Industry Insider News

Acelity,^™ San Antonio, TX, a global advanced wound care company, has named Ramesh Subrahmanian as president for the international region and as a member of the senior leadership team. Acelity also recently appointed John McAuley as senior vice president for Europe. 

Subrahmanian brings more than 25 years of leadership experience in business development, finance, and commercial management from an array of global pharmaceutical and medical device companies, officials said. He is the former group president, international for Stryker Corp., Kalamazoo, MI, where he was responsible for that company’s commercial markets outside the United States. Previously, he served as president, Asia Pacific for Merck & Co., Kenilworth, NJ, and has held a range of commercial leadership roles at France-based Sanofi.

“Markets across Asia Pacific, Europe, and the Middle East represent tremendous potential not only to expand and grow our business, but to deliver our products and therapies to millions of patients in these areas who would benefit from our portfolio of healing solutions,” said R. Andrew Eckert, president and chief executive officer of Acelity. “Ramesh brings to Acelity a diverse and wide-ranging set of capabilities that will accelerate our global expansion plans. Together with John’s leadership in Europe, we are now well positioned to execute on our strategy of geographic expansion and truly deliver our therapies to people across the globe.”

Subrahmanian holds a professional certification from the Institute of Chartered Accountants in England and Wales, as well as a degree from the City of London Polytechnic in finance and accounting and a bachelor of commerce, economics, financial management, and accounting from the University of Bombay in India. McAuley is a skilled change agent with more than 30 years of experience in the medical industry, officials said. Most recently, he served as president of provider solutions at TriZetto Provider Solutions,^® Englewood, CO, where he led optimization efforts to improve operations and customer experience. Previously, McAuley served as a vice president and general manager for the former ADAC Labs, where he was a member of the team that earned the 1996 Malcolm Baldrige National Quality Award, an award established by the United States Congress in 1987 to raise awareness of quality management and to recognize U.S. companies that have implemented successful quality management systems. 

MiMedx Signs Biologics Agreement, Continues Focus on Biopharma

MiMedx Group Inc., Marietta, GA, a biopharmaceutical company that develops and markets regenerative and therapeutic biologics utilizing human placental tissue allografts and patent-protected processes for multiple sectors of healthcare, has announced the signing of a definitive agreement with the former stockholders of Stability Inc. to divest the company’s subsidiary, Stability Biologics LLC, back to those stockholders.

The recent announcement by the company to transition into a biopharmaceutical company was an impetus for this divestiture initiative, officials said. Acquired by MiMedx in January 2016, Stability Biologics developed and processed bioactive bone graft products and tissue allografts, including structural/particulate bone, structural allografts, demineralized bone matrix, skin products for burns and traumatic wound care, and Physio,^® a bone grafting material. MiMedx acquired Stability Biologics with a combination of cash and stock paid at closing, with future contingent consideration to be paid through a two-year earn-out arrangement.

“We remain very confident in our growth trajectory continuing and in our ability to meet or exceed the revenue projections we have previously set for 2017,” said Parker H. “Pete”
Petit, chief executive officer of MiMedx. “We have determined that the Stability Biologics business is not a strategic fit with our new focus on becoming predominantly a biopharmaceutical company. While we believe the potential of Stability Biologics products continues to be significant, we expect to have better return on investment opportunities in biopharma compared to those in the cadaver tissue category. A major incentive for the MiMedx acquisition of Stability Biologics was its independent sales representative organization. As part of the transaction, MiMedx will retain access to this sales rep organization via a distributor agreement with Stability. This group of sales reps will continue to focus on certain areas of our surgical business.”

“Our human placental tissue allografts are the source material for our primary asset base, which is a key technology differentiator in regenerative biologics,” he added. “We are focusing our efforts on continuing down the investigational new drug/biologics license application regulatory pathways for numerous new therapeutic applications of our placental-based technology. MiMedx will continue to demonstrate, through scientific and clinical studies and trials, the clinical and economic effectiveness of our regenerative biologics and therapies. After this divesture, MiMedx’s gross profit and operating profit margins are expected to improve.”