NxStage Appoints Tom Shea as Senior Vice President of Manufacturing Operations
LAWRENCE, Mass., March 31 /PRNewswire-FirstCall/ — NxStage Medical, Inc. (Nasdaq: NXTM), a leading manufacturer of innovative dialysis products, today announced that Tom Shea has joined the Company as Senior Vice President of Manufacturing Operations, effective March 31, 2008. Mr. Shea will be responsible for all of NxStage’s manufacturing operations, including the Company’s five manufacturing facilities.
Mr. Shea joins NxStage with more than 20 years of operational management experience. Prior to joining NxStage, Mr. Shea held several leadership positions at Jabil Incorporated, a $12 billion Tier I contract manufacturer. Most recently, Mr. Shea served as Jabil’s Global Business Unit Manager, supporting clients in the aerospace, defense and telecommunications industries. In this capacity, he developed operations, pricing and logistics strategies and implemented manufacturing plans that resulted in significant quarterly cost reductions. He previously served as Operations Manager at Jabil where he had full plant profit and loss responsibility for their Massachusetts facility.
Tom comes from an industry built on aggressive cost management and I believe his experience working with regulated devices will be of tremendous benefit to NxStage, said Jeffrey H. Burbank, President & Chief Executive Officer of NxStage Medical. Tom is a great fit for NxStage and we are extremely pleased to welcome him to the team.
Mr. Shea earned his M.B.A. at The University of Massachusetts and his B.S. in Production and Operations Management at Bryant University. He has completed the Operations Executive Leadership Program at Harvard University as well as Six Sigma Training.
About NxStage Medical
NxStage Medical, Inc. (Nasdaq: NXTM) is a medical device company, headquartered in Lawrence, Massachusetts, USA, that develops, manufactures and markets innovative products for the treatment of end-stage renal disease, or ESRD, and acute kidney failure. For more information on NxStage and its products, please visit the Company’s website at https://www.nxstage.com.
Forward-Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this release that are not clearly historical in nature are forward-looking, and the words anticipate, believe, expect, estimate, plan, and similar expressions are generally intended to identify forward-looking statements. Examples of these forward-looking statements include statements as to the contributions Mr. Shea will make to the Company’s performance and operating results. All forward-looking statements involve risks, uncertainties and contingencies, many of which are beyond NxStage’s control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance or achievements. Certain factors which may affect future operating results are detailed in NxStage’s filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the year ended December 31, 2007. In addition, the statements in this press release represent NxStage’s expectations and beliefs as of the date of this press release. NxStage anticipates that subsequent events and developments may cause these expectations and beliefs to change. However, while NxStage may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so, whether as a result of new information, future events, or otherwise. These forward-looking statements should not be relied upon as representing NxStage’s expectations or beliefs as of any date subsequent to the date of this press release.
SOURCE NxStage Medical, Inc.
Contact:
Kristen K. Sheppard, Esq.
Vice President, Investor Relations
NxStage Medical Inc. (NXTM)
978/332-5923
Web site: https://www.nxstage.com
