Healthcare Industry News: Magellan Robotic
News Release - February 14, 2013
Hansen Medical Appoints Will Sutton as Chief Operating Officer Responsible for Engineering and ManufacturingMOUNTAIN VIEW, CA--(Healthcare Sales & Marketing Network) - Hansen Medical, Inc. ( NASDAQ : HNSN ), a global leader in intravascular robotics, today announced the recent appointment of Will Sutton to the newly created position of Chief Operating Officer. Mr. Sutton will report directly to Bruce Barclay, President and Chief Executive Officer. His responsibilities will include the management and oversight of the engineering and manufacturing functions. The creation of this position provides the benefit of enhanced collaboration on product development and manufacturing, which is consistent with the Company's strategic imperative to bringing new, innovative products and capabilities to the market with improved product margins.
Mr. Sutton brings over 25 years of product development and manufacturing experience in the medical technology industry. Prior to joining Hansen Medical, Mr. Sutton served in increasingly senior positions at St. Jude Medical over the past 10 years. In his most recent role as Vice President of Research and Development of the Atrial Fibrillation (AF) Division, Mr. Sutton directed day-to-day and strategic R&D activities for global interventional electrophysiology products and was responsible for managing a department of 270 employees across five locations, as well as a portfolio of over 30 annual projects. During his six years in this role, revenue in the AF Division of St. Jude Medical grew more than six-fold from $145 million to over $880 million. Earlier in his career at St. Jude Medical, he served as the Director of R&D for the Cardiac Surgery Division and Vice President of Program Management for the AF Division, where he was responsible for overseeing day-to-day strategic R&D activities and ensuring project performance to timeline, budget, features, and success metrics.
Mr. Sutton has also held multiple executive management positions in both R&D and manufacturing at Vascular Solutions, Urologix and C.R. Bard. He began his career as a development engineer in the Diagnostics Division of Abbott Labs, and holds a B.S. and M.S. in mechanical engineering from Stanford University.
"Will has extensive operations, research, product development, and manufacturing experience in the medical technology space, both in capital equipment and disposables, and within both the EP and vascular markets," said Bruce, President and CEO of Hansen Medical. "His background is ideal for the newly created COO position. As Hansen Medical sharpens its operational and commercial focus, it is imperative that we have the organizational structure, and experienced leadership to maximize profitability and ensure long-term commercial success. Will's appointment, as well as the recently announced appointment of Bob Cathcart to the position of Senior Vice President of Global Sales, provides Hansen Medical with two additional, highly experienced senior executives with proven commercial success in support of this objective. I am confident that Will's expertise will be invaluable to our Company as we expand the launch of our Magellan™ Robotic System, and continue to advance our product pipeline."
"I am excited to join the Hansen Medical team at such an important inflection point in the Company's history," said Mr. Sutton. "I look forward to utilizing my experience in operations management, research, product development, and manufacturing to help Hansen Medical achieve operational and commercial excellence."
About Hansen Medical, Inc.
Hansen Medical, Inc., based in Mountain View, California, is the global leader in intravascular robotics, developing products and technology designed to enable the accurate positioning, manipulation and control of catheters and catheter-based technologies. The Company's Magellan™ Robotic System, Magellan Robotic Catheter and related accessories, which are intended to facilitate navigation to anatomical targets in the peripheral vasculature and subsequently provide a conduit for manual placement of therapeutic devices, have undergone both CE marking and 510(k) clearance and are commercially available in the European Union, and the U.S. In the European Union, the Company's Sensei® X Robotic Catheter System and Artisan Control Catheter are cleared for use during electrophysiology (EP) procedures, such as guiding catheters in the treatment of atrial fibrillation (AF), and the Lynx® Robotic Ablation Catheter is cleared for the treatment of AF. This robotic catheter system is compatible with fluoroscopy, ultrasound, 3D surface map and patient electrocardiogram data. In the U.S. the Company's Sensei X Robotic Catheter System and Artisan Control Catheter were cleared by the U.S. Food and Drug Administration for manipulation and control of certain mapping catheters in EP procedures. In the United States, the Sensei System is not approved for use in guiding ablation procedures; this use remains experimental. The U.S. product labeling therefore provides that the safety and effectiveness of the Sensei X System and Artisan Control Catheter for use with cardiac ablation catheters in the treatment of cardiac arrhythmias, including AF, have not been established. Additional information can be found at www.hansenmedical.com.
This press release contains forward-looking statements regarding, among other things, statements relating to goals, plans, objectives, milestones and future events. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including statements containing the words "plan," "expects," "potential," "believes," "goal," "estimate," "anticipates," and similar words. These statements are based on the current estimates and assumptions of our management as of the date of this press release and are subject to risks, uncertainties, changes in circumstances and other factors that may cause actual results to differ materially from the information expressed or implied by forward-looking statements made in this press release. Examples of such statements include statements about our long-term profitability and success, the progress of our Magellan™ Robotic System launch, and advancement of our product pipeline. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, among others: technical, clinical, engineering, regulatory, manufacturing, sales and customer service challenges in developing new products and entering new markets; potential safety and regulatory issues that could slow or suspend our sales; the effect of credit, financial and economic conditions on capital spending by our potential customers; the uncertain timelines for the sales cycle for newly introduced products; the rate of adoption of our systems and the rate of use of our catheters; the scope and validity of intellectual property rights applicable to our products; competition from other companies; our ability to recruit and retain key personnel; our ability to maintain our remedial actions over previously reported material weaknesses in internal controls over financial reporting; our ability to manage expenses and cash flow, and obtain additional financing; and other risks more fully described in the "Risk Factors" section of our Quarterly Report on Form 10-Q for the quarter ended September 30, 2012 filed with the SEC on November 9, 2012 and the risks discussed in our other reports filed with the SEC. Given these uncertainties, you should not place undue reliance on the forward-looking statements in this press release. We undertake no obligation to revise or update information herein to reflect events or circumstances in the future, even if new information becomes available.
Hansen Medical, Heart Design (Logo), Hansen Medical (with Heart Design), Sensei and Lynx are registered trademarks, and Magellan is a trademark of Hansen Medical, Inc. in the United States and other countries.
Source: Hansen Medical
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