Applied Plastics Names New CEO

Applied Plastics, a leading provider to the advanced catheter components industry owned by Vance Street Capital, LLC, has named Thomas Barrett as CEO, effective immediately.

Founder and previous CEO of Applied Plastics Dave Ring will take on the new role of executive chairman in which he will support the business by assisting in setting strategic direction and technology development. He will continue to nurture relationships with current customers, as well as introduce Barrett to new industry contacts.

“My father and I built this company, and I have full confidence in what Tom will bring to the table,” Ring said. “Through his guidance and our partnership with Vance Street Capital, we will see tremendous growth and advancement in our services.”

Barrett has nearly 30 years of experience in international medical device and contract manufacturing. Prior to joining Applied Plastics, he was president of Oerlikon AM Medical, a leading additive contract manufacturer, where he led the commercialization of additive technology in orthopedics. He also served leadership positions at Tecomet Inc. from 2011 to 2015, including senior vice president and chief commercial officer of the OEM business and senior vice president of worldwide instruments.

Barrett has an additional executive leadership experience in the medical manufacturing industry, including: Medrobotics Corporation, Keystone Dental Inc., Lake Region Medical (formerly Accellent Inc.), and Stryker Corporation. He earned a master’s of business administration from Harvard University and a bachelor’s degree in mechanical engineering from Union College.

“Tom has an extensive medical background and decades’ worth of familiarity and comfort in this industry,” commented Michael Janish, managing partner at Vance Street Capital. “His deep understanding of our customers’ needs, coupled with this company’s experienced team, will help Applied Plastics to be an even more responsive supplier. We’re excited to see the acceleration of Applied Plastic’s strong growth rate under Tom’s leadership.”

“We’ve been honored to work with Applied Plastics on a global basis for over a decade, but there’s so much more to accomplish,” Barry Schnur, CEO of manufacturers’ representative David Schnur Associates said. “We’re excited for the next chapter of progress under Tom and expect to see an expanded reach of their exceptional process mandrels to new applications and customers.” – MPO