Invuity Appoints Andy Sale as SVP of Global Sales
January 05 2017 - 4:20PM
Announces preliminary 2016 fourth quarter and
full-year revenueReiterates 2017 revenue guidance
Invuity, Inc. (NASDAQ:IVTY), a leading surgical photonics
company, today announced the appointment of Andy Sale as Senior
Vice President of Global Sales. Mr. Sale brings over 17 years
of experience in the medical device industry.
“Our organization will be strengthened by the addition of Andy
Sale. Andy is a proven sales leader with deep experience in
building high-performance sales teams and driving significant
revenue growth,” said President and CEO Philip Sawyer. “Andy’s
experience will be particularly impactful as we continue to scale
our business across multiple product lines.”
Mr. Sale has over 17 years of medical device sales experience
including 11 years at Intuitive Surgical, where he served in
a variety of roles including Sales Manager, Sales Director, Area
Vice President, Regional Vice President and in his last role was
responsible for all the U.S. capital business. Prior to
Intuitive Surgical, Mr. Sale spent six years at Johnson &
Johnson where he provided sales and sales leadership in key
specialty companies inside of Ethicon to drive the growth of
emerging products.
Preliminary 2016 Revenue
The Company announced that based on preliminary unaudited
financial results, it expects total revenue for the fourth quarter
ended December 31, 2016 to be in the range of $9.1 million to $9.3
million and full-year 2016 revenue to be in the range of $32.2
million to $32.4 million.
Business Outlook
The Company reiterated revenue guidance for 2017 in the range of
$42 million to $44 million.
About Invuity®
Invuity, Inc. is a medical technology company focused on
developing and marketing advanced photonics devices to improve the
ability of surgeons to illuminate and visualize the surgical cavity
during open minimally invasive and minimal access surgery. The
company's patented Intelligent Photonics™ technology enables
enhanced surgical precision, efficiency and safety by providing
superior visualization. Clinical applications include breast and
thyroid oncology, plastic reconstructive, spine, orthopedic,
cardiothoracic and general surgery among others. Invuity is
headquartered in San Francisco, CA. For more information, visit
www.invuity.com.
Forward-Looking Statements
This announcement contains forward-looking statements that
involve risks and uncertainties, including statements regarding
expected financial results for the fourth quarter and full year
2016, financial projections for 2017, future product introductions,
future sales and marketing initiatives and market opportunities.
The Company’s estimated fourth quarter and annual financial results
for 2016 are preliminary and subject to adjustment in the ongoing
review and audit procedures by the Company’s external auditors.
Actual results could differ materially from those projected in the
forward-looking statements as a result of certain risk factors,
including, but not limited to: fluctuations in demand or failure to
gain market acceptance for the Company's devices; the Company's
ability to demonstrate to and gain approval from hospitals to use
the Company's devices; the highly competitive business environment
for surgical medical devices; the Company's ability to sell its
devices at prices that support its current business strategies;
difficulty forecasting future financial performance; protection of
the Company's intellectual property; and compliance with necessary
regulatory clearances or approvals. The Company undertakes no
obligation to update the forward-looking information in this
release. More information about potential factors that could affect
the Company's business and financial results is included in its
filings with the Securities and Exchange Commission, including,
without limitation, under the captions: "Management's Discussion
and Analysis of Financial Condition and Results of Operations," and
"Risk Factors," which are on file with the Securities and Exchange
Commission.
CONTACT:
Company Contact:
Jim Mackaness
Chief Financial Officer
Invuity, Inc.
415-655-2129
Investors:
Mark Klausner
Westwicke Partners
443-213-0501
irdept@invuity.com
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