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Waltham, MA , April 10, 2017 — Beaver-Visitec International (BVI), a leading global developer, manufacturer, and marketer of specialized surgical devices for the ophthalmic marketplace, today announced that Shervin Korangy has joined the company as Chief Financial Officer and Chief Strategy Officer. Korangy most recently served as a senior executive of Novartis Group AG, a multinational diversified global healthcare company.
"Shervin is a talented executive who possesses deep industry knowledge and insight into how to grow companies tactically and strategically," said Dana G. Mead, Jr. President and CEO of BVI. "He will be a significant asset as we look to expand into new markets and broaden our ophthalmic platform. His joining marks another important step in furthering BVI's leading position. I look forward to working together with Shervin to pursue a series of exciting growth opportunities."
Korangy brings to BVI more than 20 years of experience leading capital allocation, strategic growth, and operational initiatives for companies across a wide range of industries including the healthcare, financial services, and consumer products sectors. While at Novartis, he held roles as Global Head of Corporate Finance, overseeing M&A and Integrations, as well as in general management in multiple countries, overseeing medical device, pharmaceutical, and consumer health product segments for the Alcon division of Novartis. Korangy also led the global integration and strategic planning process for Novartis' acquisition of Alcon. Prior to joining Novartis in 2010, Korangy served as a Managing Director at The Blackstone Group, where he spent approximately 15 years in the firm's restructuring and private equity businesses.
"BVI's ongoing commitment to improving patients' lives through product innovation and quality positions the company with a wonderful growth potential," said Shervin Korangy. "I am very excited to be joining the team and look forward to working closely with Dana, the rest of BVI's management team, and our investor TPG Capital to continue to build on the company's momentum."
Korangy's hiring follows a series of key leadership appointments for BVI. These include Dana G. Mead, Jr., a former Strategic Advisor and Partner at Kleiner Perkins Caufield & Byers (KPCB), as President and CEO; Ron Labrum, an industry veteran and the former President and CEO of medical device company Fenwal, as Chairman of the Board; and Darin Dixon, the former Vice President of Global Sales at ophthalmic device company AcuFocus Inc., as Vice President of U.S. Sales. In July of 2016, BVI was acquired by TPG Capital, the North-American- and European-focused private equity fund of global alternative asset firm TPG. TPG's investments in the healthcare sector have spanned disciplines and geographies around the world, including EnvisionRx, Fenwal, Healthscope, Par Pharmaceuticals, QuintilesIMS, and Surgical Care Affiliates.
Headquartered in Waltham, Massachusetts, USA, Beaver-Visitec International develops, manufactures and markets ophthalmic and other specialty microsurgical products. Beaver-Visitec distributes products in over 90 countries worldwide and operates manufacturing facilities in Waltham, MA, USA and Bidford on Avon, U.K. Beaver-Visitec offers products and services for all aspects of Ophthalmic Surgery, including cataract, refractive, oculoplastic, and vitreoretinal sub-specialties as well as other specialty microsurgery procedures. More information about Beaver-Visitec International can be found at www.beaver-visitec.com.
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