Endologix Appoints Guido Neels to Its Board of Directors
IRVINE, Calif., Dec. 20, 2010 /PRNewswire-FirstCall/ -- Endologix, Inc. (Nasdaq: ELGX), developer of minimally invasive treatments for aortic disorders, announced today that Guido Neels, Managing Director at Essex Woodlands Health Ventures, has joined the Endologix Board of Directors. Essex Woodlands was the majority shareholder of Nellix Inc, which was acquired by Endologix in an all stock transaction on December 13, 2010. In conjunction with the acquisition, Essex Woodlands made a $15 million equity investment in Endologix. Endologix now has five independent directors and three non-independent directors.
Franklin D. Brown, Chairman of the Board, said, "I would like to welcome Guido to the Endologix Board of Directors . He has extensive experience in the medical device sector and will provide valuable guidance as we work to expand the AAA market through the introduction of innovative new products such as Nellix and Ventana. We will also benefit from his experience leading the global operations of Guidant, particularly as we expand our infrastructure and build our direct sales force in Europe."
Mr. Neels currently holds Board positions at ROX Medical, Inc., Entellus Medical, Oraya Therapeutics, Inc., Arsenal Medical and EndGenitor Technologies. Prior to joining Essex Woodlands in 2006, Mr. Neels served as Chief Operating Officer of Guidant Corporation, a world leader in the development of cardiovascular medical products. He was responsible for the global operations of Guidant's four operating units, Cardiac Rhythm Management, Vascular Intervention, Cardiac Surgery, and Endovascular Solutions. He previously served as Group Chairman, Office of the President at Guidant, responsible for worldwide sales operations, corporate communications, corporate marketing, investor relations and government relations. Prior to joining Guidant, Mr. Neels held various general management,