Joseph DeVivo Lands at AngioDynamics
BY LAUREN UZDIENSKI, AUGUST 16, 2011
Effective September 7, Smith & Nephew's former president of orthopedics, Joseph M. DeVivo, will assume the role of President and Chief Executive Officer at AngioDynamics. AngioDynamics is a publicly-traded company (NASDAQ:ANGO) focused on developing minimally invasive medical devices for vascular access, surgery, peripheral vascular disease and oncology. At midday, their stock was down about 1% on news of the appointment.
In their press release, AngioDynamics called Mr. DeVivo their "top candidate" since beginning their search for a permanent CEO. Mr. DeVivo will succeed interim CEO Scott Solano, who will return to his role as Senior Vice President and Chief Technology Officer. The company reported sales of $215.8 million for its fiscal year ended May 31, flat over the prior year.
On July 25th, reports emerged that Smith & Nephew was reorganizing and that Mr. DeVivo would resign from the company. Smith & Nephew's orthopedics division will be merged with the endoscopy division, creating a new division called Advanced Surgical Devices. Former president of endoscopy Mike Frazzette will lead the new unit.
