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EndoEvolution Banks $5 Million, Ron Rudowsky Appointed New CEO


4/9/2013 7:50:49 AM

NORTH CHELMSFORD, Mass.--(BUSINESS WIRE)-- EndoEvolution, LLC, the leading innovator in advanced automated suturing devices announced today that it is closing on a $5,000,000 Series C round of venture financing led by its current investor, Spring Bay Companies and that Ron Rudowsky has been named President and Chief Executive Officer. Founder Jerry Brecher, formerly EndoEvolution’s CEO, will remain closely involved with product development and clinical use initiatives.

“We are extremely enthusiastic about our investment in EndoEvolution and we’re pleased to continue and increase our support for the Company,” said Spring Bay Managing Director Dan Ryan. “EndoEvolution’s Endo360° Minimally Invasive suturing devices are in production and ready for market, and so we are extremely pleased that such an outstanding industry leader as Ron Rudowsky has come on board to lead the commercialization of EndoEvolution’s outstanding technology.”

Founder Jerry Brecher said, “We could not have selected a better person for the position. Ron brings tremendous leadership, vision, and high-level experience at some of the most successful medical device start-ups in recent years, and particularly in the minimally-invasive surgery (MIS) space. I know he will lead us to incredible heights and even greater success.”

Ron Rudowsky: An Established Medical Device Industry Executive

Over the course of his 36 year career in the medical device industry, including 30 years of executive management and leadership experience, Rudowsky has led highly successful global sales and marketing efforts, product development and manufacturing, and corporate development in both major companies and notably successful medical device start-ups, including SurgRx, Novacept, and Focal.

"EndoEvolution has established itself as the technology leader in automated suturing devices,” said Rudowsky, “particularly in the field of minimally-invasive surgery, where its Endo360° MIS suturing device is the world’s most advanced product. I’m excited about the opportunity to create market leadership for this terrific technology. It’s great that our investor is so solidly behind the Company and I’m pleased that our Founder Jerry Brecher will continue as a key member of our leadership team.”

"On behalf of Spring Bay, I would like to express our thanks to Jerry Brecher for his efforts and determination,” said Ryan. “Jerry and Co-Founder and Chief Technical Officer John Meade have been instrumental in developing EndoEvolution’s world-class technology and its portfolio of automated suturing device products and establishing their clinical importance and visibility in the marketplace. We’re pleased they’re staying on with the Company.”

About EndoEvolution

EndoEvolution, LLC, the leading innovator in advanced automated suturing device technology, is a privately held medical device company introducing and developing the most advanced MIS (Minimally Invasive Surgery) automated suturing devices delivering significant clinical advantages and substantial cost-savings to hospitals. EndoEvolution’s devices, including the commercially available reusable Endo360°® MIS suturing device and in-development revolutionary 5mm EndoTransformer™ are the only automated suturing devices using curved needles that precisely replicate the traditional method used by surgeons to place stitches and tie intracorporeal knots. The only automated suturing devices available with a full complement of standard sutures, EndoEvolution’s reusable automated suturing products are easier to use with demonstrated clinical effectiveness in a broad range of surgical procedures including bariatric, colorectal, and general surgery, as well as gynecology and urogynecology. In May of 2012, Edwards Lifesciences (EW – NYSE), the world’s leading cardiac surgery company, licensed EndoEvolution’s advanced automated suturing device technology for use in cardiac surgery.

Learn more at www.endo360surgical.com.

Contact:

EndoEvolution, LLC

Jerry Brecher, 978-251-8088

jerry@endoevolution.com

www.endo360surgical.com



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