Latest news with #KevinThornal
Yahoo
5 days ago
- Business
- Yahoo
Zimmer hires former Nevro CEO Kevin Thornal
This story was originally published on MedTech Dive. To receive daily news and insights, subscribe to our free daily MedTech Dive newsletter. Name: Kevin Thornal New title: Group president for global businesses and the Americas, Zimmer Biomet Previous title: President and CEO, Nevro Zimmer Biomet named Kevin Thornal to the newly created position of group president for global businesses and the Americas, effective July 1, the orthopedics device maker said Tuesday. Thornal was president and CEO of spinal cord stimulation company Nevro from April 2023 until it was acquired by Globus Medical last month for about $250 million. Before that, he was group president of global diagnostic solutions at Hologic, where he held a series of leadership positions beginning in 2014. Before joining Hologic, Thornal worked in sales, marketing and business development at Stryker for 10 years, including as head of North American sales for its interventional spine business. In his new role, Thornal will oversee the Americas commercial organization and lead business strategy and execution for the global knees, hips, S.E.T. and data, technology and enabling solutions units. Thornal will receive an annual base salary of $850,000, with a bonus opportunity in 2025 equal to 100% of his salary on a prorated basis, if performance goals are achieved, Zimmer said in a securities filing. He will also receive restricted stock units valued at $2.65 million and performance-based restricted stock units valued at $2.65 million. In connection with Thornal's appointment, Mark Bezjak will remain president of the Americas but will no longer be an executive officer, according to the filing. Bezjak was promoted to president of the Americas from president of North America in September 2023, shortly after CEO Ivan Tornos became Zimmer's top executive.
Yahoo
7 days ago
- Business
- Yahoo
Zimmer Biomet Appoints Kevin Thornal as Group President, Global Businesses and the Americas
WARSAW, Ind., May 27, 2025 /PRNewswire/ -- Zimmer Biomet Holdings, Inc. (NYSE and SIX: ZBH), a global medical technology leader, today announced the appointment of Kevin Thornal as Group President, Global Businesses and the Americas. Reporting to Chairman-Elect, President and CEO Ivan Tornos, Mr. Thornal will join the Company on July 1, 2025 to oversee the Americas commercial organization and lead business strategy and execution for its global Knees, Hips, S.E.T. and Data, Technology, and Enabling Solutions units. "Kevin is an incredible addition to our leadership team at an exciting time for our Company," said Mr. Tornos. "He brings a bold desire to win and a demonstrated track record of delivering consistently strong growth, driving commercial excellence and building high-performing teams. I am confident his breadth and depth of experience will serve us well as we work together to elevate our U.S. performance and commercial execution, deliver value for all stakeholders, and advance our Mission of alleviating pain and improving the quality of life for people around the world." Mr. Thornal is a seasoned leader with more than 20 years of experience in the medical technology, orthopedics and diagnostics industries. Prior to his most recent role as CEO and President of Nevro Corp., Mr. Thornal spent nine years at Hologic, Inc., where he held several leadership positions of increasing responsibility including Group President of Global Diagnostic Solutions. At Hologic, Inc., Mr. Thornal led the Diagnostic Solutions division during the COVID-19 pandemic and oversaw global teams in R&D, operations and commercial as the company rapidly launched new products, consistently delivered double-digit growth and expanded its international footprint. Mr. Thornal also has a deep understanding of the orthopedics industry, developed during his tenure at Stryker Corp., where he held roles of increasing responsibility in sales, marketing and corporate business development from 2004 to 2014. As head of North American sales for Stryker's Interventional Spine business, Mr. Thornal led his team to achieve sustained double-digit growth. "I could not be more excited to return to orthopedics and join Zimmer Biomet on the journey to becoming the boldest company in medical technology," said Mr. Thornal. "There's a tremendous opportunity to address key unmet needs in musculoskeletal health by helping more customers and patients access the Company's robust new product pipeline. I look forward to working with this talented team, contributing to Zimmer Biomet's culture of collaboration and innovation and delivering meaningful outcomes for patients and customers around the world." Cautionary Note Regarding Forward-Looking StatementsThis news release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements concerning Zimmer Biomet's expectations, plans, prospects, and product and service offerings, including new product launches and potential clinical successes. Such statements are based upon the current beliefs and expectations of management and are subject to significant risks, uncertainties and changes in circumstances that could cause actual outcomes and results to differ materially. For a list and description of some of such risks and uncertainties, see Zimmer Biomet's periodic reports filed with the U.S. Securities and Exchange Commission (SEC). These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in Zimmer Biomet's filings with the SEC. Forward-looking statements speak only as of the date they are made, and Zimmer Biomet disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Readers of this news release are cautioned not to rely on these forward-looking statements, since there can be no assurance that these forward-looking statements will prove to be accurate. This cautionary statement is applicable to all forward-looking statements contained in this news release. About Zimmer BiometZimmer Biomet is a global medical technology leader with a comprehensive portfolio designed to maximize mobility and improve health. We seamlessly transform the patient experience through our innovative products and suite of integrated digital and robotic technologies that leverage data, data analytics and artificial intelligence. With 90+ years of trusted leadership and proven expertise, Zimmer Biomet is positioned to deliver the highest quality solutions to patients and providers. Our legacy continues to come to life today through our progressive culture of evolution and innovation. For more information about our product portfolio, our operations in 25+ countries and sales in 100+ countries or about joining our team, visit or follow on LinkedIn at or X / Twitter at MediaInvestors Heather Zoumas-Lubeski 445-248-0577 David DeMartino 646-531-6115 Zach Weiner 908-591-6955 View original content to download multimedia: SOURCE Zimmer Biomet Holdings, Inc.
Associated Press
7 days ago
- Business
- Associated Press
Zimmer Biomet Appoints Kevin Thornal as Group President, Global Businesses and the Americas
WARSAW, Ind., May 27, 2025 /PRNewswire/ -- Zimmer Biomet Holdings, Inc. (NYSE and SIX: ZBH), a global medical technology leader, today announced the appointment of Kevin Thornal as Group President, Global Businesses and the Americas. Reporting to Chairman-Elect, President and CEO Ivan Tornos, Mr. Thornal will join the Company on July 1, 2025 to oversee the Americas commercial organization and lead business strategy and execution for its global Knees, Hips, S.E.T. and Data, Technology, and Enabling Solutions units. 'Kevin is an incredible addition to our leadership team at an exciting time for our Company,' said Mr. Tornos. 'He brings a bold desire to win and a demonstrated track record of delivering consistently strong growth, driving commercial excellence and building high-performing teams. I am confident his breadth and depth of experience will serve us well as we work together to elevate our U.S. performance and commercial execution, deliver value for all stakeholders, and advance our Mission of alleviating pain and improving the quality of life for people around the world.' Mr. Thornal is a seasoned leader with more than 20 years of experience in the medical technology, orthopedics and diagnostics industries. Prior to his most recent role as CEO and President of Nevro Corp., Mr. Thornal spent nine years at Hologic, Inc., where he held several leadership positions of increasing responsibility including Group President of Global Diagnostic Solutions. At Hologic, Inc., Mr. Thornal led the Diagnostic Solutions division during the COVID-19 pandemic and oversaw global teams in R&D, operations and commercial as the company rapidly launched new products, consistently delivered double-digit growth and expanded its international footprint. Mr. Thornal also has a deep understanding of the orthopedics industry, developed during his tenure at Stryker Corp., where he held roles of increasing responsibility in sales, marketing and corporate business development from 2004 to 2014. As head of North American sales for Stryker's Interventional Spine business, Mr. Thornal led his team to achieve sustained double-digit growth. 'I could not be more excited to return to orthopedics and join Zimmer Biomet on the journey to becoming the boldest company in medical technology,' said Mr. Thornal. 'There's a tremendous opportunity to address key unmet needs in musculoskeletal health by helping more customers and patients access the Company's robust new product pipeline. I look forward to working with this talented team, contributing to Zimmer Biomet's culture of collaboration and innovation and delivering meaningful outcomes for patients and customers around the world.' Cautionary Note Regarding Forward-Looking Statements This news release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements concerning Zimmer Biomet's expectations, plans, prospects, and product and service offerings, including new product launches and potential clinical successes. Such statements are based upon the current beliefs and expectations of management and are subject to significant risks, uncertainties and changes in circumstances that could cause actual outcomes and results to differ materially. For a list and description of some of such risks and uncertainties, see Zimmer Biomet's periodic reports filed with the U.S. Securities and Exchange Commission (SEC). These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in Zimmer Biomet's filings with the SEC. Forward-looking statements speak only as of the date they are made, and Zimmer Biomet disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Readers of this news release are cautioned not to rely on these forward-looking statements, since there can be no assurance that these forward-looking statements will prove to be accurate. This cautionary statement is applicable to all forward-looking statements contained in this news release. About Zimmer Biomet Zimmer Biomet is a global medical technology leader with a comprehensive portfolio designed to maximize mobility and improve health. We seamlessly transform the patient experience through our innovative products and suite of integrated digital and robotic technologies that leverage data, data analytics and artificial intelligence. With 90+ years of trusted leadership and proven expertise, Zimmer Biomet is positioned to deliver the highest quality solutions to patients and providers. Our legacy continues to come to life today through our progressive culture of evolution and innovation. For more information about our product portfolio, our operations in 25+ countries and sales in 100+ countries or about joining our team, visit or follow on LinkedIn at or X / Twitter at View original content to download multimedia: SOURCE Zimmer Biomet Holdings, Inc.
Yahoo
06-02-2025
- Business
- Yahoo
Globus Medical to Acquire Nevro Corp. to Expand Treatment Options for Patients
AUDUBON, Pa. and REDWOOD CITY, Calif., Feb. 06, 2025 (GLOBE NEWSWIRE) -- Globus Medical (NYSE: GMED), a leading musculoskeletal solutions company, and Nevro Corp. (NYSE: NVRO), a global medical device company that is delivering comprehensive, life-changing solutions for the treatment of chronic pain, today announced they have entered into a definitive agreement for Globus Medical to acquire all shares of Nevro in an all-cash transaction. Under the terms of the agreement, which was unanimously approved by the boards of directors of both companies, Globus Medical will acquire all shares of Nevro for $5.85 per share. The transaction represents a total equity value of approximately $250 million. 'This transaction furthers our mission to become the preeminent musculoskeletal technology company in the world by enabling us to expand into new markets for future growth, while gaining access to world-class, differentiated technologies that can provide significant benefit in neuromodulation, enabling technologies, and future implant solutions. We believe our size and operational capabilities will accelerate market penetration of Nevro's technology and bring much needed and clinically superior relief to patients suffering from chronic pain,' said Dan Scavilla, President and CEO of Globus Medical. 'In addition, our scale and operational discipline will allow us to optimize Nevro's financial performance to drive enhanced profitability and create long-term value moving ahead.' 'We are thrilled to join Globus Medical as this will allow us to reach more patients globally with clinically proven, innovative products that significantly reduce the burden of chronic pain,' said Kevin Thornal, Nevro's CEO and President. 'Through Globus Medical's capabilities, global infrastructure and other resources, we will be better positioned to achieve our full potential to become a broader and more diversified leader in the pain management space." Transaction Terms The $5.85 per share consideration represents a 27% premium to the 90-day volume-weighted average price (VWAP) of $4.61, a 38% premium to the 30-day VWAP of $4.23, and a 17% premium to Nevro's closing market price on February 5, 2025. The transaction is expected to close late in the second quarter of 2025, subject to the approval of Nevro's shareholders, regulatory approval, and other customary closing January 8, 2025, Globus Medical announced preliminary 2024 net sales of $2.52 billion, an increase of 60.6% over prior year on an as-reported basis; and On January 13, 2025, Nevro announced preliminary 2024 worldwide revenue of $408 million to $409 a stand-alone basis, Globus Medical reaffirms guidance for 2025 net sales of $2.66 billion to $2.69 billion and fully diluted non-GAAP earnings per share range between $3.40 to $3.50; and Following the consummation of the transaction and assuming the transaction closes late in the second quarter 2025, Globus Medical anticipates 2025 net sales of $2.80 billion to $2.90 billion and fully diluted non-GAAP earnings per share range between $3.10 to $3.40. Globus Medical expects the Nevro acquisition to be accretive to its earnings in the second year of Medical expects to report full financial results for 2024 and provide its updated financial outlook for 2025 during its scheduled earnings announcement on February 20, 2025. Nevro expects to report its full-year 2024 financial results on March 4, 2025. In light of the pending transaction with Globus Medical, Nevro will not hold an earnings conference call and webcast or provide 2025 financial guidance when it reports its 2024 financial results. Financial and Legal AdvisorsGlobus Medical's financial advisor is Morgan Stanley & Co. LLC and Wyrick Robbins Yates & Ponton LLP is serving as legal advisor. Nevro's financial advisor is BofA Securities, Inc. and Latham & Watkins LLP is serving as legal advisor. About Globus Medical, in Audubon, Pennsylvania, Globus Medical, Inc. is a leading global musculoskeletal company dedicated to solving unmet clinical needs and changing lives. We innovate with inspired urgency, provide world-class education and clinical support, and advance care throughout spine, orthopedic trauma, joint reconstruction, biomaterials and enabling technologies. Additional information can be accessed at About Nevro in Redwood City, California, Nevro Corp. is a global medical device company focused on delivering comprehensive, life-changing solutions that continue to set the standard for enduring patient outcomes in the treatment of chronic pain. Nevro's comprehensive HFX™ spinal cord stimulation (SCS) platform includes the Senza® SCS system and support services for the treatment of chronic pain of the trunk and limb and painful diabetic neuropathy. Nevro also provides minimally invasive treatment options for patients suffering from chronic sacroiliac joint pain. To learn more about Nevro, visit Additional Information and Where to Find It This communication may be deemed solicitation material in respect of the proposed transaction. A Nevro special stockholder meeting will be announced to obtain Nevro stockholder approval in connection with the proposed transaction. Nevro expects to file with the SEC a proxy statement and has filed or may file with the SEC other relevant documents in connection with the proposed transaction. Nevro stockholders are urged to read the definitive proxy statement and other relevant materials carefully and in their entirety when they become available because they will contain important information about Nevro and the proposed transaction. Investors may obtain a free copy of these materials (when they are available) and other documents filed by Nevro with the SEC at the SEC's website at and at Nevro's website at Participants in the Solicitation Nevro and its directors, executive officers and certain employees and other persons may be deemed to be participants in soliciting proxies from its stockholders in connection with the proposed transaction. Information regarding Nevro's directors and executive officers is set forth in Nevro's proxy statement on Schedule 14A for its 2024 Annual Meeting of Stockholders, which was filed with the SEC on April 12, 2024, and in Nevro's Current Reports on Form 8-K filed with the SEC. Additional information regarding the persons who may, under the rules of the SEC, be considered to be participants in the solicitation of Nevro's stockholders in connection with the proposed transaction and any direct or indirect interests they may have in the proposed transaction will be set forth in Nevro's definitive proxy statement for its special stockholder meeting to be filed with the SEC in connection with the proposed transaction. Safe Harbor Statements All statements included in this press release other than statements of historical fact are forward-looking statements and may be identified by their use of words such as 'believe,' 'may,' 'might,' 'could,' 'will,' 'aim,' 'estimate,' 'continue,' 'anticipate,' 'intend,' 'expect,' 'plan' and other similar terms. These forward-looking statements are based on our current assumptions, expectations and estimates of future events and trends. Forward-looking statements are only predictions and are subject to many risks, uncertainties and other factors that may affect our businesses and operations and could cause actual results to differ materially from those predicted. These risks and uncertainties include, but are not limited to, the risks and costs associated with the integration of the Nevro business, trends in the medical industry and the ability of Globus Medical and Nevro to: (i) successfully integrate and achieve anticipated synergies, (ii) manage our growth, (iii) sustain profitability, (iv) sustain demand for products, (v) compete successfully (including without limitation success in convincing surgeons to use Globus Medical or Nevro products and the ability to attract and retain sales and other personnel, (vi) rapidly develop and introduce new products, (vii) develop and execute successful business strategies, (viii) comply with changes and applicable laws and regulations that are or may become applicable to Globus Medical and/or Nevro, (ix) safeguard our intellectual property, and (x) succeed in defending against legal proceedings in addition to general economic conditions and other risks. For a discussion of these and other risks, uncertainties and other factors that could affect our results, refer to the disclosure of each Globus Medical and Nevro contained in each company's most recent annual report on Form 10-K filed with the U.S. Securities and Exchange Commission, including the sections labeled 'Risk Factors' and 'Cautionary Note Concerning Forward-Looking Statements,' and in each company's Forms 10-Q, Forms 8-K and other filings with the U.S. Securities and Exchange Commission. These documents are available at Moreover, each of Globus Medical and Nevro operates in an evolving environment. New risk factors and uncertainties emerge from time to time, and it is not possible for Globus Medical and Nevro to predict all risk factors and uncertainties, nor can we assess the impact of all factors on the Globus Medical business and Nevro business, respectively, or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, readers are cautioned not to place undue reliance on any forward-looking statements. Forward-looking statements contained in this press release speak only as of the date of this press release. Globus Medical and Nevro undertake no obligation to update any forward-looking statements as a result of new information, events or circumstances or other factors arising or coming to our attention after the date hereof. Contacts: Investors:Brian KearnsSenior Vice President, Corporate Development and Investor RelationsPhone: (610) 930-1800Email: investors@ Media:Moran ChavezSenior Director, Corporate AffairsPhone: (619) 318-7681Email: media@ Nevro Investor & Media Contact:Angie McCabeVice President, Investor Relations & Corporate CommunicationsPhone: (628) 261-9432Email: in to access your portfolio
