Zeus hires new CEO from Becton Dickinson

Paddy O’Brien will become CEO of Zeus on April 1, 2024. [Photo courtesy of Zeus]

Zeus has hired Padraic “Paddy” O’Brien as CEO from Becton, Dickinson and Co. effective April 1, the medical tubing supplier said today.

O’Brien is worldwide president of BD Peripheral Intervention, where he “developed an extensive and consistent track record of delivering durable, sustainable growth while creating a winning culture,” Zeus said in a news release.

O’Brien held management positions at Bard from 2001, rising to the position of global marketing VP by the time of the company’s December 2017 acquisition by BD.

He’ll replace Steve Peterson, who joined Zeus as SVP of global sales and marketing in 2017 and was promoted to president in 2018 and CEO in 2020.

Zeus recently closed its sale to private equity firm EQT, which said it hired O’Brien after an extensi…

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BD pay increases for CEO Tom Polen and the median employee

A new Becton, Dickinson & Co. (BD) pay disclosure included gains for CEO Tom Polen and other executives, as well as an increase in pay for the device manufacturer’s median worker.

The BD pay disclosure — part of the company’s Securities and Exchange Commission filing ahead of its annual shareholder meeting — also included an update on BD’s new executive severance limits. After failing to defeat a shareholder proposal calling for a cap on executive severance payouts, the board adopted a more limited policy that only applied to cash payouts.

“We received positive feedback on this approach from the shareholders to whom we spoke during our 2023 engagement,” the company said. “Shareholders expressed their belief that this was a reasonable approach for BD to take in response to the proposal, and no investor we engaged with requested the inclusion of accelerated equity vesting in the calculation of the termination pay limit.R…

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BD limits executive severance after ‘golden parachute’ shareholder proposal overcomes board opposition

Becton, Dickinson and Co. (BD) will now need stockholder permission for cash severance payouts to executives above a newly set limit.

It’s the latest example of how executive compensation is being scrutinized in the medtech industry, where the world’s largest device manufacturers have collectively reduced headcount even as revenue hits record highs.

BD’s medical and interventional segments make it the world’s 11th-largest device company, according to Medical Design & Outsourcing‘s 2023 Medtech Big 100 ranking.

The new executive severance policy took effect on Nov. 21, 2023, BD said in a filing with the Securities and Exchange Commission.

The board adopted the policy after a BD shareholder proposed more extensive limits at the company’s January 2023 annual meeting. Despite opposition from the board, the proposal won nearly 62% of votes cast (excluding absentions and broker non-votes).

The shareholder p…

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BD hires new chief medical officer from 3M Health Care

Dr. Ron Silverman is the next chief medical officer of Becton, Dickinson & Co. [Photo courtesy of BD]Becton, Dickinson & Co. (NYSE: BDX) + today named Dr. Ronald “Ron” Silverman as EVP and chief medical officer.

He replaces BD Chief Medical Officer Dr. William Sigmund, who announced plans to retire from BD earlier this year. The change takes effect Dec. 4, 2023.

Silverman comes from 3M Health Care, where he served as SVP and chief medical officer since 2021. He will lead BD’s medical affairs organization across BD’s business units, regions and central team.

Franklin Lakes, New Jersey-based BD said Silverman “will use medical insights and expertise to advance BD’s pipeline of clinically relevant, innovative solutions that align with evolving patient needs, while also contributing to the safety and compliance of BD’s in-market portfolio of products.”

Silv…

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These devices are the top targets of lawsuit-related advertisements

Surgical mesh products continue to drive medical device lawsuit spending. [Photo via Adobe Stock]

Spending on advertisements related to medical device lawsuits this year is on track to exceed last year’s tally.

That’s according to figures provided by Washington, D.C.-based X Ante, which uses data from ad intelligence firm Vivvix. X Ante supplies reports on medical device lawsuit ad spending to the Advanced Medical Technology Association (AdvaMed), which is calling for new federal regulations of mass tort advertising to protect device manufacturers from lawsuits bankrolled by third-party funders.

For the first half of 2023, $6.2 million worth of legal ads targeted five kinds of medical devices:

Pelvic mesh: $3.5 million Hernia mesh: $1.9 million CPAP machines: $532,000 Physiomesh: $262,000 Military earplugs: $54,000

Spending on the top five device categories totaled just under $11 mil…

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BD explores plastic blood tube recycling

Blood tube recycling could give new life to high-quality materials that are currently incinerated after use. [Photo via Adobe Stock]

Becton, Dickinson and Co. (NYSE:BDX) will explore blood tube recycling in a sustainability pilot program.

BD’s partners include Odense University Hospital, the Health Innovation Centre of Southern Denmark, Danish Technological Institute, and GMAF Circular Medico/EcoFitt.

These plastic blood collection tubes are made from high-quality raw materials, but are incinerated with other biohazardous waste after use. The blood tube recycling pilot program will investigate the steps for recycling the tubes, including an evaluation of the recycled plastic’s quality and safety and hygiene precautions.

BD is the world’s largest manufacturer of evacuated blood collection tubes, BD Sustainable Medical Technology Institute Amit Limaye said.

“As part of…

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BD and CerTest Biotec team up on molecular monkeypox diagnostic test

A lab worker prepares samples for the BD Max system. [Photo courtesy of BD]

Becton, Dickinson and Co and CerTest Biotec announced a partnership to develop a molecular diagnostic test for the monkeypox virus.

The CDC is tracking a monkeypox outbreak in the United States and other countries that don’t normally report cases of the infectious virus, which causes a rash and lesions. Monkeypox has been shown to be fatal in up to 10% of cases in Africa.

A “testing bottleneck” may be jeopardizing the ability to contain the virus, experts warned this week.

The automated BD Max platform’s open system reagent suite will validate the CerTest Viasure Monkeypox CE/IVD molecular test, BD said in a news release.

The Monkeypox PCR Detection Kit for the BD MAX system will be offered in a lyophilized format. The test will come in a tube that snaps into the test-specific position on the…

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