Bacterin International Holdings, Inc. (NYSE MKT: BONE), a leader in the
development of revolutionary bone graft material and coatings for
medical applications, today announced it will begin the process of
identifying a successor to the Company’s Chief Executive Officer and
President, Guy Cook. Mr. Cook will remain Chief Executive Officer and
President until a successor is named. Thereafter, Mr. Cook will continue
to work with the Company as a consultant and will continue to serve as
Chairman of the Board.
“When starting this company over 15 years ago, we focused on utilizing
the best technology for improving our products. It is extremely
rewarding to see Bacterin evolve into a leader in regenerative
biologics. We have created an expanding, diversified product portfolio
that has positioned the Company for continued growth,” said Mr. Cook.
Mr. Cook oversaw all aspects of the company from its inception to record
revenues of $ 33 million in 2012. After leaving Montana State University
in 1998, he successfully transformed the business from a small contract
research group into a publicly traded company with over 150 employees
and sales in over 15 countries.
Mr. Cook stated, “It has been very rewarding to see the growth in our
product base and the evolution of our employees and managers over the
years. The timing is right to begin this process and I feel fortunate to
have had the opportunity to lead the company during a period of
fantastic growth. There remains a tremendous market opportunity for our
business; both domestically and internationally. The successor to this
role will have the skill set to navigate this evolving healthcare
environment and thereby transition the company towards the next phase of
growth.”
About Bacterin International Holdings
Bacterin International Holdings, Inc. (NYSE MKT: BONE) develops,
manufactures and markets biologics products to domestic and
international markets. Bacterin's proprietary methods optimize the
growth factors in human allografts to create the ideal stem cell
scaffold to promote bone, subchondral repair and dermal growth. These
products are used in a variety of applications including enhancing
fusion in spine surgery, relief of back pain, promotion of bone growth
in foot and ankle surgery, promotion of cranial healing following
neurosurgery and subchondral repair in knee and other joint surgeries.
Bacterin's Medical Device division develops, employs, and licenses
coatings for various medical device applications. For further
information, please visit www.bacterin.com.
Important Cautions Regarding Forward-looking Statements
This news release contains certain disclosures that may be deemed
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995 that are subject to significant risks and
uncertainties. Forward-looking statements include statements that are
predictive in nature, that depend upon or refer to future events or
conditions, or that include words such as "continue," "efforts,"
"expects," "anticipates," "intends," "plans," "believes," "estimates,"
"projects," "forecasts," "strategy," "will," "goal," "target,"
"prospects," "potential," "optimistic," "confident," "likely,"
"probable" or similar expressions or the negative thereof. Statements of
historical fact also may be deemed to be forward-looking statements. We
caution that these statements by their nature involve risks and
uncertainties, and actual results may differ materially depending on a
variety of important factors, including, among others: the Company's
ability to launch beta and full product releases; the Company's ability
to meet its obligations under existing and anticipated contractual
obligations; the Company's ability to develop, market, sell and
distribute desirable applications, products and services and to protect
its intellectual property; the ability of the Company's sales force to
achieve expected results; the ability of the Company's customers to pay
and the timeliness of such payments, particularly during recessionary
periods; the Company's ability to obtain financing as and when needed;
changes in consumer demands and preferences; the Company's ability to
attract and retain management and employees with appropriate skills and
expertise; the impact of changes in market, legal and regulatory
conditions and in the applicable business environment, including actions
of competitors; and other factors. Additional risk factors are listed in
the Company's Annual Report on Form 10-K under the heading "Risk
Factors." The Company undertakes no obligation to release publicly any
revisions to any forward-looking statements to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events, except as required by law.
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