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8-K - FORM 8-K - BAXANO SURGICAL, INC. | g25701e8vk.htm |
EXHIBIT 99.1
TRANS1 ANNOUNCES CEO TRANSITION
WILMINGTON, N.C., Jan 4, 2011 (GLOBE NEWSWIRE) TranS1 Inc. (Nasdaq: TSON) today announced that
its Board of Directors (the Board) has appointed current President and COO, Ken Reali, as Chief
Executive Officer of the Company. Mr. Randall, its current Chief Executive Officer, will continue
to serve as a member of the Board in the newly created position of Executive Chairman of the Board.
As Executive Chairman, Mr. Randall will continue to play an important role in the management of the
Company and will principally be involved with working with Mr. Reali and his management team on
building shareholder value in an evolving spine market more focused on cost effective, minimally
invasive surgical therapies. In connection with his appointment as Chief Executive Officer, Mr.
Reali is also being elected as a member of the Board.
Rick has been instrumental in the development of TranS1 since joining the Company in 2002 and we
are pleased that he will continue to serve as Executive Chairman of the Board, said Paul
LaViolette, Lead Director of TranS1. Ken has made a significant impact on TranS1 since he joined
last year and we are enthusiastic about his leading the Company forward.
Mr. Reali was initially hired by the Company as President and Chief Operating Officer in January
2010. He has over 20 years of general management, sales and marketing experience with leading
medical device and orthopedic companies. Mr. Reali joined the Company from Smith & Nephew where he
spent five years in various senior marketing, sales and product development positions, including
most recently as Senior Vice President and General Manager of the Biologics and Clinical Therapies
Business. Prior to joining Smith & Nephew, Mr. Reali held senior marketing, sales and product
development positions at Stryker for seven years. Prior to joining Stryker, Mr. Reali worked as a
territory and product manager at Biomet for eight years.
Commenting on his appointment as CEO, Ken Reali said, TranS1 is well positioned to become a
significant participant in spinal implants through growth of its AxiaLIF core technology. The
Company will continue to leverage its strong minimally invasive foundation to develop a business
based on technologies that improve outcomes and offer a superior value proposition to current
standard of care."
About TranS1 Inc.
TranS1 is a medical device company focused on designing, developing and marketing products that
implement its proprietary approach to treat degenerative conditions of the spine affecting the
lower lumbar region. TranS1 currently markets the AxiaLIF family of products for single and
multilevel lumbar fusion and the Vectre and Avatar posterior fixation systems for lumbar fixation
supplemental to AxiaLIF fusion. TranS1 was founded in May 2000 and is headquartered in Wilmington,
North Carolina. For more information, visit www.trans1.com.
CONTACT: TranS1 Inc.
Investors:
Joseph P. Slattery, Executive Vice-President and
Chief Financial Officer
910-332-1700
Chief Financial Officer
910-332-1700
Westwicke Partners
Mark Klausner
443-213-0501
trans1@westwicke.com
Mark Klausner
443-213-0501
trans1@westwicke.com