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Redwood City, CA (May 2, 2011) –EndoGastric Solutions (EGS), the leader in the emerging field of Natural Orifice Surgery (NOS), announced today that the Board of Directors has appointed R. Michael (Mike) Kleine as the company’s President and Chief Executive Officer (CEO). Recent additions to the company’s senior management team also include Ken Ludlum, Chief Financial Officer (CFO) and Randy Sullivan, Senior Vice President of Operations. Thierry Thaure, who led EGS for the past six years, will remain as an active consultant for the company. Mr. Kleine most recently served as President and CEO of Biosensors International Group, Ltd., a publicly traded company in the interventional cardiology and critical care markets based in Singapore. Prior to Biosensors, Mr. Kleine was President and CEO of MicroVention, a start-up focused on minimally invasive treatment of cerebral brain aneurysms, which was acquired by Terumo. Additional executive experience includes President and CEO roles with Thermo Cardiosystems Inc. and Sorin Biomedical Inc. “I am honored to join an accomplished organization that has improved the lives of so many patients,” commented Mr. Kleine. “EndoGastric Solutions’ technology represents a tremendous leap forward in the continuum of care for patients with gastrointestinal diseases. “Mike Kleine is a seasoned executive who has already led similar companies through the dynamic growth phase that EGS now faces,” commented Mike Carusi, General Partner at Advanced Technology Ventures and Board Member of EGS. “I would like to personally acknowledge Thierry’s leadership efforts over the past six years. Thanks to his dedication, passion and vision, EGS has grown from a fast follower to a market leader with an annual revenue run rate over $20 million, positioning the company to create significant value for patients, customers and investors in the near term.” Ken Ludlum also joins EGS’ senior management team as CFO. Mr. Ludlum is an experienced executive in the healthcare industry, having served as CFO of life science, medical device, medical equipment and biotechnology companies. He has more recently been a consultant, investor, board member and advisor to medical and healthcare companies. From 1995-2000 he was CFO at Perclose (NASD:PERC), an interventional cardiology products company. During his five years at Perclose, sales grew from $2 million to $100 million a year, when Abbott Laboratories acquired Perclose. A third addition to the EGS management team is Randy Sullivan, an experienced operations leader who joined EGS from BarrX Medical where he served as Chief Operating Officer with responsibility for operations, R&D, regulatory and quality. Prior to BarrX, Mr. Sullivan held senior operations management roles at Sanarus Medical, MicroVention and the Electrophysiology & Target Therapeutics Divisions of Boston Scientific. “With the additions of Ken Ludlum and Randy Sullivan, EGS has a tremendous leadership team with the capability and drive to make Natural Orifice Surgery the standard of care for patients with gastrointestinal diseases,” concluded Mr. Kleine. About EndoGastric Solutions® For more information about EndoGastric Solutions and its products, EsophyX® and StomaphyX®, please visit: http://www.endogastricsolutions.com CONTACT:
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