SBI Appoints New Chief Executive

Small Bone Innovations Inc. (SBI) has appointed Michael P. Simpson as president and CEO.

Simpson’s appointment enables Anthony G. Viscogliosi, SBI’s founder, chairman and CEO since 2005, to step up to the new position of executive chairman.

Simpson has held several senior executive positions during his nine-year career at Orthofix Inc.

“SBI’s revenues, excluding discontinued products, have been growing at a compound average annual growth rate of 27 percent during the period 2006-2011, achieving critical mass in terms of balance sheet, revenues, product portfolio and a distribution network serving 41 countries,” Viscogliosi said. “Having established and secured this platform for continuing growth and profitability, SBI’s board of directors and I decided that we had reached the point where an executive seasoned in growing a critical mass platform into a larger scale business should now be recruited as our CEO with a mission to ensure continued growth by leveraging our portfolio of market leading products.”

He called Simpson a “great choice.” based on his track record at Orthofix.

“He is a deeply experienced professional in the orthopedics industry who understands the extremities implant market and the demand for evidence-based medicine in terms of pain elimination and joint preservation,” Viscogliosi added.

During Simpson’s career as a division president at Orthofix, an orthopedic devices company with $575 million-plus revenues in 2011, he managed the global development and distribution internationally of the product portfolio, including foot and ankle technologies.

Mr. Simpson will report to the executive chairman and the company’s board of directors.

“SBi has an enviable record of essentially redefining the small bone and joint sector by introducing innovative arthroplasty and joint-related trauma technologies,” Simpson said.

According to Simpson, the small-join market is “rapidly growing” and worth about $3.3 billion.

Michael P. Simpson is not related to Michael J. Simpson who served as SBI’s president and chief operating officer from 2005 through 2008.

Small Bone Innovations was founded in 2004 by Viscogliosi Brothers LLC. a New York, N.Y.-based merchant banking firm that specializes in the musculoskeletal/orthopedics sector. SBI focuses purely on small bones and joints. The company has facilities in New York, N.Y.; Morrisville, Pa; Péronnas, France; Donaueschingen, Germany; and Kuala Lumpur, Malaysia.