NuVasive Inc. (NSDQ:NUVA) said today that it tapped Rajesh Asarpota to be its new CFO effective Sept. 1, replacing Quentin Blackford, who jumped ship last month for the top finance spot at Dexcom Inc. (NSDQ:DXCM).
San Diego-based NuVasive said Asarpota began his career at GE Healthcare (NYSE:GE)before moving to Life Technologies (NSDQ:LIFE), Questcor Pharmaceuticals and “private equity-backed healthcare companies” for the last several years.
“Raj brings a strong financial and operational background to the NuVasive leadership team as we continue to focus on driving revenue growth and expanding profitability,” CEO Gregory Lucier said in prepared remarks. “I have worked closely with Raj at multiple companies where we were successful at expanding market share and transforming operations. He’s a proven leader who will drive significant shareholder value.”
Leerink Partners analyst Richard Newitter said Asarpota’s appointment is likely to go over well on Wall Street.
“Overall, Mr. Asarpota’s background appears to match the profile CEO Lucier outlined to us (on an investor call last week): someone with strong operational experience that can move NUVA closer to its longer-term 25%+ EBITA margin target,” Newitter wrote. “While perhaps not the ‘consensus’ CFO pick (or at least not a name we think investors were speculating upon), we ultimately think Mr. Asarpota’s experience fits the bill and should be relatively well-received.”
NUVA shares were up 2.0% to $68.01 apiece today in mid-morning trading.
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