Healthcare Industry News: vascular access

News Release - February 22, 2006

Spectranetics Hires Vice President of U.S. Sales

COLORADO SPRINGS, Colo., Feb. 22 (HSMN NewsFeed) -- Spectranetics Corporation (Nasdaq: SPNC ) today announced the hiring of Stephen D. Okland, Jr., 42, as vice president of sales. Mr. Okland will have responsibility for the United States field sales organization and will report directly to Will McGuire, chief operating officer.

Mr. Okland brings to Spectranetics 18 years of experience within the medical device industry, where he has held several sales, marketing and senior management positions. During the last three years, Mr. Okland was vice president of sales and then chief operating officer at Vasca, Inc., which marketed a subcutaneous vascular access device to a diverse customer group, including vascular surgeons, interventional radiologists, interventional nephrologists, nephrologists, as well as dialysis unit nurses, nurse directors and nurse educators. His responsibilities included sales, marketing, research and development, and operations for this early stage company. From April 1991 to May 2003, Mr. Okland held various positions of increasing responsibility at Boston Scientific Corporation, most recently as director of sales and group marketing manager in the urology division, where he led the launch of several strategic new products while also leading a project team assigned to implement the split of a 110-person sales organization. He also was national director of sales for a urology-based domestic field sales organization, which grew in a three-year period from 45 sales representatives to nearly 100 sales representatives and managers, while sales tripled to more than $100 million, making it the fastest growing division within Boston Scientific. His responsibilities also included physician-to-physician training, group purchasing organizations and strategic new business due diligence. Mr. Okland also held various marketing, field sales training and sales positions during his tenure at Boston Scientific. Prior to joining Boston Scientific, he was employed by Johnson & Johnson Medical, Inc. for three years, where he held sales and sales training positions.

Mr. Okland's education includes a Bachelor of Science degree from the University of Wisconsin, with a double major in finance and marketing. He also received a Masters of Business Administration degree from Texas Christian University.

John G. Schulte, president and chief executive officer, stated, "I am extremely pleased with the addition of Steve Okland to the Spectranetics management team. His success with leading companies and extensive experience in high growth businesses provides the perfect background to lead the continued expansion of our field sales organization and establish key sales training and physician training initiatives."

About Spectranetics

Spectranetics is a medical device company that develops, manufactures and markets single-use medical devices used in minimally invasive surgical procedures within the cardiovascular system in conjunction with its proprietary excimer laser system. Its CVX-300� excimer laser is the only system approved by the FDA for multiple cardiovascular procedures, including coronary atherectomy, and the removal of problematic pacemaker and defibrillator leads. Nearly all of our FDA-approved and investigational applications have received Communautes Europeennes (CE) mark registration for marketing within Europe. In April 2004, the Company obtained 510(k) clearance from the FDA for the laser-based treatment of patients suffering from total occlusions (blockages) in their leg arteries that are not crossable with a guidewire.

Spectranetics, CVX-300 and CLiRpath are registered trademarks of The Spectranetics Corporation.

Safe Harbor Statement

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements are based on current assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties may include market acceptance of excimer laser atherectomy technology, increasing price and product competition, increased pressure on expense levels resulting from expanded sales, marketing, product development and clinical activities, uncertain success of the Company's strategic direction, dependence on new product development, intellectual property claims of third parties, availability of inventory from suppliers, the receipt of FDA approval to market new products or applications and the timeliness of any approvals, market acceptance of new products or applications, product defects, ability to manufacture sufficient volumes to fulfill customer demand, availability of vendor-sourced components at reasonable prices, and price volatility due to the initiation or cessation of coverage, or changes in ratings, by securities analysts. For a further list and description of such risks and uncertainties that could cause the actual results, performance or achievements of the Company to be materially different from any anticipated results, performance or achievements, please see the Company's previously filed SEC reports. Spectranetics disclaims any intention or obligation to update or revise any financial projections or forward-looking statements, whether as a result of new information, future events or otherwise.

Source: Spectranetics

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