ST. PAUL, Minn.--(BUSINESS WIRE)--
Cardiovascular Systems, Inc. (CSI) (NASDAQ: CSII) announced today that Jeff Points was named Chief Financial Officer (CFO), effective immediately. As part of a planned succession, Points succeeds Larry Betterley as CFO and will report to Scott Ward, Chairman, President and Chief Executive Officer.
“During his 10 years with CSI, Jeff has been a leader in our organization, most recently serving as Vice President, Corporate Controller and Treasurer,” stated Ward. “He will continue to be a key contributor as we build CSI for attractive growth and profitability.”
Points brings over 20 years of accounting and finance experience to the company. Prior to CSI, he served as Assistant Controller at Empi, a manufacturer and provider of non-invasive medical products for pain management and physical rehabilitation. Points also held various leadership positions at CliftonLarsonAllen, a national public accounting firm. He earned an MBA from the University of St. Thomas and a bachelor’s degree in business from Bethel University. Points is a licensed Certified Public Accountant.
“The patient populations we serve are large and growing,” said Points. “I am honored to continue to pursue CSI’s Mission as we expand our ability to improve the outcomes of those suffering from critical limb ischemia and complex coronary lesions.”
Betterley to Assist in Transition and Provide Leadership
After
serving CSI for over a decade, Larry Betterley plans to retire in August
2018. Betterley will continue to serve CSI in a newly created role as
Vice President of Administration and report to Ward. In this role,
Betterley will serve as an executive leader within the company and he
will assist in the orderly transition of the CFO office.
“Larry has played an integral role in transforming CSI from an emerging medical device startup to an established and growing $200 million-plus atherectomy leader,” said Ward, “We deeply appreciate Larry’s leadership and extraordinary contributions to the company and sincerely thank him for his 10 years of service and commitment to our mission.”
About Cardiovascular Systems, Inc.
Cardiovascular Systems,
Inc., based in St. Paul, Minn., is a medical device company focused on
developing and commercializing innovative solutions for treating
vascular and coronary disease. The company’s Orbital Atherectomy Systems
treat calcified and fibrotic plaque in arterial vessels throughout the
leg and heart in a few minutes of treatment time, and address many of
the limitations associated with existing surgical, catheter and
pharmacological treatment alternatives. The U.S. FDA granted the first
510(k) clearance for the use of the Orbital Atherectomy System in
peripheral arteries in August 2007. In October 2013, the company
received FDA approval for the Coronary Orbital Atherectomy System. To
date, over 356,000 of CSI’s devices have been sold to leading
institutions across the United States. For more information, visit the
company’s website at www.csi360.com.
Safe Harbor
Certain statements in this news release are
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995 and are provided under the protection of
the safe harbor for forward-looking statements provided by that Act. For
example, statements in this press release regarding future growth and
opportunities of CSI, are forward-looking statements. These statements
involve risks and uncertainties that could cause results to differ
materially from those projected, including, but not limited to,
regulatory developments; FDA and similar foreign clearances and
approvals; approval of our products for distribution in foreign
countries; approval of products for reimbursement and the level of
reimbursement in the U.S. and other countries; dependence on market
growth; agreements with third parties to sell their products; our
ability to maintain our relationship with our distribution partner in
Japan; the experience of physicians regarding the effectiveness and
reliability of CSI’s products; the reluctance of physicians, hospitals
and other organizations to accept new products; the impact of
competitive products and pricing; unanticipated developments affecting
our estimates regarding expenses, future revenues and capital
requirements; our ability to manage our sales force strategy; our actual
research and development efforts and needs; our ability to obtain and
maintain intellectual property protection for product candidates; future
actions by the FDA and other regulatory bodies; general economic
conditions; and other factors detailed from time to time in CSI’s SEC
reports, including its most recent annual report on Form 10-K and
subsequent quarterly reports on Form 10-Q. CSI encourages you to
consider all of these risks, uncertainties and other factors carefully
in evaluating the forward-looking statements contained in this release.
As a result of these matters, changes in facts, assumptions not being
realized or other circumstances, CSI's actual results may differ
materially from the expected results discussed in the forward-looking
statements contained in this release. The forward-looking statements
made in this release are made only as of the date of this release, and
CSI undertakes no obligation to update them to reflect subsequent events
or circumstances
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