KIRKLAND, WA--(MARKET WIRE)--Oct 8, 2008 -- Pathway Medical Technologies, Inc., an innovator of endovascular treatments for peripheral arterial disease (PAD), today announced the appointment of Paul Buckman to the positions of President and Chief Executive Officer. Buckman, who recently served as Chairman of the Board of Directors for Pathway Medical Technologies, brings more than three decades of medical industry leadership experience to the role. Pathway Medical Technologies co-founder and previous CEO Tom Clement, who has been instrumental in leading the Company through the initial stages to commercialization, will continue as an officer of the Company and assume the role of Chairman of Pathway’s Board of Directors.
Buckman previously served as CEO and board member for development-stage cardiovascular device company Devax, Inc. He was also previously President of the Cardiology Division and executive officer of St. Jude Medical, Inc., a diversified medical products company. Before St. Jude Medical, Buckman co-founded and served as Chairman of the Board of Directors and CEO of ev3, LLC, a Minnesota-based medical device company focused on endovascular therapies. He spent 10 years at Scimed Life Systems, Inc. and Boston Scientific Corporation, where he held several executive positions before assuming the role of President of Scimed. Additionally, Buckman has served as a board member for EndiCor, Inc., Microvena, Inc., Micro Therapeutics, Inc., and Velocimed, Inc., a company he co-founded.
“Pathway Medical Technologies is now providing the interventionalist community with the clinical versatility they need to provide patients suffering from peripheral arterial disease with more predictable outcomes,” said Clement. “I cannot think of anyone better equipped to lead Pathway at this stage than Paul. He brings such an extensive range of industry experience, particularly with respect to product commercialization, to the position. This is especially important as physicians and patients begin to experience the clinical benefits of our first product.” Clement was also recently named Chairman of the Washington Biotechnology and Biomedical Association (WBBA), a not-for-profit association of state biotechnology and biomedical companies, research firms and related organizations dedicated to improving health care for mankind through the innovative and cost-effective use of science.
“I am delighted to join this talented team, which has made the next logical evolution of atherectomy a reality by bringing Jetstream to market,” said Buckman. “Tom has done an exceptional job of positioning the company as a meaningful participant in the PAD market. Early demand for Jetstream from interventionalists serves as validation of the product’s design and capabilities. I look forward with great enthusiasm to working with the clinical community to expand on our early success.”
The U.S. Food & Drug Administration (FDA) recently cleared the Jetstream(TM) Pathway PV(TM) Atherectomy System, a peripheral atherectomy catheter designed to remove artery-clogging plaque for patients suffering from PAD in the lower limbs. Jetstream is the first atherectomy device on the market capable of treating the entire spectrum of disease found in the PAD patient, including hard and soft plaque, calcium, thrombus and fibrotic lesions with consistent clinical results. The system is currently in use at leading medical institutions across the country.
About Pathway Medical Technologies, Inc.
Pathway Medical Technologies, Inc. was founded to design, develop, manufacture and market medical devices for the treatment of arterial disease. The company’s initial focus is treating peripheral arterial disease (PAD) more quickly and effectively than existing technologies. An estimated 12 million people are afflicted by PAD in the U.S. and that number is projected to grow to over 20 million during the next 10 years. The company’s Jetstream device allows for a minimally invasive procedure designed to restore circulation in the peripheral arteries by removing both hard and soft diseased tissue. For further information, visit the company’s Web site at www.pathwaymedical.com.
Contact:
MEDIA CONTACT: Marisa Borgasano Schwartz Communications (415) 512-0770 pathwaymedical@schwartz-pr.com
Source: Pathway Medical
