MINNEAPOLIS, Sept. 1 /PRNewswire-FirstCall/ -- MedicalCV, Inc. (BULLETIN BOARD: MDCVU) , a cardiovascular surgery device manufacturer, today announced the appointment of Marc P. Flores as president, chief executive officer and a member of its Board of Directors. Lawrence L. Horsch, who had been serving as acting chief executive officer, will remain Chairman of the Board.
“We are very pleased to have Marc lead our company,” said Horsch. “He has impressed everyone with his grasp of the cardiovascular space, his dynamic approach to business and his proven competence in building sustainable markets.”
Flores has extensive experience and long standing relationships within the cardiac surgery industry. He recently held the title of Vice President of Sales and Marketing at Coalescent Surgical, Inc. a Sunnyvale, California company. Prior to that, he was in upper management with CardioThoracic Systems, Inc. in Cupertino, California, which was ultimately acquired by the Guidant Corporation. Prior to his success in the Silicon Valley, Flores held various management positions with Boston Scientific, GE Medical Systems and the Xerox Corporation. Flores received his bachelor’s of science degree from the University of Arizona.
“I appreciate the opportunity to help build MedicalCV into a significant force within the cardiac surgery arena. With a unique and effective platform of technology to address atrial fibrillation and a commitment to better patient outcomes, the company is in a position to meet the needs of this large and growing market,” said Flores. “Minimally invasive approaches and techniques are at the forefront of our products, as a result, MedicalCV is poised to make a strong impact on how atrial fibrillation patients are managed and cared for in the future.”
About MedicalCV
The Company’s primary objective is to develop cardiovascular products for improved patient outcomes by early treatment of cardiovascular disorders. Historically, the Company has developed, marketed and sold mechanical heart valves known as the Omnicarbon(R) 3000 and 4000 heart valves. The Company’s long-range strategy, however, is to achieve profitability by diversifying into high growth markets in cardiovascular surgery. Near-term, the Company plans to develop and introduce products targeting treatment of atrial fibrillation. The Company’s securities are traded on the OTC Bulletin Board under the symbol “MDCVU.”
This release contains certain forward-looking statements of expected future developments, as defined in the Private Securities Litigation Reform Act of 1995. The forward-looking statements in this release refer to our expectations regarding operating improvements, development of atrial fibrillation products, minimally invasive treatment of atrial fibrillation and achieving profitability through diversification. These forward-looking statements reflect management’s expectations and are based on currently available data; however, actual results are subject to future risks and uncertainties, which could materially affect actual performance. Risks and uncertainties that could affect such performance include, but are not limited to, the following: the Company’s ability to fund our significant capital needs; market acceptance in the U.S. of the Company’s cardiovascular products; acceptance of minimally invasive techniques for the reduction of atrial fibrillation through ablation; potential reductions in pricing by competitors; the costs of licensing and acquiring new products and technologies; the time and costs involved in obtaining regulatory clearance for cardiovascular products; competing technological and market developments; physician acceptance of the Company’s cardiovascular products; dependence upon governmental reimbursements and third party supplies; and the strength of the market for cardiovascular products. For more detailed information about these risks and uncertainties, please review the Company’s Annual Report on Form 10-KSB for the fiscal year ended April 30, 2004.
These events and uncertainties are difficult or impossible to predict accurately and many are beyond the Company’s control. The Company assumes no obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect events or uncertainties after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
MedicalCV, Inc.
CONTACT: John Jungbauer, Vice President, Finance of MedicalCV, Inc.,+1-651-452-3000
Web site: http://www.medcvinc.com/
