Medigus Ltd. Announces Management Change: Board Approves the Appointment of Christopher Rowland as CEO

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Mr. Rowland to Replace Dr. Elazar Sonnenschein, Founder & CEO, who will Head Global Operations.

Omer, Israel, 13 August, 2013 -- Medigus, Ltd. (TASE:MDGS), a leading medical device company dedicated to the development of innovative endoscopy-based surgical procedures and technologies, announced today that its Board of Directors has approved the appointment of Mr. Christopher (Chris) Rowland as chief executive officer of the company. 

Mr. Rowland, who has served as a director of Medigus since March 2013, will replace Dr. Elazar Sonnenschein, a Founder and the current chief executive officer of the company. The appointment is subject to approval by the company's shareholders, who will convene within approximately one month.

Dr. Sonnenschein, a founder of Medigus and its CEO since the company’s establishment in 2000, will assume the role of global chief operating officer, and will assist in Mr. Rowland's transition. In his role as global COO, Dr. Sonnenschein will be responsible for operations, manufacturing and R&D.

Dr. Nissim Darvish, Medigus’ chairman of the board stated: “Chris possesses deep knowledge, expertise and rich experience in leading medical device companies to commercial and financial success. As we expand globally and enhance our sales and marketing infrastructure, we believe that his experience will take us to the next phase in our development – the introduction of our flagship product, the SRS™, both in our U.S. target market, in Europe, and globally, positioning the company as a world leader in the field of minimally-invasive procedures for gastroenterology and other surgical procedures". 

Dr. Elazar Sonnenschein, Medigus’ current CEO added: "Chris’s appointment strengthens our management team and I look forward to working with him and under his leadership in support of our commercial and clinical objectives, as well as our vision of becoming a standard-setter in the field of surgical endoscopy."

Mr. Rowland said: "Medigus offers advanced technological solutions, wonderful talent and a robust infrastructure for future growth. These competitive advantages will support our vision to become an innovative market leader in the minimally invasive medical markets. Our goal is to establish the SRS system as an alternative to more invasive surgical procedures and continue to build Medigus as a global innovative company in the field of endoscopy and gastroenterology. I thank the Board for their confidence and support, and look forward to working with Elazar and his team".

Mr. Rowland, 51, has twenty-four years’ experience in the life sciences market, specifically in the medical device and non-invasive medicine sectors. During his career he has held senior executive positions in the USA and overseas in both public and private companies, ranging from large multi-national corporations to small innovative companies. During 2006 - 2009, he served as president, Americas at Given Imaging, and was also a member of the company's Executive Committee. During his tenure, Given Imaging revenues in the U.S. doubled and operating profit increased. Prior to his position at Given Imaging, Mr. Rowland served seventeen years in positions of increasing responsibility at the Boston Scientific Corporation, including country manager for Israel and global vice president of marketing for the Endoscopy division. Most recently, Mr. Rowland served as CEO of NeoTract, Inc. and president of IntraPace, Inc. 

Dr. Darvish concludes: "I would like to express my sincere appreciation for the contributions of Dr. Elazar Sonnenschein, Medigus' current CEO and leader. Dr. Sonnenschein founded the company and developed Medigus' advanced technology. He will remain a valuable asset for Medigus and will continue to be involved in the production and technological development of our products".

Medigus is at the forefront of the transition from invasive gastric surgery procedures to advanced minimally invasive treatment techniques, particularly with regard to GERD (gastroesophageal reflux disease), which is increasing in global prevalence. The company’s SRS™ system allows treatment of chronic reflux by means of a one-time endoscopic procedure, which restores the patient's health and quality of life. The single-use SRS™ system achieves this without compromising safety or efficacy, as proven during previous clinical trials. Medigus' minimally invasive technology platform not only enhances patient care, but may also affect hospital and health insurer efficiency with lower costs and reduced hospitalizations. 


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