North Carolina-based TranS1 has appointed President and COO Ken Reali as its new CEO. TranS1 makes products for patients with lower back problems and hopes to capture a piece of the $7 billion spine surgery business with its AxiaLIF products for lumbar procedures, according to StarNewsOnline. The move comes roughly a year after Reali joined the company.
Prior to coming to TranS1, Reali worked at Smith & Nephew, where he spent five years in various senior marketing, sales and product development positions. He previously worked at Stryker and Biomet, according to a company statement.
Current CEO Rick Randall will continue to serve as a member of the board in the newly created position of executive chairman. Randall joined the company in 2002. Although TranS1 has yet to turn a profit, it narrowed its loss in the third quarter to $3.8 million from $5.6 million a year earlier, StarOnlineNews reports. Revenues were $6.3 million, compared with $6.9 million in the third quarter of 2009.
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