NAPLES —Catalyst OrthoScience, a medical device company focused on the upper extremity orthopedics market, has named medical device industry leader Carl O’Connell president and CEO.
O’Connell replaces Brian Hutchison, who is stepping down, according to a statement. Hutchison joined the company as executive chairman and interim CEO in June 2018 before being asked to stay on as CEO later that same year. He remains a significant investor in the company and will serve as an advisor as needed, the release adds.
“We are pleased to have Carl step in as president and CEO of Catalyst OrthoScience,” says Carter McNabb, managing director at RC Capital and a member of the Catalyst board of directors. (RC Capital was formerly known as River Cities Capital and is a major investor in the firm.) “We thank Brian for the work he has done to build this company to where it is today.”
The leadership change comes at a busy time for the Naples-based firm, founded in 2014 by orthopedic surgeon Dr. Steven Goldberg. In 2021 it both won FDA approval for its innovative new reverse shoulder implant system and closed a $12.5 million funding round that will help it acquire more inventory and hire staff it will need to drive sales in 2022. “As tough as this year has been,” says CEO Brian, “we've actually doubled revenue from (2020) and we think we can double it again in (2022),” Hutchison said in a late 2021 interview with the Business Observer.
“I am excited to join the Catalyst team and continue the company’s trajectory of significant, sustainable growth,” O’Connell says in the statement. “I will be focused on ensuring a smooth transition for our employees, our distributors and our customers over the coming months. I look forward to the commercial launch and expansion of the Archer R1 Reverse Shoulder System, as well as continuing to enhance our product portfolio to maintain Catalyst’s leadership position in the marketplace.”
O’Connell brings experience in orthopedics and executive leadership to Catalyst, including leadership positions at Xtant Medical, Wright Medical, Stryker Corp. and most recently at Cerebrotech Medical Systems, the release states. Cerebrotech is a medical device company that develops portable, non-invasive neurotechnology solutions that improve outcomes for stroke patients undergoing neurological assessment.
Catalyst OrthoScience, with a goal to develop innovative medical solutions that make orthopedic surgery less invasive and more efficient for both surgeons and patients, has a growing portfolio of patents and pending patents on its distinctive surgical offerings. Its products are available across the U.S.