Becker's ASC Review

63 ORTHOPEDICS Kevin Lobo's 8+ years as Stryker CEO: Leading 20+ acquisitions, boosting robotics & more By Alan Condon I n 2012, 18 months aer Kevin Lobo joined Stryker as group president of orthopedics, the company appointed him CEO. Here are 10 things to know about Mr. Lobo: 1. Mr. Lobo, 54, has more than 24 years of ex- perience, holding several executive positions in general management and finance. Before enter- ing the medical device industry, he worked for KPMG, Unilever and Kra Canada. 2. His net worth is estimated at $48.6 mil- lion, according to Wallmine. 3. Prior to Stryker, Mr. Lobo spent eight years at Johnson & Johnson, where he served as president of Johnson & Johnson Medical Can- ada and president of Ethicon Endo Surgery. While at Johnson & Johnson, he also operated as CFO of McNeil Consumer Healthcare and Ortho Women's Health and Urology. 4. During his tenure as Stryker CEO, he spearheaded more than 20 acquisitions, including Mako Surgical, K2M, Trauson Holdings and Mobius Imaging. 5. Trauson Holdings, China's largest manu- facturer of pelvic reconstruction plates, was the first acquisition Mr. Lobo led. Stryker acquired the company in a $764 million all- cash transaction in 2013. 6. Stryker splashed $1.65 billion to acquire Mako Surgical that same year. Four years later, the company launched the robotic- arm-assisted total knee replacement applica- tion for use with the Mako System. 7. Additionally, Mr. Lobo serves as a board member for Parker Hannifin Corp., Advanced Medical Technology Association, Business Leaders for Michigan and United Way. 8. Mr. Lobo was born in Mumbai, India, before his family moved to Canada, where he grew up. He is fluent in English and French and speaks some Konkani and Hindi. 9. He graduated with a bachelor's degree in commerce from McGill University in Montreal, Canada, and a master's in business from the University of Toronto. 10. Mr. Lobo's goals for this year are to accel- erate Stryker's spine program and focus on spinal robotics aer the $500 million acquisi- tion of Mobius and its subsidiary Cardan Robotics in October 2019. n NuVasive recalls Magec system for scoliosis, advises surgeons to perform clinical follow-ups By Alan Condon NuVasive issued an urgent field safety notice Feb. 13 recalling its Magec System Model X rods for patients with early-onset scoliosis. The Magec system braces the spine during growth to minimize the progression of scoliosis. The system is being investigated after separation of an actuator end cap component was reported in 0.5 percent of Magec devices post- implantation. The separation of the end cap could lead to degenerated internal components and egress of titanium alloy wear debris, resulting in tissue discoloration. The company is advising spine surgeons to perform clinical follow-ups and discuss potential risks with patients who received the affected rods. NuVasive provided the following statement to Becker's: "First and foremost, NuVasive's priority is the safety of our patients and the ability to support our patients and surgeon partners. Through our post-market surveillance processes, we learned that in certain cases, Magec X rods experienced a post-implantation separation of an actua- tor end cap component. "Although there was a relatively low rate of endcap migration, on Feb. 13, 2020, the company chose to voluntarily recall its Magec X model rods as patient safety is our highest priority." n Bioventus taps former Stryker, Smith+Nephew executive as new CEO By Alan Condon T he board of managers at Bioventus unanimously appointed Ken Reali to succeed Tony Bihl as CEO when he retires April 20. Mr. Reali has more than 28 years of ex- perience in the medical device indus- try, including executive roles at Stryker, Smith+Nephew, and Baxano Surgical. Since 2015, he has operated as president and CEO of medical device company Clini- cal Innovations. Beginning his career at Biomet, Mr. Reali progressed to marketing director and vice president at Stryker, senior vice president and general manager at Smith+Nephew and president and CEO of spinal device company Baxano Surgical. He is on the boards of Ossio Integrative Or- thopedics, AdvaMed and AdvaMed Accel and also serves as chairman of the ethics and compliance committee for AdvaMed. n

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