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Miles
Km80.5

   

Active Implants Corporation Announces New CEO


5/18/2009 7:43:56 AM

BUSINESS WIRE -- Active Implants Corporation (AIC), a pioneer of advanced polymer technology for the hip and knee segments of the orthopedic market, today announced that Michael R. Mainelli, Jr., has been appointed President and Chief Executive Officer of the Company. Mainelli succeeds Stephen Bradshaw, a founding member of AIC.

“The Board is grateful for Stephen Bradshaw’s founding work and contributions to develop the Company,” said Jack R. Blair, Chairman of the Board of Directors. “Over the past five years, Steve has led the development of our first product, participated in three rounds of fundraising and initiated commercialization in Europe. We thank Steve for his vision and contributions and we look forward to him working with Mike in an advisory capacity.”

Stephen Bradshaw commented that “I am deeply proud of all that we have accomplished over the last five years. Now is the time to transition to new leadership that will take the company to the next level.”

“Mike Mainelli is a proven global medical device executive with an outstanding track record for building high performing teams, commercializing products, growing businesses, and delivering strong operational results,” said Blair. “Mike is the perfect choice to lead AIC. His initial focus will include strengthening our organization to achieve important value-creating milestones including clinical, regulatory, and commercial results on a global basis.”

Mainelli is a more than 20-year veteran of the medical device and healthcare industry and formerly served as President of Stryker Spine and President of Stryker Japan. He began his career at General Electric Company, where he worked in a number of business units, ultimately rising to an executive role at GE Medical Systems, now called GE Healthcare.

Mainelli holds an MBA from the University of Chicago, an MSE from the University of Pennsylvania and a BMSE from Northeastern University. He has been a member of the Board of Directors of AIC since early 2008 and is also a member of the Board of Directors of Autocam Corporation.

About Active Implants Corporation

Active Implants is incorporating proven medical grade polycarbonate urethane technology into innovative orthopedics products through its TriboFit® Hip and NUsurface® Implant systems.

TriboFit® Hip System, a CE marked device now being commercialized in Europe, is a next-generation bearing surface system used with total and partial hip arthroplasty systems, and hip resurfacing systems. The technology may enable clinicians to offer their patients the benefits of improved wear and improved range of motion and stability, without the disadvantages often associated with current bearing systems. Early results are promising.

NUsurface® Implant, a knee implant system designed to treat early stage knee degeneration by less invasive arthroscopic technique, is in early studies in Europe.

Contact:

Active Implants Corporation Barbara Albiniak, 901-762-0352 barbara.albiniak@activeimplants.com

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