Cordis Names Scott Drake as Chief Executive Officer

November 6, 2023—Cordis announced that its Board of Directors has appointed Scott Drake as Chief Executive Officer (CEO) effective immediately. Drake most recently held the position of Executive Chairman of the Cordis Board of Directors. He will succeed Shar Matin, who has stepped down as CEO.

According to the company, Drake has more than 30 years of medical device experience, including as the President and CEO of the Spectranetics Corporation. He has served on numerous boards of directors, including Zayo Group Holdings, Paragon 28, Inc., ViewRay, Bolder Surgical, and the Medical Device Manufacturers Association. Additionally, he has served as the Chairman of Atricure, Inc.

Hellman & Friedman (H&F), a private equity firm, acquired Cordis in 2021. Hunter Philbrick, an H&F partner and Cordis board member, discussed the announcement in the Cordis press release.

“Scott Drake has been on the Cordis Board of Directors since we acquired Cordis in 2021,” commented Philbrick. “He has a long history building world-class medical device organizations, bringing to market groundbreaking patient saving innovations and driving commercial excellence—along with the reputation of attracting, retaining, and developing world-class talent. Scott believes in Cordis’ ability to transform the medical industry, and with him as CEO, Cordis will achieve its vision of pioneering breakthrough cardiovascular technologies.”

Drake stated, “I want to thank Shar for all he has done to stand Cordis up as an independent company. I have been on the Cordis Board of Directors for over 2 years, and I am thrilled to be taking on a more active role as CEO. We are entering the next phase of the business, where Cordis is launching new products and driving a revolutionary business model with Cordis-X that will benefit our team, customers, patients, and shareholders.”

Cordis-X is an independent innovation accelerator based in Menlo Park, California, that provides a streamlined model of medical device innovation built for speed, agility, and value maximization. Through its relationships with Ajax Health and Cordis, Cordis-X is able to quickly identify, evaluate, develop, and invest in emerging technologies that can expand the depth, breadth, and impact of the Cordis product portfolio, noted the press release.