PLEASANTON, Calif., Oct. 16, 2012 (GLOBE NEWSWIRE) -- ZELTIQ Aesthetics, Inc. (Nasdaq:ZLTQ), a medical technology company focused on developing and commercializing products utilizing its proprietary controlled-cooling technology platform, today announced that it has strengthened its management team with the addition of two aesthetic device industry veterans. Effective immediately, Len DeBenedictis has joined the Company as Chief Technology Officer and Keith J. Sullivan has joined as Senior Vice President of Worldwide Sales.
Mr. DeBenedictis, who has more than 35 years of experience as an inventor and executive in the medical device and technology industries, will lead the Company's R&D efforts as Chief Technology Officer, focusing on continued innovation and new product development. Mr. Sullivan, who has more than 30 years of experience in the medical device industry, will assume the role of SVP of Worldwide Sales, to better align and strengthen the Company's global sales efforts.
Mark Foley, President and Chief Executive Officer, said, "We are very excited to have Len and Keith join the organization based on their experience, credibility and success in the aesthetic space. Furthermore, we believe that their keen interest in joining ZELTIQ at this time reflects a shared view that the Company is uniquely positioned as the leader in non-invasive fat reduction. We are focused on building a world-class management team and feel that both Len and Keith underscore our commitment to this goal. In conjunction with adding Len and Keith to the team, we have realigned our R&D team as well as the Sales and Marketing organization. We believe that these changes will enhance our ability to accelerate new product innovation and to more successfully drive system sales and procedure revenue while ensuring a consistent global brand."
Mr. DeBenedictis has 35 years of experience as a high technology pioneer, inventor and senior executive in the medical device and aesthetics industries. Most recently, Mr. DeBenedictis served as CTO of Cutera Inc, a leading provider of laser and other light-based aesthetic systems, where he led the R&D efforts. Previously, Mr. DeBenedictis served as CTO and Board Member of Solta Medical, a global provider of aesthetic treatments. Prior to Solta, Mr. DeBenedictis served as Co-Founder and Board Member of Reliant Technologies, where he conceived, developed and named the Fraxel Brand skin resurfacing products. Earlier in his career, Mr. DeBenedictis served in various executive and scientific roles at Coherent Medical Group, Spectra Physics Construction Systems, Atlantic Richfield, Xerox and Korad Lasers.
Mr. Sullivan has more than 30 years of sales experience in the medical device industry. Most recently, Mr. Sullivan served as SVP of Commercial Operations of Medicis Technology, a division of Medicis Pharmaceuticals, Inc. While at Medicis, Mr. Sullivan was responsible for developing and implementing the global sales and marketing strategy for LipoSonix, a High Intensity Focused Ultrasound (HIFU) device that subcutaneously treats unwanted fat. Mr. Sullivan later led the Medicis divestiture team, orchestrating the sale of Liposonix to Solta in November 2011. Prior to Medicis, Mr. Sullivan served as VP of Global Sales and Channel Marketing of Reliant Technologies, where he was one of five officers responsible for all strategic decisions for Reliant and helped to develop the company's recurring revenue model. Earlier in his career, Mr. Sullivan held sales positions of increasing responsibility at companies such as Medtronic, Vision Quest Laser, Coherent Medical and American V. Mueller, a division of American Hospital Supply.
ZELTIQ® Aesthetics is a medical technology company focused on developing and commercializing products utilizing its proprietary controlled-cooling technology platform. The Company's first commercial product, the CoolSculpting® System, is designed to selectively reduce stubborn fat bulges that may not respond to diet or exercise. CoolSculpting is based on the scientific principle that fat cells are more sensitive to cold than the overlying skin and surrounding tissues. CoolSculpting utilizes patented technology of precisely controlled cooling to reduce the temperature of fat cells in the treated area, which is intended to cause fat cell elimination through a natural biological process known as apoptosis, without causing scar tissue or damage to the skin, nerves, or surrounding tissues. ZELTIQ developed CoolSculpting to safely, noticeably, and measurably reduce the fat layer within a treated fat bulge without requiring the patient to diet or exercise.
This press release contains forward-looking statements relating to the company's current and future business operations and financial performance and condition. Any statements contained in this press release that are not of historical facts may be deemed to be forward-looking statements. You should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond our control and that could materially affect the company's actual business operations and financial performance and condition. Factors that could materially affect our business operations and financial performance and condition include, but are not limited to, less than anticipated growth in the number of physicians electing to purchase CoolSculpting Systems, insufficient patient demand for CoolSculpting procedures, product or procedure announcements by competitors, our failure to correctly estimate and control our future expenditures, and the failure of our sales and marketing plans to increase sales as well as those other risks and uncertainties set forth in our Annual Report on Form 10-K for the fiscal year ended December 31, 2011, filed with the SEC on March 15, 2012. These forward-looking statements speak only as of the date of this press release. We expressly disclaim any obligation to update information contained in these forward-looking statements whether as a result of new information, future events, or otherwise.
CONTACT: MEDIA CONTACT: Shari Gold GOLD PR for ZELTIQ 714-251-0375 INVESTOR RELATIONS: Mark Foley ZELTIQ, President and CEO 925-474-2500 Nick Laudico / Amy Glynn The Ruth Group for ZELTIQ 646-536-7030 / 7023
ZELTIQ Aesthetics, Inc.
Pleasanton, California, UNITED STATES
MEDIA CONTACT: Shari Gold GOLD PR for ZELTIQ 714-251-0375 INVESTOR RELATIONS: Mark Foley ZELTIQ, President and CEO 925-474-2500 Nick Laudico / Amy Glynn The Ruth Group for ZELTIQ 646-536-7030 / 7023
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