Vista Medical Technologies, Inc., , today announced that Michael H. Owens, M.D., M.P.H., C.P.E., F.A.C.P.E., has been appointed to the newly created position of President of the Obesity Surgery Management Services business unit, which is soon to be incorporated as a subsidiary of the Company. Dr. Owens will also be Chief Medical Officer of Vista Medical Technologies and a member of its Board of Directors.
President and Chief Executive Officer of Vista Medical, John R. Lyon, said, "The appointment of Dr. Owens to lead our Obesity Surgery business is a key step in developing and implementing our long term strategy for growth in this important market. His experience as a high level physician executive in both hospitals and managed care organizations represents a very important addition to our senior management team."
Dr. Michael H. Owens said, "I believe that the growth of programs for the effective treatment of morbid obesity is one of the most important methods of counteracting the severe forms of what is described as an 'epidemic' disease in the United States. Vista Medical already provides a significant platform of services to physicians and hospitals involved in the surgical treatment of morbid obesity. I look forward to contributing to the development of additional products and services, and particularly to extending the Company's activity into the direct management of obesity surgery programs in partnership with physicians, hospitals, employers and insurers."
Dr. Michael H. Owens
Dr. Owens is a physician executive with over twenty years of executive healthcare, managed care, marketing and strategic planning experience, plus fifteen years of previous experience in clinical practice. Prior to joining Vista Medical, Dr. Owens was President of Imhotep Health systems, a healthcare and managed care consulting firm specializing in strategic business and clinical resource planning and implementation. His previous experience includes senior management roles with CIGNA Healthcare, the Watts Health Foundation and the U.S. Public Health Service. His professional certifications and memberships include: Fellow, American College of Physician Executives; Diplomat, American College of Physician Executives; Diplomat, American Board Quality Assurance and Utilization Review Physician and Diplomat, American Board of Internal Medicine. He is a Certified Physician Executive who has published and has widely spoken on the subjects of managed care, utilization review, clinical resource management and quality.
Dr. Owens received his MD degree from the Yale University School of Medicine, his MPH (Hospital Administration) degree from the Yale University School of Public Health and his AB degree Cum Laude with a major in Chemistry from Bowdoin College, Brunswick, ME. He completed his hospital administration residency at Montefiore Hospital, Bronx, NY and his Internal Medicine Residency at the University of Washington in Seattle, Washington.
Vista Medical Technologies, Inc.
Vista Medical Technologies, Inc. operates two business units. The Obesity Surgery Management Services business, based in Carlsbad, CA, provides services to physicians and hospitals involved in the surgical treatment of morbid obesity. Our services include management of the Laparoscopic Bariatric Surgery Preceptorship, a comprehensive introduction to starting a minimally invasive gastric bypass surgical program. Additionally, we offer systems and consulting services which enable the efficient operation of obesity surgery programs. The Visualization Technology business, based in Westborough, MA, develops, manufactures and markets products that provide information to physicians performing minimally invasive general surgical, cardiac surgical and other selected endoscopic and interventional procedures. Our technology products combine a head mounted display with video cameras to provide surgeons with critical visual information during complex minimally invasive procedures, and also incorporate the benefit of viewing complementary information in a voice-controlled, picture-in-picture format, to facilitate real-time decision making during surgery. The Visualization Technology business also manufactures compact, high-resolution endoscopic cameras for original equipment manufacturer customers and strategic partners. Vista Medical Technologies is traded on the Nasdaq SmallCap Market under the stock symbol VMTI. The Company's Internet Website is http://www.vistamt.com/ . Information on the Company's nutritional supplements for post-surgical gastric bypass patients may be found on http://www.vistavitamins.com/ .
Forward Looking Statements
This news release may contain forward-looking statements concerning the business and products of Vista Medical. Actual results may differ materially depending on a number of risk factors, including, but not limited to the following: our ability to raise additional capital to fund our operations and execute our business plan, development, manufacturing, shipment, global economic and distribution risks and customer acceptance. Other risks inherent in our business are described in Securities and Exchange Commission filings, including the Annual Report on Form 10-K for the year ended December 31, 2002 and our most recent quarterly report on form 10-Q. We undertake no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.
For further information please contact John R. Lyon, President of Vista Medical Technologies, Inc., +1-760-603-9120, jlyon@vistamt.com ; or investors and media, Tony Rossi of FRB|WEBER SHANDWICK, +1-310-407-6563, trossi@webershandwick.com , for Vista Medical Technologies, Inc.
CONTACT: John R. Lyon, President of Vista Medical Technologies, Inc., +1-760-603-9120, jlyon@vistamt.com ; or investors and media, Tony Rossi of FRB|WEBER SHANDWICK, +1-310-407-6563, trossi@webershandwick.com , for Vista Medical Technologies, Inc.
Web site: http://www.vistavitamins.com/
Web site: http://www.vistamt.com/
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