Healthcare Industry News: Zimmer
News Release - January 8, 2007
FoxHollow Announces Marketing and Sales Management Transitions; Names Experienced Healthcare Industry Consultant as Vice President, Global MarketingREDWOOD CITY, Calif., Jan. 8 (HSMN NewsFeed) -- FoxHollow Technologies (Nasdaq: FOXH ), which manufactures and markets minimally invasive devices for the treatment of peripheral artery disease (PAD), today announced changes within its marketing and sales organizations.
The company said that Michael P. Ennen, M.D. has joined as vice president, global marketing. Ennen spent the past five years in the healthcare practice of the consulting firm of McKinsey & Company, where he provided strategic and marketing counsel for medical device, pharmaceutical and biotechnology companies. Before that, Ennen was associated with the investment banking firm of Goldman Sachs and the medical development office of Stanford University. He holds a B.S. in Genetics and Ecology from the University of Minnesota and a Doctor of Medicine from the Stanford University School of Medicine.
"We are delighted to have someone with Mike's deep medical background and industry knowledge joining FoxHollow," noted Duke Rohlen, president of strategic operations. "He brings a broad range of experience working with healthcare companies to develop and implement commercialization and product development strategies. Mike is entering this position with a deep understanding of the PAD market and an appreciation of the company's potential for continued growth," Rohlen continued.
In addition, FoxHollow announced that Richard Zimmer, senior vice president of sales, will be leaving the company at the end of the first quarter of 2007. The company has initiated a search for his replacement. Both the company's sales and marketing organizations will now report to Rohlen.
"Richard will be missed by the entire community of FoxHollow employees and physicians," commented John Simpson, Ph.D., M.D., the company's chief executive officer. "His dedication to his team, customers and patients suffering from PAD is unrivaled. He deserves the utmost respect and appreciation for his accomplishments during more than three years with the company. We wish him the very best in his future endeavors."
About FoxHollow Technologies
FoxHollow Technologies, Inc., develops and markets minimally invasive devices for the removal of plaque and thrombus for the treatment of peripheral artery disease (PAD). PAD results from plaque that accumulates in the arteries and blocks blood flow in the legs. These blockages can result in severe pain for patients and very limited physical mobility. The company's SilverHawk Plaque Excision System is a minimally invasive method of removing the obstructive plaque and restoring blood flow to the legs and feet. The company's Rinspirator thrombectomy system removes thrombus, or blood clots, from occluded arteries in patients suffering from PAD or coronary artery disease (CAD). For more information, please visit our website at http://www.foxhollowtech.com.
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Statements in this press release regarding FoxHollow's businesses that are not historical fasts may be "forward-looking statements" that involve risks and uncertainties. Specifically, statements regarding the company's growth strategies and potential are forward-looking statements involving risks and uncertainties. Forward-looking statements are base on management's current, preliminary expectations, and are subject to risks and uncertainties that could cause actual results to differ from the results predicted. These risks and uncertainties are included under the caption, "Factors Affecting Future Operating Results," in "Management's Discussion and Analysis of Financial Condition and Results of Operations," in our most recent quarterly report on Form 10-Q for the quarter ended September 30, 2006, filed with the SEC on November 9, 2006, and available on our investor relations website at http://www.foxhollowtech.com and on the SEC's website at http://www.sec.gov. Undue reliance should not be placed on forward-looking statements, which speak only as of the date they are made. FoxHollow undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date they were made, or to reflect the occurrence of unanticipated events.
Source: FoxHollow Technologies
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