Zavation Medical Products Appoints Lane Major as CEO

Portfolio - People | Dec 05, 2024 | Gemspring Capital

Zavation Medical Products, a globally recognized leader in spinal device technology and a portfolio company of Gemspring Capital, has appointed Lane Major as its new Chief Executive Officer. Taking over from the founder Jeffrey Johnson, who will remain as Executive Chairman, Mr. Major comes with over two decades of leadership in the healthcare sector, significantly impacting the spinal devices industry. His notable experience includes co-founding K2M, Inc., leading it through key financial milestones including a PE exit, IPO, and a $1.4 billion acquisition by Stryker Corporation, where he later held senior positions. Johnson emphasized the importance of the new CEO sharing Zavation's values and vision as the company prepares to expand its capabilities. Lane Major's focus will be on driving innovation and growth through strategic investments and collaborations, fostering Zavation’s global presence in the spinal solutions market. Principal at Gemspring, Chirag Hirawat, expressed confidence in Major's expertise to guide Zavation's continued expansion and service excellence.

Sectors

  • Healthcare
  • Medical Devices
  • Private Equity

Geography

  • United States – Zavation Medical Products is based in Mississippi, USA, and the leadership changes and parent company's activities are conducted in the United States.

Industry

  • Healthcare – The article pertains to the healthcare industry as it discusses Zavation Medical Products, a company specializing in spinal device technologies.
  • Medical Devices – Zavation focuses on spinal device technology, which is a subset of the medical devices industry sector.
  • Private Equity – Gemspring Capital, a private equity firm, is involved as the owner of Zavation Medical Products, making this relevant to the private equity industry.

Financials

  • $1.4 billion – Value of the acquisition of K2M by Stryker Corporation, a significant event in Lane Major's career.
  • $300 million – Revenue scaled by K2M under Lane Major's tenure.

Participants

NameRoleTypeDescription
Zavation Medical Products, LLCTarget CompanyCompanyA leading global company in spinal devices technology, now appointing a new CEO.
Gemspring CapitalPrivate Equity FirmCompanyPrivate equity owner of Zavation Medical Products, supporting its strategic leadership change.
Lane MajorNew CEOPersonAppointed as CEO of Zavation Medical Products, with extensive experience in spinal technologies.
Jeffrey JohnsonFormer CEO, Executive ChairmanPersonFounder of Zavation, transitioning from CEO role but remaining as Executive Chairman.
Chirag HirawatPrincipal at Gemspring CapitalPersonGemspring principal, supporting the leadership transition at Zavation.