8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 5, 2016

Nuvectra Corporation

(Exact Name of Registrant as Specified in its Charter)

Delaware	001-37525	30-0513847
(State or Other Jurisdiction	(Commission	(I.R.S. Employer
of Incorporation)	File Number)	Identification Number)

5830 Granite Parkway, Suite 1100,

Plano, Texas 75024

(Address of principal executive offices, including zip code)

(972) 668-4107

(Registrant’s telephone number, including area code)

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Appointment of Certain Officers

On April 5, 2016, the Board changed the executive officers of Nuvectra Corporation (the “Company” or “Nuvectra”) and the following individuals were appointed to serve as executive officers of Nuvectra and continue to serve in such capacity until the earlier election and qualification of their respective successors or until their earlier resignation or removal: 

Name	Position
Scott F. Drees	Chief Executive Officer
Paul Hanchin	President
Walter Z. Berger	Chief Financial Officer
Norbert Kaula	Executive Vice President of Research & Development
Kathy J. Fahey	Vice President of Quality, Regulatory, and Clinical Affairs

Paul Hanchin, age 55, joined Nuvectra effective as of April 5, 2016 as President of Nuvectra Corporation. Mr. Hanchin is responsible for the Company’s global customer-facing activities for its spinal cord stimulation business and will also be responsible for the strategic planning and execution of the Company’s future products and business lines. Mr. Hanchin has more than 30 years of medical device experience and has held various executive leadership positions with an emphasis on global sales and marketing functions. Prior to joining Nuvectra, Mr. Hanchin most recently spent time as Executive Vice President at Flowonix Medical, Inc., and also served in sales leadership positions at Boston Scientific, Inc., Cyberonics Inc. and Advanced Neuromodulation Systems, Inc., which was later acquired by St. Jude Medical, Inc. Mr. Hanchin has a BBA from Baldwin Wallace University.

Norbert Kaula, age 59, joined Nuvectra as part of its predecessor entity, QiG Group, LLC in 2009 as a consultant, leading software and pre-clinical research and development. In his new and expanded role, effective as of April 5, 2016, Dr. Kaula will have responsibility for all engineering and product design related functions, including next generation neurostimulation technologies. He has more than 30 years of neuroscience experience leveraging neurophysiology and neural engineering towards medical device development. Prior to Nuvectra, he held the position of Co-Director of Neuro-Urology and Biomedical Engineering at the Department of Urology, University of Colorado Health Sciences Center. Before that, Dr. Kaula was appointed Associate Director of the Urology Research Laboratory at the School of Medicine, University of California at San Francisco. He is the author of multiple publications and holds more than 65 issued patents. Dr. Kaula holds a Ph.D. in Computer Sciences from the University of Denver, Colorado, and degrees in Mechatronic and Biomedical Engineering from the College of Ulm, Germany.

In connection with the above executive officer changes, Mr. Thomas K. Hickman was appointed to the new position of Executive Vice President of Worldwide Marketing & Strategic Development, reporting to Mr. Hanchin, with responsibility for expanding the Company’s global presence and future neurostimulation business units.

Biographical information for Scott Drees and Walter Berger can be found in Nuvectra’s Information Statement, dated March 2, 2016 (the “Information Statement”) under the section entitled “Management – Our Officers,” which biographical information is incorporated by reference into this Item 5.02. Biographical information for Kathy J. Fahey can be found on that certain report filed on Form 8-K on March 18, 2016 under Item 5.02.

Information regarding the compensation and employment arrangements of Scott Drees and Walter Berger is also described in the Information Statement under the heading “Executive Compensation,” which is incorporated by reference into this Item 5.02.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

99.1 Press release of Nuvectra Corporation dated on April 7, 2016. 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

April 7, 2016	NUVECTRA CORPORATION
	By:	/s/ Melissa G. Beare
	Name:	Melissa G. Beare
	Title:	General Counsel and Corporate Secretary

EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE

Company Contacts:	Investor Contacts:
Nuvectra Corporation	The Ruth Group
Walter Berger, Chief Financial Officer	Nick Laudico
(972) 668-4106	(646) 536-7030
wberger@nuvectramed.com	nlaudico@theruthgroup.com
Jennifer Armstrong, Media Relations	Zack Zubow
(214) 618-4823	(646) 536-7020
jarmstrong@nuvectramed.com	zkubow@theruthgroup.com

NUVECTRA CORPORATION APPOINTS PAUL HANCHIN AS COMPANY PRESIDENT

Nuvectra Announces Changes to Executive Management Team

Plano, Texas, April 7, 2016 – Nuvectra Corporation (NASDAQ: NVTR), a neurostimulation medical device company, today announced the appointment of Paul Hanchin in the newly created role of President, effective as of April 5, 2016. This new position will be responsible for global customer-facing activities for Nuvectra’s Spinal Cord Stimulation (SCS) business. Mr. Hanchin will also be responsible for strategic planning and execution of the company’s future Sacral Nerve Stimulation (SNS) and Deep Brain Stimulation (DBS) businesses. Scott Drees will remain as the company’s Chief Executive Officer.

“Mr. Hanchin’s proven track record and deep knowledge base in the neurostimulation industry and chronic pain market make him uniquely positioned to lead Nuvectra’s commercial launch of our Algovita™ Spinal Cord Stimulation system in the United States and accelerate our overall growth,” said Scott Drees, Chief Executive Officer.

Mr. Hanchin comes to Nuvectra with thirty years of experience in the medical device arena, including executive leadership positions at small and large, high-growth companies.Prior to Nuvectra, Mr. Hanchin was Executive Vice President at Flowonix Medical, Inc., where he had primary responsibilities for global sales and marketing functions. Mr. Hanchin has also served in a wide variety of general management, sales, and marketing positions at Boston Scientific, Inc., Cyberonics Inc. and Advanced Neuromodulation Systems, Inc., which was acquired by St. Jude Medical, Inc.

Tom Hickman will report to Mr. Hanchin and serve as Executive Vice President, Worldwide Marketing & Strategic Development, with expanded responsibilities for future neurostimulation business units. Mr. Hickman and Mr. Hanchin will work together to execute the launch of Algovita^™ in the United States and expand the company’s O.U.S. presence.

Nuvectra also announced the promotion of Norbert Kaula, Ph.D. to the position of Executive Vice President, R&D. Dr. Kaula will have responsibility for all engineering and product design related functions, including next-generation neurostimulation technologies. Dr. Kaula has over thirty years of neuroscience experience and holds an M.S. degree in Biomedical Engineering (College of Ulm, Germany) and a Ph.D. in Computer Sciences (University of Denver, Colorado). He has also served in a wide variety of neuro-urology surgical instruction and research positions at the University of Colorado Health Sciences Center, Denver and the University of California San Francisco (UCSF).

“The board is excited about Paul Hanchin joining Nuvectra,” said Joe Miller, Chairman of the Board. “Mr. Hanchin brings additional industry knowledge and leadership depth to Nuvectra’s experienced Executive Management Team and further strengthens the company’s ability to meet its goals and objectives and deliver shareholder value.”

For more information about Nuvectra, its management team and board of directors, and the Algovita Spinal Cord Stimulation system, visit www.nuvectramed.com.

About Nuvectra Corporation
Nuvectra™ is a neurostimulation company committed to helping physicians improve the lives of people with chronic neurological conditions. The Algovita® Spinal Cord Stimulation (SCS) System is our first commercial offering and is CE marked and FDA approved for the treatment of chronic pain of the trunk and/or limbs. Our innovative technology platform also has capabilities under development to support other neurological indications such as sacral nerve stimulation (SNS), and deep brain stimulation (DBS). In addition, our NeuroNexus subsidiary designs, manufactures and markets leading-edge neural-interface technologies for the neuroscience clinical research market. Visit the Nuvectra website at www.nuvectramed.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contains "forward-looking statements," including statements we make regarding the outlook for Nuvectra as an independent publicly-traded company. Forward-looking statements are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions, and therefore they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and may be outside of our control. Our actual performance may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Any forward-looking statement made by us is based only on information currently available to us and speaks only as of the date on which it is made. Important factors that could cause our actual results to differ materially from those indicated in the forward-looking statements include: (i) the timing of the commercial launch of Algovita in the United States; (ii) our ability to successfully commercialize Algovita and develop and commercialize enhancements to Algovita; (iii) the outcome of our development plans for our neurostimulation technology platform, including our ability to identify additional indications or conditions for which we may develop neurostimulation medical devices or therapies and seek regulatory approval thereof; (iv) our ability to identify business development and growth opportunities and to successfully execute on our strategy, including our ability to seek and develop strategic partnerships with third parties to, among other things, fund clinical and development costs for new product offerings; (v) the performance by our development partners, including Aleva Neurotherapeutics, S.A., of their obligations under their agreements with us; (vi) the scope of protection for our intellectual property rights covering Algovita and other products using our neurostimulation technology platform, along with any product enhancements; (vii) our ability to successfully build an effective commercial infrastructure and sales force in the United States; (viii) our compliance with all regulatory and legal requirements regarding implantable medical devices and interactions with healthcare professionals; and (ix) any product recalls or the receipt of any warning letters from any governmental or regulatory agency. Please see the sections entitled “Cautionary Statement Concerning Forward-Looking Statements" and “Risk Factors” in Nuvectra’s Registration Statement on Form 10 for a description of these and other risks and uncertainties. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.