Healthcare Industry News: Abbott Vascular
News Release - January 23, 2007
Theragenics(R) Announces Appointment of Chief Medical DirectorDr. Peter J. Fitzgerald to Advise on Product Development Activities, Concentrating in Cardiovascular Opportunities
BUFORD, Ga.--(HSMN NewsFeed)--Theragenics Corporation® (NYSE: TGX ), a medical device company serving the cancer treatment and surgical products markets, today announced it has executed a consulting agreement with Dr. Peter J. Fitzgerald to serve as its Chief Medical Director. Dr. Fitzgerald will advise the Company on research and product development, concentrating on cardiovascular and other opportunities within the Company's surgical products segment. Dr. Fitzgerald is well known throughout the cardiovascular industry. He is currently the Director of the Center for Cardiovascular Technology and Director of the Cardiovascular Core Analysis Laboratory at Stanford University Medical School. He is an Interventional Cardiologist and has a Ph.D. in engineering. He has led or participated in over 95 clinical trials, published over 300 manuscripts/chapters, and lectures worldwide.
Dr. Fitzgerald has also been the principal/founder of eight medical device companies. He serves on several boards of directors and has advised dozens of medical device start-ups as well as multinational healthcare companies in the design and development of new diagnostic and therapeutic devices in the cardiovascular area. Some of the companies he has advised include Abbott Vascular Devices, Boston Scientific, Cordis Corporation, Medtronic, St. Jude Medical, EV3 and Volcano Corporation.
Commenting on the consulting agreement with Dr. Fitzgerald, M. Christine Jacobs, Chief Executive Officer and President, stated, "We are even more excited about the future prospects of our Galt and CP Medical operations with the addition of Peter to our team. His extensive medical training, successful experience in commercialization of product development, and unparalleled network in these areas can be a great benefit to our business. He is a unique individual with a broad set of impressive credentials."
Dr. Fitzgerald stated, "I have worked with the Theragenics team on and off for seven years. They have the talent and resources to create exciting pipelines. The addition of Galt and CP Medical enhances Theragenics' long-term potential in interventional cardiology and interventional radiology, the fields with which I am most familiar. I am looking forward to working with them in their efforts to identify, develop and expand their capabilities and product offerings in these exciting markets and to enhance the care of patients with vascular disease."
Ms. Jacobs concluded, "We are thrilled to have Peter join us as we leverage our capabilities in interventional cardiology and interventional radiology at Galt and CP Medical. Galt currently operates in these sizeable and potentially lucrative industries. CP Medical has capabilities that can complement Galt's potential, as well as its own opportunities in wound closure."
Theragenics Corporation (NYSE: TGX ) operates two business segments: its brachytherapy seed business and its surgical products business. The brachytherapy business manufactures and markets its premiere product, the palladium-103 TheraSeed® device and I-Seed, an iodine-125 based device, which are used primarily in the minimally invasive treatment of localized prostate cancer. Its surgical products business manufactures and distributes wound closure, needles and other surgical products used in the urology, veterinary, orthopedic and other markets through its CP Medical subsidiary, and disposable medical devices used for vascular access through its Galt Medical Corp. subsidiary. For additional information, call Theragenics' Investor Relations Department at (800) 998-8479 or visit www.theragenics.com.
This release contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, the accuracy of which is necessarily subject to risks and uncertainties, including, without limitation, statements regarding the capabilities and opportunities of Galt Medical Corp. and CP Medical Corp. in the interventional cardiology and interventional radiology markets, the size and opportunities within the interventional cardiology and interventional radiology markets, the ability to identify, develop and expand Galt's and CP Medical's capabilities and product offerings in these markets, and the future prospects of Galt and CP Medical generally. Actual results may differ materially due to a variety of factors, including, among other things, uncertainties related to product development, changes in market opportunities, capitalization on opportunities for growth within the Galt and CP Medical business plans, ability to recognize value from areas of shared expertise, risks and uncertainties related to competition within the medical device industry, development and growth of new applications within the markets for vascular access, wound closure, and more broadly, medical devices, competition from other companies within the vascular access, wound closure and medical device markets, competition from other methods of diagnosis and therapy, new product development cycles, effectiveness and execution of marketing and sales programs, changes in costs of materials used in production processes, continued acceptance of the products by the market, introduction and/or availability of competitive products by others, potential changes in third-party (including CMS) reimbursement, physician training, and other factors set forth from time to time in the Company's Securities and Exchange Commission filings.
All forward looking statements and cautionary statements included in this document are made as of the date hereby based on information available to the Company as of the date hereof, and the Company assumes no obligation to update any forward looking statement or cautionary statement.
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