FARMINGDALE, N.Y., Dec. 19, 2016 /PRNewswire/ -- Misonix,
Inc. (NASDAQ: MSON), a leading provider of ultrasonic surgical
tools, announced today the appointment of Stavros G. Vizirgianakis as the Company's
President and Chief Executive Officer effective immediately. Mr.
Vizirgianakis has served as interim Chief Executive Officer since
September 2, 2016, and has served as
a member of the Misonix Board of Directors since May 2013. Separately, the Company announced the
resignation of T. Guy Minetti from
the Board of Directors after leading the Board process to recruit
Mr. Vizirgianakis to accept the CEO role.
"Since being appointed interim CEO, Stavros has quickly engaged
in the business with an intense focus on driving Misonix's
recurring revenue business model," said Mr. Minetti. "As the Board
considered the evolving needs of the Company, we determined that
this focus as well as Stavros' broad international healthcare
experience made him the right person to lead Misonix. After
more than a dozen years of service to the Company, I am confident
that the leadership is in place to take Misonix to new heights and
I wish the company well."
Mr. Vizirgianakis has a distinguished career in the medical
devices field having worked for United States Surgical Corporation
as director of sales for sub-Saharan Africa and later Tyco
Healthcare in the capacity of General Manager South Africa. Mr. Vizirgianakis was Managing
Director of Ascendis Medical from January
2014 to July 2016. In 2006, Mr. Vizirgianakis
co-founded Surgical Innovations, which has become one of the
largest privately owned medical device distributors in the African
region, and now part of the Johannesburg Stock Exchange listed
entity Ascendis Health. In that capacity, Mr. Vizirgianakis acted
as an independent distributor of the Misonix line of
products. Mr. Vizirgianakis also served on the board of
Tenaxis Medical and is a strategic investor and advisor to numerous
medical device startups and established companies in this field.
Mr. Vizirgianakis has a degree in commerce from the University of
South Africa.
"With the support of the Board, and our talented team of
employees, we are confident that Stavros will apply his skill set
and experience to driving growth and building shareholder value for
Misonix," said Thomas Patton, lead
Director of the Company. "And we are grateful for Mr. Minetti's
long term of service to the Company; we will miss his counsel and
we wish him well."
Mr. Vizirgianakis commented, "I look forward with great
enthusiasm to expanding our markets both within the United States and internationally. While
our ultrasonic technologies and tools are generally associated with
delicate spine surgery and the debridement of diabetic and burn
wounds, I firmly believe there are other surgical procedures that
can benefit from the mitigation of soft tissue collateral damage,
minimizing blood loss, and the generation of better patient
outcomes. We have leading-edge technology and products, highly
talented people, and the dedication to become leaders in the
markets in which we compete. I am excited with the opportunities
ahead."
On October 25, 2016, Misonix
announced that Mr. Vizirgianakis invested $4
million through the purchase from the Company of 761,469
shares of Misonix common stock in a private placement at a price of
$5.253 per share. Upon closing of the
acquisition of these shares, Mr. Vizirgianakis became the Company's
largest shareholder.
About Misonix
Misonix, Inc. designs, develops, manufactures and markets
therapeutic ultrasonic medical devices. Misonix's therapeutic
ultrasonic platform is the basis for several innovative medical
technologies. Addressing a combined market estimated in excess
of $1.5 billion annually; Misonix's proprietary
ultrasonic medical devices are used in spine surgery, neurosurgery,
orthopedic surgery, wound debridement, cosmetic surgery,
laparoscopic surgery, and other surgical and medical applications.
Additional information is available on the Company's website at
www.misonix.com
Safe Harbor Statement
With the exception of historical information contained in
this press release, content herein may contain "forward looking
statements" that are made pursuant to the Safe Harbor Provisions of
the Private Securities Litigation Reform Act of 1995. These
statements are based on management's current expectations and are
subject to uncertainty and changes in circumstances. Investors are
cautioned that forward-looking statements involve risks and
uncertainties that could cause actual results to differ materially
from the statements made. These factors include general economic
conditions, delays and risks associated with the performance of
contracts, risks associated with international sales and currency
fluctuations, uncertainties as a result of research and
development, acceptable results from clinical studies, including
publication of results and patient/procedure data with varying
levels of statistical relevancy, risks involved in introducing and
marketing new products, potential acquisitions, consumer and
industry acceptance, litigation and/or court proceedings, including
the timing and monetary requirements of such activities, the timing
of finding strategic partners and implementing such relationships,
regulatory risks including approval of pending and/or contemplated
510(k) filings, the ability to achieve and maintain profitability
in the Company's business lines, the completion of the
investigation related to identified deficiencies in internal
control over financial reporting, and other factors discussed in
the Company's Annual Report on Form 10-K, subsequent Quarterly
Reports on Form 10-Q and Current Reports on Form 8-K. The Company
disclaims any obligation to update its forward-looking
relationships.
Corporate
Contact
|
Investor
Contact
|
Joe
Dwyer
|
Joe Diaz
|
Misonix,
Inc.
|
Lytham
Partners
|
631-694-9555
|
602-889-9700
|
invest@misonix.con
|
info@misonix.com
|
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SOURCE Misonix, Inc.