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Former Medtronic exec to lead Zimmer Biomet spinoff

Vava Jamali will lead Zimmer Biomet spinoff “NewCo” as its CEO [Image from LinkedIn]Zimmer Biomet (NYSE:ZBH) announced today that Vafa Jamali will serve as the CEO of “NewCo,” the spine and dental business spinoff that Zimmer Biomet expects to close in mid-2022.

A more than 25-year medtech veteran, Jamali most recently served as chief commercial officer of Rockley Photonics. Before that, he was SVP and president of Respiratory, Gastrointestinal & Informatics (RGI) at Medtronic. Over the years, he’s also held leadership positions at Covidien, Cardinal Health, and Baxter.

“Vafa’s extensive knowledge and experience in building teams, developing long-term growth strategies, prioritizing resources, driving execution and delivering growth across the medical device industry make him the ideal leader to shape the direction of NewCo and move the business forward,” Zimmer Biomet CEO Bryan Hanson said in a news release.

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BREAKING: Zimmer Biomet to spin off Spine and Dental businesses

Zimmer Biomet (NYSE:ZBH) — one of the world’s largest orthopedic device companies — will be a bit smaller going forward.

The Warsaw, Ind.–based company announced today that it will spin off its new Spine and Dental businesses into a new, independent, publicly-traded company called NewCo. Zimmer Biomet plans to complete the transaction by mid-2022.

The businesses that fall under the NewCo banner made up nearly 13% of Zimmer Biomet revenues over the past two years, bringing in $1.022 billion in 2019 and $897 million in 2020. Differentiated spine products to help power NewCo growth in the future include the Rosa One Spine robotic surgery system, the Mobi-C cervical disk and The Tether. Dental boasts a whole sweet of oral reconstruction products.

Zimmer Biomet has been in the midst of a major reorganization in recent years as CEO Bryan Hanson seeks to refocus the businesses, with the company even recently announcing Medtronic veteran Ellie Humphrey&#…

Forward Industries to buy Kablooe Design for $1.6 million

Forward Industries (NSDQ:FORD) today announced the acquisition of substantially all of the assets of medical device design company Kablooe Design for $1.6 million in cash, equity, assumed debt and contingent earn-outs.

Hauppauge, N.Y.-based Forward Industries is a technology product design company. Kablooe’s clients include Medtronic, Boston Scientific, Coloplast, Atricure, Cega Innovations and Rapid Diagnostek.

Get the full story on our sister site, Medical Design & Outsourcing.