Breg Appoints Former Integra LifeSciences CEO as Chairman of the Board Sports Medicine Leader Announces Appointment as it Focuses on Strategic Growth
CARLSBAD, Calif., July 23, 2012 /PRNewswire/ -- Breg, Inc., a premier provider of sports medicine products and services, today announced the appointment of Stuart M. Essig, 50, as chairman of the board. Mr. Essig is the former chief executive officer of Integra LifeSciences Holdings Corporation, having retired from the position earlier this year. The appointment of Mr. Essig is Breg's first outside board appointment since Water Street Healthcare Partners, a strategic private equity firm focused exclusively on the health care industry, invested in Breg last month with plans to build it into a market leader specializing in nonsurgical orthopedic products.
"We are thrilled to have an executive of Stuart's caliber and experience join our board," said Brad Lee, president, Breg. "Together with Water Street, we plan to expand Breg to play a greater role in advancing the growing area of nonsurgical orthopedic care. Stuart's expertise in the medical products sector and his experience growing Integra into a global leader will be extremely beneficial to our management team as we embark on a strategy to broaden Breg's portfolio of products and value-added services."
During his 14-year tenure as Integra's CEO, Mr. Essig transformed the company from a single-technology organization with $15 million in annual revenues to a global surgical products company with more than $780 million revenues in 2011. Prior to Integra, Mr. Essig served as managing director of health care for Goldman, Sachs & Co., where he specialized in mergers and acquisitions for medical device, pharmaceutical and biotechnology companies. Mr. Essig currently serves as non-executive chairman of Integra LifeSciences and a board member of St. Jude Medical Corporation. He previously was a director of Zimmer Holdings, Inc., and a member of the executive committee and treasurer of the Advanced Medical Technology Association (ADVAMED).
"Our team has built a strong relationship with Stuart over the past 14 years, as he spearheaded Integra's impressive growth through a combination of innovation and consolidation. Stuart's approach to growth complements Water Street's value creation model, which builds companies into market leaders through both organic strategies and transformational acquisitions. We are pleased to have recruited Stuart to the board as chairman and look forward to him assuming a leadership role in working with Brad and the Breg management team," said Curt Selquist, an operating partner with Water Street and a board member of Breg.
About Breg, Inc.
Breg provides premium, high-value sports medicine products and services that advance orthopedic patient care. From pioneering cold therapy and innovative bracing to caring customer service and award-winning orthopedic practice solutions, Breg delivers a 360° customer experience unmatched in the industry. Founded in 1989, Breg is based in Carlsbad, CA, and is a company of Water Street Healthcare Partners, a strategic private equity firm focused exclusively on health care. Visit www.breg.com.
SOURCE Breg, Inc.