Healthcare Industry News: CIMA Labs
News Release - December 27, 2006
Medwave Names New Director, Adds Chief Financial Officer and Senior Vice President of Sales and MarketingARDEN HILLS, Minn., Dec. 27 (HSMN NewsFeed) -- Medwave Inc. (Nasdaq: MDWV ), the innovator in sensor-based, non-invasive blood pressure measuring solutions, today announced that James C. Hawley has been appointed to its Board of Directors and will serve as Chairman of the Company's audit committee. With this appointment, Medwave will again have an audit committee comprised of three independent directors.
Mr. Hawley is a seasoned executive presently with the consulting firm of Cincinnatus, Inc. He is currently serving as CEO of Diversified Graphics Incorporated. Mr. Hawley has held CFO, COO, and CEO positions, and has served on boards of directors for both corporate and non-profit organizations. His experience spans start-ups to Fortune 50 companies with companies such as MGI Pharma, Inc.; CIMA Labs INC.; Harmony Brook, Inc.; Orthomet, Inc.; Navarre Biomedical Ltd.; and 3M.
Medwave also announced that Ramon L. Burton will join the Company as Chief Financial Officer. Mr. Burton will be responsible for the overall financial management and fiscal stability of the Company and manage the day to day activities of financial reporting and internal controls.
Mr. Burton is a former Chief Financial Officer and General Counsel of public and private companies, and is an attorney at law. He was Chief Financial Officer of Sterion, Inc., a public medical products manufacturer, and was employed by TCF Industries Inc., a manufacturer of air moving equipment as its Chief Financial Officer. Mr. Burton has also served as CFO and General Counsel to Minnesota Diversified Industries, a non-profit company providing services to over 600 persons with disabilities. He has over 20 years experience in senior finance, accounting and legal roles.
Finally, Medwave announced that Rocco Morelli has joined the Company as Senior Vice President Sales and Marketing. Mr. Morelli has 18 years of sales, marketing and clinical experience in medical devices and patient monitoring. Mr. Morelli comes to Medwave from Spacelabs Healthcare where he served as Vice President of Marketing and Business Development for the Medical Solutions Group. Mr. Morelli also served as Vice President of Sales and Marketing for Smiths Medical' patient monitoring business group (BCI).
Frank Katarow, Chief Executive Officer and President, stated: "We are pleased to welcome Jim to our Board and to have Ray and Rocco on our management team. The industry experience brought by each of these individuals will enhance the way we approach and operate our business. I look forward to working with our Board and management team as we strive to build a stronger company."
Statements made in this release that are stated as expectations, plans, anticipations, prospects or future estimates or which otherwise look forward in time are considered "forward-looking statements" and involve a variety of risks and uncertainties, known and unknown, which are likely to affect the actual results. The following factors, among others, as well as factors discussed in the Company's filings with the SEC, have affected and, in the future, could affect the Company's actual results: resistance to the acceptance of new medical products, hospital budgeting cycles, the possibility of adverse or negative results or commentary from clinical researchers or other users or evaluators of the Company's products, the Company's success in creating effective distribution channels for its products, the Company's ability to scale up its manufacturing process, and delays in product development or enhancement or regulatory approval. Consequently, no forward- looking statement can be guaranteed and actual results may vary materially. MedwaveŽ is a trademark of Medwave, Inc.
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