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ArthroCare Announces Senior Management Promotions

^{Published on 2008-12-19 12:06:21, Last Modified on 2008-12-19 12:07:51 - Market Wire}
 

AUSTIN, Texas--([ BUSINESS WIRE ])--ArthroCare Corp. (NASDAQ:ARTC) today announced several senior management promotions, all of which are effective immediately.

James L. Pacek has been promoted to the position of Senior Vice President, Strategic Business Units. Mr. Pacek most recently served as Vice President and General Manager, Interventional Therapies and also has experience in directing ArthroCare's Sports Medicine business. Mr. Pacek has held progressive sales, marketing and general management responsibilities with American Hospital Supply, Baxter, Medtronic and Sorin Group. Mr. Pacek holds a Bachelors Degree in Business Administration from the University of Illinois.

Sten I. Dahlborg has been promoted to the position of President, International. Mr. Dahlborg most recently served as Senior Vice President and General Manager, International Operations. Prior to joining ArthroCare in 1998, Mr. Dahlborg worked for Medtronic Synectics serving as the Company's Business Director. Mr. Dahlborg holds a M.Sc. degree in Engineering Physics from Chalmers University of Technology, Gothenburg, Sweden.

Richard W. Rew, II has been promoted to the position of Senior Vice President and General Counsel. Mr. Rew joined ArthroCare is 2006 and most recently served as Vice President, Legal Affairs. Mr. Rew had previously served as Vice President, General Counsel and Secretary of Activant Solutions Inc. and as General Counsel of EZCORP Inc. He is a member of the State Bar of Texas. Mr. Rew holds a BA from the Plan II Honors Program at the University of Texas at Austin and a JD from the University of Oklahoma College of Law.

Michael N. Moehring has been promoted to the position of Vice President and General Manager, Spine Businesses. Mr. Moehring most recently served as Senior Director, Sales and Marketing of ArthroCare's Spine Businesses. Mr. Moehring has been with ArthroCare for approximately 11 years and has served the company in numerous capacities including as Regional Manager for the Sports Medicine division and as Director of Sales for the Spine Division. He holds a Bachelors Degree in Industrial Relations from the University of Cincinnati.

Brian T. Simmons has been promoted to the position of Vice President, Finance and Chief Accounting Officer. Mr. Simmons joined ArthroCare in February 2007 and most recently served as Vice President, Finance. Mr. Simmons holds a Bachelor of Science Degree in Business Administration from Trinity University and a Master's Degree in Accounting from Trinity University and is a Certified Public Accountant

ABOUT ARTHROCARE

Founded in 1993, ArthroCare Corp. ([ www.arthrocare.com ]) is a highly innovative, multi-business medical device company that develops, manufactures and markets minimally invasive surgical products. With these products, ArthroCare targets a multi-billion dollar market opportunity across several medical specialties, significantly improving existing surgical procedures and enabling new, minimally invasive procedures. Many of ArthroCare's products are based on its patented Coblation technology, which uses low-temperature radiofrequency energy to gently and precisely dissolve rather than burn soft tissue — minimizing damage to healthy tissue. Used in more than four million surgeries worldwide, Coblation-based devices have been developed and marketed for sports medicine; spine/neurologic; ear, nose and throat (ENT); cosmetic; urologic and gynecologic procedures. ArthroCare also has added a number of novel technologies to its portfolio, including Opus Medical sports medicine, Parallax spine and Applied Therapeutics ENT products, to complement Coblation within key indications.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

The information provided in this press release includes forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Statements that are not historical facts are forward-looking statements. These statements are based on beliefs and assumptions by management, and on information currently available to management. Forward-looking statements speak only as of the date they are made, and ArthroCare undertakes no obligation to update any of them publicly in light of new information or future events. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Examples of these factors include, but are not limited to: unanticipated accounting issues or audit issues regarding the financial data for the periods being restated; the identification of additional accounting errors in the periods being restated or other periods; the timing of recognition of revenue for the periods being restated may change; the period in which the an impairment charge, if any, is recognized may change; additional personnel changes; additional changes in business operations; the identification of additional deficiencies and/or material weaknesses in internal controls; the ability of the Company and its independent registered public accounting firm to confirm information or data identified in the Review; unanticipated issues regarding the Review that prevent or delay the Company's independent registered public auditing firm from relying upon the Review or that require additional efforts, documentation, procedures, review or investigation; the Company's ability to design or improve internal controls to address issues detected in the Review or by management in its reassessment of the Company's internal controls; the impact upon the Company's operations of the Review, legal compliance matters or internal controls, improvement and remediation; difficulties in controlling expenses, including costs of the Review, legal compliance matters or internal controls review, improvement and remediation; the Company's ability to meet the deadlines in the conditional decision of the Nasdaq Listing Qualifications Panel to grant the Company's request for continued listing on The Nasdaq Global Select Market; the Company's ability to become current in its SEC periodic reporting requirements; the outcome of pending litigation; general business, economic and political conditions; competitive developments in the medical devices market; changes in applicable legislative or regulatory requirements; the Company's ability to effectively and successfully implement its financial and strategic alternatives, as well as business strategies, and manage the risks in its business; the reactions of the marketplace to the foregoing; and other risks and uncertainties discussed more fully in the Company's SEC filings, including those discussed under Item 1A. "Risk Factors" in its Form 10-K for the fiscal year ended December 31, 2007.