AtriCure, Inc. (NASDAQ: ATRC), a medical device company and a leader in
the development of technologies and solutions for the treatment of
atrial fibrillation, or Afib, and systems for the exclusion of the left
atrial appendage, today announced that Scott Drake, Chief Executive
Officer of the Spectranetics Corporation, has been elected as Director.
Donald C. Harrison, MD, one of the founders of AtriCure, has also
informed the Board of Directors of his plans to retire at the 2013
Annual Meeting in May 2014, following an orderly transition and after
almost 20 years of service with the company.
Mr. Drake is President and Chief Executive Officer of the Spectranetics
Corporation (NASDAQ: SPNC). Spectranetics develops, manufactures,
markets and distributes medical devices used in minimally invasive
procedures within the cardiovascular system. Its products are sold in
more than 40 countries and are used to access and treat arterial
blockages in the legs and heart and to remove pacemaker and
defibrillator cardiac leads. Since joining Spectranetics in August 2011,
Mr. Drake has led it through significant growth. Spectranetics reported
$140.3 million in revenue in 2012.
Prior to joining Spectranetics, Mr. Drake was Senior Vice President,
Operations of DaVita, Inc. (NYSE: DVA), a leading U.S. provider of
kidney care and dialysis. At DaVita, he had responsibility for business
operations that generated approximately 20% of the company’s revenue,
which exceeded $6 billion. Previously, Mr. Drake held several positions
of increasing responsibility within various healthcare business units at
Covidien, Plc over a period of 17 years. From 2006 to 2009, Mr. Drake
was Global Business Unit President, Respiratory and Monitoring
Solutions, a $1.5 billion business with 8,000 employees. Under his
leadership, significant operational improvements were made including
revenue and profit growth, enhanced new product development pipeline,
lifting of FDA consent decree and lean six sigma operational excellence
initiatives. Foundational to these accomplishments is an intense focus
on new product development, organizational effectiveness and customer
needs.
“We are thrilled to welcome Scott to our Board of Directors, and look
forward to his contribution to AtriCure. As a seasoned executive, Scott
has significant leadership experience managing growing businesses,
achieving sustainable revenue growth and driving operational
improvements. I believe he will bring meaningful value to AtriCure and
to our Board of Directors,” said Michael Carrel, President and Chief
Executive Officer of AtriCure.
“I am pleased to be joining AtriCure’s Board of Directors, and look
forward to contributing to the company’s ongoing success and commercial
efforts,” said Mr. Drake. “AtriCure is at an exciting stage in its
development as a company, and is emerging as a true leader in the field
of atrial fibrillation.”
Dr. Don Harrison has also announced that, following an orderly
transition and succession, he will be retiring from the Board of
Directors of AtriCure at the 2013 Annual Meeting in May 2014. Dr.
Harrison has had an illustrious career spanning over 50 years. Prior to
the founding of Charter Life Sciences, he was the senior vice president
and provost for health affairs at the University of Cincinnati Medical
Center, where he was responsible for three hospitals, more than 1000
faculty and over $240 million in funded research. Previously, he was
Chief of Cardiology at Stanford University and Co-Director of the Falk
Cardiovascular Research Center at Stanford University. Among his many
professional honors, he has been the president of the American Heart
Association and a trustee of the American College of Cardiology.
“Dr. Harrison was critical to the founding of AtriCure, and his
extensive clinical and scientific expertise in cardiology and knowledge
of atrial fibrillation have been invaluable to AtriCure’s success,” said
Mike Carrel, AtriCure’s President and Chief Executive Officer.
About AtriCure, Inc.
AtriCure, Inc. is a medical device company providing innovative atrial
fibrillation (Afib) solutions designed to produce superior outcomes that
reduce the economic and social burden of atrial fibrillation. AtriCure’s
Synergy Ablation System is the first and only device approved for the
treatment of Persistent and Longstanding Persistent forms of Afib in
patients undergoing certain open concomitant procedures. AtriCure’s
AtriClip Left Atrial Appendage (LAA) exclusion device is the most widely
implanted device for LAA management worldwide. The company believes
cardiothoracic surgeons are adopting its ablation and LAA management
devices for the treatment of Afib and reduction of Afib related
complications such as stroke. Afib affects more than 5.5 million people
worldwide.
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 (including
projections and guidance), 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. A further list and description of risks, uncertainties and
other matters can be found in our Annual Reports on Form 10-K and
Quarterly Reports on Form 10-Q.
Copyright Business Wire 2013