Zimmer Holdings, Inc. has increased the size of its Board of Directors by one. The company picked a sleep guy to fill the spot.
Zimmer Expands Board, Adds Farrell
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On December 12, 2014, the company announced that ResMed Inc. CEO Michael J. “Mick” Farrell will join the board. Zimmer Board Chairman Larry Glasscock said Farrell’s experience “in bringing innovative technologies to the global healthcare market will be a significant asset.” “Mick” is not to be confused with “Mike” Farrell of MASH fame.
ResMed, according to the company statement, is a “leader in the development, manufacture, distribution and marketing of medical products for the diagnosis, treatment and management of respiratory disorders, with a focus on sleep-disordered breathing, chronic obstructive pulmonary disease and other chronic diseases.” The company sells products in over 100 countries and has more than 5, 000 patents. The company’s corporate headquarters are located in San Diego with manufacturing, research and development facilities in Sydney, Australia.
According to Salary.com, Farrell made $5, 193, 322 in total compensation as CEO during the last year. Of this total $787, 500 was received as a salary, $714, 814 was received as a bonus, $0 was received in stock options, $3, 645, 578 was awarded as stock and $45, 430 came from other types of compensation.
Before becoming CEO of ResMed, Farrell was president from 2011 to 2013 of ResMed’s Americas business. From 2007 to 2011 he was the company’s senior vice president of the global sleep apnea business. Before that, he held various positions in marketing and business development with ResMed. Before going to work for ResMed in 2000, he worked in management consulting, biotechnology and chemicals and metals manufacturing, at Arthur D. Little, Genzyme Corporation, The Dow Chemical Company and BHP Billiton.
The company press release said Farrell holds a bachelor of engineering, “with first-class honors, ” from the University of New South Wales, a master of science in chemical engineering from the Massachusetts Institute of Technology and an MBA from the MIT Sloan School of Management. Farrell also serves on the board of directors of (AdvaMed) the Medical Device Manufacturers’ Association in Washington, D.C. and the California Healthcare Institute. Zimmer CEO, Dave Dvorak recently finished a term as chairman of the board of AdvaMed.
Farrell has other interests, including being a board member of the La Jolla Playhouse and the New Children’s Museum in San Diego, and, according to his LinkedIn page, speaks Spanish. If you want to hear his Aussie or Kiwi accent explaining growth strategies, click here.
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This is a fascinating development. In my practice we've seen similar outcomes with the revised protocol. The key differentiator seems to be patient selection criteria. Has anyone else noticed the correlation with BMI thresholds?
Great point. I'd push back slightly on the conclusion, the sample size in the cited study is too small to draw population-level inferences. That said, the directional signal is compelling and worth a larger RCT.
We implemented a similar approach last year. Early results are promising but we're still gathering 12-month follow-up data. Happy to share our protocol if anyone is interested.
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