Contemporary off a 3rd fiscal quarter that introduced in $4.9 billion in revenues for BD, representing a 22% surge over the identical interval in 2020, a brand new chief monetary officer will quickly take the helm to proceed steering the medical gadget maker out of the pandemic-induced slowdown.
Christopher DelOrefice, a longtime veteran of Johnson & Johnson, who will tackle the titles of each CFO and govt vp, beginning Sept. 6.
In his new function, he’ll oversee not solely the corporate’s whole international finance group but in addition its know-how and international providers enterprise division. He gained’t instantly take over management there however will work with retiring CFO Christopher Reidy to transition into that place by the top of this 12 months.
“Chris has the right combination of sturdy operational and company finance expertise that’s extremely related to his new function as CFO at BD,” said BD CEO Tom Polen in an announcement.
“His deep expertise in healthcare and medical know-how—together with supporting a number of massive companies and capabilities at J&J—will assist create a seamless transition as CFO. His investor relations experience offers further worth to the funding neighborhood who know him effectively,” Polen mentioned.
DelOrefice joins BD after a 22-year-long stint at Johnson & Johnson, starting in 1999 with a couple of years spent within the advertising and enterprise improvement finance divisions of J&J subsidiary Ortho-McNeil Pharmaceutical, now often called Janssen Prescription drugs.
In the practically 20 years after, DelOrefice labored his manner up via J&J’s company finance division, culminating in his two most up-to-date appointments: as chief monetary officer of hospital medical gadgets in North America, and as vp of investor relations since 2018.
DelOrefice will take the reins of a a lot more healthy group than his predecessor was grappling with all through 2020. Not solely has BD seen its core companies unrelated to COVID-19 testing largely bounce again to pre-pandemic ranges, however the firm has additionally already dived again into a method of widespread enlargement.
In an earnings report overlaying BD’s third fiscal quarter of 2021, which ended June 30, the corporate registered higher-than-expected revenues of $4.9 billion, topping each 2020’s $3.86 billion and even 2019’s $4.35 billion for a similar interval. That progress was led by double-digit will increase in BD’s pharmaceutical programs and urology and important care segments, Polen defined in an Aug. 5 earnings call.
The corporate has additionally shifted a lot of its focus to finishing tuck-in acquisitions throughout its many companies. In its fiscal 12 months 2021, BD has already snapped up six different medtech builders, together with surgical scaffolding maker Tepha and needle-free blood draw firm Velano Vascular in July alone.