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Misonix interim CEO Stavros Vizirgianakis named permanent CEO

Stavros G. Vizirgianakis has been appointed president and

Stavros G. Vizirgianakis has been appointed president and chief executive of Farmingdale-based Misonix Inc., the company announced on Monday, Dec. 19, 2016. He had served as interim CEO since Sept. 2 and continues as a member of the board of directors, which he joined in May 2013. Photo Credit: Misonix Inc.

Misonix Inc., a Farmingdale manufacturer of ultrasonic surgical tools, announced Monday that interim chief executive Stavros G. Vizirgianakis had been appointed president and CEO on a permanent basis.

Vizirgianakis, the company’s largest shareholder as of Oct. 25, had served as interim CEO since Sept. 2. He continues as a member of the Misonix board of directors, which he joined in May 2013.

Vizirgianakis, who previously worked for United States Surgical Corp. as director of sales for sub-Saharan Africa, said that he hopes to expand the market for Misonix products. Misonix makes devices used in spine, cosmetic and orthopedic surgery.

“While our ultrasonic technologies and tools are generally associated with delicate spine surgery and the debridement of diabetic and burn wounds, I firmly believe there are other surgical procedures that can benefit from the mitigation of soft tissue collateral damage, minimizing blood loss, and the generation of better patient outcomes,” he said in a statement.

In August, Michael A. McManus Jr. resigned as president, CEO and chairman of the board. The job of chairman remains vacant, a company spokesman said.

In September, Misonix disclosed that some of its financial reports may not have been accurate and that the company may have violated the Foreign Corrupt Practices Act.

In the government filing, the company said it may have been aware of practices by a distributor in China that violate laws barring Americans from bribing foreign government officials. The laws also require companies to maintain accounting systems that would reveal bribery.

Separately, the company announced the resignation of board member T. Guy Minetti, who led the recruitment of Vizirgianakis.

“Since being appointed interim CEO, Stavros has quickly engaged in the business with an intense focus on driving Misonix’s recurring revenue business model,” Minetti said in a statement.

In September, the company received a letter from the Nasdaq Stock Market LLC indicating that its failure to file timely reports with the Securities and Exchange Commission violated terms required for continued listing.

In November, Nasdaq accepted a plan by Misonix to avoid having its stock delisted from the Nasdaq Global Market.

Shares of Misonix gained 1.1 percent Monday to close at $9.65. The company’s stock is up 2.7 percent since the beginning of the year.


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