Oticon Alta2 New world of softer sounds

Former MiniMed Executive, Bill Arthur, Appointed Chairman of the Board of Symphonix Devices, Inc.

Appointment Comes as Symphonix Embarks on Market Growth Initiatives

SAN JOSE, Calif. - Symphonix Devices, Inc. (NASDAQ: SMPX) --
developers of the Vibrant Soundbridge', the worlds first, FDA approved, middle ear implant for those with moderate to severe sensoneural hearing loss -- announced today that former MiniMed executive, William D. Arthur III, has been elected Chairman of the Board.

Recognized as an industry leader in sales and marketing of medical devices, Mr. Arthur previously served as Vice President of Sales for MiniMed Inc., where he is credited with the dramatic increase in sales revenue from $6 million in 1993 to more than $294 million in 2001. MiniMed, a leading manufacturer of insulin infusion pumps and continuous glucose monitoring systems, was acquired by Medtronic, Inc. in 2001.

"Were excited to tap Bills 28 years of sales and marketing experience," said Kirk Davis, President and CEO of Symphonix. "Because he completely understands the challenges faced by medical-device companies like ours, he will play a critical role in the sale and marketing of the Vibrant Soundbridge nationwide." Currently there are more than 28 million Americans who suffer from hearing loss.

Prior to his tenure at MiniMed, Mr. Arthur was the founder, president and CEO of Medfusion, Inc., where he led efforts to commercialize products for low volume, accurate drug delivery in both hospitals and ambulatory outpatients. He holds a B.S. degree in Microbiology from Pennsylvania State University.

According to Mr. Arthur, the opportunity to lead Symphonix is the opportunity of a lifetime. "With the great team at Symphonix, I know we can grow the company into a world-class medical device developer and manufacturer, while helping millions of people to hear clearly again through the Vibrant Soundbridge," he said.

He added that the companys "Direct Drive Simulator," a new tool that allows patients to evaluate the Vibrant Soundbridge, will help to personalize the companys products for those with hearing loss.

"Patients coping with traditional hearing aids dont realize theres anything else available," he said. "Now, with our Direct Drive Simulator, doctors can actually demonstrate to a patient what it would be like to hear."

Currently, Symphonix's Vibrant Soundbridge product is available through the companys "Centers of Excellence," many of which are affiliated with major medical research centers, such as the House Clinic, the University of Miami, and the Otologic Center of Kansas City.

Mr. Arthur leads the Symphonix board of directors comprised of medical device industry experts, including Kirk Davis, President and CEO of Symphonix; Geoff Ball, Vice President and CTO and co-founder of Symphonix; BJ Cassin, a private venture capital investor; Roger Radke, PhD, Managing Director, Siemens Audiologische Technik GmBH; Adele Oliva, Partner, Apax Partners, Inc.; and Martin Friedman, Vice President, JP Morgan Partners.

About Symphonix Devices, Inc.

Founded in 1994, Symphonix Devices Inc. is a hearing technology company dedicated to providing a family of products to improve communication ability and quality of life for the millions of hearing-impaired people limited by current hearing solutions. Symphonix' Vibrant Soundbridge' is a surgical implant designed to work with the natural structures of the middle ear to enhance hearing and communication ability for people with hearing impairment. The device can be implanted during a short, outpatient surgical procedure. More information about Symphonix can be found at www.symphonix.com or by calling (800) 833-7733.

Symphonix and Vibrant are registered trademarks of Symphonix Devices, Inc. Soundbridge is a trademark of Symphonix Devices Inc.

Statements made in the press release regarding the future performance of our business are "forward looking statements" and are subject to a number of uncertainties that could cause actual results to differ materially from the statements made. Such risks and uncertainties include, but are not limited to, the Company's products failing to achieve widespread market acceptance. Further information on potential factors that could affect the Company's financial results is included in the Company's Form 10-K for the 2001 fiscal year filed with the Securities and Exchange Commission.

Share this article


Related Content
Preferred Professionals Near You
See More Preferred Professionals

Clinics above not close enough?
Search with your zipcode below.

Sign Up for Our eNewsletter
Our free eNewsletter is delivered to your inbox every two weeks - it’s the best way to stay informed about what’s new at Healthy Hearing!
Preferred Hearing Professionals Near You

Granville Brady Jr., Audiologist

10 Auer Ct Ste C
East Brunswick, NJ 08816

Click Here for Details

ENT and Allergy Associates, LLP - Woodbridge

485 Rte 1 S Bldg B
Iselin, NJ 08830

Click Here for Details

JFK Medical Center The Center for Audiology

65 James St
Edison, NJ 08820

Click Here for Details