WALTHAM, Mass.–(BUSINESS WIRE)–BVI Medical, Inc. (BVI), a leading developer, manufacturer, and marketer
of surgical devices for the ophthalmic marketplace, announced today that
it has named Shervin Korangy as President and Chief Executive Officer.
He has also been appointed to BVI’s Board of Directors. Most recently,
Korangy served as Chief Financial Officer and Chief Strategy Officer of
BVI, positions which he has held since joining the company in 2017.
Former CEO Dana Mead, Jr. will continue to serve on BVI’s Board of
Directors as Vice Chairman.
“I am honored to have the opportunity to lead BVI through its next
chapter of growth,” said Korangy. “When I joined the company two years
ago, I was impressed by its strong commitment to innovation and
best-in-class customer focus. This remains true today. We continue to
build one of the fastest-growing, dynamic businesses in ophthalmology.
With recent product launches and our robust innovation pipeline, I am
excited about our future and look forward to working with the entire BVI
team and our investor TPG Capital as we continue to expand. On behalf of
BVI, we would also like to thank Dana for the past two years of
leadership and drive for the business.”
Korangy is an accomplished industry executive with more than 20 years of
experience leading business operations, strategic growth initiatives,
integrations, and capital allocation decisions. He has held a diverse
set of roles and has worked in numerous geographies across the world,
bringing a global perspective to the BVI business.
“Over the past few years, Shervin has been central to BVI’s growth
strategy and success,” said Mead. “His strategic vision and
understanding of our business uniquely position him to lead the
organization going forward. My time at BVI has been one of the most
rewarding periods of my career, and I am proud of all we’ve
accomplished. I want to thank my colleagues at BVI for their great
Korangy’s appointment builds on a period of notable momentum for BVI,
following its recent acquisition of PhysIOL, a leading, Belgium-based
ophthalmic company specializing in the research, development, and
manufacture of intraocular lenses. The transaction marks the third
addition to BVI in two years, following its acquisitions of Malosa
Medical and Vitreq.
“It’s been exciting to watch BVI grow under Dana’s and Shervin’s
leadership,” said John Schilling, Partner at TPG Capital. “We’re
grateful for Dana’s hard work and dedication during his time at BVI and
look forward to our continued partnership. Shervin’s appointment marks a
meaningful next step for the company as it continues its transformation
into a strategic, fully-integrated, and innovative industry leader.”
Prior to BVI, Korangy held several leadership roles at Novartis Group
AG, including the Global Head of Corporate Finance. He also headed
several European geographies for Alcon, which at the time, was a
Division of Novartis. Before Novartis, Korangy spent 15 years at The
Blackstone Group, both as an advisor to companies in the firm’s
restructuring group and as an investor for the firm’s private equity
business. He has served on several Boards throughout his career, which
currently include the Board of Directors for The Hain Celestial Group
(NASDAQ: HAIN) and Motus GI Holdings (NASDAQ: MOTS).
About BVI Medical
Headquartered in Waltham, Massachusetts, USA, BVI develops, manufactures
and markets ophthalmic and other specialty microsurgical products. BVI
distributes products in over 95 countries worldwide. The company offers
products and services for all aspects of ophthalmic surgery, including
cataract, refractive, glaucoma, oculoplastic, and vitreoretinal
sub-specialties as well as other specialty microsurgery procedures. More
information about BVI can be found at www.bvimedical.com