Spectranetics Names Udo Scheiner as Senior Vice President, International Operations
March 24 2016 - 4:00PM
The Spectranetics Corporation (NASDAQ:SPNC) today announced that
Udo Scheiner has been named Senior Vice President, International
Operations, effective March 23rd, 2016. In this role, Mr. Scheiner
will report directly to Scott Drake, President and Chief Executive
Officer, and will be based in Zurich, Switzerland.
Mr. Scheiner brings more than 20 years of extensive
industry leadership to Spectranetics. He has spearheaded major
operations focused on both Vascular Intervention and CRM, and was
most recently a Divisional Vice President, EMEA for Abbott
Laboratories. Prior to joining Abbott, he held leadership positions
at Boston Scientific, including Regional Vice President and General
Manager of the Asia Pacific Region, and Vice President and General
Manager of Germany.
“Global expansion is an important part of our
growth strategy, and this is a significant step in the process,”
said Scott Drake, President and Chief Executive Officer. "Udo’s
expertise in international markets and knowledge of our space makes
him an ideal fit, and we are very excited to have him on our
team.”
About
Spectranetics
The Spectranetics Corporation develops,
manufactures, markets and distributes medical devices used in
minimally invasive procedures within the cardiovascular system. The
Company's products are sold in over 65 countries and are used to
treat arterial blockages in the heart and legs and in the removal
of pacemaker and defibrillator leads.
The Company's Vascular Intervention (VI) products
include a range of laser catheters for ablation of blockages in
arteries above and below the knee, the AngioSculpt® scoring balloon
used in both peripheral and coronary procedures, and the Stellarex
drug-coated balloon peripheral angioplasty platform, which received
European CE mark approval in December 2014. The Company also
markets support catheters to facilitate crossing of peripheral and
coronary arterial blockages, and retrograde access and guidewire
retrieval devices used in the treatment of peripheral arterial
blockages, including chronic total occlusions. The Company markets
aspiration and cardiac laser catheters to treat blockages in the
heart.
The Lead Management (LM) product line includes
excimer laser sheaths, dilator sheaths, mechanical sheaths and
accessories for the removal of pacemaker and defibrillator cardiac
leads. For more information, visit www.spectranetics.com.
Safe Harbor Statement
This news release contains forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, Section 21E of the Securities Exchange Act of 1934 and the
Private Securities Litigation Reform Act of 1995. You can identify
these statements because they do not relate strictly to historical
or current facts. Such statements may include words such as
“anticipate,” “will,” “estimate,” “expect,” “look forward,”
“strive,” “project,” “intend,” “should,” “plan,” “believe,” “hope,”
“enable,” “potential,” and other words and terms of similar meaning
in connection with any discussion of, among other things, future
operating or financial performance, strategic initiatives and
business strategies, clinical trials and regulatory approvals,
regulatory or competitive environments, outcome of litigation, our
intellectual property and product development. These
forward-looking statements include, but are not limited to,
statements regarding our competitive position, product development
and commercialization schedule, expectation of continued growth and
the reasons for that growth, growth rates, strength, integration
and product launches, and 2016 outlook and projected results
including projected revenue and expenses, net loss and gross
margin. Such statements are based on current assumptions that
involve risks and uncertainties that could cause actual outcomes
and results to differ materially. You are cautioned not to place
undue reliance on these forward-looking statements and to note they
speak only as of the date of this release. These risks and
uncertainties may include financial results differing from
guidance, inability to successfully integrate AngioScore and
Stellarex into our business, market acceptance of excimer laser
atherectomy technology and our vascular intervention and lead
management products, lack of cash necessary to satisfy our cash
obligations under our outstanding 2.625% Convertible Senior Notes
due 2034 and our term loan and revolving loan facilities, our debt
adversely affecting our financial health and preventing us from
fulfilling our debt service and other obligations, increasing price
and product competition, increased pressure on expense levels
resulting from expanded sales, marketing, product development and
clinical activities, uncertain success of our strategic direction,
dependence on new product development, loss of key personnel,
uncertain success of or delays in our clinical trials, costs of and
adverse results in any ongoing legal proceeding, or any legal
proceeding in which we may become involved, adverse impact to our
business of the health care reform and related legislation or
regulations, including changes in reimbursements, continued or
worsening adverse conditions in the general domestic and global
economic markets and continued volatility and disruption of the
credit markets, which affects the ability of hospitals and other
health care systems to obtain credit and may impede our access to
capital, intellectual property claims of third parties,
availability of inventory from suppliers, adverse outcome of FDA
inspections, the receipt of FDA clearance and other regulatory
approvals to market new products or applications and the timeliness
of any clearance and approvals, market acceptance of new products
or applications, product defects, ability to manufacture sufficient
volumes to fulfill customer demand, availability of vendor-sourced
components at reasonable prices, unexpected delays or costs
associated with any planned improvements to our manufacturing
processes, and share price volatility due to the initiation or
cessation of coverage, or changes in ratings, by securities
analysts. For a further list and description of such risks and
uncertainties that could cause our actual results, performance or
achievements to materially differ from any anticipated results,
performance or achievements, please see our previously filed SEC
reports, including those risks set forth in our 2015 Annual Report
on Form 10-K. We disclaim any intention or obligation to update or
revise any financial or other projections or other forward-looking
statements, whether because of new information, future events or
otherwise.
Investor Relations Contacts
Zach Stassen
Investor.relations@spnc.com
(719) 447-2292
Michaella Gallina
Investor.relations@spnc.com
(719) 246-1713
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