Neuromonics Appoints Richard L. Giancola CEO

BETHLEHEM, Pa.--(BUSINESS WIRE)--Neuromonics Inc. today announced that Richard Giancola has joined the company as chief executive officer and member of its board of directors. Giancola, who was most recently vice president and general manager, Latin America, for Cochlear Americas, brings more than 25 years of experience driving multi-million dollar sales growth for global medical device companies. In his new role, Giancola will lead the global organization to gain further market acceptance and continue the growth of Neuromonics.

“Rick has a proven track record of growing emerging markets for medical device treatments into multi-million dollar businesses,” said Ron West, chairman of Neuromonics. “We are confident he has the experience, knowledge and drive to continue Neuromonics growth and help reach our ultimate goal— providing tinnitus sufferers worldwide with the safest and most effective treatment available.”

Prior to joining Neuromonics, Giancola was a senior executive with global cochlear implant market leader, Cochlear Americas, since 1999. While at Cochlear Americas, Giancola increased sales to become a multi-million dollar business and managed year-over-year revenue growth exceeding 30 percent. Giancola brings an extensive background in the medical device industry to Neuromonics including positions with American Hospital Supply, Deseret Medical and ten years as founder and president of Landmark Medical Exports, Inc., an export management and consulting firm specializing in Latin America.

“I am pleased to be joining the company at this time of rapid growth and I look forward to furthering the company’s leadership in tinnitus research and treatment,” said Giancola. “Recent data proving the efficacy and durability of the Neuromonics Tinnitus Treatment and increasingly widespread clinician adoption demonstrates the value of our innovative and effective device.”

About the Neuromonics Tinnitus Treatment

Neuromonics’ non-invasive, FDA-cleared device is customized to the patient's unique hearing and tinnitus profile. It delivers a customized neural stimulus that promotes neural plastic changes, allowing the brain to filter and process the tinnitus. The delivery system, to carry the neural stimulus, consists of spectrally modified customized music which engages the brain's emotional response center, the limbic system. Research published in the April 2007 issue of Ear & Hearing demonstrates the Neuromonics Tinnitus Treatment offers clinically significant reduction in tinnitus disturbance in 91 percent of treated patients. The Neuromonics Tinnitus Treatment is the most comprehensive, long-term therapy that targets the neurological processes of tinnitus, specifically its audiological, attention-based and emotional aspects.

Clinically administered and monitored, the Neuromonics Tinnitus Treatment is proven to offer significant long-term reduction of tinnitus disturbance. The therapy is delivered via a compact, lightweight and uniquely designed medical device. Treatment typically occurs over a six-month period, with daily use recommended for two or more hours per day when the tinnitus is most disturbing. The treatment can take place during regular activities such as reading, relaxing or computer work.

About Neuromonics

With global headquarters based in Bethlehem, Pa., Neuromonics is the manufacturer and distributor of the only FDA-cleared, patented and clinically proven medical device designed for long-term significant relief of tinnitus. With research and development beginning in the early 1990s, the Neuromonics Tinnitus Treatment has treated thousands of tinnitus sufferers worldwide. Neuromonics’ goal is to help tinnitus sufferers improve their quality of life and overcome the daily-life challenges associated with tinnitus. For more information, go to www.neuromonics.com.

Contacts

Schwartz Communications Andrew Law/Megan Prock, 781-684-0770 neuromonics@schwartz-pr.com