IRVINE, Calif., May 21 /PRNewswire-FirstCall/ -- Endologix, Inc.
(Nasdaq: ELGX), developer of minimally invasive treatments for
aortic disorders, announced today that Thomas C. Wilder has joined the Endologix Board
of Directors. Mr. Wilder was elected to the Board during the
Company's 2010 Annual Meeting of Stockholders held on May 20, 2010. He replaces Paul McCormick, whose term on the Board expired
at the Annual Meeting. With the addition of Mr. Wilder and the
departure of Mr. McCormick, the Company has five independent
directors, up from four previously, and two non-independent
directors, down from three previously.
Mr. Wilder currently serves as President and CEO of Sequent
Medical, a private company focused on developing innovative devices
for the treatment of neurovascular disease. Prior to joining
Sequent Medical, Mr. Wilder was President and CEO of Photothera, a
private company developing transcranial laser therapy for the
treatment of acute ischemic stroke. Prior to Photothera, Mr.
Wilder was President and CEO of Micro Therapeutics, a publicly
traded company that provided a broad range of advanced
interventional products to neurovascular specialists. Micro
Therapeutics was merged into ev3 in January
2006 at a valuation of approximately $360 million. Prior to Micro Therapeutics,
Mr. Wilder held several positions during an eleven-year tenure at
Medtronic, including Vice President & General Manager,
Endovascular Stent Grafts; Vice President, Finance, IT and Business
Development at Medtronic Vascular; and roles of increasing
responsibility as a five-year expatriate in both Europe and Asia.
Mr. Wilder holds a BA in Economics, with distinction, from
Stanford University and a Master of
Management, with distinction, from the J.L. Kellogg Graduate School
of Management at Northwestern
University.
Franklin D. Brown, Chairman of
the Board, said, "Tom Wilder is a
seasoned healthcare executive with direct endovascular stent graft
business experience. He is a proven leader with extensive financial
expertise and operational experience with growth companies.
His capabilities will be a valuable asset as we execute on
Endologix's long-term growth strategy. We are pleased to welcome
him to the Endologix Board of Directors and look forward to his
contributions."
Mr. Brown continued, "On behalf of the Board of Directors, I
would like to thank Paul McCormick
for his service on the Board, and previously, as the Company's CEO.
Paul made significant contributions in guiding the Company's
growth and we wish him the best in his other endeavors."
About Endologix, Inc.
Endologix, Inc. develops and manufactures minimally invasive
treatments for aortic disorders. The Company's flagship product is
the Powerlink® System, which is an endovascular stent graft for the
treatment of abdominal aortic aneurysms (AAA). AAA is a weakening
of the wall of the aorta, the largest artery in the body, resulting
in a balloon-like enlargement. Once AAA develops, it continues to
enlarge and, if left untreated, becomes increasingly susceptible to
rupture. The overall patient mortality rate for ruptured AAA is
approximately 75%, making it a leading cause of death in the U.S.
Additional information can be found on Endologix's Web site at
www.endologix.com.
Forward-Looking Statements
Except for historical information contained herein, this news
release contains forward-looking statements, the accuracy of which
are necessarily subject to risks and uncertainties, all of which
are difficult or impossible to predict accurately and many of which
are beyond the control of Endologix. Many factors may cause actual
results to differ materially from anticipated results, including
the success of sales efforts for the Powerlink System and related
new products, product research and development efforts, and other
economic, business, competitive and regulatory factors. The Company
undertakes no obligation to update its forward looking statements.
Please refer to the Company's Annual Report on Form 10-K for the
year ended December 31, 2009, and the
Company's other filings with the Securities and Exchange
Commission, for more detailed information regarding these risks and
other factors that may cause actual results to differ materially
from those expressed or implied.
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COMPANY
CONTACT:
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INVESTOR
CONTACTS:
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Endologix, Inc.
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The Ruth
Group
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John McDermott, CEO
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Nick Laudico (646)
536-7030
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(949) 595-7200
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Zack Kubow (646) 536-7020
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www.endologix.com
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SOURCE Endologix, Inc.