FoxHollow Technologies Increases Depth of Management Team With Two Senior Vice Presidents
September 18 2006 - 7:00AM
PR Newswire (US)
Two Executives Bring Nearly 40 Years of Healthcare Industry
Management Experience to FoxHollow REDWOOD CITY, Calif., Sept. 18
/PRNewswire-FirstCall/ -- FoxHollow Technologies, Inc.,
(NASDAQ:FOXH), today announced the hiring of two integral additions
to its management team. The Company has named Ronald Songer as
Senior Vice President of Research and Development, and Robert Wood
as Senior Vice President of Operations and Quality. Wood and Songer
collectively bring nearly 40 years of management experience in the
healthcare industry to FoxHollow. As Senior Vice President of
Research and Development, Songer will oversee the continuing
development and advancement of new technologies for FoxHollow's
product line to treat arterial disease, such as the recently
announced NightHawk(TM) System and the thrombus removal products
obtained through the Company's acquisition of Kerberos Proximal
Systems. This is a new position at the Company. Songer joins the
Company after most recently serving as Divisional Vice President,
Research and Development, at Abbott Vascular. He has 20 years of
medical device experience ranging from early stage technology
companies to global corporate entities. Songer has held various
management roles at companies including Perclose, Abbott
Laboratories, Spectranetics and Guidant. Songer holds a Bachelor of
Science degree in Nuclear Engineering from the University of
California at Santa Barbara and a Master of Science degree in
Mechanical Engineering from the University of California at
Berkeley. As Senior Vice President of Operations and Quality,
Robert Wood will be responsible for leading FoxHollow's global
operations initiatives, including manufacturing, quality assurance
and facilities. Wood will oversee and support the production of
FoxHollow's medical device products and will continue to maintain
and further enhance the Company's manufacturing efficiencies. This
position was previously held by Ronald Steckel, FoxHollow's current
Chief Operating Officer. Previously, Wood served as Vice President
of Operations for Inamed, a wholly-owned subsidiary of Allergan,
which markets innovative solutions for the medical aesthetics and
obesity intervention markets. Wood has extensive general management
experience within the medical device and pharmaceutical industries
and has created and implemented successful business strategies with
companies such as Keravision, Allergan and Abbott Laboratories.
Wood holds a Bachelor of Science in Mechanical Engineering from
Texas A&M University. "We are extremely pleased with the
addition of Ron Songer and Robert Wood to the FoxHollow team. Their
combined expertise will help strengthen our core competencies by
providing an increased breadth of medical device and healthcare
industry experience," commented John Simpson, Ph.D., M.D., the
founder and Chief Executive Officer of FoxHollow. "Their leadership
in research and development and operations will be critical to our
goal of expanding our product portfolio both through internal
development and external partnering." About FoxHollow Technologies,
Inc. FoxHollow Technologies, Inc. develops and markets minimally
invasive plaque excision devices for the treatment of peripheral
artery disease (PAD). An estimated 12 million people in the U.S.
are thought to suffer from PAD, with 2.5 million patients currently
diagnosed. PAD results from plaque that accumulates in the arteries
and blocks blood flow in the legs. These blockages can result in
severe pain for patients and very limited physical mobility. The
company's SilverHawk system is a minimally invasive method of
removing the obstructive plaque and restoring blood flow to the
legs and feet. For more information, please visit our website at
http://www.foxhollowtech.com/ . Forward Looking Statements This
press release contains forward-looking statements within the
meaning of the U.S. Private Securities Litigation Reform Act of
1995. Statements in this press release regarding FoxHollow's
business that are not historical facts may be "forward-looking
statements" that involve risks and uncertainties. Specifically,
statements concerning our plans to expand our product offerings and
enhance manufacturing efficiency are forward-looking statements.
Forward-looking statements are based on management's current,
preliminary expectations and are subject to risks and
uncertainties, which may cause FoxHollow's actual results to differ
materially from the statements contained herein. Risks and
uncertainties are included under the captions, "Managements'
Discussion and Analysis of Financial Condition and Results of
Operations," and "Risk Factors," in our quarterly report on Form
10-Q as filed with the Securities and Exchange Commission on August
9, 2006, which is on file with the SEC and available on our
investor relations website at http://investor.foxhollowtech.com/
and on the SEC's website at http://www.sec.gov/ . Undue reliance
should not be placed on forward-looking statements, which speak
only as of the date they are made. FoxHollow undertakes no
obligation to update publicly any forward-looking statements to
reflect new information, events or circumstances after the date
they were made, or to reflect the occurrence of unanticipated
events. Contacts: Investor Relations: Matt Ferguson Chief Financial
Officer 650-421-8449 Media Relations: Robin Gaffney 650-421-8614
DATASOURCE: FoxHollow Technologies, Inc. CONTACT: investors, Matt
Ferguson, Chief Financial Officer, +1-650-421-8449, or , or media,
Robin Gaffney, +1-650-421-8614, or , both of FoxHollow
Technologies, Inc. Web site: http://www.foxhollowtech.com/
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