Healthcare Industry News: Peripheral Arterial Disease
News Release - July 20, 2006
CryoCath Announces Management Change
MONTREAL, July 20 (HSMN NewsFeed) - CryoCath Technologies Inc. (TSX: CYT ), the global leader in cryotherapy products to treat cardiovascular disease, today announced that Steven G. Arless has stepped down as President and Chief Executive Officer and has resigned as a director of the Company to pursue other interests. Mr. Arless has been replaced by Henri Vienneau, Chairman of the Board of Directors of the Company, on an interim basis. The Company is in the process of conducting a search for a permanent replacement for Mr. Arless. With seven years of experience as a CryoCath director, including the past three as Chairman, Mr. Vienneau is well-versed in the Company's strategic initiatives and the industry in which it operates."CryoCath has accomplished a lot since its inception and we are grateful to Steve for his years of dedicated service to the Company; we wish him well," said Mr. Vienneau. "CryoCath continues to pursue many opportunities and we are enthusiastic about the Company's prospects going forward."
Mr. Vienneau served as President and General Manager of the Canadian division of Mallinckrodt Medical Inc. for over 15 years, with other various positions held including responsibility for chemical and medical sales, marketing and manufacturing in Canada as well as in certain international markets. Other professional experience includes serving on the Board and acting as Chairman from 1989-1995 of MEDEC (association of Medical Device Companies of Canada) as well as providing consulting services for other medical devices and biotech companies.
About CryoCath
CryoCath -www.cryocath.com- is a medical technology company that leads the world in cryotherapy products to treat cardiovascular disease. With a priority focus on providing physicians with a complete solution of catheter and surgical products to treat cardiac arrhythmias, CryoCath has multiple products approved in the U.S., across Europe and several ROW countries. The Company is developing additional products to expand its pipeline of products to treat cardiac arrhythmias and has development projects for the treatment of cardiac ischemia (angina) and Peripheral Arterial Disease (PAD).
This press release includes "forward-looking statements" that are subject to risks and uncertainties, including with respect to the timing of regulatory trials and their outcome. For information identifying legislative or regulatory, economic, climatic, currency, technological, competitive and other important factors that could cause actual results to differ materially from those anticipated in the forward looking statements, see CryoCath's annual report available at www.sedar.com under the heading Risks and Uncertainties in the Management's Discussion and Analysis section.
Source: CryoCath Technologies
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