Cytyc Appoints Divisional Presidents to Drive Continued Growth.MARLBOROUGH, Mass. -- Tony Kingsley Joins as President of Cytyc Diagnostic Products from McKinsey & Company Cytyc Corporation (Nasdaq: CYTC), a leading women's health Women's Health Definition Women's health is the effect of gender on disease and health that encompasses a broad range of biological and psychosocial issues. company, today announced the formation of a divisional corporate structure to position the Company to achieve operational excellence as well as aggressive growth objectives. The new structure is comprised of four distinct divisions. "This initiative strengthens our leadership team and will provide for a streamlined, customer-focused organizational structure To comply with Wikipedia's lead section guidelines, one should be written. . We are well positioned to execute our growth initiatives, and this structure will enable us to scale the business while meeting the needs of our customers," said Patrick J. Sullivan, Cytyc's chairman, president, and chief executive officer. --Cytyc Diagnostic Products Division: Tony Kingsley was named president of Cytyc Diagnostic Products, comprised of the U.S. operations of the ThinPrep(R) business and the ThinPrep(R) Imaging System. Prior to joining Cytyc, Mr. Kingsley was a partner at McKinsey & Company, Inc. During his 15 years at McKinsey, his primary focus was consulting to various healthcare companies, and he has served as a consultant to Cytyc for more than five years. He holds an M.B.A. from the Harvard Graduate School of Business Administration and a B.A. from Dartmouth College Dartmouth College, at Hanover, N.H.; coeducational; chartered 1769, opened 1770, the ninth colonial college (see Wheelock, Eleazar). Originally a men's college, Dartmouth began admitting women in 1972. . Mr. Kingsley will serve as senior vice president of Cytyc Corporation. --Cytyc Surgical Products Division: Daniel J. Levangie was named president of Cytyc Surgical Products, comprised of the U.S. operations of the NovaSure(R) Endometrial Ablation Endometrial ablation is a medical procedure that is used to remove (ablate) or destroy the endometrial lining of a woman's uterus. This technique is most often employed for women who suffer from excessive or prolonged bleeding during their menstrual cycle but can not or do not wish System and the MammoSite(R) and GliaSite(R) Radiation Therapy Systems. Mr. Levangie has been with Cytyc for 15 years and led the conversion of the cervical cancer Cervical Cancer Definition Cervical cancer is a disease in which the cells of the cervix become abnormal and start to grow uncontrollably, forming tumors. screening market to the ThinPrep Pap Test Pap test, Pap smear, or Papanicolaou test (păp'ənē`kəlou), medical procedure used to detect cancer of the uterine cervix. , as well as the commercial acceptance and rapid growth of the NovaSure and MammoSite products. Mr. Levangie remains executive vice president of Cytyc Corporation. --Cytyc Development Corporation: John P. McDonough was named president of Cytyc Development Corporation. His role will focus on driving the Company's external growth strategies including acquisitions, partnerships, collaborations, and early-stage venture investing venture investing The acquiring of a stake in a start-up company by a brokerage firm or analyst by obtaining discounted, pre-IPO shares. Critics claim venture investing causes analysts to have a vested interest in seeing a stock appreciate in value and so . Mr. McDonough has been with the Company since 2003 and led the successful acquisition and integration of Novacept and Proxima Therapeutics. Mr. McDonough remains senior vice president of corporate development of Cytyc Corporation. --Cytyc International Division: David P. Harding continues in his role as president of Cytyc International, comprised of the sales and marketing of the ThinPrep cervical cancer screening products, the NovaSure Endometrial Ablation System, and the MammoSite Radiation Therapy System outside of the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Mr. Harding joined Cytyc in 2004 from McKinsey & Company and led Cytyc's U.S. marketing organization prior to his promotion to his current role. Mr. Harding continues as senior vice president of Cytyc Corporation. "This new structure allows us to focus on growing each aspect of our business. Tony is an accomplished business executive who has extensive experience in our markets and I have personally worked with him on a variety of projects over the last five years. Adding additional executive talent to the senior team will enable Dan to dedicate his energy and efforts on the fastest growing segment of our business and allow John to focus on strategic and external growth opportunities that can leverage and expand our core capabilities. Finally, the continued quarter-over-quarter growth of our international business under David's leadership is evidence that this type of focused structure produces positive results," said Patrick J. Sullivan. Cytyc Corporation is a leading women's health company that designs, develops, manufactures, and markets innovative and clinically effective products for cervical cancer screening, breast cancer risk assessment, treatment of excessive menstrual menstrual /men·stru·al/ (men´stroo-al) pertaining to the menses or to menstruation. men·stru·al or men·stru·ous adj. Of or relating to menstruation. bleeding, and treatment of breast cancer. Cytyc is traded on The Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. under the symbol CYTC. Cytyc, ThinPrep, NovaSure, MammoSite, and GliaSite are registered trademarks of Cytyc Corporation. Forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. in this press release are made pursuant to the provisions of Section 21E of the Securities Exchange Act of 1934. Investors are cautioned that statements in this press release which are not strictly historical statements, including, without limitation, statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc Cytyc's future financial condition, operating results and economic performance, and management's expectations regarding key customer relationships, future growth opportunities, product acceptance and business strategy, constitute forward-looking statements. These statements are based on current expectations, forecasts and assumptions that are subject to risks and uncertainties, which could cause actual outcomes and results to differ materially from those statements. Risks and uncertainties include, among others, dependence on key personnel and customers as well as reliance on proprietary technology, uncertainty of product development efforts and product acceptance, management of growth, product diversification, and organizational change, entry into new market segments domestically and new markets internationally, risks associated with litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , the effective integration of acquired businesses and technologies, competition and competitive pricing pressures, risks associated with the FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. regulatory approval processes and healthcare reimbursement policies in the United States and abroad, introduction of technologies that are disruptive to Cytyc's business and operations, the impact of new accounting requirements and governmental rules and regulations, as well as other risks detailed in Cytyc's filings with the Securities and Exchange Commission, including those under the heading "Risk Factors" in its 2005 Annual Report on 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. and its most recent Quarterly Report on Form 10-Q Form 10-Q See 10-Q. filed with the Commission. Cytyc cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date they were made. Cytyc disclaims any obligation to publicly update or revise any such statements to reflect any change in its expectations or events, conditions, or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements. |
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