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GI Dynamics, Inc. Expands Global Commercial Team

Wed, 04/04/2012 - 2:45am
The Associated Press

LEXINGTON, Mass. & SYDNEY--(BUSINESS WIRE)--Apr 4, 2012-- GI Dynamics, Inc. (ASX: GID) today announced the appointment of three new employees to its commercial team: Anthony (Tony) Tremaglio as senior director of marketing; Anthony Switzer as manager of commercial development, Australia; and Gerd Gottschalk as reimbursement director, Europe. In their roles, they will lead efforts to expand and promote the global presence of the company's lead product, the EndoBarrier(R).

"We are very pleased to welcome Tony, Anthony and Gerd to the Company," said Mark C. Twyman, chief commercial officer of GI Dynamics. "Their experience, knowledge and expertise will be indispensable as we increase awareness of and introduce EndoBarrier in key markets across the globe and continue our drive toward local and national reimbursement." Mr. Tremaglio joins GI Dynamics with nearly 20 years of product and market management experience and a proven track record in companies ranging from medical device start-ups to Fortune 500 corporations.

Most recently, Mr. Tremaglio served as director of marketing of gynecological surgical products at Hologic Corporation, where he managed more than $200 million in business and oversaw the execution of both physician and consumer business initiatives. Previously, Mr.

Tremaglio served in senior level positions at medical device companies WaveRx Corporation, ACMI Corporation (currently OLYMPUS) and Boston Scientific Corporation.

Mr. Switzer joins GI Dynamics with more than 20 years of experience in the medical device industry. Most recently, Mr. Switzer served as business development manager for Joint Research, a manufacturer of orthopedic products, where he was involved in all aspects of the business - from product development to strategic planning, to sales and marketing. Prior to that role, Mr. Switzer spent nearly 15 years with Smith & Nephew Surgical, where he held positions of increasing responsibility and was instrumental in launching new products, increasing sales and establishing a strong customer base in key territories across Australia.

Mr. Gottschalk comes to GI Dynamics with almost two decades of experience working with health insurance companies and medical device manufacturers throughout Germany and Europe. For the past six years, Mr. Gottschalk has served as the diabetes reimbursement manager for Medtronic Germany. In this position, Mr. Gottschalk was responsible for coordinating directly with major health insurance companies, negotiating contracts and managing key accounts. Mr. Gottschalk also oversaw all product support, customer service and health insurance service teams, and worked closely with the sales and marketing managers for the diabetes product line.

About GI Dynamics GI Dynamics, Inc. (ASX: GID) is pioneering the development and commercialization of effective, non-surgical treatments targeting the large and growing global patient populations with type 2 diabetes and obesity. The company's flagship product, the EndoBarrier(R), is a novel, non-surgical device proven to lower blood glucose levels and promote weight loss in diabetic and obese patients during the implant period. GI Dynamics currently markets the EndoBarrier in select regions in Europe, South America and Australia, and is planning near-term commercial expansion into additional markets. The EndoBarrier is not approved for sale in the United States and is considered investigational. Founded in 2003, GI Dynamics is headquartered in Lexington, Massachusetts. For more information, please visit www.gidynamics.com.

Forward-Looking Statements This announcement contains or may contain forward-looking statements that are based on management's beliefs, assumptions and expectations and on information currently available to management. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future are forward-looking statements, including without limitation our expectations with respect to our ability to commercialize our EndoBarrier(R) including our estimates of potential revenues, costs, profitability and financial performance; our ability to develop and commercialize new products including our ability to obtain reimbursement for our products; our expectations with respect to our clinical trials, including enrolment in or completion of our clinical trials and our associated regulatory submissions and approvals; our expectations with respect to the integrity or capabilities of our intellectual property position.

Management believes that these forward-looking statements are reasonable as and when made. You should not place undue reliance on forward-looking statements because they speak only as of the date when made. GI Dynamics does not assume any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. GI Dynamics may not actually achieve the plans, projections or expectations disclosed in forward-looking statements, and actual results, developments or events could differ materially from those disclosed in the forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, described in "Risk Factors" in our Prospectus lodged with the Australian Securities & Investments Commission on 3 August 2011.

CONTACT: Investor Enquiries: United States GI Dynamics, Inc.

Robert Crane, 781-357-3250 Chief Financial Officer or Australia Inteq Limited David Allen, +61 2 9231 3322 or Alan Taylor, +61 2 9231 3322 or Media Enquiries: North America/Europe Pure Communications Inc.

Dan Budwick, 973-271-6085 or Australia Buchan Consulting Group Rebecca Wilson, +61 3 9866 4722 KEYWORD: AUSTRALIA UNITED STATES NORTH AMERICA AUSTRALIA/OCEANIA MASSACHUSETTS INDUSTRY KEYWORD: HEALTH MEDICAL DEVICES DIABETES SOURCE: GI Dynamics, Inc.

Copyright Business Wire 2012 PUB: 04/04/2012 06:30 AM/DISC: 04/04/2012 06:30 AM http://www.businesswire.com/news/home/20120404005423/

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