3D Systems Announces Appointment of Dr. Toby Cosgrove and Dr. Bon Ku as Members of its Medical Advisory Board

Rhea-AI Summary

3D Systems (NYSE:DDD) has appointed Dr. Toby Cosgrove and Dr. Bon Ku to its Medical Advisory Board, expanding its expertise in regenerative medicine. Dr. Cosgrove, former CEO of the Cleveland Clinic, brings extensive healthcare leadership and innovation experience. Dr. Ku, a leader in healthcare technology, directs the Health Design Lab at Thomas Jefferson University. Their appointments aim to enhance 3D Systems' growth in areas like human tissue printing and medical device innovation. Both professionals are expected to contribute significantly to the company’s strategic direction.

Positive

• Appointment of Dr. Toby Cosgrove and Dr. Bon Ku adds significant healthcare expertise to the Medical Advisory Board.
• Dr. Cosgrove's leadership experience in a $6 billion revenue institution will benefit 3D Systems' strategic initiatives.
• Dr. Ku's focus on healthcare innovation through technology aligns with 3D Systems’ goals in regenerative medicine.

Negative

• None.

ROCK HILL, S.C., Aug. 18, 2022 (GLOBE NEWSWIRE) -- 3D Systems (NYSE:DDD) today announced the appointment of Dr. Toby Cosgrove, former president & chief executive officer of the Cleveland Clinic, and Dr. Bon Ku, director of the Health Design Lab at Thomas Jefferson University, as the fourth and fifth members of the company’s recently established Medical Advisory Board (MAB). Dr. Cosgrove and Dr. Ku will join former Health & Human Services Secretary Alex Azar, Dr. Stephen K. Klasko, and former U.S. Secretary of Veterans Affairs David J. Shulkin as members of the advisory board. The Board’s primary mission is to provide strategic input, guidance, and recommendations for the company’s expanding efforts in regenerative medicine.

Dr. Cosgrove has distinguished himself as a leader of one of the world’s most recognized healthcare institutions, a renowned medical practitioner, and as a forward-looking healthcare innovator. Having been affiliated with the Cleveland Clinic healthcare system for nearly 50 years, Dr. Cosgrove served as President and Chief Executive Officer from 2004 to 2017 and is currently an Executive Advisor to the Clinic. As President and CEO, Dr. Cosgrove oversaw a $6 billion annual revenue institution comprised of the Cleveland Clinic, over 20 Ohio-based hospitals, family health centers, and surgical facilities, as well as Cleveland Clinic affiliates in other U.S. states and internationally. During Dr. Cosgrove’s tenure leading the Cleveland Clinic, it was ranked among the top three hospitals in America by U.S. News and World Report, and he championed a broad range of initiatives to improve clinical outcomes, increase patient satisfaction, and focus the Clinic’s delivery of health care services around specific organ systems and diseases.

Prior to serving as the Cleveland Clinic’s top executive, Dr. Cosgrove was a cardiac surgeon at the Clinic and served as Chairman of its Department of Thoracic and Cardiovascular Surgery from 1989 to 2004. He has performed more than 22,000 operations over the course of his career and is widely regarded as a pioneer in the field of advanced surgical techniques. Deeply committed to medical innovation and to applying new technologies for the benefit of patients, Dr. Cosgrove has over 30 patents filed for new medical and clinical products used in surgical environments.

Dr. Bon Ku has enjoyed a distinguished career as both a practicing medical clinician and as a visionary proponent of using technology-based innovations to solve pressing healthcare challenges. Dr. Ku is the Marta and Robert Adelson Professor of Medicine and Design at Thomas Jefferson University as well as an emergency physician at the University’s Sidney Kimmel Medical College.

Dr. Ku is widely regarded as an authority on accelerating healthcare innovation through the use of modern technological tools such as virtualization, digital modeling, prototyping, and additive manufacturing. He is the co-founder and Director of Thomas Jefferson University’s Health Design Lab, a unique institution that works with medical students, researchers, and physicians to develop new medical devices and innovative design concepts for the healthcare sector. The Health Design Lab led by Dr. Ku features a clinical 3D printing and bioprinting lab and is home to the JeffSolves MedTech initiative, which serves as a center for the incubation and commercialization of new medical technologies. Dr. Ku is also the author of numerous peer-reviewed publications focusing on the application of 3D-printed medical devices and digital models to improve surgical outcomes, optimize treatments, and make advancements in personalized medicine.

Commenting on the appointments of Drs. Cosgrove and Ku, 3D Systems’ President and CEO, Dr. Jeffrey Graves stated, “We are exceptionally pleased to welcome Dr. Cosgrove and Dr. Ku to our Medical Advisory Board. These two professionals have impeccable track records of combining hands-on medical practice experience with a clear passion for utilizing innovative approaches and modern technology to transform healthcare outcomes. Both Dr. Cosgrove and Dr. Ku will be uniquely positioned to advise 3D Systems as we build a world-class regenerative medicine business and pursue 3D printing-based advancements in areas such as accelerated pharmaceutical development, human tissue and organ printing, medical device innovation, and personalized medicine.”

Forward-Looking Statements
Certain statements made in this release that are not statements of historical or current facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to be materially different from historical results or from any future results or projections expressed or implied by such forward-looking statements. In many cases, forward-looking statements can be identified by terms such as "believes," "belief," "expects," "may," "will," "estimates," "intends," "anticipates" or "plans" or the negative of these terms or other comparable terminology. Forward-looking statements are based upon management’s beliefs, assumptions, and current expectations and may include comments as to the company’s beliefs and expectations as to future events and trends affecting its business and are necessarily subject to uncertainties, many of which are outside the control of the company. The factors described under the headings "Forward-Looking Statements" and "Risk Factors" in the company’s periodic filings with the Securities and Exchange Commission, as well as other factors, could cause actual results to differ materially from those reflected or predicted in forward-looking statements. Although management believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements are not, and should not be relied upon as a guarantee of future performance or results, nor will they necessarily prove to be accurate indications of the times at which such performance or results will be achieved. The forward-looking statements included are made only as of the date of the statement. 3D Systems undertakes no obligation to update or revise any forward-looking statements made by management or on its behalf, whether as a result of future developments, subsequent events or circumstances or otherwise, except as required by law.

About 3D Systems
More than 35 years ago, 3D Systems brought the innovation of 3D printing to the manufacturing industry. Today, as the leading additive manufacturing solutions partner, we bring innovation, performance, and reliability to every interaction - empowering our customers to create products and business models never before possible. Thanks to our unique offering of hardware, software, materials, and services, each application-specific solution is powered by the expertise of our application engineers who collaborate with customers to transform how they deliver their products and services. 3D Systems’ solutions address a variety of advanced applications in healthcare and industrial markets such as medical and dental, aerospace & defense, automotive, and durable goods. More information on the company is available at www.3dsystems.com.

Investor Contact:   investor.relations@3dsystems.com
Media Contact:      press@3dsystems.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2b14f06b-98f9-4c66-8c02-b57375cab66d

FAQ

Who are the new members of 3D Systems' Medical Advisory Board?

Dr. Toby Cosgrove and Dr. Bon Ku have been appointed as new members of 3D Systems' Medical Advisory Board.

What is the mission of the Medical Advisory Board at 3D Systems?

The Medical Advisory Board's primary mission is to provide strategic input and guidance for the company's efforts in regenerative medicine.

What experience do Dr. Toby Cosgrove and Dr. Bon Ku bring to 3D Systems?

Dr. Cosgrove has extensive leadership experience from the Cleveland Clinic, while Dr. Ku is an authority on healthcare innovation and technology.

How might these appointments affect 3D Systems' business?

The appointments are expected to strengthen 3D Systems' strategic direction in regenerative medicine and innovation in medical technologies.