James D. Hartman to Retire as CEO of Enpath Medical
05 Diciembre 2005 - 3:15PM
PR Newswire (US)
Veteran Medical Device Executive John C. Hertig Appointed CEO
Effective January 16, 2006 MINNEAPOLIS, Dec. 5
/PRNewswire-FirstCall/ -- Enpath Medical Inc. (NASDAQ:NPTH)
announced today that James D. Hartman (age 60) will retire as Chief
Executive Officer effective January 16, 2006. John C. Hertig (age
53) has been appointed as the Company's new Chief Executive
Officer, also effective January 16, 2006, and will be elected to
the Enpath Board of Directors at the Company's February board
meeting. Mr. Hartman will remain actively involved with the Company
in the role of Chairman of the Board and Chief Financial Officer
through the Annual Meeting of Shareholders on April 27, 2006. The
Company expects that Mr. Hartman will continue to participate as a
member of the Board of Directors following his departure from the
management team in April. Mr. Hartman has served as the Company's
Chief Executive Officer since 1996. "I believe it is the right time
to bring new leadership to the Enpath team, and I'm very excited to
welcome John aboard," said Mr. Hartman. "After a challenging
beginning to the year, we had a profitable third quarter and have
emerged in a strong position to capitalize on a number of future
growth opportunities. John is an experienced medical device
executive and has the expertise and skill set necessary, along with
our strong management team, to take Enpath to the next level of
growth and profitability. I look forward to working closely with
John over the next several months to facilitate an orderly
transition, as well as remaining in an advisory capacity as a
member of the Board of Directors." Mr. Hertig brings more than 25
years of medical device executive level experience to Enpath. Most
recently, Mr. Hertig was a business consultant providing leadership
and business expertise, including strategic planning and capital
raising, to a variety of healthcare companies. In this capacity he
held many leadership positions including Chief Executive Officer of
Advanced Vital Services, Inc., a privately-held diagnostic imaging
company, and created and implemented a number of high level
business plans including a consolidation strategy of Special
Pharmacy Services companies into a regional provider of drug
therapies for complex illnesses. From 1998 to 2001, Mr. Hertig
served as the Chief Executive Officer of MedSource Technologies,
Inc., an integrated medical device design and manufacturing
services company. Under Mr. Hertig's leadership, MedSource
Technologies became a leading medical precision component supply
company with annual sales of over $100 million. During his time
with MedSource, Mr. Hertig led the implementation of the company's
innovative strategy focused on providing consolidated supply chain
management for the high-end medical device industry including
implantable devices, minimally invasive surgical instrumentation
and orthopedic products. "I look forward to joining the Enpath
team," said Mr. Hertig. "Enpath's strong reputation within the
percutaneous delivery systems and stimulation lead technology
markets attracted me to this opportunity. Its blue chip medical
device customer base provides a solid foundation from which to
capitalize on its expanding proprietary technology base. In
addition, Enpath's growing reputation with smaller, leading edge
companies that are developing innovative technologies for promising
new treatments, including neurostimulation and cardiac rhythm
therapies, positions the Company well for tremendous future growth.
This is an exciting time for Enpath and I look forward to taking on
a leadership role as we continue to develop and execute our
long-term growth strategy." Prior to his tenure with MedSource
Technologies, Mr. Hertig was the President of SIMS Level 1, Inc.,
an intravenous fluid and blood warming medical device company.
Under his leadership the company successfully integrated the SIMS
respiratory unit and doubled the company's sales to over $50
million with a 48 person domestic sales force. Before SIMS, Mr.
Hertig was the Vice President/General Manager of the Medical Device
Division of Ohmeda, Inc., where he was responsible for three
medical device product lines including vascular access specialty
catheters, disposable cardiac pressure transducers and peripheral
I.V. catheters, with annual worldwide sales totaling more than $180
million. Mr. Hertig also served in a variety of roles of escalating
responsibility, including Corporate Vice President of Operations at
McGaw, Inc., which manufactures pharmaceutical and disposable
medical devices for hospitals and home care. Mr. Hertig also served
as the first President of Central Admixture Pharmacy Services,
Inc., a successful startup division of McGaw providing a unique
intravenous solutions admixture service to hospital pharmacies. Mr.
Hertig holds a Bachelor of Science degree in mechanical engineering
from Purdue University. About Enpath Medical Enpath Medical, Inc.,
headquartered in Plymouth, Minnesota, is a leader in the design,
development, manufacture and marketing of percutaneous delivery
systems and stimulation leads technologies. Its products include
venous vessel introducers, epicardial and endocardial stimulation
leads, safety needles and other products for use in pacemaker,
defibrillator, catheter and infusion port procedures as well as
neuromodulation and hearing restoration markets. Its products are
sold worldwide through partnering relationships with other medical
device companies. DATASOURCE: Enpath Medical Inc. CONTACT:
Investors, Doug Sherk, +1-415-896-6820, or Jennifer Beugelmans,
+1-415-896-6820, both of EVC Group Web site:
http://www.enpathmed.com/
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