BD Appoints Former Johnson & Johnson Vision Head Peter Menziuso as EVP and President of Interventional Business
Johnson & Johnson
Medical Device R&D and Manufacturer
Recently, the global medical device giantBD(Becton, Dickinson and Company) announcedAppointment of Peter Menziuso as Executive Vice President and President, Interventional Solutions, effective June 1.
# The Financial Fundamentals of BD's Interventional Business
BD's financial results for the second quarter of fiscal year 2026 (ended March 31, 2026) show that,Interventional segment revenue reached $1.357 billion, up 7.3% year-over-year.(5.3% at constant exchange rates), is the fastest-growing segment among the company's four major business divisions.
Cumulative revenue for the first half of fiscal year 2026 (FY2026 H1) was $2.687 billion, up 5.2% year-over-year (4.0% at constant currency).
However, the structural divergence in growth rates is evident. Breakdown by business unit:
Urology and Critical Care: Q2 growth of 7.5% (fixedat constant currency 6.5%), increased by 8.6% in the first half of the year (8.0% at constant currency), making it the fastest-growing sub-business in the interventional segment.
`Surgery`: Q2 grew 7.4% (5.5% constant currency), and H1 grew 7.4% (5.5% constant currency).
Peripheral Intervention：Q2 growth of 7.1% (4.0% constant currency), first-half growth of 4.9% (2.7% constant currency).
The slowdown in peripheral intervention growth is directly related to pressure from centralized procurement. BD explicitly mentioned this in its FY2025 financial report,The Negative Impact of China’s Volume-Based Procurement on the Peripheral Interventional Business Is Becoming Apparent。
Geographically, Q2 USPeripheral InterventionThe domestic market grew by 3.9%, while the international market grew by 11.1% (4.1% on a constant currency basis). The high growth rate in the international market was partially driven by exchange rate factors; on a constant currency basis, actual growth stood at 4.1%, which is not significantly different from the U.S. market.
# # The Predecessor's 25 Years
April 9, 2026,BD Announces Executive Vice President and Head of Interventional Rick Byrd Plans to Retire, having served at BD for nearly 25 years.
Byrd has led the Interventional segment since September 2022. Previously serving as Global President of Drug Delivery Solutions and Global President of Specimen Management Systems, among other roles, he is a core executive who has risen through the ranks at BD.
During Byrd's tenure, the Interventional segment transformed from BD's "growth segment" into its "fastest-growing segment." In Q1 FY2026, the Interventional segment reported revenue of $1.33 billion, up 5.8% year-over-year, with growth further accelerating to 7.3% in Q2.
However, Byrd's tenure also left unresolved issues.：Strategic Response to Centralized Procurement for Peripheral Intervention in the Chinese Market, Peripheral Intervention Growth Rate Relative to ItsHeDelays in Subsidiary Businesses and Follow-up Management of Product Safety Incidents(In March 2025, Bard Medical, a BD company, initiated a global recall of PowerPICC catheters.) These issues will need to be addressed by the successor.
# Why Peter?
Peter's professional background includes two experiences directly relevant to BD's current requirements.
Section 1, Cardiometabolic Drugs North America Business。He previously managed Janssen’s Cardiovascular & Metabolism business in North America at Johnson & Johnson, driving a $3+ billion business into a phase of dynamic growth. This experience has equipped him with a deep understanding of clinical settings for vascular diseases, physicians’ decision-making processes, and hospital procurement workflows—all of which closely align with the sales pathways for peripheral interventions.
Part II, Practical Implementation of Centralized Procurement in OphthalmologyOphthalmology is one of the pioneer pilot areas for China's centralized procurement of medical devices. In November 2023, the bid opening for the fourth national centralized procurement of high-value medical consumables was held, with selected intraocular lens products experiencing an average price reduction of 60%. Johnson & Johnson Vision's next-generation monofocal IOLs were reduced from RMB 10,000 per unit to just over RMB 1,100 per unit. In 2025, Johnson & Johnson Vision's "preloaded toric extended depth of focus intraocular lens" was approved in March and applied for inclusion in the supplementary centralized procurement list (deemed as selected) in May, with a winning price of RMB 9,290.
This indicates that Peter is already highly familiar with the volume-based procurement rules:Rapidly include new products in volume-based procurement, leverage competitive pricing to capture market share, and secure the market window ahead of competitors.。
Ophthalmology and Interventional Therapy Face Similar Business Environments: High-value medical consumables, pricing pressures from centralized procurement, and compressed profit margins following price reductions. Peter’s experience navigating ophthalmology centralized procurement—how to sustain channel profitability post-price cut, how to adjust product portfolio weighting, and how to pursue differentiated competition against domestic rivals—is precisely what BD Peripheral Intervention requires most at present.
# Peter's Core Priorities Upon Taking Office
(1) Reprioritize products
The centralized procurement landscape for peripheral interventions has become clear: conventional balloons and stents have entered a "price-for-volume" trajectory, with the key variable lying in specialty balloons. In Henan's centralized procurement, the maximum price cap for constrained balloons is approximately RMB 7,500, whereas conventional balloons have fallen to under RMB 1,000 post-procurement. Innovative categories such as drug-coated balloons and shockwave balloons currently remain among the few segments that can still sustain a premium.
Within BD's interventional pipeline,Which should be scaled up, which should be scaled back, and which require accelerated iteration., these decisions depend on the strategic framework of the global headquarters and the clinical needs of the Chinese market. When Peter managed the ophthalmology division at Johnson & Johnson, he experienced the tiered centralized procurement of intraocular lenses (IOLs), ranging from high-end multifocal to basic monofocal models. This experience in "tiered product line management" can serve as a direct reference.
(2) Adjust the Sales System
Centralized procurement has transformed the sales logic for interventional consumables. Previously, foreign manufacturers relied on brand premiums, academic promotion, and channel coverage to establish competitive barriers;Currently, tender results directly determine eligibility for hospital listing., the core competencies of the sales team have also changed—pricing analysis, bidding strategies, and supply fulfillment have now become critical.
Peter has managed global supply chain, quality, finance, and medical affairs at Johnson & Johnson, and possesses the capability to design sales organizations from a cross-functional perspective, enabling R&D, manufacturing, supply chain, sales, and compliance to keep pace with the cadence of volume-based procurement.
(3) Focus on Innovative Categories
The premium margin for specialty balloons will not persist indefinitely. Chinese manufacturers are catching up rapidly, and the coverage of centralized procurement continues to expand. Peter needs to answer one question: Before centralized procurement compresses profit margins to a new normal, can BD leverage technological iteration and clinical evidence to prolong the premium window for innovative product categories?
It depends onProduct Definition, Clinical Data, and Physician Education——And he has performed all of these in ophthalmology.
# Eye Future Insights
BD's poaching of ophthalmology talent to head its interventional division is not an isolated case.
Previously, the staffing philosophy of multinational medical device companies followed a "specialization alignment" principle: professionals with a heart valve background managed the heart valve division, while those from ophthalmology oversaw the ophthalmology division. However, with the normalization of centralized procurement, the landscape has shifted. Deep expertise in a single therapeutic area remains crucial,Cross-category operational capabilities and the ability to restore profitability in a price-reduction environment are also being assigned greater weight.。
Ophthalmology is one of the earliest sectors in China to implement centralized procurement (VBP). Both intraocular lenses (IOLs) and orthokeratology (Ortho-K) lenses have undergone significant price restructuring. Professionals from the ophthalmology sector possess firsthand experience in navigating the post-VBP landscape. For Business Development (BD), what is needed is a professional capable of reorganizing resources and reformulating strategic approaches under these new rules.
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