Healthcare Industry News: obstructive sleep apnea
News Release - September 29, 2006
Restore Medical Names Vice President of SalesMedical Device Veteran, Craig Palmer, To Lead Sales Force
ST. PAUL, Minn.--(HSMN NewsFeed)--Restore Medical (NASDAQ:REST ), developer of the innovative Pillar® palatal implant system, a simple, minimally-invasive treatment for mild to moderate obstructive sleep apnea (OSA) and socially disruptive snoring, today announced the appointment of Craig Palmer as vice president of sales. In this new position, Mr. Palmer will focus on building Restore's U.S. sales organization and increasing adoption of the Pillar Procedure within the physician community.
Mr. Palmer most recently served as vice president of sales at EV3, a Minneapolis-based medical device company focused on the minimally-invasive treatment of vascular diseases and disorders. At EV3, he led the expansion of the sales force from 28 to 75 people, resulting in significant revenue growth. Mr. Palmer previously served as vice president of sales for both Urologix and Image Guided Neurologics, and held a variety of sales, sales leadership and marketing positions with the SciMed business unit of Boston Scientific, including serving as vice president of sales.
"Craig is an industry veteran with a proven track record of driving the sales of rapidly growing medical device companies," said Bob Paulson, president and chief executive officer of Restore Medical. "Craig's breadth of sales leadership and management experience honed over more than 30 years in the medical device industry, combined with his passion for building effective sales organizations in developing markets is important to our management team as we strive to accelerate the growth and expansion of our business in the U.S."
About Restore Medical and the Pillar Procedure
Restore Medical develops, manufactures and markets innovative medical devices to treat sleep-disordered breathing. The Company's proprietary Pillar® Palatal Implant System is the only implantable palatal device to treat snoring and mild-to-moderate obstructive sleep apnea to be approved by the U.S. Food and Drug Administration and Health Canada, and to have received the CE Mark for sale in the European Union. The Pillar Palatal Implant System is sold throughout the U.S. and Canada, and in countries throughout Asia Pacific, Europe, South America and the Middle East.
For more information about Restore Medical, the Pillar Palatal Implant System, and physicians who offer the Pillar Procedure, visit the Company's website at www.restoremedical.com or www.pillarprocedure.com.
Except for historical information, this press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements included in this press release that address activities, events or developments that Restore Medical expects, believes or anticipates will or may occur in the future, are forward-looking statements. All forward-looking statements are based on assumptions made by Restore Medical's management based on its experience and perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the Company's control, and which could cause actual results or events to differ materially from those expressed in such forward-looking statements. Factors that could cause or contribute to such differences are discussed in documents filed by Restore Medical with the Securities and Exchange Commission from time to time, including its registration statement on Form S-1 filed on May 12, 2006 (Reg. No. 333-132368) and its Form 10-Q for the quarter ended June 30, 2006. Forward-looking statements represent the judgment of the Company's management as of the date of this release, and Restore Medical disclaims any intent or obligation to update any forward-looking statements.
Source: Restore Medical
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