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SRS Medical Systems Appoints New Chief Executive Officer, Executes New Strategic Agreements


5/2/2012 3:07:51 PM

BILLERICA, Mass., May 2, 2012 /PRNewswire/ -- SRS Medical (srsmedical.com), a leading designer and manufacturer of devices for the diagnosis of voiding disorders in the urology and gynecology markets, announced today that Lee Brody has been named Chief Executive Officer.

In this role, Mr. Brody will direct corporate strategy and work closely with his senior management team on expanding partnerships and driving new product acquisition. Mr. Brody is a 15-year veteran of SRS Medical and most recently served as the company's Chief Operating Officer. He holds Undergraduate and Master's degrees in Biomedical Engineering from Boston University, as well as an MBA from Northeastern University.

"Lee's deep experience at SRS Medical makes him the perfect executive to lead the company in its mission to transform available clinical solutions in urology," said Ted Henderson, who serves as a Managing Director at Schooner Capital. "His commitment to excellence is apparent to everyone who knows him. We are incredibly pleased to have him take on this new responsibility."

According to Mr. Brody, the company will sharpen its focus on its rapidly growing new product, the CT3000 non-invasive pressure-flow system. SRS Medical has exclusive worldwide manufacturing and domestic distribution rights to the CT3000 and expects the market to continue its fast acceptance and use of the new technology. In a statement, Mr. Brody explained, "We are pleased with the clinical success of the CT3000 and believe its widespread use results in better diagnosis and outcomes. The CT3000 complements our company's long history of excellence and innovation in urology, across urodynamics, ultrasound and related product lines."

The company also announced:

  • SRS Medical and its worldwide development partner, MediPlus Ltd. have expanded their partnership on the CT3000 and other clinical products.
  • SRS Medical and its investment partners, Schooner Capital and 20/20 HealthCare Partners, have completed an additional financing round.

Clinical Background on the CT3000

Poor urine flow in older men is often assumed to be result of bladder outlet obstruction (BOO) related to enlarged prostate, but it can also be the result of low bladder contractility. History, symptom assessment and flow rate are not sufficient to determine which is the cause. In fact, clinical literature indicates that some 30% of patients undergoing prostate surgery fail to get symptomatic relief. Bladder pressure measurement is needed for definitive diagnosis, but many men are reluctant to undergo catheterization. The CT3000 UroCuff Test is the first non-invasive test for male voiding pressure.

Background on SRS Medical Systems, Inc.
SRS Medical Systems, Inc. is a privately-held Delaware corporation. To learn more about SRS Medical and its products, please visit http://www.srsmedical.com.

Contact:

David Mahoney, Vice President Sales & Marketing


Mail to: dmahoney@srsmedical.com


Telephone: 800.345.5642


Fax: 413.821.8998

SOURCE SRS Medical Systems, Inc.


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