In his new position, Patrick Fisher will report to directly to Orthofix President and CEO Massimo Calafiore.
Fisher is no stranger to the medical device industry. He joins Orthofix after nearly four years with Stryker Corporation where he served as the vice president and general manager of the foot and ankle business unit.
Prior to Stryker, Fisher spent more than 18 years with Wright Medical in roles of increasing responsibility. He served as vice president of U.S. sales and, when Stryker acquired Wright Medical in 2020, Fisher was asked to be President of lower extremity and biologics for Wright Medical.
Orthofix CEO Calafiore expressed excitement, commenting, “Patrick has led global teams in the successful development and execution of innovative strategies focused on driving commercial optimization across sales, marketing, R&D, clinical research and medical education”
Calafiore continued, “We are excited to welcome him to our team, and I am confident his leadership, experience and broad familiarity with the orthopedics market will help us further grow this franchise and expand our market presence.”
Fisher’s employment with Orthofix includes, according to the company, the following stock grants:
- “performance-based vesting restricted stock units that settle into 30,637 shares of common stock at target achievement, (ii)
- time-based vesting restricted stock units that settle into 15,319 shares of common stock, and
- stock options to purchase 35,195 shares of common stock.”
The “performance-based vesting restricted stock units vest at the end of a three-year performance period” and the “time-based vesting restricted stock units vest in equal tranches over three years.” Additionally, the “stock options vest upon achievement of both service- and performance-based criteria.”
Orthofix’s board of directors approved the grants which were “made under standalone inducement award agreements approved pursuant to NASDAQ Marketplace Rule 5635(c)(4).”
