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Cardiovascular Systems, Inc. Appoints Jeffery W. Chambers, M.D., as Chief Medical Officer
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
management
Rhea-AI Summary
Cardiovascular Systems, Inc. (CSII) has appointed Dr. Jeffery W. Chambers as Chief Medical Officer, aiming to enhance its product pipeline in interventional cardiology. Dr. Chambers brings extensive clinical research experience, having previously led pivotal trials for the company's products. Under his leadership, CSII plans to focus on developing innovative solutions, including everolimus drug-coated balloons and thrombectomy devices. This leadership change is expected to bolster the company's strategy to address coronary and peripheral artery diseases effectively.
Positive
Appointment of Dr. Jeffery W. Chambers as Chief Medical Officer expected to strengthen product pipeline.
Dr. Chambers brings valuable clinical research and interventional cardiology expertise to the company.
Focus on innovative products such as everolimus drug-coated balloons and intravascular lithotripsy balloons.
Negative
Concerns regarding continuity and experience gaps during the transition to new leadership.
ST. PAUL, Minn.--(BUSINESS WIRE)--
Cardiovascular Systems, Inc. (CSI) (NASDAQ: CSII), a medical device company developing and commercializing innovative interventional treatment systems for peripheral and coronary vascular disease, today announced that it has appointed Jeffery W. Chambers, M.D., as Chief Medical Officer.
“CSI is developing an exciting product pipeline that targets some of the fastest growing segments of interventional cardiology,” said Scott Ward, Chairman, President and Chief Executive Officer. “Jeff brings contemporary interventional cardiology practice and extensive clinical research experience to CSI as we seek to expand our product offering beyond orbital atherectomy. We believe Jeff brings valuable perspective to CSI as we seek to successfully develop and commercialize everolimus drug coated balloons, intravascular lithotripsy balloons, thrombectomy devices and mechanical circulatory support products.”
Said Chambers, “I am excited to join CSI and I look forward to working with the team to bring innovative and important technologies to underserved patient populations. In doing so, together, we will improve the health of people with coronary and peripheral artery disease and fulfill our Mission.”
Dr. Chambers was the primary investigator for the ORBIT II study, which served as the pivotal trial supporting the premarket approval for the use of orbital atherectomy in coronary arteries. In addition, he has served as a consultant in connection with CSI’s product development, quality assurance, medical affairs and clinical research.
Dr. Chambers received his medical degree from Wayne State University and completed his residency in Internal Medicine and fellowships in cardiovascular disease and interventional cardiology at the University of Minnesota. He has been employed at the Metropolitan Heart and Vascular Institute since 1995. Dr. Chambers is a serial entrepreneur with numerous issued patents, some of which are associated with devices commercially available today. He is a Fellow at The American College of Cardiology and is a member of The Society for Cardiovascular Angiography and Interventions.
About Cardiovascular Systems, Inc. Cardiovascular Systems, Inc., based in St. Paul, Minn., is a medical device company focused on developing and commercializing innovative solutions for treating peripheral and coronary vascular disease. The company’s orbital atherectomy system treats calcified and fibrotic plaque in arterial vessels throughout the leg and heart and addresses many of the limitations associated with existing surgical, catheter and pharmacological treatment alternatives. For additional information, please visit www.csi360.com and connect on Twitter @csi360.
Safe Harbor
Certain statements in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are provided under the protection of the safe harbor for forward-looking statements provided by that Act. For example, statements in this press release regarding the expansion of CSI’s product offering and the benefits to CSI thereof, are forward-looking statements. These statements involve risks and uncertainties that could cause results to differ materially from those projected, including, but not limited to, successful the development of new devices; agreements with development partners, advisors and other third parties; the ability of CSI and these third parties to meet development, contractual and other milestones; contractual rights and obligations; technical challenges; satisfaction of milestones and conditions to CSI’s rights to acquire new devices; regulatory developments; clinical trial requirements and results; FDA requirements, clearances and approvals; the experience of physicians regarding the effectiveness and reliability of products sold by CSI; the reluctance of physicians, hospitals and other organizations to accept new products; the impact of competitive products and pricing; intellectual property protections; general economic conditions; and other factors detailed from time to time in CSI’s SEC reports, including its most recent annual report on Form 10-K and subsequent quarterly reports on Form 10-Q. CSI encourages you to consider all of these risks, uncertainties and other factors carefully in evaluating the forward-looking statements contained in this release. As a result of these matters, changes in facts, assumptions not being realized or other circumstances, CSI's actual results may differ materially from the expected results discussed in the forward-looking statements contained in this release. The forward-looking statements made in this release are made only as of the date of this release, and CSI undertakes no obligation to update them to reflect subsequent events or circumstances.
Cardiovascular Systems, Inc. Jack Nielsen Vice President, Investor Relations & Corporate Communications
(651) 202-4919
j.nielsen@csi360.com
Source: Cardiovascular Systems, Inc.
FAQ
What is the significance of Dr. Jeffery W. Chambers' appointment at CSII?
Dr. Chambers' appointment is significant as he brings extensive experience in interventional cardiology and clinical research, which is expected to enhance CSII's product development and commercialization efforts.
What products will CSII focus on under new leadership?
CSII will focus on developing innovative solutions such as everolimus drug-coated balloons, thrombectomy devices, and intravascular lithotripsy balloons.
How does Dr. Chambers' experience impact CSII's future?
Dr. Chambers' extensive background in pivotal clinical trials and product development is expected to positively influence CSII's strategic direction and product offerings.
What challenges might CSII face with the new management change?
CSII may encounter challenges related to continuity and potential experience gaps during the transition to new leadership, which could affect operational efficiency.
