EP MedSystems Announces Appointment of David Bruce as Chief Executive Officer
August 17 2006 - 6:00AM
Business Wire
EP MedSystems, Inc. (NASDAQ: EPMD), a market leader in
electrophysiology (EP) products used to diagnose and treat certain
types of cardiac rhythm disorders, today announced that David Bruce
will join the Company as President, Chief Executive Officer and a
member of the Board of Directors. Mr. Bruce will lead the further
commercialization of the Company's products and it's next stage of
growth. David Jenkins, founder and former Chief Executive 0fficer
will continue in his role EP MedSystems' Chairman. David Bruce
joins EP MedSystems following nine years of increasing
responsibility at Acuson Corporation and the Ultrasound Division of
Siemens including General Manager of the intracardiac echo (ICE)
catheter group with responsibility for both commercial operations
and research and development. In partnership with leading
electrophysiologists and interventional cardiologists, Dave's team
developed and expanded the clinical adoption of ICE for guidance of
advanced catheter-based cardiac treatments for atrial fibrillation
and atrial septal defects, leading to a five-fold increase of
installed customer sites and catheter sales revenue during the last
four years. In addition to cardiovascular ultrasound management,
David's experience includes serving as Vice President of Marketing
and Business Development for Excimer Vision Leasing, a provider and
manager of LASIK surgery systems and marketing programs for
ophthalmologists, and in Capital Markets with Bank of America. He
holds a degree in Mechanical Engineering from U.C. Berkeley and an
MBA from The Wharton School. "EP MedSystems has made significant
progress in the commercialization of its products, specifically our
ViewMate(R) intracardiac ultrasound catheter system and David Bruce
will provide the high-quality experience and strategic direction
which we need to achieve our goal of providing the most advanced
diagnostic, therapeutic and visualization products to the vast
cardiac rhythm management market." stated David Jenkins, EP
MedSystems' Chairman. "I am confident that David's strong
management, sales and marketing and ultrasound experience will
contribute to the growth of our business. " David Bruce, the
company's incoming CEO commented, "As cardiac treatments evolve
from open surgery, to minimally invasive and now catheter-based
procedures, the visualization of these procedures must also evolve
from direct vision, to key-hole cameras and now to ultrasound
catheter imaging - with its unique ability to deliver live imaging
of anatomy and devices through blood. I joined EP MedSystems
because I'm convinced that the Company is well positioned to
capitalize on the major growth in catheter-based cardiac procedures
in EP and beyond, and can generate significant value for its
shareholders." About EP MedSystems: EP MedSystems develops and
markets cardiac electrophysiology ("EP") products used to diagnose
and treat certain cardiac rhythm disorders. The Company's EP
product line includes the EP-WorkMate(R) Electrophysiology
Workstation with RPM(TM) Real-time Position Management(TM)
navigation technology, the EP-4(TM) Computerized Cardiac
Stimulator, fixed and deflectable diagnostic electrophysiology
catheters and related disposable supplies, the ALERT(R) System and
ALERT family of internal cardioversion catheters, and the
ViewMate(R) intracardiac ultrasound catheter imaging system. For
more information, visit our website at www.epmedsystems.com.
Forward Looking Statements: This Release may contain certain
statements of a forward-looking nature relating to future events or
the future financial performance of the Company. Forward-looking
statements include information concerning our possible or assumed
future results of operations and statements preceded by, followed
by or including the words "believes", "expects", "anticipates",
"intends", "plans", "estimates", "see opportunities" or similar
expressions. Such forward-looking statements are based on our
management's beliefs and assumptions and on information currently
available to our management. Such forward-looking statements are
only predictions and are subject to risks and uncertainties that
could cause actual results or events to differ materially and
adversely from the events discussed in the forward-looking
statements. Factors that could cause or contribute to such
differences include, but are not limited to, EP MedSystems' history
of losses, uncertainty of market acceptance of our products and
level of sales, uncertainty of future profitability and future
liquidity needs, possible costs, fines or penalties that may be
incurred in connection with government inquiries and investigations
and risks regarding regulatory approvals and demand for new and
existing products, as stated in the Company's Annual Report filed
on Form 10-K and Quarterly Reports filed on Form 10-Q. EP
MedSystems cautions investors and others to review the cautionary
statements set forth in this press release and in EP MedSystems'
reports filed with the Securities and Exchange Commission and
cautions that other factors may prove to be important in affecting
the EP MedSystems' business and results of operations. Readers are
cautioned not to place undue reliance on this press release and
other forward-looking statements, which speak only as of the date
of this release. EP MedSystems undertakes no obligation to publicly
release the results of any revisions to these forward-looking
statements that may be made to reflect events or circumstances
after the date of this report or to reflect the occurrence of
unanticipated events.
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