Medigus Announces CEO Chris Rowland to Step Down
January 10 2019 - 7:30AM
(NASDAQ: MDGS) (TASE: MDGS), a medical device company developing
minimally invasive endosurgical tools and an innovator in direct
visualization technology, announced today that Mr. Chris Rowland,
the company’s chief executive officer, will step down effective as
of February 28, 2019. Following such date, Mr. Rowland will
continue to work with the company as a consultant to contribute
from his experience and understanding of the company’s products to
promoting shareholder value through the MUSE™ and ScoutCam™
portfolios.
An executive committee appointed by the board of
directors will undertake Mr. Rowland’s responsibilities until a
replacement is appointed.
Chris Rowland was appointed chief executive
officer of Medigus in October 2013 and has since played a key role
in the development and commercialization of the Company’s products.
“On behalf of the entire board, I want to thank Chris Rowland for
his contribution to Medigus over the past five years and commend
him for acting always with the highest personal and professional
integrity,” said Prof. Benad Goldwasser, chairman of the board of
directors. “Given his dedication to Medigus, it is no surprise that
Chris intends to continue to support the company’s activity.”
“It has been an honor to work at Medigus for the
past years and I look forward to working with the board of
directors to identify new opportunities for the company’s
products,” said Mr. Rowland.
About MedigusMedigus is a medical device company
specializing in developing minimally invasive endosurgical tools
and highly innovative imaging solutions. Medigus is the pioneer
developer of the MUSE™ system, an FDA cleared and CE marked
endoscopic device to perform Transoral Fundoplication (TF) for the
treatment of GERD (gastroesophageal reflux disease), one of the
most common chronic conditions in the world. In 2016, the CMS
established the Category I CPT® Code of 43210 for TF procedures,
such as the ones performed with MUSE, which establishes
reimbursement values for physicians and hospitals. Medigus makes
persistent efforts to gain MUSE adoption in key markets around the
world – it is available in world-leading healthcare institutions in
the U.S., Europe and Israel. Medigus is also in the process of
obtaining regulatory clearance in China. Medigus is traded on the
Nasdaq Capital Market and the TASE (Tel-Aviv Stock Exchange Ltd.).
To learn more about the company’s advanced technology, please visit
www.medigus.com or www.RefluxHelp.com.
About the micro ScoutCam™ PortfolioAs an expert in
micro-endoscopic devices, Medigus developed the micro ScoutCam™
portfolio, which consists of a variety of micro CMOS and CCD video
cameras, and includes micro ScoutCam™ 1.2, which to the best of the
company's knowledge, is the smallest in the world. micro ScoutCam
technology features optic and illumination solutions, micro sensors
and high-end DSP video processors that can be tailored for both
medical and industrial applications. Customization and seamless
integration is at the forefront of the micro ScoutCam portfolio’s
design. All micro ScoutCam cameras are manufactured at Medigus’
facilities, in a controlled environment, ISO 7 per the ISO
14644-1:2015 Standard and 13485:2016 for Quality Management
System.
This press release may contain statements that
are “Forward-Looking Statements,” which are based upon the current
estimates, assumptions and expectations of the company’s management
and its knowledge of the relevant market. The company has tried,
where possible, to identify such information and statements by
using words such as “anticipate,” “believe,” “envision,”
“estimate,” “expect,” “intend,” “may,” “plan,” “predict,”
“project,” “target,” “potential,” “will,” “would,” “could,”
“should,” “continue,” “contemplate” and other similar expressions
and derivations thereof in connection with any discussion of future
events, trends or prospects or future operating or financial
performance, although not all forward-looking statements contain
these identifying words. These forward-looking statements represent
Medigus’ expectations or beliefs concerning future events, and it
is possible that the results described in this press release will
not be achieved. By their nature, Forward-Looking Statements
involve known and unknown risks, uncertainties and other factors
which may cause future results of the company’s activity to differ
significantly from the content and implications of such statements.
Other risk factors affecting the company are discussed in detail in
the company's filings with the Securities and Exchange Commission.
Forward-Looking Statements are pertinent only as of the date on
which they are made, and the company undertakes no obligation to
update or revise any Forward-Looking Statements, whether as a
result of new information, future developments or otherwise.
Neither the company nor its shareholders, officers and employees,
shall be liable for any action and the results of any action taken
by any person based on the information contained herein, including
without limitation the purchase or sale of company securities.
Nothing in this press release should be deemed to be medical or
other advice of any kind.
MEDIA CONTACT:Chantal BeaudryLazar Partners
Ltd.212-867-1762cbeaudry@lazarpartners.com
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