Tegra Medical Announces New President/CEO
5/18/2012 8:26:02 AM
FRANKLIN, Mass., May 17, 2012 /PRNewswire/ -- Tegra Medical is pleased to announce that Robert E. Pietrafesa has joined the company as President and Chief Executive Officer.
"We're thrilled to have Rob join the organization to lead the Tegra team," said David Belluck, Chairman of the Board at Tegra and General Partner of Riverside Partners, the majority owner of Tegra Medical. "Tegra is well positioned to serve the growing medical device outsourcing market with a terrific set of manufacturing capabilities and a dedicated workforce. Attracting a seasoned leader with Rob's broad industry knowledge and operating experience is exactly what's needed to ensure that our strategy and execution are well aligned."
Rob brings more than 16 years of experience as a President and Chief Operating Officer in medical device manufacturing; he has also held executive leadership positions in the clothing manufacturing and wholesale book industries. Most recently, Rob served as President of the InterV Division of Angiotech Pharmaceuticals after the successful sale of American Medical Instruments (AMI) to Angiotech for $785 million. During the three prior years, while he was President at the InterV Division of AMI, the firm's revenues tripled and operating income increased by 500 percent.
Earlier, Rob was a Group Vice President of Medical for the $6.2 billion Marmon Group. There, he served as chief strategist of the medical business and led the acquisition of five companies in six years. He then orchestrated a successful spinoff of most of the medical assets to create a branded device company principally owned by the private equity firm Roundtable Healthcare Partners, with Marmon continuing as an investor. In 1992 Rob assumed the leadership of B.G. Sulzle as Executive Vice President and COO. In five years, Sulzle grew revenue by $28 million by improving quality, reducing lead times dramatically and increasing exports of surgical needles from 25 percent to 65 percent of sales, becoming the world's largest independent manufacturers of surgical needles. In 1997 the company was sold to The Marmon Group.
"I've known Tegra and some of its key principals for a number of years and have always admired the technical prowess, the focus on solving customer problems, and the character and integrity of the team," said Pietrafesa. "I look forward to leveraging this strong foundation and ensuring that we build on past successes with an unrelenting focus on customer satisfaction. Tegra has a committed and talented workforce. With the GENESIS Tech Center® to prototype and develop manufacturing processes, a low cost country option with our operation in Costa Rica, and the sophisticated quality system and practices required today, Tegra has the right offering to meet the needs of the most demanding device manufacturers."
About Tegra Medical
Tegra Medical is focused exclusively on the medical device industry, providing precision machining and contract manufacturing services. Tegra uses a wide range of manufacturing technologies to produce complex components and finished devices used in cutting-edge procedures for leading surgical, interventional and orthopaedic companies. Tegra has 200,000 sq. ft. of modern manufacturing space in four locations and is ISO 13485:2003 registered. The company combines a broad spectrum of capabilities with a can-do culture to deliver exceptional solutions, speed and service.
About Riverside Partners
Founded in 1989, Riverside Partners is a middle market private equity firm currently investing Riverside Fund IV, L.P. The fund focuses on growth oriented companies primarily in the healthcare and technology industries. Riverside is particularly experienced at partnering with founders, owners and management teams and it brings substantial domain expertise and operating experience to its portfolio companies. The partners at Riverside have managed more than $500 million in investments in over 50 companies. The firm is currently focused on companies with revenues between $20 and $200 million and with $5-$25 million of EBITDA.
SOURCE Tegra Medical