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Marjorie Bowen Appointed to Hansen Medical's Board of Directors
7/18/2013 10:13:46 AM
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MOUNTAIN VIEW, CA--(Marketwired - Jul 17, 2013) - Hansen Medical, Inc. (NASDAQ: HNSN), a global leader in intravascular robotics, today announced that Marjorie L. Bowen has been appointed as a Director, effective as of July 16, 2013. The appointment increases the Company's board membership to nine, eight of whom are independent. Ms. Bowen brings to the board nearly 25 years of experience in advising both public and private companies as an investment banker and corporate director.
"Marjorie brings to Hansen Medical significant financial expertise gained as a trusted advisor to companies both as an investment banker, as well as an experienced corporate director," said Mike Eagle, Chairman of the Board for Hansen Medical. "We look forward to working with her and leveraging her extensive Wall Street experience."
Currently, Ms. Bowen serves on the boards of Dune Energy, Inc. (OTCBB: DUNR), an oil and gas exploration and development company, where she is the Chair of the Nominating and Corporate Governance Committee, and Global Aviation Holdings, Inc., a privately-held transportation services company, where she is the Chair of the Audit Committee and also a member of the Finance Committee. Ms. Bowen joined the Board of Global Aviation Holdings after advising its predecessor on its acquisition of World Airways in late 2007; she was the only independent director for two years following the acquisition, and was also the only director to continue to serve following a restructuring in 2012. In addition to her current director roles, Ms. Bowen's previous board affiliations include The Talbots, Inc. (which was listed on the NYSE during her tenure), Euramax International, Texas Industries, Inc. (traded on the NYSE under the symbol TXI), Vertis, Inc., and Vertis Holdings, Inc.
Prior to Ms. Bowen's corporate director roles, she spent nearly 20 years in increasingly senior investment banking-related positions at Houlihan Lokey Howard & Zukin, Inc., an independent, advisory-focused global investment bank, where she advised the boards and management teams of public companies on transactional, strategic and other shareholder matters, served as a product and practice leader, and headed the firm's industry leading fairness opinion practice. During her nearly two decades at Houlihan Lokey, Ms. Bowen led transaction teams that provided financial advice on corporate strategic alternatives, shareholder value maximization strategies, sales, mergers and acquisitions, takeover defense, as well as other capital transactions, such as equity reorganizations and exchanges, asset sales and financings. She also served on the management committee of Houlihan Lokey's financial advisory practice, where she played an active role in managing the numerous products and services executed across the firm, and was also responsible for all regulatory compliance, risk management, planning and forecasting, competitive assessments, marketing, and advertising programs, and staff development relating to Houlihan Lokey's top-ranked fairness opinion practice. Ms. Bowen was the most senior female executive at the Houlihan Lokey from 1991 until her retirement in December 2007. She has been frequently quoted in the press and delivered numerous speeches on corporate governance trends, shareholder matters and transactional issues.
"Hansen Medical's EP and vascular robotics business are experiencing significant momentum, and I am pleased to be joining the Board at such a critical juncture in the Company's history," said Ms. Bowen. "I look forward to lending my financial expertise as the Company continues to pave its path to profitability."
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, Magellan 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, Artisan Control Catheter and Artisan Extend® 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 are 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 anticipated growth in Hansen Medical intravascular robotics technology for EP and vascular applications. 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; the commercial viability of our products in the electrophysiology and vascular markets; potential safety and regulatory issues that could slow or suspend our sales; the effect of 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 March 31, 2013 filed with the SEC on May 10, 2013 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, Artisan, Artisan Extend and Lynx are registered trademarks, and Magellan is a trademark of Hansen Medical, Inc. in the United States and other countries.
Peter J. Mariani
Chief Financial Officer
Hansen Medical, Inc.
FTI Consulting, Inc.
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