Healthcare Industry News: NovoStent
News Release - June 2, 2011
NovoStent Announces Appointment of Rick Randall as Chairman of the BoardMOUNTAIN VIEW, Calif.--(Healthcare Sales & Marketing Network)-- NovoStent Corporation, a privately held medical device company, announced the appointment of Rick Randall as Chairman of the Board of Directors. Mr. Randall is currently Chairman and CEO of Avantis Medical Systems, Inc. and Chairman of TranS1, Inc. (TSON).
“We are delighted to have Rick join NovoStent as Chairman,” said G. Ray Martin, PhD, President and CEO of NovoStent. “With his wealth of experience in the medical device industry, particularly with development stage companies, Rick is truly an asset to NovoStent.”
Mr. Randall served as CEO of TranS1 from 2002 to 2011. TranS1 is a publically traded medical device company marketing devices used in the minimally invasive treatment of spinal disorders. Rick served as President and CEO of Innovasive Devices, Inc. from 1994 to 2000. Innovasive Devices was a developer, manufacturer and marketer of arthroscopic surgical products serving the sports medicine segment of the orthopedic market. Rick managed the company from the development stage through an IPO and subsequent sale to Johnson & Johnson (JNJ) in February 2000.
From 1989 to 1996 Mr. Randall served as President, Chairman and Director of Target Therapeutics, Inc., a medical device company pioneering the interventional neurosurgery market. After a successful IPO in 1992, Target was acquired by Boston Scientific Corp. (BSX) in 1996.
“I am enthusiastic about the opportunity to work with the NovoStent management team and their Board of Directors,” commented Mr. Randall. “NovoStent offers a unique solution in the treatment of peripheral vascular disease. With more than 50% surface area, twice that of a typical slotted tube stent, NovoStent’s technology can treat the entire spectrum of femoropopliteal disease presentation and it excels in especially tough cases. The high metal area also offers interesting potential for drug delivery.”
The company’s stents employ an ultra-thin macro structure that greatly exceeds the flexibility and radial strength of traditional stents along with a micro cell structure that can be tailored for different vascular anatomies. NovoStent's unique stent and integrated delivery system is designed to provide easy deployment and accurate delivery.
Approximately 12 million Americans are afflicted with peripheral artery disease (PAD). PAD commonly causes a narrowing or blockage of the leg arteries, which can result in pain when walking or even resting. NovoStent is a pioneering medical device company that seeks to provide options for patients needing treatment for their leg pain.
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