EndoEvolution Announces $5 million Series C investment and appointment of Ron Rudowsky as President and CEO

  EndoEvolution Announces $5 million Series C investment and appointment of
  Ron Rudowsky as President and CEO

Business Wire

NORTH CHELMSFORD, Mass. -- April 9, 2013

EndoEvolution, LLC, the leading innovator in advanced automated suturing
devices announced today that it is closing on a $5,000,000 Series C round of
venture financing led by its current investor, Spring Bay Companies and that
Ron Rudowsky has been named President and Chief Executive Officer. Founder
Jerry Brecher, formerly EndoEvolution’s CEO, will remain closely involved with
product development and clinical use initiatives.

“We are extremely enthusiastic about our investment in EndoEvolution and we’re
pleased to continue and increase our support for the Company,” said Spring Bay
Managing Director Dan Ryan. “EndoEvolution’s Endo360° Minimally Invasive
suturing devices are in production and ready for market, and so we are
extremely pleased that such an outstanding industry leader as Ron Rudowsky has
come on board to lead the commercialization of EndoEvolution’s outstanding
technology.”

Founder Jerry Brecher said, “We could not have selected a better person for
the position. Ron brings tremendous leadership, vision, and high-level
experience at some of the most successful medical device start-ups in recent
years, and particularly in the minimally-invasive surgery (MIS) space. I know
he will lead us to incredible heights and even greater success.”

Ron Rudowsky: An Established Medical Device Industry Executive

Over the course of his 36 year career in the medical device industry,
including 30 years of executive management and leadership experience, Rudowsky
has led highly successful global sales and marketing efforts, product
development and manufacturing, and corporate development in both major
companies and notably successful medical device start-ups, including SurgRx,
Novacept, and Focal.

"EndoEvolution has established itself as the technology leader in automated
suturing devices,” said Rudowsky, “particularly in the field of
minimally-invasive surgery, where its Endo360° MIS suturing device is the
world’s most advanced product. I’m excited about the opportunity to create
market leadership for this terrific technology. It’s great that our investor
is so solidly behind the Company and I’m pleased that our Founder Jerry
Brecher will continue as a key member of our leadership team.”

"On behalf of Spring Bay, I would like to express our thanks to Jerry Brecher
for his efforts and determination,” said Ryan. “Jerry and Co-Founder and Chief
Technical Officer John Meade have been instrumental in developing
EndoEvolution’s world-class technology and its portfolio of automated suturing
device products and establishing their clinical importance and visibility in
the marketplace. We’re pleased they’re staying on with the Company.”

About EndoEvolution

EndoEvolution, LLC, the leading innovator in advanced automated suturing
device technology, is a privately held medical device company introducing and
developing the most advanced MIS (Minimally Invasive Surgery) automated
suturing devices delivering significant clinical advantages and substantial
cost-savings to hospitals. EndoEvolution’s devices, including the commercially
available reusable Endo360°® MIS suturing device and in-development
revolutionary 5mm EndoTransformer™ are the only automated suturing devices
using curved needles that precisely replicate the traditional method used by
surgeons to place stitches and tie intracorporeal knots. The only automated
suturing devices available with a full complement of standard sutures,
EndoEvolution’s reusable automated suturing products are easier to use with
demonstrated clinical effectiveness in a broad range of surgical procedures
including bariatric, colorectal, and general surgery, as well as gynecology
and urogynecology. In May of 2012, Edwards Lifesciences (EW – NYSE), the
world’s leading cardiac surgery company, licensed EndoEvolution’s advanced
automated suturing device technology for use in cardiac surgery.

Learn more at www.endo360surgical.com.

Contact:

EndoEvolution, LLC
Jerry Brecher, 978-251-8088
jerry@endoevolution.com
www.endo360surgical.com
 
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