MONTREAL, Jan. 20 /PRNewswire-FirstCall/ - CryoCath Technologies Inc. the global leader in cryotherapy products to treat cardiovascular disease, today announced that Steve Gannon has resigned his position of CFO effective February 24, 2006.
“Steve Gannon has been a valuable team member during his 7-year tenure here at CryoCath, and everyone here wishes him all the success in his future endeavors. His contribution to several successful rounds of private and public financing and his input as the company transitioned from research and development to full commerciality was meaningful,” said Steve Arless, President and CEO of CryoCath. “Looking forward, given our strong fundamentals and growth prospects, particularly as embodied by our comprehensive AF program, we are confident we will attract the top talent needed to fulfill this important role.”
CryoCath will retain the services of an international executive recruiting firm with global reach to assist in its search to fill the CFO position. In the interim, the Finance and IT groups will report to Mike Bridges. Mr. Bridges, a chartered accountant, has been at CryoCath for more than nine years and is currently the Director of Finance.
“My decision to leave CryoCath, while difficult, was based on the opportunity for personal growth,” said Steve Gannon. “I leave with the full intention of remaining an enthusiastic shareholder of CryoCath, knowing its best days lie ahead.”
About CryoCath
CryoCath - www.cryocath.com - is a medical technology company that leads the world in cryotherapy products to treat cardiovascular disease. With a priority focus on providing physicians with a complete solution of catheter and surgical products to treat cardiac arrhythmias, CryoCath has multiple products approved in the U.S., across Europe and several ROW countries. The Company is developing additional products to expand its pipeline of products to treat cardiac arrhythmias and has development projects for the treatment of cardiac ischemia (angina) and peripheral arterial disease (PAD).
This press release includes “forward-looking statements” that are subject to risks and uncertainties. For information identifying legislative or regulatory, economic, climatic, currency, technological, competitive and other important factors that could cause actual results to differ materially from those anticipated in the forward looking statements, see Cryocath’s annual Report under the heading Risks and Uncertainties in the Management’s Discussion and Analysis section.
CryoCath Technologies Inc.
CONTACT: For further information visit our website at www.cryocath.com, orcontact: Steve G. Arless, President & CEO, Phone: (514) 694-1212 ext. 224,E-mail: sarless@cryocath.com; Mike Polonsky, Investor Relations, Phone:(416) 815-0700 ext. 231, Fax : (416) 815-0080, E-mail:mpolonsky@equicompgroup.com