Steve Paul is Named President at Aspen Medical Products

Aspen Medical Products (Aspen) is enhancing its executive leadership structure to better support the company’s growth and long-term strategic objectives. Effective immediately, Aspen has separated the combined CEO and president position into two distinct executive roles. Jim Cloar will continue to serve as chief executive, while Steve Paul has been hired as president.

The leadership evolution strengthens Aspen’s executive team and positions the company for its next phase of growth, according to executives. As CEO, Cloar will increase his focus on strategic initiatives, mergers and acquisitions, innovation, and long-term expansion opportunities, while Paul will assume responsibility for many of the company’s daily operations, partnering closely with Cloar to continue Aspen’s strong operational and commercial performance.

“Steve Paul brings demonstrated commercial success in the orthotic market along with his success in various medical device enterprises,” Cloar said. “I am excited to work closely with Steve as we together lead Aspen’s future, expand our strong growth across all market segments, and accelerate our focus on innovation and collaboration with partners for mutual success. Steve will be an amazing partner to me as we continue to grow our organization.”

Paul has more than three decades of executive leadership experience across healthcare solutions, medical devices, and orthopedic bracing. Throughout his career, he has held senior leadership positions with organizations including Breg, Vertos Medical, Masimo, and Boston Scientific, where he successfully led commercial growth initiatives and developed hybrid distribution strategies to drive revenue expansion and organizational alignment. His collaborative leadership style and deep understanding of the orthopedic marketplace make him well-positioned to help lead Aspen’s continued success.

“I am honored to step into this new role at such an exciting time for Aspen Medical Products,” Paul stated. “I look forward to working with Jim and the entire Aspen team to accelerate our strategic goals, continue delivering innovative solutions, and create even greater value for our customers, business partners, and employees.”

Founded in 1994, Aspen Medical Products LLC develops and manufactures spinal orthopedics and pain therapy solutions. Designed to restore function and alleviate pain, Aspen’s products address various patient needs across the continuum of care to help them resume activities of daily living. Headquartered in Irvine, Calif., Aspen has local sales representation throughout the United States and internationally.

In 2019, Aspen Medical Products was recapitalized by an affiliate of Cortec Group, a New York-based private equity investment firm. Cortec partners with management teams to build middle-market companies across specialty healthcare, consumer, distribution, specialty services, and specialty products sectors. Through its collaborative investment approach, Cortec helps companies accelerate growth, strengthen operations, and create long-term value.