PLEASANTON, Calif., Nov. 19, 2012 (GLOBE NEWSWIRE) -- ZELTIQ Aesthetics, Inc. (ZLTQ), a medical technology company focused on developing and commercializing products utilizing its proprietary controlled-cooling technology platform, today announced that it has further strengthened its management team with the appointment of Patrick F. Williams as Senior Vice President and Chief Financial Officer, effective immediately.
Mr. Williams brings to ZELTIQ a strong background in strategic planning, operational management, financial reporting and investor relations in the high growth medical technology industry.
Mark Foley, President and Chief Executive Officer, said, "We are extremely pleased to welcome Patrick as ZELTIQ's Chief Financial Officer. His specific experience managing finance, strategic planning, and investor relations at a rapidly growing medical technology company provides him with the valuable background that we believe will enable him to make immediate and meaningful contributions at ZELTIQ. Patrick has longstanding relationships with several members of the medical technology investment community with which we frequently interact and has proven experience in investor relations best practices. With the addition of Patrick, we have taken another significant step toward fully staffing our senior management team with high quality executives who we believe will help ZELTIQ maintain and expand its leadership position in the non-surgical fat reduction market."
Patrick Williams, Senior Vice President and Chief Financial Officer, said, "Joining the ZELTIQ senior management team represents a significant opportunity. CoolSculpting is clearly an impressive technology, poised to further expand an already growing non-surgical fat reduction market. I look forward to working with Mark, the extended management team, and the Board to drive revenue growth and take advantage of the exciting opportunity ahead of us."
Mr. Williams joins ZELTIQ with nearly 20 years of financial management experience. He has spent more than 5 years at NuVasive, Inc. (NUVA), most recently as Vice President of Strategy and Investor Relations and previously as Vice President of Finance and Investor Relations. In his most recent position, he worked directly with the company's CEO and senior management team to develop the company's long term growth and operational strategy while ensuring alignment across the organization. In his prior role, Mr. Williams was responsible for the day-to-day operations of the finance department including developing the worldwide budget and forecast, identifying profitability improvements, and predicting necessary infrastructure changes to support top-line growth and operating margins. He has had responsibility for managing all aspects of NuVasive's investor relations efforts as well as significant government affairs duties. Prior to NuVasive, he was Director of Financial Planning and Analysis at Callaway Golf, where he managed the day-to-day operations of the finance department including budgeting and forecasting, companywide operational analysis and financial reporting. Prior to Callaway, Mr. Williams held senior finance positions at Kyocera Wireless. He holds an MBA in Finance and Management from San Diego State University and a BA in Economics from University of California at San Diego.
About ZELTIQ Aesthetics, Inc.
ZELTIQ(R) Aesthetics is a medical technology company focused on developing and commercializing products utilizing its proprietary controlled-cooling technology platform. ZELTIQ's first commercial product, the CoolSculpting(R) System, is designed to selectively reduce stubborn fat bulges that may not respond to diet or exercise. CoolSculpting is based on the scientific principle that fat cells are more sensitive to cold than the overlying skin and surrounding tissues. CoolSculpting utilizes patented technology of precisely controlled cooling to reduce the temperature of fat cells in the treated area, which is intended to cause fat cell elimination through a natural biological process known as apoptosis, without causing scar tissue or damage to the skin, nerves, or surrounding tissues. ZELTIQ developed CoolSculpting to safely, noticeably, and measurably reduce the fat layer within a treated fat bulge without requiring the patient to diet or exercise.
The statements in this press release regarding the benefits that ZELTIQ expects from Mr. Williams joining ZELTIQ are forward-looking statements that involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond ZELTIQ's control. Factors that could cause these statements not to come true include, but are not limited to: less than anticipated growth in the number of physicians electing to purchase CoolSculpting Systems, insufficient patient demand for CoolSculpting procedures, product or procedure announcements by competitors, ZELTIQ's failure to correctly estimate and control future expenditures, and the failure of ZELTIQ's sales and marketing plans to increase sales, each of which could cause Mr. William's contributions to ZELTIQ to not have the benefits that ZELTIQ expects, as well as those other risks and uncertainties set forth in ZELTIQ's Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2012, filed with the SEC on November 8, 2012. These forward-looking statements speak only as of the date of this press release. ZELTIQ expressly disclaims any obligation to update information contained in these forward-looking statements whether as a result of new information, future events, or otherwise.
ZELTIQ, Senior Vice President and CFO
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