ArthroCare Names New Senior Vice President of Operations; Richard A. Christensen Brings Extensive Experience in Global Operations and Finance to the Company.Business Editors SUNNYVALE, Calif.--(BUSINESS WIRE)--July 23, 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 pioneering Coblation(R) technology, announced today it has named Richard A. Christensen senior vice president of operations. Fernando Sanchez will continue as senior vice president and chief financial officer. Christensen will be responsible for leading ArthroCare's global manufacturing, research and development initiatives, and quality and regulatory operations. He brings a broad range of experience from his nearly 20 years in senior-level operations and finance positions at General Motors (GM). "We are excited to further strengthen our management team by adding someone with Rich's extensive background to our group," 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 are confident he will help us continue to bolster ArthroCare's operational performance as we prepare for the next stage of the company's growth." Most recently, Christensen was vice president of operations for Build-To-Order, Inc., a start-up automobile company he first joined as GM's executive-in-charge. Prior to this position, Christensen was a founding member of GM's e-commerce operation, formulating the strategies and priorities for entry into this new market. Christensen also founded and directed GM's Project Center, which was responsible for implementing operating strategies aimed at markedly improving the profitability of the company's core automotive business. In addition, he served as assistant controller for General Motors do Brasil where he was a member of the leadership team that re-established manufacturing operations Manufacturing operations concern the operation of a facility, as opposed to maintenance, supply and distribution, health, and safety, emergency response, human resources, security, information technology and other infrastructural support organizations. in Argentina along with a pioneering GM/Automotive supplier production complex in southern Brazil. Christensen also led the re-engineering of GM's SAAB SAAB Svenska Aeroplan Aktiebolaget (Swedish Aeroplane Corporation; auto/aircraft manufacturer) SAAB Student-Athlete Advisory Board SAAB Student African American Brotherhood SAAB South African Association of Botanists Cars USA and UK-based Group Lotus, plc operations. 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 technology uses low-temperature radio-frequency energy to gently and precisely dissolve rather than burn soft tissue, which minimizes damage to surrounding healthy tissue. ArthroCare leverages its Coblation technology to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. a $2.8 billion market opportunity across several medical specialties Medical Specialties See also anatomy; disease and illness; drugs; health; remedies; surgery. adenography the science of the description of glands. — adenographic, adj. , significantly improving many existing surgical procedures Surgical procedures have long and possibly daunting names. The meaning of many surgical procedure names can often be understood if the name is broken into parts. For example in splenectomy, "ectomy" is a suffix meaning the removal of a part of the body. "Splene-" means spleen. and enabling new minimally invasive procedures. The company has developed and marketed 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 research continues in additional areas. ArthroCare's Coblation-based devices have been used in more than 1.75 million surgical procedures worldwide. 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 the company's rate of growth, the company's reliance on the expertise of certain key employees, and other statements that involve risks and uncertainties. These risks and uncertainties include, but are not limited to the uncertainty of success of the company's non-arthroscopic products, competitive risk, the company's ability to continue to hire and retain qualified employees, the company's ability to successfully operate its global, offshore manufacturing facility to reduce costs, and the uncertainty of protecting the company's patent position. 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 30, 2000 and the 10-Q for the quarter ended September 29, 2001. 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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