Healthcare Industry News: neuromodulation
News Release - June 15, 2016
Brett Reynolds Rejoins Cogentix Medical As Chief Financial OfficerMINNEAPOLIS, June 15, 2016 -- (Healthcare Sales & Marketing Network) -- Cogentix Medical, Inc. (CGNT), a global medical device company with innovative and proprietary products serving urology and airway management markets, today reported that Brett A. Reynolds has rejoined the company as Senior Vice President, Chief Financial Officer and Treasurer. Mr. Reynolds will report to Darin Hammers, interim Chief Executive Officer.
"Our entire organization is delighted that Brett will be rejoining the Cogentix team," said Mr. Hammers. "He brings significant industry experience and proven public company financial leadership. As we continue to build momentum in the marketplace for our endoscopy and Urgent PC product lines, Brett fills a key management position with extensive knowledge of our business."
"Under Darin's leadership, the Cogentix team has continued exceptional sales execution and I believe we have numerous opportunities to build on this success going forward," said Mr. Reynolds. "I'm excited to rejoin the company and work with the team to maximize shareholder value."
Mr. Reynolds' experience spans more than 20 years in finance and operations. He joined Uroplasty in 2013, which was merged into Cogentix Medical in 2015. Brett came to the Company after serving in various senior positions over a span of ten years, including Chief Financial Officer, with Synovis Life Technologies, a publicly traded Twin Cities-based medical device manufacturer acquired by Baxter International in 2012. Prior to Synovis, he served in executive financial positions at Chiquita Processed Foods and Deloitte & Touche. Mr. Reynolds is a Certified Public Accountant and holds a BA in Accounting and an MBA from the University of Minnesota's Carlson School of Management.
About Cogentix Medical
Cogentix Medical, Inc., headquartered in Minnetonka, Minnesota, with additional operations in New York, Massachusetts, The Netherlands and the United Kingdom, is a global medical device company. We design, develop, manufacture and market products for flexible endoscopy with our unique product lines featuring a streamlined visualization system and proprietary sterile disposable microbial barrier, known as EndoSheath technology, providing users with efficient and cost effective endoscope turnover while enhancing patient safety. We also commercialize the Urgent® PC neuromodulation System, an FDA-cleared device that delivers percutaneous tibial nerve stimulation (PTNS) for the office-based treatment of overactive bladder (OAB). OAB is a chronic condition that affects approximately 42 million U.S. adults. The symptoms include urinary urgency, frequency and urge incontinence. We also offer Macroplastique®, an injectable urethral bulking agent for the treatment of adult female stress urinary incontinence primarily due to intrinsic sphincter deficiency. For more information on Cogentix Medical and our products, please visit us at www.cogentixmedical.com. 'CGNT-G'
Cautionary Statements Related to Forward-Looking Statements
This press release includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as "anticipate," "expect," "plan," "could," "may," "will," "believe," "estimate," "forecast," "goal," "project," and other words of similar meaning. Forward-looking statements in this press release include, but are not limited to, statements about the benefits of the merger; expected revenue growth rates; the anticipated timing of cash flow breakeven from operations and cash flow positive from operations; and plans, objectives, expectations and intentions with respect to future operations, products and services. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the effects of industry, economic or political conditions outside of the Company's control; competitive market factors; the failure to realize synergies and cost-savings from the merger transaction or delay in realization thereof; the businesses of Uroplasty and Vision-Sciences may not be combined successfully, or such combination may take longer, be more difficult, time-consuming or costly to accomplish than expected; operating costs and business disruption following completion of the transaction, including adverse effects on employee retention and on business relationships with third parties; transaction and merger-related costs; actual or contingent liabilities; the adequacy of the Company's capital resources; and the risks identified under the heading "Risk Factors" in the annual report on Form 10-K, for the nine month fiscal year ended December 31, 2015, filed with the Securities and Exchange Commission ("SEC") on March 29, 2016. Investors are cautioned to not place considerable reliance on the forward-looking statements contained in this presentation. Investors are encouraged to read the Company's filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements in this presentation speak only as of the date of this release, and the Company undertakes no obligation to update or revise any of these statements. The Company's businesses are subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.
Source: Cogentix Medical
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