Fred Colen has held a number of different roles at Boston Scientific Corporation, a leading medical technology firm where he worked from 1999 to 2010. Mr. Colen first took a position as Vice President of Research and Development for Scimed Life Systems, the company’s cardiovascular division. From 2001 to 2004, Mr. Colen served as Corporate Senior Vice President, and in 2005, he accepted a promotion to Corporate Executive Vice President. In addition to these responsibilities, Mr. Colen served as Chief Technology Officer from 2001 to 2008 and was a member of the Executive Committee from 2001 to 2010. From 2006 to 2008, Fred Colen served as Executive Vice President of Operations and Technology of the Cardiac Rhythm Management Group.
In this role, he started the turn-around of this acquired business through the resolution of the existing quality and compliance issues and of the FDA warning letter in 14 months' time. He instituted a strong new quality foundation and an industry-leading new patient safety review process. He furthermore re-organized the group, appointed new leadership and created new processes for research, development, engineering, quality, compliance, manufacturing and supply management to ensure maximum efficiency.
In 2008, Mr. Colen became President of the Cardiac Rhythm Management Group. In doing so, he took full responsibility for a global business worth $2.4 billion dollars. He led efforts to boost customer confidence and improve general perceptions regarding Boston Scientific’s products, including defibrillators, implantable pacemakers, leads, and re-synchronization devices. Fred Colen also introduced leading-edge new products and launched several impactful marketing campaigns. A testament to his skills, Mr. Colen increased revenue each year by 10 percent for the U.S. group and boosted U.S. and global market shares during a time of economic downturn.
Mr. Colen successfully finalized the turn-around in three and a half years, by not only returning revenue to double-digit growth, but also by achieving optimal operational efficiency in the group. He drastically improved manufacturing performance, bringing about record-high yields and dramatically reduced scrap costs. Exceeding a free cash flow goal of $700 million, he increased global operating income to 25 percent of sales. Born in The Netherlands, Fred Colen attended Eindhoven University of Technology, where he earned his Bachelor’s degree in Electrical Engineering.