Healthcare Industry News: DePuy
News Release - April 5, 2007
Innovative Neurotronics Enhances its Management TeamBETHESDA, Md., April 5 (HSMN NewsFeed) -- Innovative Neurotronics, Inc. (IN, Inc.), a wholly-owned subsidiary of Hanger Orthopedic Group, Inc., today announced four additions to its management and manufacturing teams -- a director of manufacturing operations, director of finance, director of international business development, and a quality assurance engineer. IN, Inc. is expanding its scope of operations to be consistent with the demand and potential for the first product in its line of neuromuscular technologies, the WalkAideŽ System.
"Our acceptance by the market is a clear indication of the growing interest in neuromuscular technologies," IN, Inc. President Jeff Martin said. "With the successful launch of the WalkAide, we are at the point in our evolution that additional expertise is justified. Our new executives and engineers bring the experience and vision necessary to advance the company and its product offerings in the U.S. and abroad."
The new members are:
Michael A. Ross -- As the director of manufacturing operations, Ross will be responsible for the manufacturing and production activities of IN, Inc.'s product offerings, including the WalkAide System. During his 34 years experience in manufacturing and engineering, Ross served as vice president of engineering / operations for $1-billion Roper Industries, $250-million National Instruments, and $24-million Xplore / Aural Technologies. He brings worldwide supply chain management experience, multi-plant manufacturing and budgeting experience with domestic and overseas operations, and 10 years P&L responsibility. Ross earned his MBA and Master of Science in mechanical / electrical engineering from the University of Texas and his Bachelor of Science in industrial engineering from Penn State University.
Dan Ruppa -- As the director of finance, Ruppa supervises the general accounting area and is responsible for operations analysis and control, and the preparation of financial statements and reports. Ruppa brings 31 years financial systems development, finance management, and business experience. He has managed cost accounting and financial reporting for a $1-billion site at Solectron and a $500-million site at Texas Instruments. Ruppa graduated summa cum laude with his bachelor's degree from St. Edwards University in Austin, Texas.
Richard Eliakim -- Eliakim will serve as IN, Inc.'s director of international business development, responsible for the development and implementation of international sales strategies. He brings extensive international sales, marketing, and business experience in the healthcare, medical device, neuroscience, and pharmaceutical arenas. Eliakim successfully developed the strategy for certain implants and intensive care product lines in China, Brazil, Chile, Poland, Turkey, and Russia. He is fluent in Spanish, French, and English and has a working knowledge of Portuguese and Italian.
Sidney Bennett -- Bennett joins IN, Inc. as its quality assurance engineer. He will coordinate and perform quality assurance and product development activities according to medical device regulations. He will also manage incoming inspection and product release activities. As an engineer with a master's degree in biomedical engineering and six years progressive experience in manufacturing and quality engineering environments, Bennett's background includes CAD design, FEA analysis, and project management for multimillion dollar product lines at DePuy Orthopaedics and Encore Medical Corporation. Sidney received both his master's degree and his Bachelor of Science degree from the California Polytechnic State University in San Luis Obispo.
About Innovative Neurotronics, Inc.: Specializing in the field of functional electrical stimulation, Innovative Neurotronics, Inc. identifies emerging Myo-Orthotics Technologies(TM) developed at research centers and universities throughout the world that use neuromuscular stimulation to improve the functionality of an impaired limb. The company's first product, the WalkAideŽ System, earned Frost & Sullivan's prestigious 2006 U.S. Orthopedics Product of the Year Award for being particularly innovative and superior to other offerings in this sector. Innovative Neurotronics, Inc. is a wholly owned subsidiary of Hanger Orthopedic Group, Inc. (NYSE: HGR ), the world's largest provider of orthotic and prosthetic (O&P) patient care. Headquartered in Bethesda, Maryland, Hanger owns and operates 618 patient care centers in 46 states including the District of Columbia, with 3,471 employees including 1,034 practitioners (as of 12/31/06). For more information on Innovative Neurotronics, Inc, visit http://www.walkaide.com. For more information on Hanger, visit http://www.hanger.com.
Certain statements included in this press release are forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Please refer to the Company's SEC filings for factors that could cause actual results to differ materially from the Company's expectations.
Source: Innovative Neurotronics
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