David Floyd, former CEO of DePuy Orthopaedics, a medical device company, will now be at the helm of OrthoWorx, an “industry, community and education” initiative that is working to boost the orthopedics cluster in Warsaw, Ind. Floyd stepped down as CEO of DePuy, a Johnson & Johnson subsidiary, last spring, six months after the company issued a recall of one of its hip replacement systems. The recall has already cost the company nearly $1 billion in legal expenses.
Despite DePuy’s problems, OrthoWorx announced that it is pleased to have Floyd’s “industry experience as the global head of the multi-billion orthopedic enterprise, his leadership in the creation and launch of OrthoWorx, and his deep connections to the Warsaw community.”
“I am delighted to join OrthoWorx and to be able to draw on my experiences in leadership and in the orthopedic industry in a different way – to help the Warsaw region continue to thrive as the orthopedic capital of the world,” Floyd said in prepared remarks. “The orthopedic industry has been a great Indiana success story and I believe it can continue to be a powerful driver of our region’s overall economy.”
Floyd left DePuy while it was embroiled in a recall of its ASR XL Acetabular and ASR Hip Resurfacing systems. The devices were pulled from the market in August 2010 after a higher than usual number of patients required revision surgery to replace defective implants. Since then, hundreds of product liability lawsuits have been filed against DePuy, alleging that the company was aware of flaws in the implant’s design but failed to adequately warn physicians.
Source: Mass Device