Healthcare Industry News: Cyberonics
News Release - December 9, 2009
Al Novak Elected Chairman of the Board of OrbusNeich MedicalNovak to Continue to Serve as President, Chief Executive Officer
HONG KONG, Dec. 9 -- (Healthcare Sales & Marketing Network) -- OrbusNeich today announced that Al Novak has been elected chairman of the board.
Novak, 61 years old, will continue to serve as president and chief executive officer of OrbusNeich, the role that he has held since 2008. He brings over 27 years of leadership experience in the medical technology industry to the position having served as chief executive officer of Novoste Corporation and Biosense, Inc. and in marketing and financial positions with Cordis Corporation including vice president and chief financial officer. Mr. Novak was a founder of Syntheon LLC and also serves on the board of directors of Cyberonics Inc., a NASDAQ listed company.
"Al Novak's election as chairman comes at an important time in the growth of OrbusNeich as a global medical device company," said Teddy Chien, the company's former chairman who will remain a board member and chairman emeritus. "We are confident that Al will continue to lead this company toward additional expansion and the development of competitive, innovative technology that meets the needs of interventional cardiologists."
Novak added: "We are grateful to Teddy for his commitment to OrbusNeich and for his many contributions to interventional cardiology. His vision of building a global medical device company that capitalizes on distinct geographical opportunities based on local market expertise and relationships is one that will continue to drive our business."
Teddy Chien has had a distinguished career working with the medical community over the past 50 years in various capacities at pharmaceutical and medical device companies. In 1979, Chien founded Neich Medical as the exclusive representative for Cordis Corporation in Asia, which was subsequently sold to Johnson and Johnson when it acquired Cordis in 1996. Neich Medical was relaunched in 1999 with the vision to design and build its own cardiology products. Neich Medical and Orbus Medical Technologies merged in 2005 to form OrbusNeich Medical.
Mr. Chien has made many contributions to the cardiology community. He is most proud of founding, in conjunction with leading cardiologists in the Asia/Pacific region, The Chien Foundation. The Foundation was established to provide cardiology fellowships in developing countries in Asia and to foster goodwill and training opportunities among interventional cardiologists within the region. The Foundation also supports keynote lectures and Young Investigator Awards at major conferences within Asia.
OrbusNeich is a global company that designs, develops, manufactures and markets innovative medical devices for the treatment of vascular diseases. Current products are the world's first pro-healing stent, the Genous Bio-engineered R stent, as well as stents, balloons and guiding catheters marketed under the names of Blazer(TM), R stent, Scoreflex(TM), SafeCut(TM), Sapphire(TM), Sapphire NC, Avita(TM), Avita HP and Lumina(TM). OrbusNeich is headquartered in Hong Kong and has operations in Fort Lauderdale, Fla.; Hoevelaken, The Netherlands; Tokyo, Japan; and Shenzhen, China. OrbusNeich, which has provided medical devices to physicians through its predecessor companies since 1979, supplies products today to interventional cardiologists in more than 60 countries. For more information, visit www.OrbusNeich.com.
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