Healthcare Industry News: AngioDynamics
News Release - October 11, 2007
AngioDynamics Appoints New Corporate ControllerSeasoned Executive Brings 18 Years of Global Financial Management and Accounting Expertise to Company
QUEENSBURY, N.Y.--(HSMN NewsFeed)--AngioDynamics (NASDAQ:ANGO ), a leading provider of innovative medical devices used by interventional radiologists and surgeons for the minimally invasive treatment of peripheral vascular disease and cancer, today announced the appointment of K. Wayne McDougall, 43, to the role of vice president and corporate controller. Mr. McDougall will report to Joseph Gersuk, executive vice president and CFO of AngioDynamics.
"As a growing organization with worldwide operations, we need a corporate controller with a vast array of global financial expertise," said Mr. Gersuk. "We believe that Wayne's 18 years of experience in a variety of financial management and accounting positions have prepared him to assume the many functions that our corporate controller will need to supervise. Wayne spent 10 years in roles of escalating responsibility at MapInfo Corporation. During his tenure there, he garnered a skill set that allowed him to manage the treasury, financial planning, audit, tax, information technology and Securities and Exchange Commission reporting requirements, among a host of other responsibilities. With his excellent track record and extensive experience, we believe Wayne will be immediately additive to our organization. We look forward to his contributions."
Prior to joining AngioDynamics, Mr. McDougall spent 10 years in the finance organization of MapInfo Corporation. MapInfo was acquired by Pitney Bowes, Inc. in April 2007. Mr. McDougall began his tenure at MapInfo as the corporate controller. In this role, he was responsible for a variety of global accounting and financial management functions. After six years in this position, Mr. McDougall was promoted to vice president and CFO. As CFO, he was a key advisor to the CEO and the Board of Directors, establishing financial goals, strategic plans and policies and participating in the evaluation of several acquisition candidates. He was also a member of the team that managed the sale of MapInfo. MapInfo was sold for a 50% premium to its publicly traded stock value.
Before MapInfo, Mr. McDougall was a Business Assurance Manager at PricewaterhouseCoopers LLP, where he was employed for eight years. Mr. McDougall earned a Bachelor of Science in finance and mathematics and an MBA with a concentration in accounting, both from Union College. He is also a certified public accountant in the state of New York.
Mr. McDougall replaces Ron Lamy, who served as the Company's corporate controller for the past 5 years. Mr. Lamy departed AngioDynamics to accept the position of Chief Operating Officer for the New York State Nurses Association Pension Plan and Benefits Fund in Albany, New York.
AngioDynamics is a leading provider of innovative medical devices used by interventional radiologists, surgeons, and other physicians for the minimally invasive treatment of cancer and peripheral vascular disease. The Company's diverse product line includes market-leading radiofrequency ablation systems, vascular access products, angiographic products and accessories, dialysis products, angioplasty products, drainage products, thrombolytic products, embolization products and venous products.
The statements made in this document contain certain forward-looking statements that involve a number of risks and uncertainties. Words such as "expects," "intends," "anticipates," "plans," "believes," "seeks," "estimates," or variations of such words and similar expressions, are intended to identify such forward-looking statements. Investors are cautioned that actual events or results may differ from the Company's expectations. In addition to the matters described above, the ability of the Company to develop its products, future actions by the FDA or other regulatory agencies, results of pending or future clinical trials, the outcome of pending patent litigation, overall economic conditions, general market conditions, market acceptance, foreign currency exchange rate fluctuations, the effects on pricing from group purchasing organizations and competition, as well as the risk factors listed from time to time in the SEC filings of AngioDynamics, including but not limited to its Annual Report on Form 10-K for the year ended June 2, 2007, may affect the actual results achieved by the Company.
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