LAWRENCE, Mass., June 26, 2013 /PRNewswire/ -- NxStage Medical, Inc. (Nasdaq: NXTM), a leading manufacturer of innovative dialysis products, today announced that Matthew W. Towse has been appointed Senior Vice President and Chief Financial Officer, and Robert S. Brown, former Senior Vice President and Chief Financial Officer, has been named President of NxStage Kidney Care, Inc., the subsidiary responsible for NxStage's Centers of Excellence initiative. In addition, Kevin Hershberger, NxStage's Controller and Vice President of Finance, has been appointed, to the newly established post of Vice President, Chief Accounting Officer and Controller.
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"Matt is a seasoned financial executive with extensive experience aligning the financial and business strategies of high-growth companies. As our new CFO, Matt's leadership will be important as we execute against our strategic growth initiatives," stated Jeffrey H. Burbank, Founder and Chief Executive Officer of NxStage. "This is a positive move that expands and strengthens our management team."
Mr. Towse has over 25 years of experience in global financial management with both public and private companies across multiple industries. He served as Vice President and Chief Financial Officer of Vette Corp., a venture-capital backed global design, engineering and manufacturing technology company from 2006 until its acquisition by a strategic buyer in 2012. From 2003 to 2005, he served as Senior Vice President and Chief Financial Officer of Fairchild Semiconductor International, Inc. Previously, Mr. Towse served as Fairchild's Vice President and Corporate Treasurer from 1997 to 2003, and held various financial management positions with National Semiconductor from 1991 to 1997 before becoming part of the team that spun-out Fairchild from National. Earlier in his career, Mr. Towse was an audit manager with Ernst & Young and most recently, he served as an Interim CFO with Tatum, LLC.
Mr. Towse is a Certified Public Accountant and received a B.B.A. from the University of Notre Dame.
Burbank continued, "Over the past six years, Robert has built a world-class finance team that has supported both significant revenue growth and cost improvements. He has been instrumental in helping to lead the organization with strong financial and operational management. We expect to leverage his strengths into our Centers of Excellence efforts."
Kevin Hershberger has been serving as NxStage's Controller and Vice President of Finance since 2008. Throughout his tenure at NxStage he has been responsible for the Company's financial and internal control activities, including accounting, financial planning, reporting, budgeting and forecasting.
About NxStage Medical
NxStage Medical, Inc. (Nasdaq:NXTM) is a medical device company, headquartered in Lawrence, Massachusetts, USA, that develops, manufactures and markets innovative systems for the treatment of end-stage renal disease, or ESRD, and acute kidney failure. NxStage is leading the development of the home hemodialysis market in the US with the only portable hemodialysis machine, the System One, cleared for home use by the FDA. For more information on NxStage and its products, please visit the company's website at http://www.nxstage.com/.
This release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this release that are not clearly historical in nature are forward-looking, and the words "anticipate," "believe," "expect," "estimate," "plan," and similar expressions are generally intended to identify forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors including those that are discussed in NxStage's filings with the Securities and Exchange Commission, including the Quarterly Report on Form 10-Q for the quarter ended March 31, 2013. NxStage is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE NxStage Medical, Inc.