Healthcare Industry News: V.A.C. Therapy
News Release - July 15, 2009
KCI Appoints Michael Genau to New Global Leadership Position That Directs Expansion of Current Wound Therapy DivisionDivision to Extend Its Product Portfolio; Industry Veteran Brings Global Insight, Experience in Diverse Medical Fields
SAN ANTONIO--(HSMN NewsFeed)--Kinetic Concepts, Inc. (NYSE: KCI ) announced today that Michael Genau has joined the Company in the newly formed position of Global President, Wound Therapy. In this role, he will lead the Company’s current wound therapy division, which will expand beyond its signature and highly successful V.A.C.(R) Therapy product. As KCI builds this division over the next several months, Genau’s role will expand to include all operations of the division in the Americas, Europe, Middle East, Africa and Asia Pacific.
Genau most recently served as Vice President and General Manager of GE Healthcare’s Global Diagnostic X-Ray Division. Over the past 20 years, he has served in various executive-level sales, marketing and operational positions, including with GE Healthcare, GE Medical Systems and Johnson & Johnson.
“This is an exciting time for our Company,” said Catherine Burzik, KCI President and Chief Executive Officer. “During the coming years, we look forward to several innovative product launches, as well as the launch of V.A.C.(R) Therapy in the significant Japanese marketplace. Mike possesses the strategic insight, industry savvy and operational experience that will enable KCI to achieve its vision for bringing therapies with unparalleled patient outcomes and compelling economic value to the global marketplace.”
The newly created global division of KCI includes the successful V.A.C.(R) Therapy systems and will introduce additional products that represent a natural extension of KCI’s advanced wound care offerings. V.A.C.(R) Therapy has proven to be one of the most successful medical technologies ever brought to market, over the past decade providing optimal outcomes and improving the lives of more than three million patients suffering from severe and hard-to-heal wounds. Leveraging its unparalleled expertise in negative pressure, the company also has been investing in new areas for its Negative Pressure Technology Platform, including surgical wound management as well as tissue repair and regeneration. KCI has begun to introduce these new products, and several more are planned for market launch in the next year and thereafter.
“V.A.C.(R) Therapy makes a dramatic impact on patients' quality of life,” said Genau. “We are eager to partner with our customers to bring those benefits to even more patients around the world. We also have a great foundation from which to expand our product portfolio. As an innovative leader in this field, we will continue to invest in products that address the unmet needs of customers and patients around the globe.”
Kinetic Concepts, Inc. (NYSE:KCI ), is a leading global medical technology company devoted to the discovery, development, manufacture and marketing of innovative, high-technology therapies and products for the wound care, tissue regeneration and therapeutic support system markets. Headquartered in San Antonio, Texas, KCI's success spans more than three decades and can be traced to a history deeply rooted in innovation and a passion for significantly improving the healing and the lives of patients around the world.
The Company employs 6,700 people and markets its products in more than 20 countries. For more information about KCI, and how its products are changing the practice of medicine, visit www.KCI1.com.
This press release contains forward-looking statements regarding the company's future plans for the commercialization of new products. Forward-looking statements may contain words such as believes, expects, anticipates, estimates, projects, intends, should, seeks, future, continue, or the negative of such terms, or other comparable terminology. Forward-looking statements are subject to risks, uncertainties, assumptions and other factors that are difficult to predict and that could cause actual results to vary materially from those expressed in or indicated by them. Additional risks and factors are identified in KCI's filings with the U.S. Securities Exchange Commission (the SEC), including its Annual Report on Form 10-K for the fiscal year ending December 31, 2008, and Quarterly Report on Form 10-Q for the quarter ended March 31, 2009, which are available on the SEC’s Web site at http://www.sec.gov. KCI undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
Source: Kinetic Concepts
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