Healthcare Industry News: cryoablation
News Release - August 6, 2007
ATS Promotes Michael Kramer to CFO RoleTrack Record At ATS Includes Successful Integration Of Acquisitions & Expansion Of Financial Infrastructure
MINNEAPOLIS, Aug. 6 (HSMN NewsFeed) -- ATS Medical, Inc. (Nasdaq: ATSI ), manufacturer and marketer of state-of-the-art cardiac surgery products and services, today announced that its Board of Directors has formally appointed Michael Kramer to the position of Chief Financial Officer. Mr. Kramer had served as the Company's Acting Chief Financial Officer since February 2007.
"Mike has been a positive, driving force on our executive management team since we engaged him as a financial consultant in early 2006," said Michael Dale, chairman and chief executive officer. "Since that time, we have undertaken a number of dynamic and complicated financial transactions, including acquisitions and strategic capital raises, and Mike has played an instrumental role in the Company's ability to execute successfully. In addition, he has also helped the Company to seamlessly transition our financial management and reporting infrastructure into one that can support a growing direct international sales presence and an increased number of product lines and revenue streams. We believe he brings a unique and energetic perspective to our team and that he will be an influential leader as we continue to grow our revenues, leverage our financial infrastructure, and ultimately drive toward profitability. We look forward to his future contributions."
Since September 2006 and until his appointment as Acting Chief Financial Officer, Mr. Kramer served as the Company's Senior Director of Finance. Before this the Company engaged Mr. Kramer as an independent financial consultant. From 2005 to 2006, Mr. Kramer was the Controller of CABG Medical, Inc., a cardiovascular device manufacturer. Prior to this, Mr. Kramer served as a corporate finance manager at Ecolab, Inc., a developer and marketer of products and services to the hospital, foodservice, healthcare and industrial markets. Mr. Kramer began his career in finance at Ernst & Young LLP, a global professional services firm. Mr. Kramer has a Bachelor of Accountancy from the University of North Dakota.
About ATS Medical
ATS Medical, Inc. provides innovative products and services focused on cardiac surgery. The company, global in scope, is headquartered in Minneapolis, Minnesota. More than 135,000 ATS Open Pivot® Heart Valves, which utilize a unique pivot design resulting in exceptional performance and low risk profile, have been implanted in patients worldwide. The ATS 3F® brand encompasses multiple tissue heart valve product offerings at varying steps from market introductions to clinical trials to development projects that incorporate less invasive valve replacement technology. ATS Medical's focus on serving the cardiac surgery community is further strengthened by offerings that include ATS Simulus(TM) annuloplasty products for heart valve repair, SurgiFrost® and FrostByte(TM) products for surgical cryoablation of cardiac arrhythmias, and RTI-Cardiovascular for allograft tissue services. The ATS Medical web site is http://www.atsmedical.com.
This Press Release contains forward-looking statements that may include statements regarding intent, belief or current expectations of the Company and its management. Actual results could differ materially from those projected in the forward looking statements as a result of a number of important factors, including the results of clinical trials, the timing of regulatory approvals, the integration of 3F Therapeutics and the surgical cryoablation business of CryoCath Technologies, Inc., regulatory actions, competition, pricing pressures, supplier actions and management of growth. For a discussion of these and other risks and uncertainties that could affect the Company's activities and results, please refer to the Company's filings with the Securities and Exchange Commission including its Form 10-K for the year ended December 31, 2006.
Source: ATS Medical
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