Healthcare Industry News:  degenerative disc disease 

Devices Neurosurgery Orthopaedic Personnel

 News Release - June 2, 2008

Raymedica(R) Announces New President, Craig Corrance

MINNEAPOLIS--(HSMN NewsFeed)--Raymedica, LLC, the Pioneer in Nucleus Arthroplasty, located in Minneapolis, Minnesota is pleased to announce that Craig Corrance has been appointed as President with immediate effect.

The announcement was made by John J. Viscogliosi, Chairman and CEO of Raymedica, and is reflective of the company’s commitment to build a strong and dynamic management team in furthering its position as the leader in Nucleus Arthroplasty technologies.

“Along with attracting world-class talent from outside the company, one of my top priorities is to continue to grow my leadership team,” said John J. Viscogliosi. “Craig Corrance will play a critical role in leading Raymedica into the future. Today’s appointment is a result of our ability to expand strategically on a global scale; the respect Mr. Corrance has earned from the surgeon community and his industry peers will provide significant momentum to the company.”

“Raymedica is charting a course to transform the global nucleus replacement marketplace as we know it,” Corrance said. “In moving to Raymedica, the next few years promise to be exciting ones for Nucleus Arthroplasty in Spinal Care, the science is maturing rapidly in growth factors and biologics, as are innovations in combined technologies that provide earlier surgical intervention in the degenerative disc disease (DDD) cascade.” Mr. Corrance added, “Raymedica is positioned to play a major role in many of the advances in science and engineering. To lead Raymedica during this time is a great privilege and I look forward to the coming years with much excitement."

About Raymedica

Raymedica, LLC, based in Minneapolis, Minnesota, is the Pioneer in Nucleus Arthroplasty™ having developed the world’s first nucleus replacement device in 1996. Raymedica develops, manufactures and markets medical device systems designed to treat patients with degenerative disc disease that have been unresponsive to non-surgical treatment. Based on recent independent analysis of the U.S. Prosthetic Disc Nuclei market, Frost & Sullivan recognized Raymedica, LLC with the prestigious “2008 Frost & Sullivan Hot Investment Opportunity Award.”

Raymedica’s products are currently available in many countries worldwide, but are limited to investigational use only in the United States. For more information, visit the Company's website at http://www.raymedica.com.


Source: Raymedica

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