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press release

April 8, 2020, 9:00 a.m. EDT

OSSIO Appoints Healthcare Industry Veteran Gary J. Pruden to Board of Directors

OSSIO, Inc., an orthopedic fixation company dedicated to improving orthopedic outcomes and experiences, today announced the appointment of Gary J. Pruden to its Board of Directors. Pruden, who previously served as Executive Vice President and Worldwide Chairman for the Johnson & Johnson ("J&J") /zigman2/quotes/201724570/composite JNJ +0.39% Medical Devices group, brings decades of commercial and C-suite experience in scaling organizations, shaping global operations and driving innovation in the healthcare sector.

"We are thrilled to welcome Gary to the OSSIO Board of Directors. His exceptional strategic and operational experience, deep understanding of the healthcare system and global commercialization expertise – as witnessed throughout his distinguished career at J&J – will prove invaluable to our organization,” said Brian Verrier , OSSIO CEO. “Specifically, Gary’s breadth of experience and high-caliber expertise will be an important asset as we continue to scale our business and accelerate the development and commercialization of our innovative orthopedic product platforms.”

Over the course of his 32-year career at J&J, Pruden held numerous senior leadership positions across both the medical device and pharmaceutical sectors, most recently as a Worldwide Chairman at Johnson & Johnson in Medical Devices (2012-2017). In this role he led a global business where new technologies, global expansion and focus on the patient were critical to success. Prior to that, he held roles of increasing responsibility including Company Group Chairman of Ethicon, Inc., and President of Janssen-Ortho Inc. in Canada.

Pruden also helped lead the J&J strategic collaboration with Google, which was established for the advancement of surgical robotics. He has extensive experience in merger and acquisition transactions, portfolio management, quality and compliance and global regulatory strategy. Currently, Pruden serves in board management and strategic advisory roles for several start-up health companies including Motus GI Holdings, Orchestra BioMed and Lantheus Medical Imaging.

"I am delighted to be joining the OSSIO team at such an exciting juncture in the company’s development. I believe that the innovative OSSIO fiber [®] Technology has real potential to play a significant role in improving clinical outcomes, enhancing patient experience and reshaping orthopedic procedures around the world,” said Pruden. “I look forward to leveraging my expertise and working closely with the OSSIO Board and management team to further enhance and execute on the company's vision of becoming the gold standard in orthopedic fixation while improving patient care around the world."

“Gary’s wealth of industry experience and know-how coupled with his passion for improving patient outcomes via innovative science will be instrumental in helping guide OSSIO through this next important phase as the company works to secure sustainable long-term growth and drive significant value for its shareholders,” said Udi Gilboa , Co-Founder and Executive Chairman of the OSSIO Board of Directors and Founder and Partner of Top Notch Capital.

Last month OSSIO’s OSSIO fiber [®] Hammertoe Fixation System received 510(k) market clearance from the U.S. Food and Drug Administration (FDA) for maintenance of alignment and fixation of bone fractures, osteotomies, arthrodesis and bone grafts.

OSSIO fiber [®] Intelligent Bone Regeneration Technology can address many surgical applications through the manufacturing of endless implant designs, including nails, screws, anchors and plates. The company intends to pursue multiple applications in the distal extremity, trauma, sports, reconstruction, pediatrics, and spine segments. For more information on OSSIO fiber [®] please visit www.ossio.io .

About OSSIOfiber [®] Intelligent Bone Regeneration Technology

Designed for rapid bone in-growth, regeneration and replacement, OSSIO fiber [®] Intelligent Bone Regeneration Technology is a first-of-its-kind implant material stronger than cortical bone that leaves nothing permanent behind. OSSIO fiber [®] is engineered to provide the strength required for functional fixation and allows for full integration into the native anatomy without adverse biological response. OSSIO fiber [®] implants utilize existing reimbursement and surgical techniques. The OSSIO fiber [®] Hammertoe Fixation System and the OSSIO fiber [®] Bone Pin Family are cleared for use in the United States for maintenance of alignment and fixation of bone fractures, osteotomies, arthrodesis and bone grafts in the presence of appropriate additional immobilization.

About OSSIO [®]

OSSIO is an orthopedic fixation company committed to transforming the orthopedic experience for patients, physicians and payors. Founded in 2014, its vision is to provide the first credible replacement to metal implants in the multi-billion-dollar global orthopedic fixation market with its OSSIO fiber [®] Intelligent Bone Regeneration Technology. OSSIO’s development headquarters is located in Caesarea, Israel, and its commercial headquarters is in Woburn, Massachusetts. For more information on the company visit www.ossio.io .

Forward-looking statements contained herein are based on estimates and assumptions of OSSIO management and are believed to be reasonable, though they are inherently uncertain and difficult to predict.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200408005118/en/

SOURCE: OSSIO, Inc.

Kate Boes
919.995.5339
Kate.boes@gmail.com

Copyright Business Wire 2020

/zigman2/quotes/201724570/composite
US : U.S.: NYSE
$ 147.30
+0.57 +0.39%
Volume: 9.73M
June 5, 2020 4:00p
P/E Ratio
22.97
Dividend Yield
2.74%
Market Cap
$386.57 billion
Rev. per Employee
$603,509
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