MAKO Surgical Corp. Announces Addition to Board of Directors
August 25 2010 - 4:05PM
MAKO Surgical Corp. (Nasdaq:MAKO), a medical device company that
markets both its RIO® robotic arm interactive orthopedic surgical
platform and proprietary RESTORIS® implants for minimally invasive
orthopedic knee procedures known as MAKOplasty®, today announced
that Richard R. Pettingill has joined the Company's Board of
Directors.
"Dick is a significant and exciting addition to the MAKO Board,"
said Maurice R. Ferré, M.D., MAKO's President and Chief Executive
Officer. "His experience in healthcare delivery should prove
valuable to MAKO in managing our growth in an ever-changing
healthcare landscape."
Mr. Pettingill served as the President and Chief Executive
Officer of Allina Hospitals and Clinics, Minnesota's largest
healthcare organization, from 2002 until his retirement in
2009. While in this role, he also served on the board of
directors of the Minnesota Hospital Association and the Minnesota
Business Partnership. Prior to joining Allina Hospitals and
Clinics, Mr. Pettingill served as Executive Vice President and
Chief Operating Officer of Kaiser Foundation Health Plans and
Hospitals from 1996 to 2002. From 1991 to 1995, he served as
President and Chief Executive Officer of Camino Healthcare, a
community based integrated delivery system. Mr. Pettingill is
a director and member of the compensation and quality, compliance
and ethics committees of Tenent Healthcare Corporation. Mr.
Pettingill received a bachelor's degree from San Diego State
University and a master's degree in health care administration from
San Jose State University. He is currently a 2010 Fellow in the
Advanced Leadership Initiative program at Harvard University.
About MAKO Surgical Corp.
MAKO Surgical Corp. is a medical device company that markets
both its RIO® Robotic-Arm Interactive Orthopedic system and its
proprietary RESTORIS® implants for minimally invasive orthopedic
knee procedures. The MAKO RIO is a surgeon-interactive tactile
surgical platform that incorporates a robotic arm and
patient-specific visualization technology and prepares the knee
joint for the insertion and alignment of MAKO's resurfacing
RESTORIS implants through a minimal incision. The FDA-cleared RIO
system allows surgeons to provide a precise, consistently
reproducible tissue-sparing, bone resurfacing procedure called
MAKOplasty® to a large, yet underserved patient population
suffering from early to mid-stage osteoarthritic knee disease. MAKO
has an intellectual property portfolio of more than 250 owned or
licensed patents and patent applications relating to the areas of
robotics, haptics, computer assisted surgery and implants.
Additional information can be found at www.makosurgical.com.
Forward-Looking Statements
This press release contains forward-looking statements
regarding, among other things, statements related to expectations,
goals, plans, objectives and future events. MAKO intends such
forward-looking statements to be covered by the safe harbor
provisions for forward-looking statements contained in Section 21E
of the Securities Exchange Act of 1934 and the Private Securities
Reform Act of 1995. In some cases, forward-looking statements can
be identified by the following words: "may," "will," "could,"
"would," "should," "expect," "intend," "plan," "anticipate,"
"believe," "estimate," "predict," "project," "potential,"
"continue," "ongoing" or the negative of these terms or other
comparable terminology, although not all forward-looking statements
contain these words. These statements are based on the current
estimates and assumptions of our management as of the date of this
press release and are subject to risks, uncertainties, changes in
circumstances, assumptions and other factors that may cause actual
results to differ materially from those indicated by
forward-looking statements, many of which are beyond MAKO's ability
to control or predict. Such factors, among others, may have a
material adverse effect on MAKO's business, financial condition and
results of operations and may include the potentially significant
impact of a continued economic downturn or delayed economic
recovery on the ability of MAKO's customers to secure adequate
funding, including access to credit, for the purchase of MAKO's
products or cause MAKO's customers to delay a purchasing decision,
changes in competitive conditions and prices in MAKO's markets,
unanticipated issues relating to intended product launches,
decreases in sales of MAKO's principal product lines, increases in
expenditures related to increased or changing governmental
regulation or taxation of MAKO's business, unanticipated issues in
securing regulatory clearance or approvals for new products or
upgrades or changes to MAKO's current products, the impact of the
recently enacted United States healthcare reform legislation on
hospital spending, reimbursement, and the taxing of medical device
companies, loss of key management and other personnel or inability
to attract such management and other personnel and unanticipated
intellectual property expenditures required to develop, market, and
defend MAKO's products. These and other risks are described in
greater detail under Item 1A, "Risk Factors," in MAKO's annual
report on Form 10-K for the year ended December 31, 2009 filed with
the Securities and Exchange Commission on March 10, 2010 and
quarterly report on Form 10-Q for the quarter ended March 31, 2010
filed with the Securities and Exchange Commission on May 7, 2010.
Given these uncertainties, undue reliance should not be placed on
these forward-looking statements. MAKO does not undertake any
obligation to release any revisions to these forward-looking
statements publicly to reflect events or circumstances after the
date of this press release or to reflect the occurrence of
unanticipated events.
"MAKOplasty®," "RESTORIS®," and "RIO®," as well as the "MAKO"
logo, whether standing alone or in connection with the words "MAKO
Surgical Corp." are trademarks of MAKO Surgical Corp.
CONTACT: MAKO Surgical Corp.
Investors:
Susan M. Verde
954-927-2044 x349
sverde@makosurgical.com
Westwicke Partners
Mark Klausner
410-321-9650
mark.klausner@westwickepartners.com
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