Maple Grove, MN (November 4, 2011) –SterilMed, Inc. (SterilMed), a leader in the reprocessing and remanufacturing of single use medical devices, today announced the appointment of Mike Gustafson as Company President. Gustafson will succeed Brian Sullivan, who intends to retire from the company following a transition period.
This announcement comes as Ethicon Endo-Surgery, Inc. (EES) announced in a separate news release the closing of its transaction to acquire SterilMed. SterilMed will continue to operate as a standalone company, focused on growing the market for single-use medical device reprocessing. SterilMed and EES will work together over the coming months to identify opportunities to grow the market and serve as many customers as possible. Gustafson will lead SterilMed’s operating management team working to sustain the company’s growth trajectory and leverage its already successful business model.
“I am confident Mike will prove to be an excellent leader to take SterilMed to the next level,” said Brian Sullivan, SterilMed’s outgoing Chairman and CEO. “I believe SterilMed is in a strong position with a great new opportunity to work with EES to serve customers and grow our business.”
Gustafson has been a part of EES and the family of companies of its parent company, Johnson & Johnson, for 23 years. Most recently, he provided key leadership as General Manager for the Worldwide EES Sedation Systems business since 2004. He has been instrumental in taking the SEDASYS® System from an innovative concept to market readiness Other prior roles include progressively increasing responsibilities in sales, marketing, education and business development at EES and Ethicon, Inc. in the U.S. and Asia Pacific regions. He holds a Bachelor of Science degree in Business Administration from the University of Iowa.
Gustafson added, “Reprocessing has gained widespread acceptance and there is tremendous opportunity to grow the market. This is an exciting new chapter for the company as we work to expand access to cost-effective reprocessed single-use medical device alternatives.”
SterilMed, based in Maple Grove, MN, offers products and services including single-use medical device reprocessing, equipment repair, and pre-owned equipment sales that help healthcare providers lower their medical device and equipment costs, while reducing the amount of environmental waste they generate.
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(This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of SterilMed, Inc. and/or Johnson & Johnson. Risks and uncertainties include, but are not limited to, general industry conditions and competition; economic factors, such as interest rate and currency exchange rate fluctuations; technological advances and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approvals; domestic and foreign health care reforms and governmental laws and regulations; trends toward health care cost containment; and increased scrutiny of the healthcare industry by government agencies. In addition, there are risks and uncertainties related to the ability of Ethicon Endo-Surgery, Inc. and Johnson & Johnson to successfully integrate the business, products and employees of SterilMed Inc., as well as the ability to ensure continued performance or market growth of SterilMed, Inc.’s business and products. A further list and description of these risks, uncertainties and other factors can be found in Exhibit 99 of Johnson & Johnson’s Annual Report on Form 10-K for the fiscal year ended January 2, 2011. Copies of this Form 10-K, as well as subsequent filings, are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Neither SterilMed, Inc. nor Johnson & Johnson undertakes to update any forward-looking statements as a result of new information or future events or developments.)