Download CIRTEC Medical Systems 2009 – 2011

Barry J. Smith
108 West Clay Creek Lane
Kennett Square, PA 19348
[email protected]
(610) 766-1090 (C)
Summary:
Medical Device Executive with twenty-seven years of diverse, progressive leadership experience utilizing business
development, technical, financial and strategic management skills to achieve solid business results… Thrive working in fast
paced and rapidly changing environments…. Well-organized, entrepreneurial, results oriented leader with strong
communication, team building and interpersonal skills…. Relevant industries include Neuromodulation / Neurostimulation,
Cardiovascular, Orthopedics / Spine, Wound Closure / Stapling and Laparoscopic / Endoscopic Devices, Polymer, and OEM
Custom Designed / Engineered Products.
Qualifications:
 EBITDA Growth
 P&L / Capital Management
 Strategic Customer Mgmt. /
Business Development
 Acquisitions / Joint Ventures
 Multi-Facility Mgmt.
 Market & Sales Development /
Mgmt.
 Equity Partner Funded
Businesses
 Lean / Cellular Manufacturing
 New Product Development
 Multi-National Team Leadership
 Contract Negotiations
 Continuous Process
Improvement
 Board Membership
 Start-Up / Change Mgmt.
 Cross-Cultural / International
Group Mgmt.
 FDA / GMP Regulated
Industries – ISO-13485
 Six Sigma / Lean Mfg.
Experience:
BSM
2011- Present
Principal
BSM is a medical device and biotechnology consultancy helping clients succeed in a rapidly changing and highly
competitive marketplace; using twenty-seven years of business expertise and industry experience, BSM assists
organizations in avoiding missed opportunities in strategy development; planning, product launch and execution.
CIRTEC Medical Systems
2009 – 2011
President & Chief Executive Officer
CIRTEC is a leading provider of “single sourced solutions” to the medical device industry for outsourced design,
development and manufacturing solutions. Utilizing its three locations in San Jose, CA, Springfield, MA and Minneapolis,
MN, CIRTEC provides its customers a complete solution across most device markets but with particular specialization in
both passive and active devices for the neuromodulation, cardiovascular, orthopedic and MIS/NOTES. The Company was
formed from the successful merger of Texcel Medical and Circle Medical Devices in October of 2009. Responsibilities
include Director on Management Board, P&L / Capital, Business Development, Research and Development, Engineering
and Program Management. Accomplishments include:
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Completed successful recapitalization in Nov. 2010 with an IRR in excess of 45%
Completed successful merger and integration of Texcel and Circle in Oct. 2009
Improved EBITDA performance by 100% FY 2009 & 2010
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Year over year sales growth of 15%
Restructured quality and sales groups to improve customer satisfaction and sales team performance
Improved internal COGS by 25%
Lead implementation of costing model that allowed organization to function in both the low cost manufacturing
area and the custom design markets
Amedica Corporation – US Spine
2009 – 2010
Board Member US Spine
Served as an active board member to US Spine, Inc.; who develops, manufactures and distributes spinal implants and
instruments. The company offers cervical, interbody\VBR, and facet systems, as well as thoracolumbar systems, such as
preference spine and facet fixation systems; and biologics, such as element bone graft substitutes. The company was
founded in 2003 and is based in Boca Raton, Florida and had a successful exit to Amedica Corporation in September 2010.
Synectic Medical Product Development
2004 – 2009
Chief Operating Officer
A clinically focused outsourced medical device product development and engineering company that works with many of the
world’s largest medical device and biotechnology companies. Our client list includes Medtronic, Johnson & Johnson, C.R.
Bard, Becton Dickinson and Boston Scientific to name a few. Synectic participates on twenty-five to thirty projects annually.
Responsibilities include the day to day business operations, P&L, business development & contract negotiations, project
management and client management. The following are selected results:
 Achieved 20+% year over year sales growth
 Created branding & marketing plan to facilitate growth
 Refined project management and reporting to improve on-time and on budget performance to 98%
 Created human resources manual, review process and performance based reward program
 Achieved customer satisfaction rating of 95%
 Completed facilities expansion to enable continued growth to meet ever-changing customer and vertical
integration expectations
Power Medical Interventions
2002 - 2004
Vice President of Operations / Product Development
Innovative medical device company offering advanced surgical products incorporating computer-mediated and robotic
technologies, revolutionizing both open and minimally invasive surgery. Responsibilities include:
 Development and execution of strategic and tactical plans for the company
 Strategic Vendor and Supply Chain Management - negotiated multi-year contracts to achieve desired
partnerships, long-term supply, and COGS/Service objectives
 Leadership role to overseeing new product development teams – introduction of 4-6 new products per year
 Created strong alliances with virtual manufacturing partners to achieve COGS targets and exponential sales
growth
 Implemented ERP System. Provided hands-on leadership and created strong customer service organization
 Scaled production to meet 100% sales growth while eliminating a chronic, aging backorder
Innovative Gas Systems - Separation Technologies
1998 - 2002
Vice President – Innovative Gas Systems
2001 - 2002
Provided leadership for consolidated company created by merging four technology companies, Generon (USA), Mahler
(Germany), Italfilo (Italy) and SMC (China) that together offer the most complete line of separation technologies on the
market today. Responsibilities include P&L, Global Technology Development, Generon® Product Line Management, Global
Quality System Oversight, and Manufacturing / Operations for locations in Houston, TX, and Pittsburg, CA. Significant
accomplishments include:
 Completed an MBO of Generon and three other companies, principal member of management team
 Developed and commercialized new membrane product
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Transferred technology from Europe to USA to expand product-line while lowering COGS by 25% and
improving reliability and performance
General Manager – Generon
1998 - 2001
Led a business that globally markets, sells and manufactures custom designed and engineered OEM systems, utilizing
membrane and adsorption technologies. Responsibilities included full P&L, Research and Product Development, Sales and
Marketing and Manufacturing, for locations in Houston, TX and Pittsburg, CA. Significant accomplishments include:
 Sales Strategy Shift – resulting in segment growth of 25%/yr
 Created JV for the globalization of products
 Achieved ISO-9001 (three site certificate)
 Successfully acquired technologies to expand product lines; also awarded 6 patents.
 Reduced COGS by $1.6 MM since 1998
Sorin Group - COBE Cardiovascular – Oxygenator Group
1995 - 1998
Manufacturing Director
1996-1998
Led a $70 MM business unit that manufactured Class III Medical Devices for use in heart bypass surgery with compliance to
FDA/GMP. Fully responsible for business unit P&L and operating expense. Functional areas included Manufacturing,
Product/Process Engineering, Materials, and Maintenance/Engineering, accounting for approximately 450 employees.
Significant accomplishments include:
 Reduced costs by $5.7 MM during 1997/1998
 Improved productivity by 30%, utilized cellular manufacturing and demand flow to improve process
 Reduced total inventory by $4.6 MM and increased finished goods turns from 3.4 to 18
 Improved product yields resulting in a $160 K/month savings
Manufacturing Manager
1995-1996
Managed a business unit responsible for manufacturing 275K Oxygenator units annually. Direct responsibilities included
Manufacturing and Materials (Finished Goods, PIC, Staging), accounting for approximately 300 employees. Significant
accomplishments include:
 Successfully assisted in the prevention of a union environment
 Restructured product line offering, decreasing COGS by 25%
 Improved customer satisfaction by reducing complaints 30%
 Reduced costs by $1.3 MM during 1996 (with a 7% increase in sales)
Johnson Matthey - Catalytic Systems Division
1985 – 1995
Manufacturing Manager
1993-1995
Responsible for the coordination of operations in multiple departments of a Catalyst Manufacturing Plant, which produced
18-20 MM units per year. Departments included Production, Quality, Material Control, Sample Production Group, Plant
Logistics, and Environmental Products, accounting for approximately 200 employees. Responsibility for operating P&L,
operating budget of $156 MM and precious metals totaling $350 MM per year. Accomplishments include:
 Decreased cost of nonconformance by 15% annually
 Improved chemical utilization and environmental costs by $350K
 Utilized ergonomics to redesign work stations and reduce Lost Time Injury rate by 25%
 Reduced process defects by 35%. Increased raw material utilization by 6%. Reduced system changeover time
by 25%
 Received Ford TQE - one of only five awarded to suppliers
 Improved batch quality by 27%. Improved sample time by 20%
 Standardized operating systems through training, documentation and measurement
Quality Manager
1990-1993
Provided operational leadership and manufacturing support for a three-shift catalyst production facility. With a staff of 45
managed both Quality Control and Quality Assurance departments to meet internal and external quality requirements. Active
application of the quality improvement process resulted in improved performance and efficiency. Significant
accomplishments include:
 Streamlined quality operations resulting in increased productivity of 20% and a staff reduction of 10%
 One of only 13 companies to supply Chrysler that achieved Pentastar Award consecutively since 1985;
received Platinum Pentastar first year awarded; Recipient of Ford TQE Award since 1989
 Coordinated and achieved ISO-9002 registration in ten months
 Implemented $1.8 MM in instrumentation and facilities upgrades
Other Positions Held at Johnson Matthey
1985-1990
Production Manager / Production Superintendent / Process Control Supervisor / Production Engineer / Process Control
Engineer
Niagara Aromatics, Inc.
1984 – 1985
Systems Engineer
Developed processes and equipment lay-out for start-up organization to manufacture custom chemical intermediates.
Responsibilities included scale-up of products from pilot plant to production quantities. Supervised five skilled trades people
in installation and operation of equipment.
Education:
BS Chemical Engineering, 1984; State University of New York at Buffalo
Training:
Financial Management for Non-Financial Executives
The Management Course; Four week accelerated management program
Statistical Process Control & Statistics for Non-Statisticians
Kepner Tregoe - Problem Solving and Decision Making
Other:
Founding member of Newport Rowing Club; Newport, DE