NEW YORK -- (BUSINESS WIRE) -- Anthony G. Viscogliosi, the Founder and Executive Chairman of Small Bone Innovations, Inc., (SBi), announced that he will relinquish his executive management duties at SBi after eight years as CEO and, for the past year, as Executive Chairman. He will continue as a member of SBi’s Board of Directors.
In taking the step to resume fulltime activities as a principal of Viscogliosi Brothers, LLC (VB), Mr. Viscogliosi emphasized the need to seize growing opportunities for VB in its merchant banking, venture capital and private equity business dedicated to the neuro-musculoskeletal orthopedics industry.
“Today, SBi is the only pure-play small bone and joint (SBJ) arthroplasty and reconstruction company - with critical mass in revenues, products, balance sheet and global distribution. The company is profitable and growing rapidly, having achieved leadership in the $3 billion SBJ space – the fastest growing segment of the orthopedic device market. VB identified and redefined SBJ treatment as a growth opportunity nearly a decade ago. Having actualized that potential it is time to focus on replicating SBi’s success with VB’s other investments in the neuro-musculoskeletal orthopedics industry,” Mr. Viscogliosi said.
VB formed SBi in 2005 by rolling up a few small companies with established products to complement a vision of global leadership in SBJ arthroplasty and joint-related trauma reconstruction. This vision was realized through the acquisition of the STAR™ total ankle that received Pre-Market Approval (PMA) from the US Food and Drug Administration in 2009 and has become the #1 selling ankle joint arthroplasty system for treating late-stage ankle arthritis.
As an initial step in this management transition, SBi recruited Michael P. Simpson as President and CEO in February 2012, with Mr. Viscogliosi moving up to Executive Chairman.
"Anthony has been instrumental in creating the SBJ franchise through his vision and tenacity in bringing SBi to the forefront. Our job now is to ensure the company and its products become synonymous with the gold standards for preserving the small bones and joints," Mr. Simpson noted.
Previously, Mr. Viscogliosi co-founded and acted as Chairman and CEO of Spine Solutions, Inc. that was sold in 2003 to what is now the DePuy Synthes Companies of Johnson & Johnson for $350 million. He was also a co-founder and board member of the company that subsequently became Ascent Healthcare Solutions, Inc. and was sold to Stryker Corporation for $525 million in 2009.
Mr. Viscogliosi has held board level and executive positions in approximately 40 orthopedics-focused companies. His more than 20-year career in investment banking includes stints at what is now Oppenheimer & Co. Inc., Rodman & Renshaw LLC, and Stifel Nicolaus & Co. Inc. During this period he became uniquely recognized for defining orthopedic and spine devices as a distinct branch of the health care industry. During the same period he served as an officer in the US Navy Reserve and helped create seven not-for-profit medical societies.
About Small Bone Innovations, Inc.
Small Bone Innovations, Inc. (SBi) was founded in 2005 by Viscogliosi Brothers, LLC (VB), the New York-based merchant banking firm that specializes in the neuro-musculoskeletal/orthopedics sector. SBi was the first company to focus purely on small bones and joints by integrating established companies and professionals in the field. It offers a broad, clinically proven portfolio of products and technologies to treat trauma and diseases in the small bones and joints. SBi has facilities in New York, NY, Morrisville, PA, Péronnas, France, Donaueschingen, Germany, and Kuala Lumpur, Malaysia and has sold its products in 41 countries.
For a notice on Forward Looking Statements and more information about SBi, please visit: www.totalsmallbone.com/us/press.php4