VANCOUVER, Oct. 11, 2013 /CNW/ - Angiotech Pharmaceuticals, Inc. ("Angiotech")
announced today that its shareholders and Board of Directors have approved
changes to the Company's executive management team and Board of Directors.
Effective October 8, Thomas Bailey and Angiotech mutually agreed that Mr.
Bailey would transition from his current role as President and CEO of
Angiotech, and into a Board role. As of that same date, at the Company's
Annual General Meeting, Mr. Bailey was elected by the Company's shareholders
to serve on Angiotech's Board of Directors. In addition, Kurt Cellar, Jeffrey
Goldberg, Don Casey, Bradley Karro and Omar Vaishnavi were also re-elected to
the Board of Directors.
Mr. Victor Diaz, who has been named President and Chief Operating Officer, and
Ms. Tammy Neske, Chief Business Officer, will report to the Board of
Directors, and their respective roles and responsibilities will remain
generally unchanged. Mr. Jay Dent will continue to serve as Senior Vice
President and Chief Financial Officer.
"We would like to offer thanks, on behalf of the Board and our shareholders,
to Tom for his dedication and his many significant contributions during his 10
years with Angiotech," said Kurt Cellar and Jeffrey Goldberg, Co-Chairs of
Angiotech's Board of Directors. "Tom's determination and experience were
critical in enabling the Company to navigate many challenges, and the hard
work and operating acumen of Tom and his team set the stage for Angiotech's
successful return to growth and profitability during the past two years. We
look forward to continuing our work together as active members of the Board of
"I would like to offer my sincere personal thanks to our shareholders, our
Board, and most importantly to our dedicated executive team and employees, who
have offered me the great privilege of working with them, and who have stood
with me through both challenges and successes," said Mr. Bailey. "Our recent
results, and the returns we've delivered to shareholders, have been due to a
unique and highly cohesive team effort among our Board, management and
employees, and I very much look forward to contributing to Angiotech's
continued success as a member of our Board of Directors."
Subsequent to the divestiture of its Interventional Products Business to Argon
Medical this past spring, Angiotech changed the name of its operating business
to Surgical Specialties Corporation. Surgical Specialties Corporation
develops, manufactures and markets specialized surgical instruments, for its
own brands as well as for selected private label and OEM customers. Surgical
Specialties offers one of the most comprehensive portfolios of surgical
blades, needles and sutures available for the specialty surgery market, and
has trusted customer relationships and partnerships in the dental, ophthalmic,
plastic surgery, dermatology, orthopedics, urology, microsurgery and trauma
Forward Looking Statements
Statements contained in this press release that are not based on historical
fact, including without limitation statements containing the words "believes,"
"may," "plans," "will," "estimates," "continues," "anticipates," "intends,"
"expects" and similar expressions, constitute "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of 1995 and
constitute "forward-looking information" within the meaning of applicable U.S.
and Canadian securities laws. All such statements are made pursuant to the
"safe harbor" provisions of applicable securities legislation. Forward-looking
statements may involve, but are not limited to, comments with respect to our
objectives and priorities in 2013 and beyond, our strategies or future
actions, our targets, expectations for our financial condition and the results
of, or outlook for, our operations, research and development and product
development. Such forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results, events or
developments to be materially different from any future results, events or
developments expressed or implied by such forward-looking statements. Many
such known risks, uncertainties and other factors are taken into account as
part of our assumptions underlying these forward-looking statements and
include, among others, the following: general economic and business conditions
in the United States, Canada and the other regions in which we operate; market
demand; competition; technological changes that could impact our existing
products or our ability to develop and commercialize future products;
governmental legislation and regulations and changes in, or the failure to
comply with, governmental legislation and regulations; availability of
financial reimbursement coverage from governmental and third-party payers for
products and related treatments; adverse results or unexpected delays in
pre-clinical and clinical product development processes; adverse findings
related to the safety and/or efficacy of our products or products sold by our
partners; decisions, and the timing of decisions, made by health regulatory
agencies regarding approval of our technology and products; the requirement
for funding to conduct research and development, to expand manufacturing and
commercialization activities; and any other factors that may affect our
performance. In addition, our business is subject to certain operating risks
that may cause any results expressed or implied by the forward-looking
statements in this press release to differ materially from our actual results.
These operating risks include: our ability to successfully manufacture, market
and sell our products; changes in our business strategy or development plans;
our ability to attract and retain qualified personnel; our ability to
successfully complete pre-clinical and clinical development of our products;
our failure to obtain patent protection for discoveries; loss of patent
protection resulting from third-party challenges to our patents;
commercialization limitations imposed by patents owned or controlled by third
parties; our ability to obtain rights to technology from licensors; liability
for patent claims and other claims asserted against us; our ability to obtain
and enforce timely patent and other intellectual property protection for our
technology and products; the ability to enter into, and to maintain, corporate
alliances relating to the development and commercialization of our technology
and products; market acceptance of our technology and products; the
availability of capital to finance our activities; our ability to service our
debt obligations; or any other factors. Given these uncertainties, assumptions
and risk factors, investors are cautioned not to place undue reliance on such
forward-looking statements. Except as required by law, we disclaim any
obligation to update any such factors or to publicly announce the result of
any revisions to any of the forward-looking statements contained in this press
release to reflect future results, events or developments.
©2013 Angiotech Pharmaceuticals, Inc. All Rights Reserved.
SOURCE Angiotech Pharmaceuticals, Inc.
Investor Relations and Corporate Communications Angiotech Pharmaceuticals,
Inc. (604) email@example.com
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