Healthcare Industry News: ETHICON
News Release - July 20, 2006
St. Francis Medical Technologies Appoints David Clapper and Joseph Cutts to its Board of Directors
SAN FRANCISCO--(HSMN NewsFeed)--July 20, 2006--St. Francis Medical Technologies, Inc.®, the developer of the X STOP, the first FDA-approved interspinous process implant to treat Lumbar Spinal Stenosis, announced today the addition of two new members, David Clapper and Joseph Cutts, to the company's current Board of Directors. The St. Francis board has been expanded to eight members.David Clapper, currently president and chief executive officer of SurgRx, a private medical device company, brings over 25 years of experience within the healthcare industry. His previous experience includes leading Novacept, a women's surgical device company, through a period of rapid growth culminating in its sale to Cytyc Corporation in 2004 and leading Focal Inc., a biomaterials company, through its initial public offering in 1997. Dave also spent 16 years in a variety of roles within Johnson & Johnson, including vice president of sales and marketing at ETHICON and ETHICON Endo-Surgery.
Joseph Cutts, currently chief operating officer of EFI, a world leader in digital imaging and print management solutions for commercial and enterprise printing with more than $500 million in revenues, brings over 20 years of financial and leadership experience, including six years as chief financial officer at EFI, as a new member of the Board. During his tenure at EFI, he has been charged with providing both strategic direction and tactical oversight necessary to achieve business goals. This includes exploring new business ventures through acquisitions and partnerships, expanding business with existing partners and leveraging technology into new ventures and new business models. Mr. Cutts will serve as chairman of the Audit Committee.
"We are extremely pleased to have both Dave and Joe join our Board and contribute their vast experience and knowledge to our growing company," said Kevin Sidow, president and chief executive officer of St. Francis Medical Technologies, Inc. "Their extensive business background will prove to be an invaluable asset as we position St. Francis for additional growth and expansion within the medical device industry."
About St. Francis Medical Technologies
St. Francis Medical Technologies is a privately held company based in Alameda, Calif., engaged in the discovery, development, manufacturing and marketing of novel treatments for degenerative spinal disorders worldwide. In November 2005, St. Francis received FDA approval for the X STOP, the first FDA-approved interspinous process implant to treat Lumbar Spinal Stenosis (LSS), a degenerative spinal disorder that may affect over two million Americans. As a result, patients and healthcare professionals finally have a safe and effective alternative to more aggressive, riskier procedures. For more information, please visit: www.sfmt.com.
Source: St. Francis Medical Technologies
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