Healthcare Industry News: Bard
News Release - January 25, 2011
BSD Medical Names Steven Smith as Vice President of Sales, Marketing and Business Development, Details Distribution StrategySALT LAKE CITY--(Healthcare Sales & Marketing Network)-- BSD Medical Corporation (NASDAQ:BSDM ) (Company or BSD) (www.BsdMedical.com), a leading provider of medical systems that utilize heat therapy to treat cancer, announced today that Steven M. Smith’s responsibilities have been expanded to include all global sales and distribution. Mr. Smith’s new title will be Vice President of Sales, Marketing, and Business Development. BSD Medical is investing heavily in the expansion of its marketing and sales infrastructure to support the MicroThermX® Microwave Ablation (MicroThermX®) line of products. BSD recently hired a Fortune-500 experienced Director of Marketing as well as a veteran microwave ablation Eastern Regional Sales Manager.
As part of BSD’s strategic initiative for capitalizing on the large ablation market, Mr. Smith will be establishing a US, exclusive, specialty distribution network. Within the next 90 days, this sales and distribution strategy will place up to 60 sales representatives nationwide who will be selling the MicroThermX® Microwave Ablation line of products. Mr. Smith has a previous four-time successful track record in implementing an identical sales and distribution strategy. The 60 US sales representatives will be receiving hands-on direction and training from BSD’s Eastern and Western Regional Sales Managers.
The same strategic marketing initiative will be rolled out on an international basis by partnering with leading medical distribution firms on a country-by-country basis. International distributors will be selected on the basis of their current synergistic product sales mix and presence in the field of interventional oncology/radiology. Mr. Smith will be supported in this effort by the addition of a dedicated Director of International Sales.
Mr. Smith has 33 years of experience in the medical industry, with expertise in marketing, sales, new business development, product research and development, operations and corporate management. Mr. Smith joined BSD in June 2009. One of his many contributions to the Company has been the successful creation of “direct to physician” access, which allowed BSD to leverage microwave ablation product design inputs from key clinicians. These significant clinical performance characteristics have been incorporated into the MicroThermX® System by BSD’s engineers, creating what BSD feels to be a far superior product. Prior to joining BSD, he served as Director, Business Development, for Bard Access Systems, Inc., a division of C.R. Bard.
Commenting on Mr. Smith’s appointment, Harold Wolcott, President of BSD Medical, said, “During his 18-month tenure at BSD, Steve has proven to be an indispensable part of our overall efforts to redirect BSD into the new interventional oncology/radiology markets. I have personally known Steve for more than 20 years. He is highly respected in the medical arena for his integrity and wide-ranging experience. To ensure our success, we must have a strong execution of the specialty distribution strategy. We must also cultivate and take advantage of potential strategic partnering relationships when necessary. Steve is uniquely qualified to successfully implement BSD’s global strategy and fill this essential role for the Company.”
About the MicroThermX® Microwave Ablation System
The MicroThermX® Microwave Ablation System (MTX-180) is a compact, mobile, state-of-the-art, proprietary system that includes a microwave generator, single-patient-use disposable antennas, and a thermistor-based temperature monitoring system. The innovative design of the MTX-180 is the first of its kind that allows delivery of higher power levels using a single generator. The MTX-180 utilizes innovative synchronous phased array technology that was developed and patented by BSD to provide larger and more uniform zones of ablation during a single procedure. The MTX-180 introduces into the Company’s product line an innovative, high-end disposable that is used in each ablation treatment, and will provide a significant ongoing revenue stream. The soft tissue ablation world market potential is estimated to exceed $2.3 billion. The U.S. Food and Drug Administration (FDA) has granted the Company a 510(k) clearance to market the MTX-180 for ablation of soft tissue. BSD has also received CE Marking for the MTX-180 System, which allows BSD to market the MTX system in Europe. CE marking is also recognized in many countries outside of the EU, providing BSD the ability to market the MTX to a number of international markets.
About BSD Medical Corporation
BSD Medical Corporation develops, manufactures, markets and services systems to treat cancer and benign diseases using heat therapy delivered using focused radiofrequency (RF) and microwave energy. BSD’s product lines include both hyperthermia and ablation treatment systems. BSD’s hyperthermia cancer treatment systems, which have been in use for several years in the United States, Europe and Asia, are used to treat certain tumors with heat (hyperthermia) while increasing the effectiveness of other therapies such as radiation therapy. BSD’s microwave ablation system has been developed as a stand-alone therapy to ablate and destroy soft tissue. The Company has developed extensive intellectual property, multiple products in the market and well established distribution in the United States, Europe and Asia. Certain of the Company’s products have received regulatory approvals in the United States, Europe and China. For further information, visit BSD Medical’s website at www.BSDMedical.com.
Statements contained in this press release that are not historical facts are forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. All forward-looking statements are subject to risks and uncertainties detailed in the Company’s filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date on which such statements are made, and the Company undertakes no obligation to update such statements to reflect events or circumstances arising after such date.
Source: BSD Medical
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