Endologix Inc. 02.10.17
Endologix Inc., developer and marketer of treatments for aortic disorders, is separating the positions of board chairman and CEO. Dan Lemaitre, lead independent director, has been appointed chairman and John McDermott will continue to serve as CEO and director.
“Over the last year, we have integrated the TriVascular merger, advanced our new product and clinical programs and expanded our global commercial operations," said McDermott. "To best position the company for future success, the board and I mutually agreed to separate the chairman and CEO roles. This will allow me to dedicate my full attention to operational and commercial execution and spend more time with customers as we continue to launch new technologies and gain share in the AAA market. We will also benefit from the expertise and leadership experience of Dan Lemaitre, who will bring additional value to the board in the chairman position.”
Lemaitre has served on the board since December 2009 and as lead independent director since March 2014. John McDermott has served as Chairman of the Board since March 2012 and as Chief Executive Officer since May 2008.
“The board has great confidence in John and his ability to continue building Endologix into a leading global medical device company focused on aortic disorders," Lemaitre said. "The separation of the roles will allow John to focus on the business, which is poised for accelerated growth driven by significant future product launches, including Ovation Alto and ChEVAS in Europe, Nellix in the U.S., and other pipeline opportunities.”
Endologix develops and manufactures minimally invasive treatments for aortic disorders. The Irvine, Calif.-based company's focus is endovascular stent grafts for the treatment of abdominal aortic aneurysms (AAA). AAA is a weakening of the wall of the aorta, the largest artery in the body, resulting in a balloon-like enlargement. Once AAA develops, it continues to enlarge and, if left untreated, becomes increasingly susceptible to rupture. The overall patient mortality rate for ruptured AAA is approximately 80 percent, making it a leading cause of death in the United States.
“Over the last year, we have integrated the TriVascular merger, advanced our new product and clinical programs and expanded our global commercial operations," said McDermott. "To best position the company for future success, the board and I mutually agreed to separate the chairman and CEO roles. This will allow me to dedicate my full attention to operational and commercial execution and spend more time with customers as we continue to launch new technologies and gain share in the AAA market. We will also benefit from the expertise and leadership experience of Dan Lemaitre, who will bring additional value to the board in the chairman position.”
Lemaitre has served on the board since December 2009 and as lead independent director since March 2014. John McDermott has served as Chairman of the Board since March 2012 and as Chief Executive Officer since May 2008.
“The board has great confidence in John and his ability to continue building Endologix into a leading global medical device company focused on aortic disorders," Lemaitre said. "The separation of the roles will allow John to focus on the business, which is poised for accelerated growth driven by significant future product launches, including Ovation Alto and ChEVAS in Europe, Nellix in the U.S., and other pipeline opportunities.”
Endologix develops and manufactures minimally invasive treatments for aortic disorders. The Irvine, Calif.-based company's focus is endovascular stent grafts for the treatment of abdominal aortic aneurysms (AAA). AAA is a weakening of the wall of the aorta, the largest artery in the body, resulting in a balloon-like enlargement. Once AAA develops, it continues to enlarge and, if left untreated, becomes increasingly susceptible to rupture. The overall patient mortality rate for ruptured AAA is approximately 80 percent, making it a leading cause of death in the United States.
