BRAINTREE, MA, Feb. 23, 2015 /CNW/ - Angiotech Pharmaceuticals, Inc. announced today that K. Thomas Bailey has stepped down from the company's board of directors effective immediately.
"It has been a privilege and a pleasure serving on the Angiotech board while helping to guide the company through a period of change and transformation," Mr. Bailey said. "With the appointment of a new management team, all with significant medical device industry experience and a history of success, this is an appropriate time for me to conclude my tenure as a Director so I can turn my attention to other priorities. I have enjoyed my time at the company, including serving with all the other board members, and I appreciate the support provided to me throughout my tenure as CEO and as a member of the board."
"We are all deeply appreciative of Tom's leadership and extraordinary contribution to Angiotech's successful turnaround and the emergence of our Surgical Specialties business," said Jeff Goldberg, Co-Chair of the Board. "On behalf of the Board, I would like to thank Tom for his dedication to the company and we wish Tom all the best in his current role and beyond."
Mr. Bailey served as President and CEO for Angiotech Pharmaceuticals Inc. until the fall of 2013, at which time he transitioned to Angiotech's board. As CEO of Angiotech, Mr. Bailey led the company through a successful operational restructuring, and concluded the sale of one of Angiotech's two medical device products businesses, generating significant returns for Angiotech's shareholders. Prior to being named Angiotech's CEO in the fall of 2011, Mr. Bailey served for six years as Angiotech's CFO, and for two years as its Vice President, Business Development.
Following the sale of its Interventional Oncology division in the spring of 2013 for $362 million, Angiotech renamed and rebranded its operational subsidiaries as Surgical Specialties Corporation (US), Inc. Surgical Specialties Corporation develops and manufactures surgical instruments for its own brands (Quill™ knotless tissue closure device, SSC Surgical Suture, Look™ brand sutures, Sharpoint /SSC Microsurgical Knives, BioSentry) and as an original equipment manufacturer for virtually every major medical device company in the US and many more throughout the world. A US based company with a diverse history under its parent company Angiotech, Surgical Specialties Corporation brings forward a legacy of product excellence through precision manufacturing while maintaining successful global marketing and distribution relationships. Offering one of the most comprehensive portfolios of blades and sutures available, including innovative products such as the Quill™ Knotless Tissue-Closure Device, the company devotes itself to exceeding the needs of the specialty surgery market, having trusted partnerships within dental, ophthalmic, plastic surgery, dermatology, orthopedics, urology, microsurgery, veterinary and trauma specialties. Surgical Specialties Corporation meets the demands of providing real-world customized surgical device solutions. Entrepreneurial spirit combined with a solid history of high-precision design and manufacturing is what makes it unique. The company's proven track record within the field of precision surgical instrument design and manufacturing underscores not only its efficient methodology, but also its customer-driven, collaborative and ethical values.
SOURCE Angiotech Pharmaceuticals, Inc.
For further information: For additional information about Surgical Specialties Corporation, please visit our website at www.surgicalspecialties.com.