Healthcare Industry News: Stereotaxis
News Release - April 7, 2008
Stereotaxis Appoints Senior Vice President of Global Marketing and General Manager for EuropeFormer C.R. Bard and Biosense Webster Executives Join Stereotaxis
ST. LOUIS, April 7, 2008 (HSMN NewsFeed) -- Stereotaxis, Inc. (Nasdaq: STXS ), announced today that it has made two strategic additions to its senior management team. The Company appointed Kevin Shifrin, most recently the Vice President of Global Marketing for the C.R. Bard Peripheral Vascular Division, as Stereotaxis' new Senior Vice President of Global Marketing and Business Development. The Company has also appointed Magnus Holm, most recently Vice President at Biosense Webster Europe Middle East & Africa (EMEA), as the Company's new General Manager for Europe. They will report to Michael P. Kaminski, President and Chief Operating Officer of Stereotaxis.
"Kevin and Magnus are seasoned executives with global marketing and business management experience with major international medical device companies," said Bevil J. Hogg, Chief Executive Officer of Stereotaxis. "Kevin brings more than 15 years of healthcare experience, and his expertise in medical devices, insight into product development and global marketing, and strong connections with physicians worldwide will help us further strengthen our marketing capabilities. Magnus is a highly experienced veteran of the electrophysiology lab and honed his skills with increasing responsibilities in sales, clinical development, market development and business management at Biosense Webster. We believe they can add significant value and experience to our Company as we continue to expand our business, and continue to strengthen our major industry partnerships."
Mr. Shifrin, 42, joins Stereotaxis from C.R. Bard, a developer, manufacturer and marketer of healthcare products in the fields of vascular, urology, oncology and surgical specialty products, where he served as Vice President of Global Marketing for the Peripheral Vascular Division. He joined Bard in 2002 from Cordis Corporation, a subsidiary of Johnson & Johnson, where he served as the Executive Director of Marketing for Cordis Cardiology Europe, and helped oversee the execution of European marketing programs supporting the Cordis stent business. Prior to joining Cordis in 2002, he spent eight years at Bard in a variety of sales, marketing and product management positions with several divisions in the U.S., Europe, Asia, and Latin America.
"I look forward to leading Stereotaxis' global marketing efforts and believe the Company's unique and innovative magnetic navigation system sets the standard of care for treatment of coronary disease and arrhythmia worldwide," said Mr. Shifrin. "I joined Stereotaxis because I see the tremendous potential for the Niobe system and the Odyssey network, as physicians are increasingly called upon to perform highly complex interventional procedures safely and effectively."
Mr. Shifrin earned his MBA in Marketing from the University of Chicago Graduate School of Business in 1991, and his B.S. with honors in Public Administration from the University of Southern California.
Dr. Holm, 44, joins Stereotaxis from Biosense Webster, a leader in technological advancements for the diagnosis and treatment of cardiac arrhythmias, where he served most recently as Vice President of EMEA. In this capacity, Dr. Holm was responsible for sales and marketing and business development throughout the EMEA region. Throughout his 10-year tenure at the Johnson & Johnson subsidiary, Dr. Holm held a variety of positions in market and clinical development and business management.
"Stereotaxis is a growing company dedicated to providing electrophysiologists and other specialists with a safe and effective state of the art system designed for very complex and difficult procedures," said Dr. Holm. "I believe Europe presents a tremendous growth opportunity as more clinical studies are performed and additional EP labs adopt these sophisticated, high-end cardiology solutions."
Prior to joining Biosense Webster in 1997, Dr. Holm spent six years as a hospital engineer and PhD student at the University Hospital in Lund, Sweden. He previously spent four years as a hospital engineer in the clinical physiology department at the Regional Hospital in Kristianstad, Sweden. Dr. Holm earned his PhD in medical science from Lund University, Sweden, in 1997, and his Master of Science degree in biomedical engineering from the Linkoping University in 1987. In 1997, he finished his thesis in clinical electrophysiology on chronic atrial fibrillation.
Stereotaxis designs, manufactures and markets an advanced cardiology instrument control system for use in a hospital's interventional surgical suite to enhance the treatment of coronary artery disease and arrhythmias. The Stereotaxis System is designed to enable physicians to complete more complex interventional procedures by providing image guided delivery of catheters and guidewires through the blood vessels and chambers of the heart to treatment sites. This is achieved using computer-controlled, externally applied magnetic fields that govern the motion of the working tip of the catheter or guidewire, resulting in improved navigation, shorter procedure time and reduced x-ray exposure. The core components of the Stereotaxis system have received regulatory clearance in the U.S., Europe and Canada.
This press release includes statements that may constitute "forward- looking" statements, usually containing the words "believe," "estimate," "project," "expect" or similar expressions. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance for the Company's products in the marketplace, competitive factors, changes in government reimbursement procedures, dependence upon third-party vendors, and other risks discussed in the Company's periodic and other filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release. There can be no assurance that the Company will recognize revenue related to its purchase orders and other commitments in any particular period or at all because some of these purchase orders and other commitments are subject to contingencies that are outside of the Company's control. In addition, these orders and commitments may be revised, modified or canceled, either by their express terms, as a result of negotiations, or by project changes or delays.
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