Spectranetics Corp. (SPNC) named Scott Drake, a former DaVita
Inc. (DVA) executive, as its president and chief executive,
effective Aug. 10.
The medical-device maker's search began last November, when
61-year-old Emile J. Geisenheimer retired from the posts.
Drake was senior vice president of operations for DaVita,
provider of kidney care and dialysis, where he was responsible for
business operations that generated about 20% of the company's $6
billion in revenue.
"Scott has a proven track record of developing and leading
efforts to accelerate revenue growth within businesses that are
similar in size as well as much larger than Spectranetics," said
Chairman R. John Fletcher. "Scott's leadership will be a great
asset to the company as we work to expand our presence and capture
the significant potential within our cardiovascular markets."
Spectranetics said in April its first-quarter loss narrowed as
revenue rose 5%.
Shares closed at $6.76 Monday and were inactive premarket. The
stock has gained 32% over the past year.
-By Melodie Warner, Dow Jones Newswires; 212-416-2283;
melodie.warner@dowjones.com