Orthopedic devicemaker Wright Medical named Daniel Garen as a senior vice president and chief compliance officer. Garen came to Wright Medical from Siemens, where he was vice president of healthcare policy and clinical affairs and previously chief compliance officer and senior counsel.
Garen, whose age was not available, replaced interim chief compliance officer John Knighton, who remains with the company as director of compliance, according to a spokeswoman. Garen's appointment was effective Jan. 30, and Wright Medical's board approved granting Garen the option to purchase up to 50,000 shares in the Arlington, Tenn.-based company at $17.35, the price at which they closed the previous day,
according to a news release.
“Our organization has made significant improvements to our compliance policies and procedures over the past several months, and we look forward to continuing to enhance this critical area of our business under Dan's leadership,” President and CEO Robert Palmisano said in a news release. Palmisano assumed leadership of the company in September, succeeding Gary Henley,
who resigned in April before a board meeting scheduled to discuss the company's compliance program.
Wright Medical agreed in 2010 to pay $7.9 million and entered a deferred prosecution agreement to resolve allegations involving consulting relationships with orthopedic surgeons. The agreement with
prosecutors was extended in September for 12 months.