LANGHORNE, Pa., Jan. 7, 2009 (GLOBE NEWSWIRE) -- Power Medical Interventions(r), Inc. (Nasdaq:PMII), a leader in developing and commercializing Intelligent Surgical Instruments(tm), announced today the appointment of Joe Camaratta as Senior Vice President Global Sales & Marketing with immediate effect.
Mr. Camaratta has held various senior marketing and operations executive positions over the past 25 years at Siemens Medical Solutions in both the U.S. and Germany. Mr. Camaratta most recently held the position of Vice President of Global Solutions, in which he was responsible for a business unit dedicated to performance improvement services to hospital and integrated delivery network clients. Prior to this position, he was also Vice President of Customer Relationship Management, Vice President of Corporate Marketing, Vice President of Worldwide Marketing, and U.S. Business Manager of Magnetic Resonance. Mr. Camaratta holds a B.S. in Computer Science from Drexel University and an M.S. in Computer Science from Rutgers University.
Michael Whitman, President and Chief Executive Officer, commented, "Joe's experience in creating valuable marketing strategies in the medical device industry make him the ideal candidate to lead our global sales and marketing efforts. His technical capabilities and healthcare expertise will prove to be valuable assets to PMI in fulfilling its market execution strategy. I believe Joe is a significant addition to the executive management staff and will be able to maximize the full potential of Intelligent Surgical Instruments in minimally invasive procedures, in the emerging field of NOTES (Natural Orifice Transluminal Endoscopic Surgery), and through our strategic alliance with Intuitive Surgical. I am very confident in Joe's capabilities and look forward to working with him as we continue to expand our product offering and further penetrate the large existing market."
Mr. Camaratta added, "Power Medical Interventions is enabling surgeons to improve patient outcomes through new and modified procedures that support the trend toward minimally invasive surgery across a broad spectrum of surgical specialties. Our proprietary and unique platform delivers superior clinical value while reducing medical waste and the resulting negative impact on the environment. I look forward to helping Mike and the PMI team to grow the business and help reduce the burden on the environment."
Power Medical Interventions is also pleased to announce that John Hayes has been promoted to National Sales Manager U.S. He most recently served as Regional Manager for Power Medical Interventions. John has 17 years of experience in the medical industry, including 11 years with U.S. Surgical. He has held positions of increasing responsibility in sales management and national accounts. Mr. Hayes holds a B.S. Degree from Oregon State University and will be reporting to Mr. Camaratta.
About Power Medical Interventions, Inc.:
Power Medical Interventions(r), Inc. is the world's only provider of computer-assisted, power-actuated surgical stapling products. PMI's Intelligent Surgical Instruments(tm) enable less invasive surgical techniques to benefit surgeons, patients, hospitals and healthcare networks. PMI manufactures durable recyclable technology to reduce medical waste and help keep the planet clean. The company was founded in 1999, and is headquartered in Langhorne, PA with additional offices in Germany, France, and Japan. To learn more about Power Medical Interventions, Inc. and its products, please visit www.pmi2.com.
Safe Harbor Statement
Statements included in this press release, which are not historical in nature, are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements relating to the future financial performance of the Company are subject to many factors including, but not limited to, the customer acceptance of the products in the market, the introduction of competitive products and product development, commercialization and technological difficulties, and other risks detailed in the Company's Securities and Exchange Commission filings, including the Company's Annual Report on Form 10-K for the year ended December 31, 2007 and its Quarterly Report on Form 10-Q for the three months ended March 31, 2008.
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