Hansen Medical Appoints Cary Vance as President and CEO
May 06 2014 - 8:00AM
Marketwired
Hansen Medical Appoints Cary Vance as President and CEO
MOUNTAIN VIEW, CA--(Marketwired - May 6, 2014) - Hansen
Medical, Inc. (NASDAQ: HNSN), a global leader in intravascular
robotics, today announced that its Board of Directors has appointed
industry veteran Cary Vance as the Company's President and Chief
Executive Officer, and a member of the Board of Directors,
effective as of May 23, 2014.
Michael Eagle, Chairman of the Board at Hansen Medical,
commented, "The Board is delighted to welcome Cary as Hansen
Medical's new CEO. Cary has a strong track record in the
commercialization of innovative medical devices with capital
equipment companies and I am confident that he will lead Hansen
towards delivering significant benefits to patients and healthcare
providers across the globe."
Cary Vance has held executive roles at Teleflex, Inc. (NYSE:
TFX), a medical device manufacturer, since February 2010, most
recently as President of Anesthesia & Respiratory. Prior to
joining Teleflex, Mr. Vance held executive leadership positions at
Covidien plc, including having most recently served as the Vice
President, Interventional Oncology. Prior to Covidien, Mr. Vance
served in a series of roles with progressive responsibility at GE
Healthcare from 1997 to 2007, principally in diagnostic imaging
sales and sales management.
"I am privileged to be joining the Company at such an exciting
and important stage of its evolution," stated Mr.
Vance. "Hansen Medical's intravascular robotics platforms and
related products are truly innovative and their potential
applications represent a compelling growth opportunity for the
Company. I look forward to working with the talented group of
Hansen Medical employees, leadership team and Board of Directors,
as we continue to demonstrate the breadth of capabilities of our
robotic platforms and further validate the clinical and economic
benefits of our technologies."
Christopher P. Lowe, a board member since before the Company's
IPO who has been serving as the Company's interim CEO, stated, "I
am thrilled to have Cary join the Company. Throughout his
career, he has delivered above average revenue growth while also
driving margin expansion opportunities. I am confident that
his commercial expertise and leadership will be a tremendous asset
for the Company."
About Hansen Medical, Inc. Hansen Medical, Inc., based
in Mountain View, California, is a global leader in Intravascular
Robotics, developing products and technology designed to enable the
accurate positioning, manipulation and control of catheters and
catheter-based technologies. The Company's Magellan™ Robotic
System, 9Fr Magellan™ Robotic Catheter, Magellan™ 6Fr Robotic
Catheter, and related accessories are intended to facilitate
navigation to anatomical targets in the peripheral vasculature and
subsequently provide a conduit for manual placement of therapeutic
devices. The Magellan 9Fr Robotic Catheter has undergone both CE
marking and 510(k) clearance and is commercially available in the
European Union, and the U.S. The Magellan 6Fr Robotic Catheter has
undergone 510(k) clearance in the U.S. and is in limited release
for the next several months in anticipation of more wide-scale
commercially availability later in 2014. In the European Union, the
Company's Sensei® X Robotic Catheter System and Artisan® and
Artisan Extend® Control Catheters are cleared for use during
electrophysiology (EP) procedures, such as guiding catheters in the
treatment of atrial fibrillation (AF), and the Lynx® Robotic
Ablation Catheter is cleared for the treatment of AF. This robotic
catheter system is compatible with fluoroscopy, ultrasound, 3D
surface map and patient electrocardiogram data. In the U.S., the
Company's Sensei X Robotic Catheter System and Artisan and Artisan
Extend Control Catheters are cleared by the U.S. Food and Drug
Administration for manipulation and control of certain mapping
catheters in EP procedures. In the U.S., the Sensei X Robotic
Catheter System is not approved for use in guiding ablation
procedures; this use remains experimental. The U.S. product
labeling therefore provides that the safety and effectiveness of
the Sensei X Robotic Catheter System and Artisan and Artisan Extend
Control Catheter for use with cardiac ablation catheters in the
treatment of cardiac arrhythmias, including AF, have not been
established. Additional information can be found at
www.hansenmedical.com.
Forward-Looking Statements This press release contains
forward-looking statements regarding, among other things,
statements relating to goals, plans, objectives, milestones and
future events. All statements, other than statements of historical
fact, are statements that could be deemed forward-looking
statements, including statements containing the words "plan,"
"expects," "potential," "believes," "goal," "estimate,"
"anticipates," and similar 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 and other factors that may cause actual
results to differ materially from the information expressed or
implied by forward-looking statements made in this press release.
Examples of such statements include statements regarding the
potential benefits of our robotic systems for hospitals, patients
and physicians and expectations for the timing of the more
wide-scale commercial availability of the Magellan 6Fr Robotic
Catheter. Important factors that could cause actual results to
differ materially from those indicated by such forward-looking
statements include, among others: engineering, regulatory,
manufacturing, sales and customer service challenges in developing
new products and entering new markets; potential safety and
regulatory issues that could slow or suspend our sales; the effect
of credit, financial and economic conditions on capital spending by
our potential customers; the uncertain timelines for the sales
cycle for newly introduced products; the rate of adoption of our
systems and the rate of use of our catheters; the scope and
validity of intellectual property rights applicable to our
products; competition from other companies; our ability to recruit
and retain key personnel; our ability to manage expenses and cash
flow, and obtain additional financing; and other risks more fully
described in the "Risk Factors" section of our Annual Report on
Form 10-K for the year ended December 31, 2013 filed with the SEC
on March 13, 2014 and the risks discussed in our other reports
filed with the SEC. Given these uncertainties, you should not place
undue reliance on the forward-looking statements in this press
release. We undertake no obligation to revise or update information
herein to reflect events or circumstances in the future, even if
new information becomes available.
"Artisan Extend," "Hansen Medical," "Hansen Medical (with Heart
Design)," "Heart Design (Logo)," "Sensei," "Lynx," "Artisan,"
"Instinctive Motion," "Fine Force Technology," "IntelliSense" are
registered trademarks, and "Magellan" and "Hansen Medical Magellan"
are trademarks of Hansen Medical, Inc. in the U.S. and other
countries. "Covidien" is a registered trademark of Covidien plc and
"Teleflex" is a registered trademark of Teleflex, Inc.
Investor Contacts: Peter J. Mariani Chief Financial Officer
Hansen Medical, Inc. 650.404.5800 Westwicke Partners, LLC. Mark
Klausner or Mike Piccinino, CFA 443.213.0500 Email Contact
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