SeaSpine CFO John Bostjancic will continue as the top financial officer of the to-be-named orthopedic device giant created through a merger with Orthofix.
When the two companies announced their plans to merge last month, they said that Bostjancic’s present boss, SeaSpine CEO Keith Valentine, would be CEO.
“John has been a key leader of SeaSpine dating back to the successful spin-out of the organization in 2015. I am confident his background and experience in the medical device industry, coupled with his cultural influence, will benefit the newly combined company as we continue to grow,” Valentine said in today’s news release.
“I believe John is well positioned to help lead us through the successful integration of the two companies, ensuring accountability across all levels of the organization, as we focus on the key initiatives that will drive growth, scalability and shareholder value.”
Orthofix CEO Jon Serbousek, meanwhile, will be the executive chair of the board. The companies said today that Orthofix CFO Doug Rice will provide post-closing assistance with the integration activities during a transition period.
SeaSpine executives are taking two of the top C-level roles. But it will be Orthofix shareholders who will own approximately 56.5% of the combined companies.
Orthofix and SeaSpine officials expect the merger to close in the first quarter of 2023. The deal is subject to shareholder approvals and other customary closing conditions.