TORONTO, May 12 /PRNewswire-FirstCall/ - Novadaq(R) Technologies Inc.(TSX: NDQ), a developer of real-time imaging and image guidance systems foruse in the operating room, today announced that John T. Reidy, has beenappointed Chief Financial Officer of Novadaq Technologies Inc., assuming therole on June 1, 2008. Novadaq also announced today that Roger Deck, currentChief Financial Officer, will move to a senior business management role withinthe Company and will work closely with Dr. Rick Mangat, Novadaq VP and GeneralManager, to further strengthen operating activities of the business.
Mr. Reidy joins Novadaq with more than twenty years of financialmanagement experience. Prior to his appointment at Novadaq and since 2004, Mr.Reidy led the finance department at GE Healthcare Canada where he served asCountry Financial Officer and was responsible for a portfolio of businessunits. Between 1998 and 2004, Mr. Reidy held the position of Head of RiskManagement and Operational Review for Amersham, PLC a United Kingdom (U.K.)multinational $2 Billion diagnostics and life sciences company listed in boththe U.K. and United States. Throughout his career, Mr. Reidy has held variousexecutive financial management positions with other companies including NCR.Mr. Reidy holds an M.B.A. from the Manchester Business School in Manchesterand accounting designations in both the U.K. and Canada.
"John is a veteran of the healthcare and IT industries and is a perfectaddition to Novadaq's executive team, as his wealth of experience will furtherstrengthen our collective knowledge and capabilities," said Dr. Arun Menawat,President and CEO of Novadaq Technologies Inc. "I am also excited to haveRoger in his new role, as he has made significant contributions during histenure at Novadaq."
About Novadaq Technologies
Novadaq Technologies Inc. commercializes real-time imaging and imageguidance systems for use in the operating room. With one set of proprietarycore technologies, Novadaq's products have multiple applications. Novadaq'sSPY(R) System enables cardiac surgeons to diagnose intra-operatively byvisually assessing coronary vasculature and bypass graft functionality duringthe course of heart bypass surgery. The SPY System is also indicated for useduring other surgeries, such as cardiovascular, plastic, reconstructive, organtransplant and urological procedures. SPY can be used to visualize bloodvessels, tumors, tumor margins and the lymphatic system. Novadaq introducedPINPOINT(TM), its first minimally invasive imaging system for autofluorescencein October 2007. PINPOINT allows surgeons to differentiate between healthy andcancerous tissue in the lungs and other hollow organs. Further expanding itsportfolio of minimally invasive products, Novadaq is developing SPYscope whichcombines the typical features of a standard endoscope with the additionalcapabilities of SPY imaging. Novadaq is the exclusive United Statesdistributor of PLC Medical's CO(2) HEART LASER System, used in the samecardiac procedures as the SPY System. Novadaq also offers the OPTTX(R) System,which leverages the company's core imaging technology and is designed for thediagnosis, evaluation and treatment of wet Age-related Macular Degeneration(AMD). For more information, please visit the company's website atwww.novadaq.com.
Forward looking Statements
Certain statements included in this press release may be consideredforward-looking. Such statements involve known and unknown risks,uncertainties and other factors that may cause actual results, performance orachievements to be materially different from those implied by such statements,and therefore these statements should not be read as guarantees of futureperformance or results. All forward-looking statements are based on Novadaq'scurrent beliefs as well as assumptions made by and information currentlyavailable to Novadaq and relate to, among o