Zeus hires first chief technology officer

Zeus Chief Technology Officer Suresh Sainath [Photo courtesy of Zeus]

Zeus today announced it hired Suresh Sainath as chief technology officer, effective immediately.

The chief technology officer position is newly created. Sainath will lead the Orangeburg, S.C.-based polymer extrusion and catheter manufacturing company’s efforts to accelerate innovation and leverage the advanced capabilities of its component and contract manufacturing platforms.

“We are making significant investments in research and development, and it’s exciting to have one of the industry’s top innovators lead us into the future,” Zeus CEO Paddy O’Brien said in a news release. “Suresh has a wealth of experience and expertise across med device design, emerging technologies, and developing next-gen catheter solutions. I’m confident his leadership over R&D will further strengthen our commitment to innovation and excellence and reinfor…

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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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Zeus sale to private equity firm EQT closes

Zeus is officially under new ownership after private equity firm EQT closed on its acquisition of the medical tubing supplier.

“Today marks the start of a new chapter for our company, and we’re excited to share this update with you,” Zeus said in an email to “industry partners” announcing the deal’s finalization. “We believe this partnership will allow us to continue to grow and create innovative products to help our customers be successful. We remain focused on our people, our customers, and our partners.”

With the transaction’s closing, former Hillrom CEO John Groetelaars is now Zeus’ executive chair.

EQT and Zeus have not released the purchase price or other terms of the deal. Bloomberg reported in December that the deal valued Zeus at $3.4 billion, citing unidentified “people with knowledge of the matter.”

Earlier this week, EQT said their EQT X target fund hit a hard ca…

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Zeus owners are selling to private equity

The EQT X fund will become the owner of medical tubing tech provider Zeus under an agreement announced today.

Financial terms of the acquisition were not disclosed. Bloomberg reported that the deal values the company at $3.4 billion, citing “people with knowledge of the matter.”

The transaction is expected to close in Q1 2024, subject to regulatory approvals and customary closing conditions. John Groetelaars, the CEO of Hillrom until its $12.5 billion sale to Baxter in 2021, will become Zeus’ executive chair after the transaction closes.

The news comes more than two years after Zeus founder Frank Paul Tourville Sr. died at age 87. The Tourville family’s sale to EQT will enable investments in additional capacity, R&D, and operational excellence, according to Zeus and EQT.

Zeus officials expect continued growth as aging populations require more catheter-delivered structural heart, peripheral and neurovascular therapies. Read more

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Zeus opens Minnesota catheter manufacturing facility

A rendering of the new Zeus facility in Arden Hills, Minnesota [Image courtesy of Zeus]

Zeus has opened its catheter manufacturing facility in Arden Hills, Minnesota, celebrating the new facility with a grand opening today.

The 75,600-ft² building is home to CathX Medical, which Zeus acquired 2021. The facility has advanced R&D lab and cleanroom space for designing, developing and validating medical catheter prototypes. The facility’s capabilities include laser cutting, ablation, and welding.

Zeus said the facility will have more than 100 employees.

“Establishing a presence in Minnesota will create opportunities for innovation and partnership with our current OEM and medical device customers. It will also open doors for new relationships,” Zeus President and CEO Steve Peterson said in a news release. “As we continue expanding globally, we are honored to now be part of this medically …

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Zeus Industrial Products founder passes away

Frank Paul Tourville Sr. — who founded Zeus 54 years ago and built it into a major provider of advanced medical tubing products — recently passed away at age 87.

The Orangeburg, S.C.–based company in its announcement of Tourville’s March 16 death described him as a well-known and highly regarded visionary in the polymer extrusion industry.

Get the full story on our sister site Medical Tubing + Extrusion. 

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DTW Podcast: Geoff Martha updates Medtronic’s new course; AJAX CEO Duke Rohlen is funding innovation differently

Medtronic CEO Geoff Martha and Ajax CEO Duke Rohlen share insights and wisdom on this episode of the podcast.

Less than a year into his role as CEO, Geoff Martha and the Medtronic leadership has overseen a significant reorganization of medtech’s largest player.

In our closing keynote conversation, Martha says the company is clearing a minor COVID-19 bump and sees open road for the company to continue to grab share from competitors.

Martha details what products are gaining the most traction while also identifying those that still have some ground to gain.

We also discuss: When it may bring its renal denervation project to the FDA Why Hugo the surgical robot will be worth the wait (and why development has taken more than a decade) Whether or not Medtronic will collaborate more with private equity firms, early-stage incubators and maybe even SPACs? What will the company’s acquisition strategy look like in 2021. And why. Why the price-cutting for drug-eluting …
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