BSD Medical’s CEO Set to Step Down

BSD Medical Corp. is shaking things up at the top.

The Salt Lake City, Utah-based maker of cancer therapy technology is looking for a new chief executive. The company’s CEO, Harold “Butch” Wolcott, will step down as soon as the board of directors hired a replacment. He’ll remain as a member of the board after his successor is named.

The board has appointed a search committee that will identify and hire a qualified successor to, according to the company, lead its next phase of growth and development. Wolcott will be a member of the committee.

“We are pleased that Butch Wolcott will continue to serve on our board following what we expect to be a seamless transition to a new CEO,” said BSD Chairman Timothy C. McQuay. “Our board, including Butch, carefully considered this succession plan. We have designed it with the intended goals of preserving and enhancing our shareholder value, while sustaining BSD’s key relationships with our employees, our worldwide distribution network and our partners in the financial markets.”

“Butch is a very important and valuable asset to BSD. We are grateful for the many accomplishments the Company has achieved during his more than five years as CEO,” added Mr. McQuay. “This change comes at a time when the company is clearly headed in a positive direction. Our financial performance is improving as evidenced by two consecutive quarters of more than 100 percent year-over-year revenue growth and reduced losses. BSD has products that align with today’s healthcare environment, which requires better outcomes at reduced costs, and is benefiting from increasing sales momentum, particularly through its partnership with Terumo Europe NV for the MicroThermX product line.”

Publicly-trade BSD Medical makes and services systems to treat cancer and benign diseases using heat therapy, which is delivered using focused radiofrequency and microwave energy. The company’s product lines include both hyperthermia and ablation treatment systems.BSD’s hyperthermia cancer treatment systems, which have been in use for several years in the United States, Europe and Asia, are used to treat certain tumors with heat (hyperthermia) while increasing the effectiveness of other therapies such as radiation therapy. BSD’s microwave ablation system has been developed as a stand-alone therapy to employ precision-guided microwave energy to destroy soft tissue.