Issue link: https://beckershealthcare.uberflip.com/i/984530
39 DEVICES & IMPLANTS TOTAL 5 things to know about Medtronic CEO Omar Ishrak By Mackenzie Garrity M edtronic welcomed Omar Ishrak as chairman and CEO in June 2011. "Omar is one of the sharpest, most inspiring CEOs in the world. I've followed him from his earlier days at GE. He is a great CEO," said Scott Becker, publisher of Becker's Healthcare. Here are five things to know about Mr. Ishrak. 1. As CEO, Mr. Ishrak led the acquisition of Covidien, a $10 billion glob- al manufacturer of surgical product supplies. is was the largest medical technology acquisition in history in the industry. 2. Mr. Ishrak is also on the board of directors of Intel and a member of the board of trustees for the Asia Society. He is a member of the Minnesota Public Radio board of trustees. 3. As co-chair of the World Economic Forum's Health and Healthcare Community, Mr. Ishrak promotes health behavior, better management and global access to care. 4. Prior to joining Medtronic, Mr. Ishrak served as president and CEO of GE Healthcare Systems. He also spent time serving as officer and a senior vice president at GE. 5. Mr. Ishrak began building technology development and business man- agement experience at Philips Ultrasound. He went on to hold leadership positions atDiasonics/Vingmed. n Alphatec acquires neuromonitoring technology provider for $18M+: 5 things to know By Laura Dyrda A lphatec acquired SafeOp Surgical, a privately held advanced neuromonitoring technology provider. Here are five things to know. 1. In conjunction with the acquisition, Alphatec announced a $50 million capital raise, using part of the funds on the ac- quisition. Alphatec purchased the company for $15 million in upfront cash, a $3 million convertible note and issuance of 3.3 million shares of common stock and warrants to purchase 2.2 million shares of common stock at $3.50 per share. L-5 Healthcare Partners led the private placement, which included certain directors and executive officers of Al- phatec as well as the new and existing institutional inde- pendent investors. 2. SafeOp is eligible to receive another 1.3 million shares of common stock if the company achieves performance milestones. 3. SafeOp's advanced neuromonitoring technology is de- signed to lower the risk of nerve injury while eliminating the need for a technician or other neuromonitoring profes- sional for most procedures. 4. The patented SafeOp technology was developed through surgeon feedback. "The integration of this key technology into our spine procedures will address un- met clinical needs and improve surgical outcomes of the spine," said CEO Patrick Miles. "We expect the combi- nation to accelerate our business by increasing proce- dural revenue and driving pull through across our entire portfolio." 5. Alphatec also made leadership changes, naming Mr. Miles CEO; the company's former CEO Terry Rich is now president and COO. Dr. Luiz Pimenta was appointed CMO. n 14 top global spinal implants market players By Mackenzie Garrity T he global spinal implants market is expect- ed to see rapid growth in the near future, according to Medgadget. Globally, America is the largest market for spine implants, and within the Americas, North America is leading the market. Europe is the second largest while the Asia-Pacific region is anticipated to expe- rience the fastest growth. Here are 14 top companies in the spinal implants market. 1. Alphatec Spine 2. Amedica 3. DePuy Synthes 4. Exactech 5. Globus Medical 6. Integra LifeSciences 7. K2M 8. Medtronic 9. NuVasive 10. Orthofix 11. RTI Surgical 12. Stryker 13. Quandary Medical 14. Zimmer Biomet n