Aesthetics and neurotoxins company Merz announces plans to reorganize into three independently operating and distinct customer-focused businesses: medical aesthetics, therapeutics, and consumer care. Merz Aesthetics will be the largest dedicated medical aesthetics business globally.
The reorganization was announced as Merz reported the completion of another year of strong business performance across all regions, exceeding fiscal year 2018/19 revenue targets. Merz’s global revenue growth of 6.8% was driven in part by 17% year-over-year growth in the aesthetics business, the company shares in a media release.
In this new structure, all functions and aspects of global Merz Aesthetics business will be solely focused on serving the needs of customers. Merz Aesthetics’ global management team will now be based in Raleigh, NC. Merz will start operating in the new structure January 1, 2020.
As part of this reorganization, Bob Rhatigan has been appointed global chief executive officer of Merz Aesthetics, assuming responsibility for all aspects of the global aesthetics business. Rhatigan previously served as CEO of Merz Americas, where he drove the growth of Xeomin (incobotulinumtoxinA) and Ultherapy in the US and Merz’s flagship injectable filler, Radiesse, in Latin America, the release continues.
“We are pleased to make this change from a position of strength as an organization and in support of our long-term sustainability strategy. This positions Merz Aesthetics as the world’s only global fully focused, medical aesthetics business, committed first and foremost to customers,” says Philip Burchard, chief executive officer of the Merz Group, in the release.
“Bob’s focus on customers, vision to expand our R&D efforts and drive to position Merz as the leading global medical aesthetics business, have materially strengthened who we are as a company and I warmly welcome Bob to this new role.”
“I am honored to lead this exceptional organization of dedicated and talented people,” Rhatigan comments.
“Through the creation of a specialized global medical aesthetics business, we will become even more relentlessly focused on meeting the needs of our customers worldwide and helping to facilitate their success.”