Clinical Innovations, an EQT portfolio company, said May 16 that Michael Behling has joined as CFO. Behling previously served in CFO and chief accounting officer roles at Lasko Products, Light Wave Dental and Imaging Advantage.
SALT LAKE CITY–(BUSINESS WIRE)–Clinical Innovations, one of the world’s leading medical device-makers focused on labor and delivery and neonatal intensive care, today announced the hiring of Michael Behling as its new chief financial officer.
Behling, who has deep experience leading the financial operations of manufacturing and health care companies, will be responsible for continuing to optimize all aspects of the Salt Lake City company’s financial function. He joined Clinical Innovations as interim chief financial officer in February and was named permanent CFO this week.
“It’s clear Mike is a strong fit culturally and that, coupled with his financial acumen and leadership style, makes this selection a strong choice,” said Ken Reali, CEO and president. “He brings a tremendous track record of financial leadership in companies with a growth and M&A profile, and I am thrilled to work with Mike in his new role as we continue to build CI through an organic and acquisitive strategy.”
Before joining Clinical Innovations, Behling served in CFO and chief accounting officer roles at Lasko Products, a consumer products manufacturer, Light Wave Dental, a dental services organization, and Imaging Advantage, a radiology service provider whose revenue nearly tripled during his tenure. Earlier in his career, he led the financial operations of Harris Broadcast (now Imagine Communications and GatesAir), Isola Group, Nivisys Industries, and LINE-X.
Behling has considerable experience overseeing mergers and acquisitions, multi-site operations, and the implementation of advanced accounting and reporting systems that, over the course of his career, have resulted in significant improvements to organizational efficiency and rigor. An alumnus of Brigham Young University and a certified public accountant (inactive), he has worked for numerous companies owned by private equity firms or backed with venture capital investment. Clinical Innovations is owned by EQT, a leading investment firm with approximately EUR 49 billion in raised capital across 26 funds.
“Clinical Innovations is an industry leader with an extremely bright future, and I’m honored to be entrusted with guiding the company’s financial operations,” Behling said. “From the management and operations team to the product development and sales staff, everyone at Clinical Innovations is top-rate, and I look forward to contributing to the company’s continued success.”
Clinical Innovations’ market-leading products, including the ebb® Complete Tamponade System, ROM Plus® Rupture of Membranes Test, traxi® Panniculus Retractor, babyLance™ safety heel stick and Kiwi® Vacuum Assisted Delivery System, are used in more than 90 countries and more than 85 percent of the hospitals in the U.S. and Western Europe. With a mission of improving the lives of mothers and babies — and a dedication to clinician training — the company has vastly grown its global footprint in recent years, expanding to underserved markets such as China and India. Formed in 1993, the company is celebrating its quarter-century anniversary throughout 2018.
About Clinical Innovations
Clinical Innovations is one of the largest medical device companies exclusively focused on labor and delivery and neonatal intensive care. The company is a market-leader in several categories with products such as the Koala® Intrauterine Pressure Catheter; Kiwi® Vacuum-Assisted Delivery System; ROM Plus® Rupture of Membranes Test; traxi® Panniculus Retractor, ClearView Uterine Manipulator, the babyLance™ Safety heel stick and the recently added ebb® Complete Tamponade System. Clinical Innovations is expanding its global presence while directly researching and developing state-of-the-art technologies and innovative medical devices that fulfill its mission of improving the lives of mothers and their babies throughout the world. Clinical Innovations is an EQT portfolio company. For more information, visit clinicalinnovations.com.
EQT is a leading investment firm with approximately EUR 49 billion in raised capital across 26 funds. EQT is an active investor and owner in the health care sector, including investments in Certara, Press Ganey, Ottobock, Sivantos, and Lima. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership. For more information, visit EQTpartners.com.