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Medical device maker Orthofix International NV said Tuesday it promoted Robert Vaters to chief operating officer.

Vaters had been chief financial officer since September 2008, when he joined the company.

Orthofix appointed Brian McCollum as its interim CFO. He is the company's senior vice president of finance.

The Dutch company did not have a chief operating officer before Vaters' promotion.

Shares of Orthofix rose 87 cents, or 2.8 percent, to $31.49 in afternoon trading.

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