PLEASANTON, Calif., Oct. 28, 2013 (GLOBE NEWSWIRE) -- ZELTIQ Aesthetics, Inc. (Nasdaq: ZLTQ ), a medical technology company focused on developing and commercializing products utilizing its proprietary controlled-cooling technology platform, today announced that D. Keith Grossman has joined its Board of Directors.
"We feel very fortunate to welcome Keith to our Board of Directors. Based on his extensive experience and successful track record in the medical device industry, we believe that he will be a valuable resource to the Company, and to me personally, as we continue to grow and scale our business," said Mark Foley, President and Chief Executive Officer of ZELTIQ.
"I am delighted to join ZELTIQ, a leading medical technology company, and an innovator in the non-invasive fat reduction category with its CoolSculpting ® System. I have been following the Company's impressive growth and success, and I look forward to working closely with the ZELTIQ board and management team to further the Company's goals," said D. Keith Grossman.
Mr. Grossman brings over 30 years of experience in the medical device industry. He most recently served as Chief Executive Officer, President and a Director of Conceptus, Inc., from December of 2011 until September of 2013, when the company was acquired by Bayer Healthcare for over $1.1 billion. Prior to Conceptus, Mr. Grossman served as a Managing Director of Texas Pacific Group (TPG) Biotech from 2007 to 2011, where he led the medical device practice for the venture capital fund, and also served as a Senior Advisor to the healthcare efforts of the buyout fund, TPG Capital. Before joining TPG, Mr. Grossman was Chief Executive Officer, President and a Director of Thoratec Corporation from 1996 to 2006. During his tenure at Thoratec, revenues grew from $3 million to over $200 million, while market value grew more than twelve-fold to over $1.2 billion. Before joining Thoratec, Mr. Grossman's experience included Sulzermedica and American Hospital Supply Corporation, in a variety of sales, marketing and general management positions. Mr. Grossman still serves on the Board of Directors of Thoratec, as well as the Board of Directors of the Medical Device Manufacturers Association. He is a past member of the Boards of Kyphon, Inc. and Intuitive Surgical, Inc., as well as several private companies.
About ZELTIQ ® Aesthetics, Inc.
ZELTIQ is a medical technology company focused on developing and commercializing products utilizing its proprietary controlled-cooling technology platform. ZELTIQ's first commercial product, the CoolSculpting System, is designed to selectively reduce stubborn fat that may not respond to diet or exercise. CoolSculpting is based on the scientific principle that fat cells are more sensitive to cold than the overlying skin and surrounding tissues. It utilizes patented technology of precisely controlled cooling to reduce the temperature of fat cells in the treated area, which is intended to cause fat cell elimination through a natural biological process known as apoptosis. ZELTIQ developed CoolSculpting to safely, noticeably, and measurably reduce the fat layer.
CONTACT: INVESTOR RELATIONS: Patrick F. Williams ZELTIQ, SVP and CFO 925-474-2500 Nick Laudico The Ruth Group for ZELTIQ 646-536-7030
