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09-Sep-2019

Tennor Holding Appoints Joseph M. Hogan as Chairman of Supervisory Board of avateramedical N.V.

LONDON, Sept. 9, 2019 /PRNewswire/ -- Tennor Holding B.V. ("Tennor"), a global investment holding company, today announced that it has appointed Joseph M. Hogan as Chairman of the Supervisory Board of avateramedical N.V. ("avatera"). avatera is an emerging robotic surgery platform, which is majority-owned by Tennor.  Mr. Hogan's appointment is subject to being formally approved by the general shareholders' meeting, which is expected to be completed within the coming few weeks.

Mr. Hogan is currently President and CEO of Align Technology ("Align"), a c.$2.2Bn revenue global medical technology leader in the clear aligner market, having pioneered the Invisalign system in 1997. He is an accomplished executive and brings extensive experience across multiple industries including healthcare, technology and industrial automation to avatera's Supervisory Board. Prior to Align, Mr. Hogan served as CEO of ABB, a global power and automation technologies company based in Zurich, Switzerland. He also spent 25 years at General Electric ("GE") in a variety of executive and management roles, including eight years as CEO of GE Healthcare.

Dr. Hubertus von Grünberg and Dr. Peter Wiesing, Co-CEOs of avatera said: "Joe Hogan is a fantastic fit with avatera and its Supervisory Board. avatera is expected to start the commercialisation of its robot over the coming year and being able to draw on Mr. Hogan's experience and abilities, will be invaluable to avatera's success."

Joe Hogan said: "avatera has made incredible strides in the development of its innovative technology and I am honoured to have the opportunity to join the avatera team. As I have come to know the company over recent months, I've been very impressed with its leadership and broader management team. avatera has an outstanding product and with the support of Tennor, I believe it is well positioned to become a global leader in the very underpenetrated robotic surgery market.  I am very much looking forward to this exciting opportunity to guide and support the team." 

Lars Windhorst, Chairman of the Advisory Board of Tennor Holding B.V. added: "As a majority owner of avatera, we are thrilled that Mr. Hogan has accepted this important role with one of our portfolio companies. Joe is one of the most respected and renowned business leaders and a true pioneer in medical technology and precision engineering. His guidance and direction will be integral to the successful implementation of avatera's growth plans. With its imminent product launch and roll-out, it is the perfect time to strengthen the Supervisory Board." 

About avateramedical N.V.:

avateramedical is a fast-moving entrant into the rapidly growing robot-assisted, minimal invasive surgical ("MIS") market.  The group was founded in 2011 at the initiative of Prof. Dr. Jens-Uwe Stolzenburg, a leading German MIS surgeon, Dr. Hubertus von Grünberg, former CEO of Continental AG and former Chairman of ABB., and Tennor Holding B.V., a global investment holding company.   

For more information, please visit the corporate website, avatera.eu/home/

About Tennor Holding B.V.:

Tennor Holding B.V. is a global investment holding company which invests in public and private companies through the acquisition of majority and minority stakes, as well as public and private debt instruments.

Tennor invests in special situations where its entrepreneurial innovation provides support and expertise to rapidly create value. Its portfolio is well diversified across technology, industrials, natural resources, media, entertainment & sports, retail and real estate.

Tennor was founded by Lars Windhorst, who is the ultimate beneficial owner.

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Last Updated: 09-Sep-2019