Healthcare Industry News: Uterine Fibroids
News Release - January 22, 2008
BioSphere Medical Names Joel B. Weinstein Vice President of Global Marketing and SalesROCKLAND, Mass.--(HSMN NewsFeed)--BioSphere Medical, Inc. (NASDAQ: BSMD ) (“BioSphere”), a medical device company that has pioneered the use of bioengineered microspheres to treat Uterine Fibroids, hypervascularized tumors, and vascular malformations by a minimally invasive, image-guided medical procedure called embolotherapy, today announced that Joel B. Weinstein has been named to the newly created position of Vice President of Global Marketing and Sales. Mr. Weinstein brings more than 20 years of experience in the imaging and women’s health industries to BioSphere. He will report to Richard Faleschini, BioSphere’s President and Chief Executive Officer.
Weinstein spent 11 years as Vice President, Marketing and Business Development of Hologic, Inc., one of the world’s largest medical device companies focused on women’s health. He joined Hologic at its inception, and during his tenure developed and executed strategies that led to the company generating annual sales of more than $100 million. In addition to his global functional responsibilities, he also assisted the company in raising its initial round of venture capital financing and executing its IPO and secondary offering. Prior to Hologic, Weinstein had progressively greater management responsibilities over a seven year period with Advanced Technology Laboratories (ATL), one of the world’s leading multi-modality diagnostic ultrasound companies. Along with several of its other major product lines, ATL was a market share leader in hospital- and office-based ultrasound systems marketed directly to obstetricians and gynecologists.
Following Hologic and before joining BioSphere Medical, Mr. Weinstein founded and led several medical device companies, and founded his own firm, which provided strategic counsel to medical device companies and venture capital firms.
Mr. Weinstein is a former Director of the Massachusetts Medical Device Council (MassMEDIC), and a former member of the MassMEDIC FDA Working Group and Reimbursement Working Group. He received his bachelor’s degree in Electrical Engineering from City College of New York and an MBA from Western New England College.
Richard Faleschini, President and Chief Executive Officer of BioSphere Medical, commented, “We welcome Joel to our Company and expect he will significantly strengthen our management team. He brings a unique combination of corporate experience and entrepreneurial drive, as well as a proven track record of bringing new products to the market, creating and cultivating global distribution channels, and developing successful regulatory and reimbursement strategies. He will play an important role in leveraging our leadership position in interventional gynecology and oncology, and in particular we believe he will advance our goal to re-accelerate UFE growth in the U.S. In addition, he will direct our U.S. sales organization, which is on track to increase by nearly a third in this current quarter.”
About BioSphere Medical, Inc.
BioSphere Medical, Inc., a medical device company based in Rockland, Massachusetts, seeks to develop and commercialize minimally invasive diagnostic and therapeutic applications based upon its pioneering proprietary bioengineered microsphere technology. The Company's core technologies, patented bioengineered polymers and manufacturing methods, are used to produce microscopic spherical materials with unique beneficial properties that are designed for a variety of medical applications. BioSphere's principal focus is the treatment of symptomatic Uterine Fibroids using a procedure called uterine fibroid embolization, or UFE. The Company's products continue to gain acceptance in this rapidly emerging procedure as well as in a number of other new and established medical treatments.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. For a discussion of important risks and uncertainties which could cause actual results to differ from those contained in such forward-looking statements, see "Risk Factors" in BioSphere’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2007, as filed by the Company with the Securities and Exchange Commission, and described in other filings made by the Company from time to time with the Securities and Exchange Commission. The forward-looking statements in this press release are made as of the date of this press release and the Company disclaims any obligation to update these forward-looking statements as a result of changed events, circumstances or otherwise.
Source: BioSphere Medical
Issuer of this News Release is solely responsible for its
Please address inquiries directly to the issuing company.