SALT LAKE CITY, March 11, 2013 /PRNewswire/ -- Amedica Corporation, a spinal and reconstructive medical device manufacturer, announced today that Karl Farnsworth has been named Chief Financial Officer (CFO) on February 21, 2013.
Mr. Farnsworth brings more than 25 years of experience as a financial executive for growth-oriented, publicly traded companies in multiple industries. He most recently served as the Senior Vice President and Treasurer with Energy Solutions, Inc. where he led working capital initiatives generating more than $30 million of sustainable cash.
"Karl brings strong, strategic, financial, and management skills coupled with global investment experience to Amedica," said Eric K. Olson, President and Chief Executive Officer, Amedica. "The addition of Karl complements and strengthens our executive management team as we continue to develop innovative products that improve patient outcomes and lower long term healthcare costs."
Prior to joining Amedica, Mr. Farnsworth served as CFO for Alcan Products Corporation, part of Alcan Inc., which was acquired by Rio Tinto Corporation in 2007. While at Alcan Inc. he spearheaded significant capital investments for the expansion of Alcan's global reach in manufacturing and market penetration into China and Mexico. Also during his tenure at Alcan, he directed a $200 million cash generation initiative throughout Europe and North America. Additionally, Mr. Farnsworth was appointed and served as a Director on the following corporate boards: Alcan Cable (Canada), Inc.; Stabiloy De (Mexico); EPA Holdings Ltd. (Hong Kong); APC Holding Corporation (USA); and, Alcan (Tianjin) Alloy Products Corporation (China).
Mr. Farnsworth holds a BS in Accounting from Brigham Young University's Marriott School of Management and an MBA in Finance from The Ohio State University, Max Fischer School of Business. Mr. Farnsworth is a licensed Certified Public Accountant (CPA) in Utah, a member of The Ohio Society of CPAs, and is certified in Lean Six Sigma.
About Amedica Corporation:
Amedica is an innovative spine and orthopaedic implant and device marketing, manufacturing, and distribution company that provides advanced implants made from its silicon nitride ceramic technology. The company's platform technology represents a new standard for implants based on superior performance, safety and efficacy. Amedica is a privately held, private equity backed company founded in 1996 by internationally recognized orthopaedic surgeons and ceramicists. The company is ISO 13485 certified, its spine products are FDA cleared, CE marked, and sold in ten countries. Amedica Corporation is based in Salt Lake City, UT.
Stacey Holifield / Stacy Nartker
SOURCE Amedica Corporation