth. Before that, he was the Vice
President, Executive Operations after serving as Vice President,
Global Marketing while located in Trevoux, France. Prior to his
time in France, Mr. Claypoole was the Vice President, US Marketing
for the company’s Endomechanical & Intelligent Device business.
Before joining Covidien in 2007, Mr. Claypoole held various
marketing roles with increasing responsibility at Johnson &
Johnson’s Vision Care division.
Rob received his Bachelor’s degree and his Master’s degree in
Business Administration from Cornell University.
About Bioventus
Bioventus delivers clinically proven, cost-effective products
that help people heal quickly and safely. Its mission is to make a
difference by helping patients resume and enjoy active lives. The
Innovations for Active Healing from Bioventus include offerings for
Pain Treatments, Restorative Therapies and Surgical Solutions.
Built on a commitment to high quality standards, evidence-based
medicine and strong ethical behavior, Bioventus is a trusted
partner for physicians worldwide. For more information, visit
www.bioventus.com, and follow the Company on LinkedIn and Twitter.
Bioventus and the Bioventus logo are registered trademarks of
Bioventus LLC.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. All statements contained in this press release that do not
relate to matters of historical fact should be considered
forward-looking statements, including, without limitation,
statements concerning our future financial results and liquidity;
our ability to continue as a going concern; our business strategy,
position and operations; expected sales trends, opportunities,
market position and growth. In some cases, you can identify
forward-looking statements by terminology such as “aim,”
“anticipate,” “assume,” “believe,” “contemplate,” “continue,”
“could,” “due,” “estimate,” “expect,” “goal,” “intend,” “may,”
“objective,” “plan,” “predict,” “potential,” “positioned,” “seek,”
“should,” “target,” “will,” “would” and other similar expressions
that are predictions of or indicate future events and future
trends, or the negative of these terms or other comparable
terminology, although not all forward-looking statements contain
these words.
Forward-looking statements are inherently subject to risks and
uncertainties, some of which cannot be predicted or quantified.
Factors that could cause our actual results to differ materially
from those contemplated in this press release include, but are not
limited to, our ability to attract, retain and motivate our senior
management team and highly qualified personnel; the risk that the
material weakness we previously identified or a new material risk
could adversely affect our ability to report our results of
operations and financial condition accurately and in a timely
manner; we might not be able to continue to fund our operations for
at least the next twelve months as a going concern; pricing
pressure and other competitive factors; we maintain cash at
financial institutions, often in balances that exceed federally
insured limits; we are subject to securities class action
litigation and may be subject to similar or other litigation in the
future, which will require significant management time and
attention, result in significant legal expenses and may result in
unfavorable outcomes; our ability to complete acquisitions or
successfully integrate new businesses, products or technologies in
a cost-effective and non-disruptive manner; legislative or
regulatory reforms; our business may continue to experience adverse
impacts of COVID-19 pandemic or similar epidemics; and the other
risks identified our Annual Report on Form 10-K for the year ended
December 31, 2022, as updated by Bioventus’ subsequent quarterly
reports on Forms 10-Q for the quarters ended Apri1 1, 2023 and
September 30, 2023 and as may be further updated from time to time
in Bioventus' other filings with the SEC, which are accessible on
the SEC's website at www.sec.gov and the Investor Relations page of
Bioventus’ website at https://ir.bioventus.com. Except to the
extent required by law, the Company undertakes no obligation to
update or review any estimate, projection, or forward-looking
statement. Actual results may differ materially from those set
forth in the forward-looking statements.
Investor and Media Inquiries:Dave
Crawford919-474-6787dave.crawford@bioventus.com
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