LAWRENCE, Mass., April 25, 2013 /PRNewswire/ -- NxStage Medical, Inc.® (NASDAQ: NXTM) announced today that Robert G. Funari has been appointed as the non-executive Chairman of the Board effective immediately. Mr. Funari is the former Chairman of Crescent Healthcare and has served on the NxStage Board of Directors since January 2013.
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Mr. Funari succeeds Dr. Philippe Chambon, who resigned after having served on the Company's Board of Directors since 1998.
"It has been one of the great privileges of my career to be involved with the startup of NxStage and to participate in its growth over so many years," stated Dr. Chambon. "Together with Jeff, both the Board and management team have the skill and resources to continue building a great company and the story is only just beginning to unfold."
"We are very grateful to Philippe for his significant contributions to NxStage, commencing with our formation in 1998, and for the continued strategic guidance and valuable service he has given to the Company during his time as Chairman," stated Jeffrey H. Burbank, Founder and CEO of NxStage. "We look forward to working closely with Bob Funari as our new Chairman. I am confident that his leadership and oversight will add significant value to our strategic growth initiatives."
"I am honored to be elected Chairman of NxStage's Board," said Robert Funari. "I am eager to continue working with Jeff and the rest of the management team as they execute their growth strategy with the goal of both expanding access to NxStage's life changing therapy and increasing shareholder value."
Mr. Funari brings to the position an extensive background, including more than 40 years of executive leadership, particularly in the healthcare industry, and a proven track record of strategic planning and implementation. Mr. Funari served as a director of Beckman Coulter, Inc., a diagnostics and life sciences company, from 2005 to 2011, as well as director of Pope and Talbot, Inc. from 2001 to 2008. In addition, he served as director of First Consulting Group from 2004 to 2008 and director of Bay Cities National Bank from 1994 to 2011, where he also served as chairman from 2007 to 2011. He currently sits on the board of directors of a number of non-profit and private companies and is a member of the RAND Healthcare Board of Advisors.
About NxStage Medical
NxStage is a medical device company, headquartered in Lawrence, MA, USA, which develops, manufactures, and markets innovative systems for the treatment of end-stage renal disease (ESRD), and acute kidney failure. The System One home hemodialysis device developed by NxStage is the only FDA approved portable hemodialysis machine cleared for home use. For more information on NxStage, or NxStage products, visit, 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 Annual Report on Form 10-K for the year ended December 31, 2012. 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.
Kristen K. Sheppard, Esq.
VP, Investor Relations
SOURCE NxStage Medical, Inc.
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