Healthcare Industry News: Sofamor Danek
News Release - April 4, 2006
Spine Wave Further Strengthens Management TeamAnnounces Vice President of Sales
SHELTON, Conn.--(HSMN NewsFeed)--April 4, 2006--Spine Wave announced today the appointment of Nick Lake as Vice President, Sales. Mr. Lake brings 25 years of successful sales and sales management experience. He is charged with establishing the Company's US distribution and associated infrastructure as the Company prepares to introduce its first commercial product into the U.S. market. The company hopes to receive FDA 510(k) clearance on the StaXx(TM) XD System later this year.
"Nick possesses a rare combination of personal attributes that allow him to be universally liked and respected by peers, subordinates and customers alike," said Mark LoGuidice, Chairman and CEO of Spine Wave. "Nick is known for his professionalism, integrity, work ethic, and most importantly, his ability to consistently deliver results. I have known Nick for over 20 years, having worked closely with him at both United States Surgical Corporation and Sofamor Danek Group. I am very confident that he will develop and lead a world class sales organization at Spine Wave."
Mr. Lake was most recently US President of Medtronic Neurologic Technologies where he was one of the founding executives. He was charged with the task of establishing a new sales organization by integrating the sales group associated with the Midas Rex, PS Medical, and TiMesh technologies. Prior to joining Medtronic Neurologic Technologies, Mr. Lake was an Area Vice President of Sales for both Sofamor Danek and United States Surgical Corporation.
"When I was approached by Mark, I was very impressed with the Company's portfolio of products, outstanding investor syndicate, and the management team that had been assembled," said Mr. Lake. "I am excited to join Spine Wave and I am eager to build the US distribution."
Commenting on the overall management team, Mr. LoGuidice said "We continue to attract top talent to further strengthen our management team. The addition of Nick is one of the final pieces needed to position Spine Wave for the growth that we and our investors expect."
Spine Wave has aggressively strengthened its management team in the last 6 months in preparation for the Company's first general market release and the further advancement of their clinical programs. Anthony James and Peter Carlyle both joined Spine Wave in September 2005 as VP of R&D, Fracture & Fusion, and VP of Clinical Affairs, respectively. Mr. James joins Spine Wave after an exceptional 18 year career at Smith & Nephew where he was most recently VP of R&D Trauma, and was responsible for products generating over $400 million in annual worldwide sales. Mr. Carlyle brings 20 years of successful clinical experience including service as VP of Clinical Affairs for Edwards Lifesciences and Director of Clinical Affairs at Medtronic AVE.
"It's a very strong team of people managing a product portfolio with huge potential," said Mr. LoGuidice. "We are expecting 2006 to be a very exciting year for us."
About Spine Wave:
In January, Spine Wave closed a series C financing and raised an additional $36.5 million, bringing the total funds raised to date to $90 million. The Company is focused on the development and marketing of clinical solutions for three of the largest and fastest growing spinal market segments: nuclear replacement and augmentation, vertebral compression fracture repair and spinal fusion. The company's product portfolio includes the NuCore(TM) Injectable Nucleus, the StaXx(TM) FX Fracture Repair System, the StaXx(TM) XD Expandable Device, and several additional products in development. For more information, visit Spine Wave's website at www.spinewave.com.
Source: Spine Wave
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