Spectranetics Names Scott Hutton as General Manager, Vascular Intervention
January 11 2017 - 9:00AM
The Spectranetics Corporation (NASDAQ:SPNC), (“the Company”) today
announced that Scott Hutton has been named General Manager,
Vascular Intervention, effective January 23rd, 2017. In this role,
Mr. Hutton will report directly to Scott Drake, President and Chief
Executive Officer.
Mr. Hutton brings a wealth of industry experience and leadership
to Spectranetics. He spent the last 16 years with Medtronic, most
recently leading the Neurosurgery business unit as the Vice
President and General Manager. Prior to joining the Neurosurgery
business, Scott led Medtronic Navigation, the world’s leading
provider of integrated navigation and intra-operative imaging
solutions. He also held numerous global marketing and business
development roles of increasing responsibility during his tenure at
Medtronic.
"We are pleased to name industry veteran Scott Hutton as the
leader of our Vascular Intervention franchise," said Scott Drake,
President and CEO. "Scott’s track record of creating value
makes him the ideal candidate to capitalize on our many
opportunities and lead the Vascular Intervention business through
its next phase of growth. We are excited to unite his world class
expertise with our team to further improve the lives of our
patients.”
Mr. Hutton stated, "I'm excited for the opportunity to play such
a vital role in helping Spectranetics achieve its next stage of
growth. The Vascular Intervention franchise is an attractive
business with compelling growth opportunities that will be integral
to the future success of the Company. I’m also proud to be joining
Spectranetics’ commitment to leading the way in clinical science in
order to provide physicians and patients with proven treatment
algorithms and advancements in therapy options.”
About
Spectranetics
The Spectranetics Corporation develops, manufactures, markets and
distributes medical devices used in minimally invasive procedures
within the cardiovascular system. The Company's products are
available in over 65 countries and are used to treat arterial
blockages in the heart and legs and in the removal of pacemaker and
defibrillator leads. The Company's Vascular Intervention (VI)
products include a range of laser catheters for ablation of
blockages in arteries above and below the knee, the AngioSculpt®
scoring balloon used in both peripheral and coronary procedures,
and the Stellarex drug-coated balloon peripheral angioplasty
platform, which received European CE mark approval in December
2014. The Company also markets support catheters to facilitate
crossing of peripheral and coronary arterial blockages, and
retrograde access and guidewire retrieval devices used in the
treatment of peripheral arterial blockages, including chronic total
occlusions. The Company markets aspiration and cardiac laser
catheters to treat blockages in the heart. The Lead Management (LM)
product line includes excimer laser sheaths, dilator sheaths,
mechanical sheaths and accessories for the removal of pacemaker and
defibrillator cardiac leads. For more information, visit
www.spectranetics.com.
Safe Harbor StatementThis news release contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, Section 21E of the Securities Exchange Act
of 1934 and the Private Securities Litigation Reform Act of 1995.
You can identify these statements because they do not relate
strictly to historical or current facts. Such statements may
include words such as “anticipate,” “will,” “estimate,” “expect,”
“look forward,” “strive,” “project,” “intend,” “should,” “plan,”
“believe,” “hope,” “enable,” “potential,” and other words and terms
of similar meaning in connection with any discussion of, among
other things, future operating or financial performance, strategic
initiatives and business strategies, clinical trials and regulatory
approvals, regulatory or competitive environments, outcome of
litigation, our intellectual property and product development.
These forward-looking statements include, but are not limited to,
statements regarding our competitive position, product development
and commercialization schedule, expectation of continued growth and
the reasons for that growth, growth rates, strength, integration
and product launches, and 2016 and 2017 outlook and projected
results including projected revenue and expenses, net loss and
gross margin. Such statements are based on current assumptions that
involve risks and uncertainties that could cause actual outcomes
and results to differ materially. You are cautioned not to place
undue reliance on these forward-looking statements and to note they
speak only as of the date of this release. These risks and
uncertainties may include financial results differing from
guidance, inability to successfully integrate AngioScore and
Stellarex into our business, market acceptance of excimer laser
atherectomy technology and our vascular intervention and lead
management products, lack of cash necessary to satisfy our cash
obligations under our outstanding 2.625% Convertible Senior Notes
due 2034 and our term loan and revolving loan facilities, our debt
adversely affecting our financial health and preventing us from
fulfilling our debt service and other obligations, increasing price
and product competition, increased pressure on expense levels
resulting from expanded sales, marketing, product development and
clinical activities, uncertain success of our strategic direction,
dependence on new product development, loss of key personnel,
uncertain success of or delays in our clinical trials, costs of and
adverse results in any ongoing legal proceeding, or any legal
proceeding in which we may become involved, adverse impact to our
business of the health care reform and related legislation or
regulations, including changes in reimbursements, continued or
worsening adverse conditions in the general domestic and global
economic markets and continued volatility and disruption of the
credit markets, which affects the ability of hospitals and other
health care systems to obtain credit and may impede our access to
capital, intellectual property claims of third parties,
availability of inventory from suppliers, adverse outcome of FDA
inspections, the receipt of FDA clearance and other regulatory
approvals to market new products or applications and the timeliness
of any clearance and approvals, market acceptance of new products
or applications, product defects, ability to manufacture sufficient
volumes to fulfill customer demand, availability of vendor-sourced
components at reasonable prices, unexpected delays or costs
associated with any planned improvements to our manufacturing
processes, and share price volatility due to the initiation or
cessation of coverage, or changes in ratings, by securities
analysts. For a further list and description of such risks and
uncertainties that could cause our actual results, performance or
achievements to materially differ from any anticipated results,
performance or achievements, please see our previously filed SEC
reports, including those risks set forth in our 2015 Annual Report
on Form 10-K and our Quarterly Reports on Form 10-Q. We disclaim
any intention or obligation to update or revise any financial or
other projections or other forward-looking statements, whether
because of new information, future events or otherwise.
Investor Relations Contacts
Zach Stassen
Investor.relations@spnc.com
(719) 447-2292
Michaella Gallina
Investor.relations@spnc.com
(719) 246-1713
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