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NeuroTherm, Inc. Release: Leading Radiofrequency Manufacturer Names New Chief Operating Officer


6/20/2006 10:56:53 AM

MIDDLETON, Mass., June 19 /PRNewswire/ -- NeuroTherm, Inc., a global leader in radiofrequency generators for chronic pain management, announces the appointment of David J. Pierce as Chief Operating Officer. Pierce will be responsible for NeuroTherm's worldwide production and shipping units, as well as driving improvements to the company's quality assurance system and manufacturing processes.

"David Pierce brings invaluable experience in successfully growing a corporation's manufacturing, information technology and financial programs," says Laurence Hicks, NeuroTherm Chief Executive Officer.

He adds that the position of Chief Operating Officer is a new one for NeuroTherm, and is part of the organization's long-term-growth plan. "NeuroTherm's corporate strategy includes developing new pain management technologies, building our worldwide sales organization, reducing costs and improving overall EBITDA. David Pierce will play a considerable role in helping us meet these goals."

Pierce most recently served as senior vice president of Finance for Gyrus ACMI, where he was employed since 2001. As the lead financial officer at ACMI, Pierce was responsible for all financial operations and the information technology department. He substantially reduced operating costs, established a centralized information technology group and re-developed the organization's global technical infrastructure. During his tenure, annual sales grew to $200 million from $150 million. When Gyrus Medical PLC purchased the then privately held ACMI Corporation in July 2005, Pierce played a significant role in the sale.

Before joining ACMI, Pierce served as director of International Finance for Boston Scientific Corporation from 1996 to 1999 where his efforts increased international sales to approximately $1 billion from $500 million. He coordinated the company's financial operations in the 41 countries that had direct-sales groups as well as oversaw financial issues related to distributors in non-direct countries. Pierce established hub operations in such significant markets as Singapore, Paris, Tokyo and Buenos Aires; this achievement included developing direct-selling operations in more than 20 countries that had no prior Boston Scientific systems. He also was responsible for evaluating and integrating two major business acquisitions.

From 1986 to 1995, Pierce held increasingly responsible positions at Stanley Works / Stanley Fastening Systems headquartered in East Greenwich, Rhode Island. As Manufacturing Controller, he established a low-cost manufacturing facility in Chihuahua, Mexico, in addition to re-structuring production for a 10 percent unit-cost savings. For five months in 1995 Pierce served as acting plant manager of a 100-person facility in Visalia, California. From 1992 to 1994 he drove strategic plans to source pneumatic tools from U.S. plants rather than from vendors outside the United States.

Pierce graduated from Boston College in May 1984 with a Bachelor's of Science in Management. Post-graduation, he worked as an auditor for Price Waterhouse and obtained his CPA license.

Pierce's appointment follows a corporate restructuring begun at NeuroTherm on April 1 when Laurence Hicks was hired as CEO.

NeuroTherm, Inc. is a leading manufacturer of radiofrequency generators and related consumables used in the treatment of chronic pain. The company recently introduced the NT1000, the world's first RF generator capable of producing three lesions simultaneously. Neurotherm also pioneered the development and use of disposable electrodes in the U.K. market.

NeuroTherm is based in Middleton, MA., with another facility outside London, England. The company was formed in September 2005, as a concurrent acquisition of RDG Medical in the U.K., and RF Medical and Precision Medical Engineering in the U.S by Cortec Group Fund III, L.P., an affiliate of Cortec Group, Inc. Additional information about NeuroTherm can be found on the Internet at http://www.neurotherm.com.

NeuroTherm, Inc.

CONTACT: Michelle Gardner, Marketing Director of NeuroTherm Inc.,+1-888-655-3500 or +1-978-777-3916, mgardner@neurotherm.com


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