Biomet Hires New CEO
BY DAVID KRESSEL, FEBRUARY 26, 2007
Biomet today announced that Jeffrey Binder has been hired as CEO. He will replace Daniel Hann, Biomet's former General Counsel and most recently its Interim CEO. Hann will stay with the company as EVP of Administration and a board member.
Excluding his most recent post, Binder has been in the orthopedics industry for the past 15 years. Binder comes from Abbott, where for the past year, he has been SVP of Diagnostic Operations. Before that he ran Abbott Spine and its predecessor, Spinal Concepts. Before he was President and CEO of Spinal Concepts, he was president of large joint and trauma at Depuy, J&J's orthopedics division.
We can assume the private equity consortium that will take Biomet private at the end of the year had a say in Binder's selection. The deal received antitrust approval on February 20th, but the deal is not expected to close until October.
