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WOUNDTEK, INC ANNOUNCES
TWO NEW MEMBERS OF ITS BOARD OF DIRECTORS: INDUSTRY VETERANS WITH
A TRACK RECORD OF SUCCESS JOIN THE TEAM
NEWPORT, RI, December 22,
2005 – WoundTEK, Inc., a privately held medical device
company, announced today that has recruited two new members to its
Board of Directors. Helping to round out a strong leadership team
for future growth of the company and its expanding operations.
David LaSalle, founder and Managing Director of Apex Surgical (recently
sold to Omni Life Sciences, Inc.), has joined the Board along with
James Lousararian, Founder and Chief Executive Officer of Angiolink,
Corp.(sold to Medtronic, Inc. [MDT:NYSE] in 2004)
"We are very happy to welcome both David
LaSalle and Jim Lousaraian to our management team. Both have great
track records for growing successful medical device businesses during
tough economic times. Each brings unique skill sets to bear that
will help us grow our company rapidly and successfully over the
years to come.” Said Andrew Reilly, WoundTEK, Inc. Chief Executive.
“WoundTEK, Inc. which grew over 200% in
revenues in 2005 is poised to become a leader in the wound closure
market space. I am delighted to be part of such a strong team and
behind such a great product “ said Jim Lousaraian. He added
“ As WoundTEK increases its awareness of the S.T.A.R. device
through a growing distribution channel the company solidifies its
place in the wound care market as a innovative leader”.
David LaSalle said, “ The STAR device is
being so well received in the market that it makes being a part
of the management team an exciting and exhilarating place to be.
Our challenges ahead will be to manage company growth and market
demand for WoundTEK’s product and to balance all of the moving
parts of the business through this rapid growth stage”.
WoundTEK, Inc based in Newport, RI is a medical
device company focused on the closure of large wounds and skin deficits
caused by trauma or surgery. The company manufactures The S.T.A.R.
Device. The first minimally invasive tissue expansion device, The
S.T.A.R. rapidly closes large open wounds that cannot be closed
using primary closure methods. The S.T.A.R. is a simple, effective
and proven method of closing large wounds, chronic wounds, and skin
deficits. Comprised of a winder reel and an anchor mechanism joined
by a simple mattress suture, The S.T.A.R. is able to rapidly expand
tissue across large skin deficits with very little discomfort, closing
large wounds faster and raising the level of patient care.
Large wound closure is a major health care problem
worldwide and is one of the leading causes of deadly infections
in the United States. Almost 2,00,000 trauma cases and surgical
procedures each year are faced with the challenge of closing large
wounds and skin deficits. Current procedures to close large wounds
can be technically demanding, increase the risk of infection, and
be very invasive, painful, and have deep scaring effects to the
tissue. The S.T.A.R. System reduces many of the challenges that
are currently faced by surgeons today.
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This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements are necessarily
estimates reflecting the best judgment of our management and involve
a number of risks and uncertainties that could cause actual results
to differ materially from those suggested by the forward-looking
statements. These forward-looking statements should, therefore,
be considered in light of various important factors, including the
following: timing and success of product development and market
acceptance of developed products; regulatory approvals, clearances
and restrictions; guidelines and recommendations in the health care
and patient communities; intellectual property positions and litigation;
competition in the medical device industry and in the specific markets
of surgery in which WoundTEK operates; unanticipated manufacturing
disruptions, delays in regulatory approvals of new manufacturing
facilities or the inability to meet demand for products. Words such
as "estimate," "project," "plan,"
"intend," "expect," "anticipate,"
"believe" and similar expressions are intended to identify
forward-looking statements. You are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date of this press release. We undertake no obligation to
publicly update or release any revisions to these forward-looking
statements to reflect events or circumstances after the date of
this press release or to reflect the occurrence of unanticipated
events.
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