ALBANY, N.Y.--(BUSINESS WIRE)--
The Board of Directors of AngioDynamics (NASDAQ:ANGO), a leading
provider of innovative, minimally invasive medical devices for vascular
access, surgery, peripheral vascular disease and oncology, appointed
Joseph M. DeVivo President and Chief Executive Officer, effective Sept.
7, 2011. Mr. DeVivo most recently served as Global President of Smith &
Nephew Orthopedics (LSE: SN, NYSE: SNN) and previously served as
President and Chief Executive Officer of RITA Medical Systems. He was
the Board of Directors' top candidate since it began its search. Mr.
DeVivo will be a nominee to join AngioDynamics' Board of Directors at
the Company's next annual meeting.
Mr. DeVivo, 44, succeeds Scott Solano, who was named interim CEO in June
2011. Mr. Solano will return to his prior role as AngioDynamics' Senior
Vice President and Chief Technology Officer.
Since he joined Smith & Nephew in 2007, Mr. DeVivo successfully led its
$2 billion global orthopedics business to record growth through emerging
market penetration in China, India and Russia, new product platform
launches, strategy creation for the company's VISIONAIRE™
patient-matched technology platform and the successful creation and
implementation of the VERILAST™ marketing campaign for hips and knees.
Mr. DeVivo pioneered the concept of the laboratory tested 30-year wear
claim for VERILAST. As a result, he spearheaded an award-winning
VERILAST direct-to-consumer campaign creating record growth in the
company's knee business. Mr. DeVivo leaves Smith & Nephew the fastest
growing global business of the big five Orthopedic companies.
Previously, Mr. DeVivo was CEO and President of RITA Medical Systems
where he transitioned RITA from an ablation company to the leader in
medical device oncology by developing a diversified line of medical
devices for cancer therapy through research and development,
acquisitions and licensing. AngioDynamics acquired RITA in 2006. RITA's
products formed much of AngioDynamics' Oncology/Surgery division, which
has been a key driver of the company's growth.
"Joe has been our top choice since we began our search," said
AngioDynamics Chairman Vincent Bucci. "Smith & Nephew recently reported
that its Orthopedic business had the fastest growth rate of all its
business segments again during its most recent quarter while continuing
to drive share. We are thrilled to have recruited the architect of this
growth. Joe has the track record and leadership expertise to help
AngioDynamics capitalize on the full potential of the NanoKnife®
System, drive the successful launch of important new products, execute
our acquisition strategy, propel the company's international growth
plans, enhance our competitive position, and drive the company's
profitability and shareholder value. Given his prior leadership of RITA
Medical Systems, Joe already possesses the background and experience in
the fastest growing market for AngioDynamics, which is oncology. Joe is
a proven and enormously talented executive, and we are proud to welcome
him to our company."
"AngioDynamics is a company with many strengths, and I look forward to
working with the team to tackle our challenges, maximize our
opportunities and drive growth," said Mr. DeVivo. "Among the strengths
that I see are the very promising NanoKnife System, a robust R&D
pipeline with differentiated products, a strong presence in two key and
growing markets, vascular and oncology, a strong balance sheet and
significant resources that can be invested to expand growth
opportunities and shareholder returns."
"On behalf of AngioDynamics' Board of Directors, I want to thank Scott
Solano for his willingness to serve, and effectiveness, during our
leadership transition," Mr. Bucci added. "As interim Chief Executive
Officer, Scott brought new focus on and stability to the U.S. vascular
business, which is vital to our future success, and led the effort that
is generating momentum. We look forward to his continued leadership as
Chief Technology Officer."
Prior to RITA Medical Systems, Mr. DeVivo served as President, Chief
Operating Officer and Director of Computer Motion Incorporation (CMI),
leading a turnaround and successful merger with Intuitive Surgical, Inc.
Mr. DeVivo previously served as Vice President and General Manager of a
$350 million division of TYCO International's Healthcare Business, U.S.
Surgical/Davis and Geck Sutures, where was responsible for sales,
marketing, research and development, and finance in its vascular
business. During his nine year tenure at U.S. Surgical, he held various
management positions related to sales and marketing, supervising
numerous product launches and implementing new sales and marketing
Mr. DeVivo earned his Bachelor of Science degree in Business
Administration from the E. Clairborne Robins School of Business at the
University of Richmond in 1989.
AngioDynamics, Inc. is a leading provider of innovative, minimally
invasive medical devices used by professional healthcare providers for
vascular access, surgery, peripheral vascular disease and oncology.
AngioDynamics' diverse product lines include market-leading ablation
systems, vascular access products, angiographic products and
accessories, angioplasty products, drainage products, thrombolytic
products, embolization products and venous products. More information is
available at www.AngioDynamics.com.
This release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. All statements
regarding AngioDynamics' expected future financial position, results of
operations, cash flows, business strategy, budgets, projected costs,
capital expenditures, products, competitive positions, growth
opportunities, plans and objectives of management for future operations,
as well as statements that include the words such as "expects,"
"reaffirms" "intends," "anticipates," "plans," "believes," "seeks,"
"estimates," "optimistic," or variations of such words and similar
expressions, are forward-looking statements. These forward looking
statements are not guarantees of future performance and are subject to
risks and uncertainties. Investors are cautioned that actual events or
results may differ from AngioDynamics' expectations. Factors that may
affect the actual results achieved by AngioDynamics include, without
limitation, the ability of AngioDynamics to develop its existing and new
products, technological advances and patents attained by competitors,
future actions by the FDA or other regulatory agencies, domestic and
foreign health care reforms and government regulations, results of
pending or future clinical trials, overall economic conditions, the
results of on-going litigation, the effects of economic, credit and
capital market conditions, general market conditions, market acceptance,
foreign currency exchange rate fluctuations, the effects on pricing from
group purchasing organizations and competition, the ability of
AngioDynamics to integrate purchased businesses, as well as the risk
factors listed from time to time in AngioDynamics' SEC filings,
including but not limited to its Annual Report on Form 10-K for the year
ended May 31, 2011. AngioDynamics does not assume any obligation to
publicly update or revise any forward-looking statements for any reason.
In the United States, NanoKnife has been cleared by the FDA for use in
the surgical ablation of soft tissue. NanoKnife has not been cleared for
the treatment or therapy of a specific disease or condition. This
document may discuss the use of NanoKnife for specific clinical
indications for which it is not cleared in the United States at this
D. Joseph Gersuk,
CFO, 800-772-6446 x1608
EVC Group, Inc.
EVC Group, Inc.
Source: AngioDynamics, Inc.
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