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8-K - FORM 8-K - INSULET CORP | b84250e8vk.htm |
EX-10.1 - EX-10.1 - INSULET CORP | b84250exv10w1.htm |
Exhibit 99.1
Insulet Appoints Charles Liamos as
Chief Operating Officer
Chief Operating Officer
BEDFORD, MA, January 10, 2011 Insulet Corporation (NASDAQ: PODD), the leader in
tubing-free insulin pump technology with its OmniPod(R) Insulin Management System, today announced
the appointment of Charles Liamos as the companys Chief Operating Officer. Mr. Liamos, a member
of Insulets Board of Directors since 2005, will continue to serve in that role.
Charlie brings unparalleled experience in managing the operations of high growth companies in the
diabetes industry to take them to the next level of performance, said Duane DeSisto, President and
Chief Executive Officer of Insulet. As we prepare to further our lead in the tubeless insulin
pump industry with our next generation OmniPod, we are confident that Charlies proven track record
will help us to further grow the opportunities for this unique and innovative therapy.
Mr. Liamos has over 15 years of career experience in the diabetes industry, most recently serving
as the Division Vice President of Abbott Diabetes Care. At Abbott, he was responsible for
world-wide finance and operations for the Diabetes Care division, including integrating the
acquisitions of MediSense and TheraSense. Prior to its acquisition by Abbott, Mr. Liamos was with
TheraSense, Inc. as the companys Chief Operating Officer and Chief Financial Officer. Previously,
he served as Director of Worldwide Sourcing at LifeScan, Inc., a division of Johnson & Johnson.
As a member of the Insulet Board of Directors, I have had the opportunity to get to know Duane and
his management team very well, commented Mr. Liamos. I am pleased to join this strong team at
such an exciting time in the Companys evolution. My goal is to further expand and improve our
global operational capabilities as we continue on our path of rapid growth.
Mr. Liamos is also a partner in MedVenture Associates, a venture capital firm specializing in the
medical technology industry. Mr. Liamos will continue to manage certain MedVentures investments
by remaining on the boards of three portfolio companies.
Prior to his experience in the diabetes industry, Mr. Liamos held various operational and financial
roles at Martin Marietta and GE Aerospace for over nine years. Mr. Liamos earned a Bachelor of
Science from the University of Vermont and is a graduate of the General Electric Financial
Management Program.
About Insulet Corporation
Insulet Corporation is an innovative medical device company dedicated to improving the lives of
people with diabetes. The Companys OmniPod Insulin Management System is a revolutionary, discreet
and easy-to-use insulin infusion system that features two easy-to-use parts with no tubing and
fully-automated cannula insertion. Through the OmniPod System, Insulet seeks to expand the use of
continuous subcutaneous insulin infusion (CSII) therapy among people with insulin-dependent
diabetes. Founded in 2000, Insulet is based in Bedford, MA.
Forward Looking Statement
This press release contains forward-looking statements concerning Insulets expectations,
anticipations, intentions, beliefs or strategies regarding the future, including those related to
its expected future growth. These forward-looking statements are based on its current expectations
and beliefs concerning future developments and their potential effects on it. There can be no
assurance that future developments affecting it will be those that it has anticipated. These
forward-looking statements involve a number of risks, uncertainties (some of which are beyond its
control) or other assumptions that may cause actual results or performance to be materially
different from those expressed or implied by these forward-looking statements. These risks and
uncertainties include, but are not limited to: risks associated with the Companys dependence on
the OmniPod System; Insulets ability to increase customer orders and manufacturing volumes;
adverse changes in general economic conditions; impact of healthcare reform legislation; Insulets
inability to raise additional funds in the future on acceptable terms or at all; potential supply
problems or price fluctuations with sole source or other third-party suppliers on which Insulet is
dependent; international business risks; Insulets inability to obtain adequate coverage or
reimbursement from third-party payors for the OmniPod System and potential adverse changes in
reimbursement rates or policies relating to the OmniPod; potential adverse effects resulting from
competition with competitors; technological innovations adversely affecting the Companys business;
potential termination of Insulets license to incorporate a blood glucose meter into the OmniPod
System; Insulets ability to protect its intellectual property and other proprietary rights;
conflicts with the intellectual property of third parties, including claims that Insulets current
or future products infringe the proprietary rights of others; adverse regulatory or legal actions
relating to the OmniPod System; failure of Insulets contract manufacturers or component suppliers
to comply with FDAs quality system regulations, the potential violation of federal or state laws
prohibiting kickbacks or protecting patient health information, or any challenges to or
investigations into Insulets practices under these laws; product liability lawsuits that may be
brought against Insulet; reduced retention rates; unfavorable results of clinical studies relating
to the OmniPod System or the products of Insulets competitors; potential future publication of
articles or announcement of positions by physician associations or other organizations that are
unfavorable to Insulets products; the expansion, or attempted expansion, into foreign markets; the
concentration of substantially all of Insulets manufacturing capacity at a single location in
China and substantially all of Insulets inventory at a single location in Massachusetts; Insulets
ability to attract and retain key personnel; Insulets ability to manage its growth; fluctuations
in quarterly results of operations; risks associated with potential future acquisitions; Insulets
ability to generate sufficient cash to service all of its indebtedness; the expansion of Insulets
distribution network; Insulets ability to successfully maintain effective internal controls; and
other risks and uncertainties described in its Annual Report on Form 10-K, as amended, which was
originally filed with the Securities and Exchange Commission on March 9, 2010 in the section
entitled Risk Factors, and in its other filings from time to time with the
Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize,
or should any of its assumptions prove incorrect, actual results may vary in material respects from
those projected in these forward-looking statements. Insulet undertakes no obligation to publicly
update or revise any forward-looking statements.
Contact:
Stephanie Marks for Insulet Corporation
Email Contact
877-PODD-IR1 (877-763-3471)
Stephanie Marks for Insulet Corporation
Email Contact
877-PODD-IR1 (877-763-3471)