BEVERLY, Mass. — April 2, 2013 — Dr. Jean-Luc Boulnois, Chairman of the Board of Directors of Microline Surgical, Inc., announced today that, on his recommendation, the Board has appointed Sharad H. Joshi as Microline’s new President and Chief Executive Officer (CEO), effective April 1st, 2013.
As part of this new leadership strategy, Microline’s Board has also appointed Dr. Boulnois as Executive Chairman of the company, a leading manufacturer of reposable instruments for minimally invasive surgery. Dr. Boulnois has served as Microline’s Chairman and CEO for the last eight years.
Mr. Joshi has been a member of the Microline executive team since 2007, having most recently served as President and Chief Operating Officer (COO). He brings over 25 years of medical device industry experience, including leadership positions in Business Development, Marketing, Sales, Operations and R&D. Prior to joining Microline, Joshi was Founder, President and CEO of Blue Torch Medical Technologies. Previously, he held positions with Boston Scientific and Alliant Medical Technologies.
According to Dr. Boulnois, the Microline Board has elected to bring in new leadership to reengineer the company’s operational functions and continue to better serve its partners, physician customers and their patients, while furthering its successful expansion into global markets.
“The last eight years have been extraordinary for Microline, with the company growing at an incredible 17 percent year-on-year average rate,” said Dr. Boulnois. “Mr. Joshi has played an integral part in Microline’s tremendous growth as we’ve successfully extended our reach into the surgical marketplace both organically and through the introduction of the MiFusion energy product line.”
“This is a time of tremendous promise and change in the healthcare industry as surgeons expand minimally invasive surgical techniques into new procedural areas in an effort to reduce complications and improve outcomes for their patients,” said Joshi. “Microline is uniquely positioned for growth in the field of laparoscopy with our strong management team, global resources, aggressive business development strategy and exceptional products.”
In executing this new leadership strategy, Joshi, together with his recently expanded Senior Management team, will work closely with Microline’s Board of Directors. As Executive Chairman, Dr. Boulnois will concentrate on long term strategic objectives, while creating and developing partnerships that complement Microline’s core business and enhance shareholder value.
About Microline Surgical
Headquartered in Beverly, Massachusetts, Microline Surgical, Inc. is a leading U.S. medical device manufacturer of high quality reposable surgical laparoscopic instruments. Founded in 1987, Microline is a wholly owned subsidiary of HOYA Corporation (7741:TSE) in Tokyo, Japan, a $4.5 billion company with approximately half of its revenues from medical business including endoscopy and eye care. Microline’s integrated modular laparoscopic instrumentation system consists of a selection of reusable handpieces that utilize a broad assortment of disposable tips. This concept allows for surgical efficiency and cost effectiveness to be preserved at all times. The company’s patented product portfolio comprises cutting, dissecting, grasping, cauterizing and ligating instruments used in all laparoscopic surgical procedures as well as tissue welding and vessel sealing technology used worldwide for open and endoscopic cardiac, gynecology, general surgery, otolaryngology, and urology procedures. Microline Surgical products are sold in over 60 countries, with the vast majority of its manufacturing being done in the United States. For more information, visit www.microlinesurgical.com.