TORAX MEDICAL NAMES VETERAN INDUSTRY EXECUTIVE TO LEAD GLOBAL COMMERCIALIZATION EFFORT

September 12, 2012 07:00 AM Eastern Daylight Time

ST. PAUL, Minn.--(BUSINESS WIRE)--Torax Medical announced today that Eric Masingale has joined the company as Global Vice President of Sales and Marketing. Eric comes to Torax Medical after 18 years with Stryker Corp (NYSE: SYK), where he recently held the position of VP of Sales and Global Marketing for the surgical endoscopy division. Over the last 6 years he played a significant role in growing the division’s sales to nearly $1B.

Eric will lead world-wide commercial expansion of Torax Medical’s unique family of products. In the US, the LINX® Reflux Management System is available for the treatment of Gastroesophageal reflux disease (GERD). The LINX System was recently approved by the US Food and Drug Administration in March 2012 following a unanimous recommendation by a FDA advisory review panel. The LINX System is currently available in medical centers with expertise in the diagnosis and minimally invasive treatment of GERD.

Internationally, Eric will also be leading Torax’s European sales organization, based in London UK, which is focused on emerging markets for the LINX System and the FENIX™ Continence Restoration System, indicated for fecal incontinence (FI). Both products are CE Marked.

Torax Medical President and CEO, Todd Berg, commented, “Eric has extensive experience in building world-class sales teams and driving significant sales growth in minimally invasive surgery. His established reputation with medical institutions and physician thought leaders makes him the ideal person to lead our efforts to commercialize the company’s pioneering products for the treatment of GERD and FI.”

About Torax Medical
Torax Medical, Inc. is a privately held medical device company headquartered in St. Paul, Minnesota that develops and markets products designed to treat chronic diseases related to defective sphincter muscles. The Company’s technology platform, Magnetic Sphincter Augmentation (MSA), employs a small implant comprised of interlinked titanium beads with magnetic cores. The magnetic attraction between the beads augments the existing sphincter’s barrier function to prevent reflux or incontinence. The devices are implanted with standard minimally invasive laparoscopic or surgical procedures. The LINX Reflux Management System for the treatment of GERD is marketed in both the USA and in Europe and the FENIX Continence Restoration System for the treatment of Fecal Incontinence (FI) is marketed in Europe.

Targeted Diseases
Gastroesophageal Reflux Disease (GERD) is a chronic, often progressive disease resulting from a weak lower esophageal sphincter that allows harmful gastric fluid to reflux into the esophagus. Symptoms of GERD include heartburn, regurgitation, inability to sleep, and dietary constraints. Acid suppression drugs, such as Prevacid®, Nexium®, and Prilosec®, affect gastric acid production, but do not repair the sphincter defect and allow continued reflux. GERD can progress to a pre-cancerous condition known as Barrett’s esophagus and possibly esophageal cancer. Approximately 7% of adults in western countries suffer daily from symptoms of GERD.

Fecal Incontinence (FI) is the inability to control your bowel movements. The impact of FI on patients’ quality of life can be debilitating, causing absence from work and limiting the ability to engage in normal daily activities. FI affects an estimated 30 million people in the U.S. and Europe. Studies suggest FI is more prevalent in women and increases with age, but men and women of all ages can be affected. Torax Medical investors: Sanderling Ventures, Thomas, McNerney & Partners, Accuitive Ventures, Kaiser Permanente Ventures and Mayo Medical Ventures. For more information, please visit www.toraxmedical.com.

Contacts:      Torax Medical, Inc.
                    Todd Berg, 651-361-8900
                    President and CEO