ArthroCare Corp. (Pink Sheets: ARTC.PK) today announced that Todd
Newton, 46, has been appointed to the position of Senior Vice President
and Chief Financial Officer of ArthroCare, effective immediately. Mr.
Newton will report directly to David Fitzgerald, ArthroCare’s Acting
President and Chief Executive Officer.
“On behalf of ArthroCare’s Board and Management, I would like to welcome
Todd as our new CFO,” said Mr. Fitzgerald. “We are fortunate to have a
seasoned veteran like Todd as part of our team while we continue to work
through the review and restatement of our past financial results. Todd’s
broad range of financial, operational, strategic and accounting
experience makes him an excellent addition to the Company and I know
that he will be an asset as we work through our ongoing process and
beyond.”
Mr. Newton most recently served in various executive officer roles at
Synenco Energy, Inc. from 2004 to 2008, including as President and Chief
Executive Officer; President and Chief Operating Officer; and Executive
Vice President and Chief Financial Officer. As Chief Financial Officer,
Mr. Newton led Synenco Energy’s IPO, which at the time was the largest
IPO of any oil and gas company on the Toronto Stock Exchange during the
preceding 10 years. As President, he led the post-IPO development of
corporate systems and practices. Subsequent to this, Mr. Newton led
Synenco Energy through an extensive restructuring program and strategic
options review that eventually resulted in the sale of the company.
Before joining Synenco Energy, Mr. Newton served in various roles at
Deloitte & Touche LLP from 1984 to 2004, including as partner from 1994
to 2004. At Deloitte & Touche LLP Mr. Newton was responsible
for delivery of the firm's audit and advisory services to a number
of its large, multi-national public company clients.
Mr. Newton earned a bachelor’s degree in business administration from
the University of Texas at San Antonio, from which he graduated in 1984.
Mr. Newton is a member of the Texas State Society of Certified Public
Accountants and the American Institute of Certified Public Accountants.
In the past, he has been a member of the Minnesota State Society of
CPA’s and the Pennsylvania Institute of CPA’s.
ABOUT ARTHROCARE
Founded in 1993, ArthroCare Corp. 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.
ArthroCare Corp.
Corinne Ervin, 512-391-3907
or
Joele
Frank, Wilkinson Brimmer Katcher
Andrea Priest or Jennifer
Friedman, 212-355-4449
