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Conceptus(R) Names Joseph G. Sharpe As Executive Vice President Of Operations

Stocks in this article: CPTS

MOUNTAIN VIEW, Calif., Jan. 22, 2013 (GLOBE NEWSWIRE) -- Conceptus, Inc. (Nasdaq:CPTS), developer of the Essure ® procedure, the leading surgery-free permanent birth control method, announced today that it has appointed operations executive Joseph G. Sharpe to the newly-created position of Executive Vice President of Operations, effective immediately. Mr. Sharpe has 25 years of experience optimizing the operations of world-class medical device companies. He will lead the Company's global operations and manufacturing efforts and report directly to Conceptus President and Chief Executive Officer, D. Keith Grossman.

Mr. Sharpe joins Conceptus from OptoVue Medical, where he served as the Senior Vice President of Operations. In this role, Mr. Sharpe managed all aspects of operations including manufacturing, supply chain, engineering, and the quality assurance functions of the company, among others. Mr. Sharpe's experience also includes eight years with Thoratec Corporation, from 1997 to 2005, where he held the position of Vice President of Operations. During his time at Thoratec, Mr. Sharpe was responsible for manufacturing, supply chain, engineering, facilities, customer service and durable equipment repair.

Prior to his tenure at Thoratec Corporation, Mr. Sharpe held numerous positions in operations with Baxter Healthcare Corporation from 1983 to 1997, with increasing scale and responsibility culminating in his role as Director of Operations from 1992 to 1997. Mr. Sharpe received a B.S. degree in mechanical engineering from the University of Massachusetts at Lowell in 1981.

Costa Rica Manufacturing

After an extensive evaluation of potential manufacturing locations, Conceptus has decided to internalize future manufacturing expansion of Essure with operations in Costa Rica. The company believes that Costa Rica offers favorable labor rates, low tax rates and an experienced pool of employees that are skilled in medical device manufacturing.  Conceptus Costa Rica S.R.L., the company's subsidiary, expects to install a production line and begin validation in the second half of 2013 in preparation for an FDA regulatory submission in the first half of 2014. Conceptus expects that once the plant is operational, product manufacturing costs will be significantly lower than current outsourced production costs.   

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