MINNEAPOLIS, June 2 /PRNewswire-FirstCall/ -- Uroplasty, Inc. sadly announced the June 1, 2006 passing of Daniel G. Holman, Chairman of the Board since 1994.
Under Mr. Holman's leadership, Uroplasty evolved from selling a single product outside the United States to a diversified company with products sold globally to treat voiding dysfunctions. During the decade Mr. Holman served as President and Chief Executive Officer (1994 to 2004), Macroplastique(R) Implants became a market leader in bulking technology. With Mr. Holman's direction, Uroplasty extended this technology for numerous new product applications and expanded the company to accommodate market growth. Mr. Holman also served as the company's Chief Financial Officer for seven years, rescuing the company from bankruptcy, raising capital and taking the company public.
Mr. Holman brought his background in medical research and testing to various leadership roles in the medical device industry. His work in this industry spanned over 30 years and resulted in numerous medical device contributions that have helped improve the lives of people worldwide. Mr. Holman was well regarded for his empathetic style of management and his financial management of a start-up company. He will be remembered for his sincerity, his sense of humor, and his passion for helping others.
Upon learning of Mr. Holman's death, David Kaysen, President and CEO, commented, "Dan leaves us a strong legacy of scientific focus, warmth of spirit, and commitment to employees and the many people he touched and helped around the world. Personally, I am sorry I will not have the chance to work with, and learn from Dan, but his legacy will grow and prosper at Uroplasty. As Board Chairman, he navigated our Company direction and established the clear path we are pursuing today and into the future. His presence and charisma will be missed."
Uroplasty, Inc., headquartered in Minnetonka, Minnesota, with wholly-owned subsidiaries in The Netherlands and the United Kingdom, is a medical device company that develops, manufactures and markets innovative, proprietary products for the treatment of voiding dysfunctions, including urinary and fecal incontinence, overactive bladder and vesicoureteral reflux.
The Urgent(R) PC Neuromodulation System is a proprietary, minimally invasive nerve stimulation device designed for office-based treatment of overactive bladder symptoms of urge incontinence, urinary urgency and urinary frequency. Application of neuromodulation therapy targets specific nerve tissue and disrupts the signals that lead to the symptoms of overactive bladder. Uroplasty sells the Urgent PC system in the United States, in Canada and in countries recognizing the CE mark. Outside the United States, the Urgent PC is also indicated for the treatment of fecal incontinence.
The I-STOP(TM) Mid-Urethral Sling is a biocompatible, tension-free sling used to treat female stress urinary incontinence. The I-STOP sling provides a hammock-like support for the urethra to prevent urine leakage associated with activities such as coughing, laughing, lifting or jumping. Uroplasty sells the I-STOP Sling in the United Kingdom and in the United States.
Macroplastique(R) Implants, Uroplasty's patented soft tissue bulking agent, is used to treat both female and male urinary incontinence and to treat vesicoureteral reflux in children. When Macroplastique is injected into tissue, it stabilizes and "bulks" the tissue, providing the surrounding muscles with increased capability to control the flow of urine. Additionally, Uroplasty markets soft tissue bulking agents for specific indications such as PTQ(TM) Implants for the treatment of fecal incontinence, VOX(R) Implants for the treatment of vocal cord rehabilitation and Bioplastique(R) for augmentation or restoration of soft tissue defects in plastic surgery indications. Uroplasty's bulking products are sold outside the United States.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for certain forward-looking statements. This press release contains forward-looking statements, which reflect our views regarding future events and financial performance. These forward-looking statements are subject to certain risks and uncertainties, including those identified below, which could cause actual results to differ materially from historical results or those anticipated. The words "aim," "believe," "expect," "anticipate," "intend," "estimate" and other expressions, which indicate future events and trends, identify forward-looking statements. Actual future results and trends may differ materially from historical results or those anticipated depending upon a variety of factors, including, but not limited to: the effect of government regulation, including when and if we receive approval for marketing products in the United States; the impact of international currency fluctuations on our cash flows and operating results; the impact of technological innovation and competition; acceptance of our products by physicians and patients, our historical reliance on a single product for most of our current sales; our ability to commercialize our recently licensed product lines; our intellectual property and the ability to prevent competitors from infringing our rights; the ability to receive third party reimbursement for our products; the results of clinical trials; our continued losses and the possible need to raise additional capital in the future; our ability to manage our international operations; our ability to hire and retain key technical and sales personnel; our dependence on key suppliers; future changes in applicable accounting rules; and volatility in our stock price.
FOR FURTHER INFORMATION: visit Uroplasty's web page at http://www.uroplasty.com or contact Mr. Kaysen.
UROPLASTY, INC. David B. Kaysen, President / CEO 5420 Feltl Road Minnetonka, Minnesota 55343 Tel: 952.426.6140 Fax: 952.426.6199 E-mail: dave.kaysen@uroplasty.com
Uroplasty, Inc.CONTACT: David B. Kaysen, President - CEO of Uroplasty, Inc.,+1-952-426-6140, or fax, +1-952-426-6199, or dave.kaysen@uroplasty.com
Web site: http://www.uroplasty.com/
