Conceptus(R) Announces Organizational Changes
June 28 2012 - 4:28PM
Conceptus, Inc. (Nasdaq:CPTS), developer of the
Essure® procedure, the leading non-surgical permanent birth control
method, today announced a reorganization to unify the global sales
and marketing groups under one organization. A search has begun for
a chief commercial officer who will report to D. Keith Grossman,
the Company's president and chief executive officer. The Company
also announced that Ric Cote, executive vice president of global
sales and Sam Trujillo, executive vice president of marketing will
be leaving Conceptus to pursue other opportunities effective
immediately.
"This change will bring to us all of the benefits of a united
selling and marketing function, and also represents the enthusiasm
of our board of directors for continued investment in the Company's
compelling growth opportunity going forward," remarked Mr.
Grossman. "This reorganization and ultimate supplement to our
leadership talent will be an important part of the ongoing
refinement of our commercial execution, and represents an untapped
opportunity for improvement as we grow."
"I want to thank both Ric and Sam for their contributions, and
in particular Ric, who joined our company in 2004 when were only
around $12 million in annual sales, and has played an important
leadership role in our growth and strategies over the years since,"
Mr. Grossman added.
In connection with the reorganization, the Company reaffirmed
its full year 2012 financial guidance that was issued in its press
release on April 30, 2012.
About the Essure® Procedure
The Essure procedure, FDA approved since 2002, is the first
permanent birth control method that can be performed in the comfort
of a physician's office in less than 10 minutes (average
hysteroscopic time) without hormones, cutting, burning or the risks
associated with general anesthesia or tubal ligation. Soft,
flexible inserts are placed in a woman's fallopian tubes through
the cervix without incisions. Over the next three months, the body
forms a natural barrier around and through the inserts to prevent
sperm from reaching the egg. Three months after the Essure
procedure, a doctor is able to perform an Essure Confirmation Test
to confirm that the inserts are properly placed and that the
fallopian tubes are fully blocked, allowing the patient to rely
upon Essure for permanent birth control.
The Essure procedure is 99.83% effective based on five years of
follow up with zero pregnancies reported in clinical trials, making
it the most effective form of permanent birth control on the
market. Essure's 10-year commercial data tracks closely with its
five-year clinical results, and Essure has been proven and trusted
by physicians since 2002. The Essure procedure is covered in the
U.S. by most public and private insurance plans and more than
625,000 women worldwide have undergone the procedure.
About Conceptus®, Inc.
Conceptus, Inc. is a leader in the design, development and
marketing of innovative solutions in women's healthcare. The
Company manufactures and markets the Essure procedure. The Essure
procedure is available in the United States, Europe, Australia, New
Zealand, Canada, Mexico, Central and South America and the Middle
East.
Please visit www.essure.com for more information on the Essure
procedure. Patients may call the Essure Information Center at
1-877-ESSURE-1 with questions or to find a physician in their
area.
The Conceptus, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=7961
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of Section 21E of the Securities Exchange Act of 1934,
as amended, the accuracy of which is subject to known and unknown
risks and uncertainties. These forward-looking statements include,
without limitation, discussions regarding projected net sales and
adjusted earnings before interest, taxes, depreciation,
amortization and stock-based compensation ("adjusted EBITDA") for
the full year 2012, expected benefits of organizational change, and
our ability to improve and grow the business. These discussions and
other forward-looking statements included herein may differ
significantly from actual results. Such differences may be based
upon factors such as changes in strategic planning decisions by
management, re-allocation of internal resources, changes in the
impact of domestic and global macroeconomic pressures,
reimbursement decisions by insurance companies and domestic and
foreign governments, scientific advances by third parties,
litigation risks, and attempts to amend or repeal all or part of
the Patient Protection and Affordable Care Act of 2010 as amended,
as well as those factors set forth in the Company's most recent
Annual Report on Form 10-K and most recent Quarterly Report on Form
10-Q, and other filings with the Securities and Exchange
Commission. These forward-looking statements speak only as to the
date on which the statements were made. The Company undertakes no
obligation to update or revise publicly any forward-looking
statements, whether as a result of new information, future events,
or otherwise.
© 2012 Conceptus, Inc. – All rights reserved.
CONTACT: Investor and Public Relations Contact:
Cindy Klimstra
(650) 962-4032
cindy_klimstra@conceptus.com
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