ArthroCare Appoints Med-Tech Veteran to Board of Directors; James Foster Brings Three Decades of Experience in Business Management and Strategic Planning to the Board.Business Editors and Health/Medical Writers SUNNYVALE, Calif.--(BUSINESS WIRE)--Aug. 21, 2002 ArthroCare Corp. (Nasdaq:ARTC ARTC Arthrocare Corp (stock symbol) ARTC Australian Rail Track Corporation ARTC Air Route Traffic Control ARTC Association de la Recherche Theatrale au Canada ARTC Andean Root and Tuber Crops ), a multi-business medical device company that develops products based on its patented Coblation(R) technology, today announced it has appointed James Foster James Foster may refer to:
Foster, a 30-year medical technology industry veteran, brings a wealth of business management and strategic planning Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. experience to ArthroCare's board. Before retiring in July 2001, Foster was an executive officer of Medtronic, Inc., the world's leading medical technology company. As an officer of Medtronic for 18 years, Foster held a number of vice president positions in sales management, strategic planning and general management. During his career at Medtronic, Foster spent nearly 17 years in general management in Medtronic's cardiac surgery, neurological and pain management, and interventional cardiology interventional cardiology Cardiology The subspecialty of cardiology dedicated to the diagnosis, medical and mechanical therapy, pre- and post-procedure management of adult patients with acute and chronic forms of cardiovascular disease amenable to catheter-based areas. In addition to ArthroCare's board, he currently serves on the boards of directors for LifeCELL Corp., Branchburg, N.J.; The International Heart Institute of Montana Foundation, Missoula, Mont.; and Life Coaches, Minneapolis, Minn. Foster holds a master's degree in management from the Sloan School at MIT MIT - Massachusetts Institute of Technology . "We are pleased to welcome Jim to our board of directors," said Michael A. Baker Michael Allen Baker (Captain, USN, Ret.) is the International Space Station Program Manager for International and Crew Operations, at NASA's Johnson Space Center. He is responsible for the coordination of program operations, integration and flight crew training and support , president and chief executive officer for ArthroCare. "We look forward to benefiting from the leadership and guidance of a seasoned med-tech professional who has successfully led organizations through the same types of opportunities and challenges that face a growing company like ArthroCare. On behalf of ArthroCare's shareholders and employees, I would also like to thank Ray Larkin for the many contributions he has made over the years and wish him well in his future endeavors." About ArthroCare ArthroCare Corp. (www.arthrocare.com), headquartered in Sunnyvale, Calif., is a multi-business medical device company that develops, manufactures and markets minimally invasive soft tissue surgical products based on its patented Coblation technology. Coblation uses low-temperature radio-frequency energy to gently and precisely dissolve rather than burn soft tissue, minimizing damage to healthy tissue. ArthroCare targets a multi-billion dollar market opportunity across several medical specialties, significantly improving surgical procedures and enabling new, minimally invasive procedures. ArthroCare's Coblation-based devices have been used in more than 1.75 million surgical procedures worldwide. The company develops and markets Coblation-based products for arthroscopic, spine/neurologic, ear, nose and throat, cosmetic, urologic, gynecologic gynecologic /gy·ne·co·log·ic/ (gi?ne-) (jin?e-kah-loj´ik) pertaining to the female reproductive tract or to gynecology. and laparoscopic/general surgical procedures, and continues research in other areas. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statements Except for historical information, this press release includes forward-looking statements. These statements include, but are not limited to, the expectations regarding trends in newly commercialized markets, the company's belief that certain surgical products and procedures will enhance achievement of the company's long-term potential, the sustainability of growth rates Growth Rates The compounded annualized rate of growth of a company's revenues, earnings, dividends, or other figures. Notes: Remember, historically high growth rates don't always mean a high rate of growth looking into the future. in certain markets, the effect of anticipated government regulatory clearances, continued success of product diversification efforts, opportunities to execute strategic initiatives, and other statements that involve risks and uncertainties. These risks and uncertainties include, but are not limited to, the fact that the company's operating results will fluctuate, the market price of the company's stock may be highly volatile, the sustainability of the company's growth rate, continued success of market diversification efforts. These and other risks and uncertainties are detailed from time to time in the company's Securities and Exchange Commission filings, including ArthroCare's Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 29, 2001 and the 10-Q for the quarter ended June 29, 2002. Forward-looking statements are indicated by words or phrases such as "anticipates", "estimates", "projects", "believes", "intends", "expects", and similar words and phrases Words and Phrases® A multivolume set of law books published by West Group containing thousands of judicial definitions of words and phrases, arranged alphabetically, from 1658 to the present. . Actual results may differ materially from management plans. |
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