Cordis announced that its Board of Directors has appointed Scott Drake as Chief Executive Officer (CEO) effective immediately. Mr. Drake most recently held the position of Executive Chairman of the Cordis Board of Directors. He will succeed Shar Matin, who has stepped down as CEO.
“Scott Drake has been on the Cordis Board of Directors since we acquired Cordis in 2021,” said Hunter Philbrick, H&F partner and Cordis board member. “He has a long history building world-class medical device organizations, bringing to market groundbreaking patient saving innovations and driving commercial excellence – along with the reputation of attracting, retaining, and developing world-class talent. Scott believes in Cordis’ ability to transform the medical industry, and with him as CEO, Cordis will achieve its vision of pioneering breakthrough cardiovascular technologies.”
Mr. Drake has over 30 years of medical device experience including as the President and CEO of the Spectranetics Corporation, where he increased shareholder value from approximately $170 million to $2.2 billion during his six-year tenure. He has served on numerous boards of directors, including Zayo Group Holdings, which Digital Colony and EQT (EQT) acquired for $14.3 billion, Paragon 28, Inc. (FNA), ViewRay (VRAYQ), Bolder Surgical, the Medical Device Manufacturers Association (MDMA), and he has served as the Chairman of Atricure, Inc. (ATRC).
“I want to thank Shar for all he has done to stand Cordis up as an independent company. I have been on the Cordis Board of Directors for over two years, and I am thrilled to be taking on a more active role as CEO,” states Mr. Drake. “We are entering the next phase of the business, where Cordis is launching new products and driving a revolutionary business model with Cordis-X that will benefit our team, customers, patients, and shareholders