From the Wires
Hansen Medical Announces Changes to Its Board of Directors
Dec. 12, 2012 04:01 PM
MOUNTAIN VIEW, CA -- (Marketwire) -- 12/12/12 -- Hansen Medical, Inc. (NASDAQ: HNSN), a global leader in intravascular robotics, today announced changes to its Board of Directors. These changes include the appointment of Michael Eagle, a current director, as Chairman of the Board and the resignations of Russell C. Hirsch, M.D., Ph.D., and James M. Shapiro. Mr. Eagle replaces Dr. Hirsch as the Company's lead outside director. In addition, Stephen L. Newman, M.D., also a current director, has been appointed to replace Mr. Eagle as Chair of the Board's Nominating and Corporate Governance Committee.
"I am appreciative of the Board's confidence and pleased to have been appointed Chairman of the Board at such a critical juncture for the Company," said Mr. Eagle. "As Hansen Medical's business evolves to a commercial and operational focus, our current Board structure is reflective of this evolution, as evidenced by the director appointments of Mr. Bill Rohn, Dr. Steve Newman, Mr. Nadim Yared, and me earlier this year. On behalf of the entire Board, I would like to thank both Russell and Jim for their level of commitment during the last 10 and eight years, respectively, that each of them served on the Board."
"The Board currently consists of seven directors, six of whom are independent," continued Mr. Eagle. "We intend to appoint an eighth director in the coming months."
"Since being appointed to the Board in February, Mike's operational and commercial expertise have been enormous assets to the Company as we prepared for and executed the launch of our Magellan Robotic System," said Bruce Barclay, Hansen Medical's President and Chief Executive Officer. "We look forward to his continued significant contributions in his new role as Chairman. Simultaneously, I'd also like to thank Russell and Jim for the critical guidance and multiple contributions both provided Hansen Medical during their long tenures on the Board."
Mr. Eagle, who was appointed to the Board in February 2012, has a substantial history of operational, commercial and manufacturing experience in both the medical technology and pharmaceutical industries. He has held various leadership positions at a number of notable healthcare companies, including Eli Lilly and Company, Advanced Cardiovascular Systems, IVAC Corporation, and IMED Corporation. Since retiring from his most recent position of Vice President of Global Manufacturing for Lilly in 2001, he has served as a founding member of Barnard Life Sciences, LLC, a healthcare consulting company. Additionally, Mr. Eagle has served as a director on a number of boards of both public and private healthcare companies, including Favrille Inc., Micrus Endovascular, Inc. and Perclose, Inc. He currently serves on the boards of Cadence Pharmaceuticals and Somaxon Pharmaceuticals.
About Hansen Medical, Inc.
Hansen Medical, Inc., based in Mountain View, California, is a global leader in intravascular robotics, developing products and technology designed to enable the accurate positioning, manipulation and control of catheters and catheter-based technologies. The Company's Magellan Robotic System, NorthStar Robotic Catheter and related accessories, which are intended to facilitate navigation to anatomical targets in the peripheral vasculature and subsequently provide a conduit for manual placement of therapeutic devices, have undergone both CE marking and 510(k) clearance and are commercially available in the European Union, and the U.S. In the European Union, the Company's Sensei® X Robotic Catheter System and Artisan Control Catheter are cleared for use during electrophysiology (EP) procedures, such as guiding catheters in the treatment of atrial fibrillation (AF), and the Lynx® Robotic Ablation Catheter is cleared for the treatment of AF. This robotic catheter system is compatible with fluoroscopy, ultrasound, 3D surface map and patient electrocardiogram data. In the U.S. the Company's Sensei X Robotic Catheter System and Artisan Control Catheter were cleared by the U.S. Food and Drug Administration for manipulation and control of certain mapping catheters in EP procedures. In the United States, the Sensei System is not approved for use in guiding ablation procedures; this use remains experimental. The U.S. product labeling therefore provides that the safety and effectiveness of the Sensei X System and Artisan Control Catheter for use with cardiac ablation catheters in the treatment of cardiac arrhythmias, including AF, have not been established. Additional information can be found at www.hansenmedical.com.
This press release contains forward-looking statements regarding, among other things, statements relating to goals, plans, objectives, milestones and future events. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including statements containing the words "plan," "expects," "potential," "believes," "goal," "estimate," "anticipates," and similar words. These statements are based on the current estimates and assumptions of our management as of the date of this press release and are subject to risks, uncertainties, changes in circumstances and other factors that may cause actual results to differ materially from the information expressed or implied by forward-looking statements made in this press release. Examples of such statements include statements about the potential benefits of our technology and the value of our intellectual property portfolio. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, among others: engineering, regulatory, manufacturing, sales and customer service challenges in developing new products and entering new markets; potential safety and regulatory issues that could slow or suspend our sales; the effect of credit, financial and economic conditions on capital spending by our potential customers; the uncertain timelines for the sales cycle for newly introduced products; the rate of adoption of our systems and the rate of use of our catheters; the scope and validity of intellectual property rights applicable to our products; competition from other companies; our ability to recruit and retain key personnel; our ability to maintain our remedial actions over previously reported material weaknesses in internal controls over financial reporting; our ability to manage expenses and cash flow, and obtain additional financing; and other risks more fully described in the "Risk Factors" section of our Quarterly Report on Form 10-Q for the quarter ended September 30, 2012 filed with the SEC on November 9, 2012 and the risks discussed in our other reports filed with the SEC. Given these uncertainties, you should not place undue reliance on the forward-looking statements in this press release. We undertake no obligation to revise or update information herein to reflect events or circumstances in the future, even if new information becomes available.
Hansen Medical, Heart Design (Logo), Hansen Medical (with Heart Design), Sensei and Lynx are registered trademarks, and Magellan and NorthStar are trademarks of Hansen Medical, Inc. in the United States and other countries.