PLAINVILLE, Mass.--(BUSINESS WIRE)--March 8, 2004--Endius, the leader in minimally invasive surgery for the spine, today announced the appointment of Michael P. McCarthy to the position of President and Chief Executive Officer. Mr. McCarthy succeeds Don Grilli, who served as President and Chairman of the Board of Endius for the past two years. Mr. Grilli will be retiring and will serve as a consultant during the transition period.
During Mr. Grilli's tenure, Endius received close to $30 million in venture capital, introduced the first comprehensive minimally invasive system for lumbar spine surgery and more than doubled its revenues and patent portfolio. Endius is now widely recognized as being well positioned to prosper as minimally invasive techniques replace traditional open surgery for spine surgery patients.
Mr. McCarthy has more than 25 years of experience in the orthopedics device industry. He most recently served as Vice President of Sales and Marketing for Implex, a privately held orthopedic products innovator that was recently acquired by Zimmer Holdings, Inc. At Implex, Mr. McCarthy had global responsibility for product positioning and distribution and marketing for all of its spinal fusion products. Earlier, Mr. McCarthy co-founded Oxford Medical, Inc., an independent sales distribution organization which became a leading marketer of the Johnson & Johnson Orthopedic product portfolio. Mr. McCarthy is a 20-year veteran of Johnson & Johnson Orthopedics, where he served as Director of Sales.
"Back surgery is the fastest-growing segment of the $15 billion orthopedics industry and Endius has the talent and technology to build sustained leadership in this market," said Mr. McCarthy. "Surgeons across the country have performed more than 1,000 cases using the Atavi(R) Atraumatic Spine Surgery System as an alternative to open back surgery, enabling patients to achieve positive outcomes and quickly return to an active lifestyle. At the same time, the platform technology for Atavi shows significant potential as an adjunct to a wide range of emerging surgical applications that could increase its market potential multifold."
"Mike McCarthy has a proven track record of success for commercializing innovative technologies in orthopedics," said Don Grilli. "I look forward to providing continued assistance to the Endius team during Mike's transition into the company."
Founded in 1997, Endius develops breakthrough, minimally invasive spine surgery products and implants to treat serious spine disease. The Atavi(R) Atraumatic Spine Surgery System, which was developed by Endius and received FDA clearance in October 2000, is currently being utilized in hospitals nationwide. Atavi enables surgeons to perform lumbar spine surgery minimally invasively, with one access portal, while preserving the fundamentals of the surgeon's traditional technique. Endius provides comprehensive surgeon education programs, and operates training facilities across the U.S. More information about Plainville, Mass.-based Endius can be found at www.endius.com.
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