Manny Villafaña, Chairman and Chief Executive Officer of Kips Bay Medical, Inc. (NASDAQ: KIPS) announced the addition of two new officers to the Company’s management team and the departure of one officer.

On May 2, 2011, Mr. Michael Reinhardt will join the Company as its Vice President of Sales & Marketing. Mr. Reinhardt has thirty years of sales and marketing experience. Mr. Reinhardt’s recent experience includes serving as Vice President of Global Marketing of ATS Medical, Inc., a provider of heart valves and life-saving cardiac surgery products and Vice President of Global Marketing for the Cardiac Surgery Division of St Jude Medical, Inc. Mr. Reinhardt holds a Master of Business Administration in general business from Baruch College, New York, NY and a Bachelor of Business Administration in Marketing from Ohio University, Athens, OH.

On May 16, 2011, Mr. Randall K. LaBounty will join the Company as its Vice President of Regulatory and Clinical Affairs. Mr. LaBounty has over twenty years of experience working in medical research with sixteen years of experience in cardiovascular medical devices. Prior to joining the Company, Mr. LaBounty served as Vice President of Clinical Research of Osprey Medical and as the Vice President of Clinical and Regulatory Affairs for Lumen Biomedical, Inc. Mr. LaBounty holds a Master of Science in Biostatistics and a Bachelor of Science in Genetics and Cell Biology from the University of Minnesota.

Michael P. Winegar, Vice President of Regulatory Affairs, Chief Operating Officer, and Director of Kips Bay Medical, Inc. (the “Company”), recently notified the Company of his intention to retire from his position as an executive officer and employee of the Company. Mr. Winegar will remain with the Company in his current position for a period of time to participate in the transition and training of the Company’s new Vice President of Regulatory and Clinical Affairs and has agreed to provide assistance to the Company and our Board of Directors on a consulting basis after his final separation from employment. Mr. Villafaña will assume responsibility for oversight of the operations of the Company upon Mr. Winegar’s departure. Mr. Winegar will not be nominated for re-election as a Director at the Company’s 2011 Annual Meeting of Stockholders, and will remain as a Director of the Company until such meeting.

“We will always be grateful to Mike Winegar for his tremendous contribution over the past four years and deeply saddened by his decision to retire” said Mr. Villafaña. “But we are also very fortunate to be able to welcome two very experienced and successful leaders to our team who will help us build on the accomplishments of Kips Bay.”

The Company received its European CE mark for its eSVS MESH in May 2010, which was the result of successfully completing a 90 patient study in seven countries. The first patient from the Company’s international study has now had an eSVS MESH implant for over 2½ years. The Company has begun commercialization of the eSVS Mesh outside of the U.S. with approximately 14 centers presently implanting the eSVS Mesh, including six centers in Switzerland, six centers in Italy and one center each in the United Arab Emirates and Ireland. As of today the Company estimates over 200 implants have been completed.

The Company continues to work with the United States Food & Drug Administration (“FDA”) to obtain an Investigational Device Exemption (“IDE”) to commence a clinical trial in the U.S. Twelve (12) highly regarded clinical trial sites have indicated their interest in participating in our IDE trial.

Additionally, the Company is in discussions with a number of key institutions in Europe to begin a post market study which the Company believes will develop long-term data demonstrating the effectiveness of the eSVS MESH. The Company expects the results of this study will facilitate our efforts to secure additional regulatory and reimbursement approvals for our eSVS MESH.

Patent Update

The Company also announced that it has received its first issued eSVS MESH patent, which was received from Japan. As previously communicated, the Company has recently received notices of allowance on one Canadian application and one European application. Therefore the Company now has six patent applications pending in the United States and one issued and ten patent applications in countries outside the United States. The Company also has one pending international patent application which will be filed in Europe and Japan by May 2011.

About Kips Bay Medical

Kips Bay Medical, Inc., founded in 2007 and headquartered in Minneapolis, Minnesota, is a development stage medical device company focused on developing, manufacturing and commercializing its eSVS MESH for use in coronary artery bypass grafting surgery. Additional information about Kips Bay Medical, Inc. can be found at www.kipsbaymedical.com.

Safe Harbor

Certain statements in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are provided under the protection of the safe harbor for forward-looking statements provided by that Act. For example, statements in this press release regarding (i) obtaining an Investigational Device Exemption (“IDE”) to commence a clinical trial in the U.S.; and (ii) beginning a post market study to develop long-term data demonstrating the effectiveness of the eSVS MESH are forward-looking statements. These statements involve risks and uncertainties which could cause results to differ materially from those projected, including but not limited to the potential for the FDA’s refusal to grant, or delays in granting, IDE approval and unanticipated delays in enrolling medical centers and patients for clinical trials and other factors detailed from time to time in our SEC filings, including our prospectus filed on February 11, 2011. The Company encourages you to consider all of these risks, uncertainties and other factors carefully in evaluating the forward-looking statements contained in this release. The forward-looking statements made in this release are made only as of the date of this release, and the Company undertakes no obligation to update them to reflect subsequent events or circumstances.

Copyright Business Wire 2010

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