HOUSTON--(BUSINESS WIRE)--Jan. 20, 2005--MicroMed Technology Inc., a world leader in miniaturized implantable ventricular assist technology, is pleased to announce that Travis Baugh has been appointed president and chief executive officer, effective immediately. Dallas Anderson, who co-founded the company in 1995, will retire from his current position and will serve as chairman on the company's board of directors.
As a co-founder of MicroMed in 1995, Baugh has been instrumental in the company's continued growth and success. Most recently, he served as executive vice president of Finance/Operations and CFO, where he was responsible for the production, finance and administrative activities of the company. Prior to co-founding MicroMed, Baugh was senior vice president and CFO for Grasso Corporation, a publicly traded company that provided contract professional and industrial personnel, environmental products and remote paramedic services to the international oil and gas industry.
"I am pleased to announce Travis Baugh as the new CEO of MicroMed," said Anderson. "His unique qualifications as a co-founder and his background, as well as his familiarity with the medical technology industry, will help ensure that MicroMed continues to grow and provide outstanding products and services to our customers. Travis has a history of success at every company he has worked for, and his experience at the executive level will give MicroMed the vision necessary to tackle head-on the challenges of the future."
Baugh earned his BBA degree in accounting from the University of Texas at Austin. He is a certified public accountant. Baugh currently serves on the advisory board of directors for DFB Pharmaceuticals, a privately held specialty pharmaceutical company, and has previously served on several corporate boards in the life science, energy and technology sectors. Travis is also an active member of the Houston Technology Center Mentor Network, a group dedicated to promoting the growth of the life science industry in South Texas.
"I am very excited and honored about the opportunity to take the helm of MicroMed," said Baugh. "With our strong senior management team, we are poised and stand ready for what we believe will be significant near-term growth in the VAD sector. I have been privileged to be a part of a company whose reputation as one of the most respected medical technology companies in the world has flourished and has seen its tremendous growth in the last few years. I am looking forward to building on MicroMed's record of success as we enter a new phase in our company's vision."
2004 was a successful year of milestones for MicroMed. The company currently has two ongoing clinical investigations in the U.S. to evaluate the safety and effectiveness of the DeBakey VAD®, a miniaturized implantable ventricular assist device (VAD). The company is in a pivotal clinical trial for the Bridge to Transplant indication and is anticipating application for pre-market approval to the Federal Drug Administration (FDA) in mid 2005. In November 2004, MicroMed was the first company to implant a miniaturized, new generation VAD for Destination Therapy in the United States. This was the first use of an axial flow VAD in this application in the U.S. Destination Therapy (DT) is mechanical circulatory support for patients who are not eligible for heart transplantation. Additionally in 2004, the company received commercial approval of its DeBakey VAD Child through a humanitarian device exemption (HDE). Recently, the MicroMed DeBakey VAD Child was successfully implanted in a 14-year old boy as Bridge to Transplant, while he waited for a heart to become available. The young patient, who was supported for 56 days on the VAD, received his new heart, has been discharged from the hospital and is returning to a normal lifestyle. MicroMed remains the only company with a commercially released implantable VAD for pediatric applications.
MicroMed is a multinational business with systems in numerous centers throughout Europe and Asia. Currently, approximately 300 patients worldwide have been implanted with the MicroMed DeBakey VAD. The company is well positioned for the next phase of growth and expanded services in the VAD sector.
Designed in collaboration with NASA, the Baylor College of Medicine and Drs. Michael DeBakey and George Noon, the DeBakey VAD is intended for end-stage heart failure patients who can no longer provide necessary blood flow with their native heart. The DeBakey VAD is approved for use in two pivotal clinical trials under FDA Investigational Device Exemptions for both Destination Therapy and Bridge to Transplantation. The DeBakey VAD system has been awarded the CE mark for both Bridge to Transplant and Destination Therapy, for commercial distribution in Europe. The DeBakey VAD Child, already commercially released through an HDE in the U.S. and CE mark approved, utilizes the same technology for support of pediatric patients.
MicroMed Technology Inc. is a privately held company that develops products for patients with end-stage, congestive heart failure (CHF). MicroMed's headquarters and ISO 9001 certified Class 10,000 clean room manufacturing facility is located in Houston. For more information, visit www.micromedtech.com.
Pierpont Communications, Houston
Sally Ramsay, 713-627-2223 Ext. 102
Source: MicroMed Technology Inc.