Healthcare Industry News: Edwards Lifesciences
News Release - July 6, 2010
Endologix Appoints Todd Abraham Vice President of OperationsIRVINE, Calif., July 6 (Healthcare Sales & Marketing Network) -- Endologix, Inc. (Nasdaq:ELGX ), developer of minimally invasive treatments for aortic disorders, announced today that it has appointed Todd Abraham to the newly created position of Vice President of Operations. Mr. Abraham will be responsible for managing all of Endologix's day-to-day operations and will report to John McDermott, President and Chief Executive Officer.
Mr. McDermott, said, "Todd Abraham is a 25 year veteran of the medical device industry, with an impressive track record in manufacturing, operational management and commercialization. His experience is complemented by his endovascular product experience at Edwards Lifesciences and Cordis Corporation. He is an important addition to our management team as we execute on our strategy to expand our product portfolio to address the entire aortic stent graft market opportunity."
Prior to joining Endologix, Mr. Abraham held several management positions at Edwards Lifesciences, including Vice President, Glucose Monitoring; Vice President, Global Supply Chain & Logistics; and Vice President, Manufacturing. Prior to joining Edwards, Mr. Abraham was Vice President & General Manager of Sterilis, Inc., a development stage start-up focused on minimally invasive products for gynecology, urology and general surgery. Mr. Abraham began his career at Cordis Corporation (acquired by Johnson & Johnson in 1996), where he spent 14 years in positions of increasing responsibility, gaining operational and product development experience across several cardiovascular product categories and manufacturing lines.
Mr. Abraham received a B.A. in Economics from Duke University and completed graduate work in Engineering Management at the University of South Florida.
About Endologix, Inc.
Endologix, Inc. develops and manufactures minimally invasive treatments for aortic disorders. The Company's flagship product is the PowerlinkŪ System, which is an endovascular stent graft for the treatment of abdominal aortic aneurysms (AAA). AAA is a weakening of the wall of the aorta, the largest artery in the body, resulting in a balloon-like enlargement. Once AAA develops, it continues to enlarge and, if left untreated, becomes increasingly susceptible to rupture. The overall patient mortality rate for ruptured AAA is approximately 75%, making it a leading cause of death in the U.S. Additional information can be found on Endologix's Web site at www.endologix.com.
Except for historical information contained herein, this news release contains forward-looking statements, including the planned expansion of Endologix's product portfolio, the accuracy of which are necessarily subject to risks and uncertainties, all of which are difficult or impossible to predict accurately and many of which are beyond the control of Endologix. Many factors may cause actual results to differ materially from anticipated results, including the success of sales efforts for the Powerlink System, product research and development efforts, and other economic, business, competitive and regulatory factors. The Company undertakes no obligation to update its forward looking statements. Please refer to the Company's Annual Report on Form 10-K for the year ended December 31, 2009, and the Company's other filings with the Securities and Exchange Commission, for more detailed information regarding these risks and other factors that may cause actual results to differ materially from those expressed or implied.
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