WEST CHESTER, Ohio--(BUSINESS WIRE)--Nov. 1, 2012--
AtriCure, Inc. (Nasdaq: ATRC), a medical device company and a leader in
cardiac surgical ablation systems for the treatment of atrial
fibrillation, or AF, and systems for the exclusion of the left atrial
appendage, today announced that Michael Carrel has been appointed
President and Chief Executive Officer of the Company, effective
immediately.
Michael H. Carrel, AtriCure, Inc. President and Chief Executive Officer (Photo: Business Wire)
Mike Carrel was most recently the President and Chief Executive Officer
of Vital Images, a publicly-traded medical imaging software company
(Nasdaq: VTAL), from 2008 until it was sold to Toshiba in 2011. He
stayed on as Chief Executive Officer of the new business unit within
Toshiba until 2012 when the integration was successfully completed. He
originally joined Vital Images in January 2005 as Chief Operating and
Financial Officer. During his time at Vital, Mike worked extensively
with surgeons, cardiologists, radiologists, oncologists and neurologists
in developing and taking new products to market. Under his leadership,
the company grew revenue and profitability, increased global market
share, expanded its presence to over 90 countries and raised $100
million in equity financing.
"Mike is an industry veteran with an excellent track record for growing
organizations, driving corporate development activities and successfully
building commercial platforms to create value for shareholders," said
Dick Johnston, Chairman of AtriCure’s Board of Directors. "We believe
that his leadership and operational expertise will lead AtriCure to
enhanced profitability and success as we seek to continue to grow our
market share in the US and expand our international business. We welcome
Mike to AtriCure and are confident that the Company can continue to
build from its solid foundation and strong growth prospects."
"I am pleased to be joining AtriCure, a Company with an established and
growing presence in atrial fibrillation and stroke prevention, a
talented workforce and well-established relationships with its clinical
partners and customers," said Mr. Carrel. "I look forward to working
with the Board and the management team to strengthen the Company’s
financial and operational performance, drive the commercialization of
the current and future pipeline and position AtriCure to achieve its
full potential, creating value for shareholders."
About AtriCure, Inc.
AtriCure, Inc. is a medical device company and a leader in developing,
manufacturing and selling innovative cardiac surgical ablation systems
designed to create precise lesions, or scars, in cardiac, or heart,
tissue for the treatment of atrial fibrillation, or AF, and systems for
the exclusion of the left atrial appendage. The Company believes
cardiothoracic surgeons are adopting its ablation products for the
treatment of AF during concomitant open-heart surgical procedures and
sole-therapy minimally invasive procedures. AF affects more than 5.5
million people worldwide and predisposes them to a five-fold increased
risk of stroke. The FDA has not cleared or approved certain AtriCure
products for the treatment of AF or a reduction in the risk of stroke.
Forward-Looking Statements
This press release contains “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements that address activities,
events or developments that AtriCure expects, believes or anticipates
will or may occur in the future, such as earnings estimates, other
predictions of financial performance, launches by AtriCure of new
products and market acceptance of AtriCure’s products. Forward-looking
statements are based on AtriCure’s experience and perception of current
conditions, trends, expected future developments and other factors it
believes are appropriate under the circumstances and are subject to
numerous risks and uncertainties, many of which are beyond AtriCure’s
control. These risks and uncertainties include the rate and degree of
market acceptance of AtriCure’s products, AtriCure’s ability to develop
and market new and enhanced products, the timing of and ability to
obtain and maintain regulatory clearances and approvals for its
products, the timing of and ability to obtain reimbursement of
procedures utilizing AtriCure’s products, competition from existing and
new products and procedures or AtriCure’s ability to effectively react
to other risks and uncertainties described from time to time in
AtriCure’s SEC filings, such as fluctuation of quarterly financial
results, reliance on third party manufacturers and suppliers, litigation
or other proceedings, government regulation and stock price volatility.
AtriCure does not guarantee any forward-looking statement, and actual
results may differ materially from those projected. AtriCure undertakes
no obligation to publicly update any forward-looking statement, whether
as a result of new information, future events or otherwise.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50463124&lang=en
Source: AtriCure, Inc.
AtriCure, Inc.
Andy Wade, Vice President, Finance,
513-755-4564
awade@atricure.com
or
Investor
Relations Contact:
Westwicke Partners
Lynn Pieper,
415-202-5678
Lynn.pieper@westwicke.com
