Orthofix Replaces CFO, Names Board Chairman

After appointing an interim chief financial officer (David E. Ziegler) in April, Orthofix International N.V. has appointed Mark A. Heggestad to take over the role permanently. Ziegler will assist Heggestad in the transition and continue to provide consulting services to the company.

“We are excited to welcome Mark to the Orthofix team,” said President and CEO Brad Mason. “There is a lot to do in the next few years to become best in class in our finance and business processes. I believe Mark will be a great partner to the executive team and me in leading these efforts and that he will keep the company focused on the key initiatives that will drive shareholder value.”

Heggestad has more than 20 years of experience in financial leadership roles in the medical device industry. He previously served as executive vice president and chief financial officer at American Medical Systems Holdings Inc., where his supervisory responsibilities included finance and accounting, investor relations, internal auditing, IT, business development and strategic planning, among others. Prior to that he held various executive and management roles at Medtronic Inc., including vice president of finance and IT for the cardiac surgery business, vice president of corporate audit & compliance assurance, and vice president of corporate finance, assistant controller. Before joining Medtronic, Heggestad worked as an audit manager for KPMG.

Orthofix also appointed Ronald A. Matricaria as a director and board chairman. Matricaria replaces Kathleen Regan, who served as interim chair since January. Regan will continue to serve as an independent director for the company and chair of the Nominating and Governance Committee.
Matricaria has more than 35 years of medical device and pharmaceutical experience at St. Jude Medical Inc. and Eli Lilly and Co. He also currently is board chairman at Volcano Corporation Inc., a member of the board at Phoenix Children’s Hospital and, most recently, served as a director at Life Technologies Corporation.

Orthofix is headquartered in Lewisville, Texas, and makes reconstructive and regenerative orthopedic and spine solutions. The company was founded in Italy in 1980.