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Boston Scientific Names CEO After Tobin Announces Retirement

Jim Tobin, who has served as CEO of Boston Scientific Corp. for 10 years, has retired from the Natick, Mass.-based company. Ray Elliott became president and CEO effective July 13, according to the firm.

“Ten years ago this month [June], I began my tenure as CEO of Boston Scientific, and two months from now, I will turn 65,” said Tobin. “Over the course of the past decade, we have built a stronger,

Elliott

morediversified company that is well positioned for the future. We have achieved this due large-ly to the support of our employees, customers and investors, and I would like to take this opportunity to thank them. Now is an appropriate time for me to turn over the leadership of the company to Ray Elliott, our new CEO. Ray is an outstanding choice.”

Elliott, 59, has more than 35 years of experience leading healthcare and consumer products companies. He led orthopedics company Zimmer Holdings Inc., based in Warsaw, Ind., for 10 years, joining the company as president and rising to chairman, president and CEO. Prior to joining Zimmer, he served as president and CEO of Medway, Mass.-headquartered Cybex International Inc., a medical rehabilitation and cardiovascular products company.

He also has served as president and chairman of various divisions of Southam Inc., a communications group in Canada, and as group president of food and beverage company John Labatt Ltd. in London, Ontario. He began his career in the healthcare industry with American Hospital Supply Corp. in Deerfield, Ill.—now Baxter International Inc.—where he served for 15 years in sales, marketing, operations, business development and general management positions, leading to his appointment as president of Far East divisions, based in Tokyo, Japan.

During Elliott’s leadership of Zimmer, sales and market capitalization quadrupled. Sales increased from approximately $1 billion in 1997 to approximately $4 billion in 2007. Elliott oversaw taking Zimmer public in 2001, with an initial market capitalization of approximately $5 billion. At the time of his departure in 2007, the company’s market capitalization was more than $20 billion. In 2005, he was named “Best CEO in America” for healthcare (medical supplies and devices) by Institutional Investor magazine.

Devicor Medical Products Taps Salkin as Executive VP

Devicor Medical Products Group LLC has named Jonathan Salkin as executive vice president of corporate development and strategy as the company looks to make its first major acquisition.

Salkin most recently served as managing director at the Edinburgh, Scotland-based Royal Bank of Scotland, where he launched that bank’s first global healthcare investment banking group.

Prior to that, as vice president of corporate development for Cardinal Health in Dublin, Ohio, Salkin was involved in strategic planning, mergers and acquisitions for Cardinal’s $10 billion Medical Products and Services group. He also has worked for Dresdner Kleinwort Wasserstein (formerly Wasserstein Perella & Co.) in New York, N.Y., as director of healthcare mergers and acquisitions, and in the mergers, acquisitions and corporate advisory group at Deutch Bank, based in Frankfurt, Germany.

Salkin will work with Daulton to secure Devicor’s initial platform acquisition as the company looks to acquire medical device businesses that manufacture and sell products to clinicians in hospitals, surgery centers and doctor’s offices.

Devicor is based in Pleasant Prairie, Wis., and was formed in partnership with private equity firm GTCR.

Imalux Corporation Names President, CEO

Imalux Corporation has tapped Michael Burke to serve as president and CEO and assume a position on the company’s board of directors.

Burke’s 30-year career in the healthcare industry has included 10 years in domestic and international management positions at Scientific Products and American Hospital Supply Corporation (now

Burke

Cardinal Health), based in Dublin, Ohio. At Cleveland, Ohio-headquartered Picker International (now Philips Medical Systems), Burke was one of the founders of the Health Care Products Division, which later became Source One. In 1995, he joined AccuMed International, a Chicago, Ill.-based diagnostics and information company that designs, builds and supplies cytology and histology products. Burke also was instrumental in taking the firm public.

In 1998, Burke led the acquisition of the microbiology assets of AccuMed. He foun-ded Cleveland, Ohio-based TREK Diagnostic Systems that same year, and then orchestrated the sale of the company to Magellan Bioscience eight years later. He was employed there as CEO until November 2008.

Imalux Corporation, based in Cleveland, Ohio, develops products that provide high-resolution imaging for visualization of tissue microstructure, especially in areas of the body with stratified tissue.