PETE MOLINARO
Chairman and CEO
Chairman and CEO Pete Molinaro has spent the past 30 years as a senior executive and entrepreneur for a number of medical technology start-ups and small companies focused on growth and value appreciation.
In 1999, Mr. Molinaro was recruited by the Marmon Group to serve as President of Surgical Specialties Corporation in Reading, PA. Over the succeeding seven years, Mr. Molinaro and his team nearly tripled sales and EBITDA. In 2006, the business was sold to Angiotech Pharmaceuticals, Inc. (NASDAQ: “ANPI”) in a transaction that valued Surgical Specialties at nearly 20 times EBITDA.
Prior to his years as President of Surgical Specialties, Mr. Molinaro held equity-based senior operating roles with two Florida-based physician practice management companies.
In 1986, Mr. Molinaro and two associates formed IntraOptics, Inc., an intraocular lens company. In just five years, they grew the business to $50 million in annual sales before selling to Chiron Corp. Molinaro continued at the company for another three years as Senior Vice President of Sales & Marketing, helping to double annual revenues during that time. IntraOptics and other add-ons eventually became the surgical products division for Bausch & Lomb (NYDSE: “BOL”).
In 1977, after working for a local life support equipment distributor, Mr. Molinaro joined the start-up management team at CILCO, Inc. Over the next decade, they grew the company into a $100 million ophthalmic surgical device business before selling to Rorer Group, Inc. (Ft. Washington, PA). CILCO was later sold to CooperVision, Inc. before becoming the ophthalmic surgical division for Alcon. Inc (NYSE: “ACL”).
In addition to his role as Adhezion Biomedical’s CEO and Chairman, Mr. Molinaro also serves as a Director of Ben Franklin Technology Partners, Aspen Biomedical Research, LLC and Berks County Economic Partnership.
