MicroVention Inc., OC’s sixth-largest device maker by local employee count with 1,200 area workers, named Carsten Schroeder chief executive and president, beginning early November.
Schroeder comes to the neurovascular device maker from Grifols Diagnostic Solutions, where he has been CEO since 2014.
Schroeder previously held VP roles in marketing with Novartis Diagnostics and Boston Scientific.
MicroVention, an Aliso Viejo-based subsidiary of Japan’s Terumo Corp., makes coils and related devices used for treating strokes and other diseases of the brain’s vascular system.
It is part of Terumo’s cardiac and vascular divisions, which saw about $3.1 billion in 2019 revenue.
“MicroVention’s reputation in their industry makes them well-positioned to becoming the global leader in the neurovascular market,” Schroeder said in a statement.
Schroeder will succeed interim president and CEO Kazuaki Kitabatake, who took over a year ago when Rich Cappetta stepped down as chief executive after 20 years with the company, including 11 years as CEO.
Cappetta this summer was appointed chairman of Bendit Technologies, an Israeli-based maker of steerable microcatheters.
30% Job Growth
MicroVention is best known for its products that treat aneurysms or brain bleeds.
The company is currently conducting a trial on its WEB Aneurysm Embolization System, a technology developed by Aliso Viejo-based Sequent Medical before it was acquired by Terumo and joined MicroVention in 2016.
The trial is expected to be completed at the end of next year.
The company said the WEB system has been shown to shorten procedure times and reduce the risk of complications in complex procedures; at least 3,000 patients have been treated with the device outside of the U.S.
In the meantime, MicroVention—which was bought by Terumo in 2006 on undisclosed terms—continues to grow its local workforce.
Nearly two-thirds of its employees are based at its headquarters at the Summit Office Campus in Aliso Viejo.
The facility, built three years ago, runs 205,000 square feet. It’s leased entirely to MicroVention for office work, as well as research and development and manufacturing, including a clean room.
It also leases additional facilities in Aliso Viejo and Tustin.
The company has boosted its local job ranks by more than 30% over the last year, according to the Business Journal’s September listing of the top area device makers.
More growth appears on tap. It listed about 33 open positions on its website at press time.
