AngioDynamics Appoints Senior Vice President of Business Development
AngioDynamics Appoints Senior Vice President of Business Development
QUEENSBURY, N.Y.--(BUSINESS WIRE)--July 17, 2008--AngioDynamics, Inc. (NASDAQ:ANGO), a leading provider of innovative medical devices used by interventional radiologists, nephrologists and surgeons for the minimally invasive treatment of cancer and peripheral vascular disease, announced today that it has appointed David McDonald, 47, as the Company's Senior Vice President of Business Development, a newly created position at the Company. Mr. McDonald will report directly to Eamonn Hobbs, President and CEO of AngioDynamics."We believe that David will be a tremendous asset to our management team as we work to identify new markets and product opportunities that will enhance our growth prospects in fiscal 2009 and beyond," said Mr. Hobbs. "David brings more than 25 years of equity research, investment management and banking experience, and has particular expertise in strategically analyzing long-term growth prospects for medical technology companies."
"During his tenure as an investment banker, David was instrumental in the successful completion of our IPO as well as our acquisition of RITA Medical, so he has a solid understanding of our Company, our business and our markets," Mr. Hobbs continued. "As we continue to execute on our five-step plan to drive consistent growth, we believe David's knowledge of the medical device sector, strong industry relationships and M&A experience will play an instrumental role in our efforts to expand our business opportunities to further enhance shareholder value."
Mr. McDonald joins AngioDynamics from Cornerstone Healthcare Advisors, an advisory and consulting services practice he founded in April 2005. As the company's president, Mr. McDonald provided strategic advisory, positioning and due diligence for emerging medical technology companies.
Prior to founding Cornerstone, he spent seven years in investment banking, most recently at Cain Brothers & Company, where he served as managing director and head of medical technology investment banking from 2005 until 2007. Prior to joining Cain Brothers, Mr. McDonald served as a managing director in RBC Capital Markets' medical technology investment banking practice, which he joined in 2000. During his five-year tenure at RBC, Mr. McDonald worked as the lead on AngioDynamics' initial public offering, which raised approximately $24.6 million in May 2004. He earned a B.A. in economics from St. Olaf College in Northfield, Minn.
About AngioDynamics
AngioDynamics, Inc. is a leading provider of innovative medical devices used by interventional radiologists, surgeons, and other physicians for the minimally invasive treatment of cancer and peripheral vascular disease. The Company's diverse product line includes market-leading radiofrequency ablation systems, vascular access products, angiographic products and accessories, dialysis products, angioplasty products, drainage products, thrombolytic products, embolization products and venous products. More information is available at www.angiodynamics.com.
CONTACT: AngioDynamics, Inc.
D. Joseph Gersuk, CFO, 800-772-6446 ext. 1608
jgersuk@AngioDynamics.com
or
EVC Group, Inc.
Doug Sherk, 415-896-6820 (Investor Relations)
dsherk@evcgroup.com
Donald Takaya, 415-896-6820 (Investor Relations)
dtakaya@evcgroup.com
Chris Gale, 646-201-5431 (Media)
cgale@evcgroup.com
SOURCE: AngioDynamics, Inc