Magnetecs Creates International Marketing Division Under Vice Chairman Eytan Lombroso

“Magnetecs is building corporate and operational infrastructure to support the commercialization and proliferation of our magnetic guidance technology around the world,” said Josh Shachar, CEO of Magnetecs Corporation. “The Board of Directors of Magnetecs is pleased to have our Vice Chairman, Eytan Lombroso, take responsibility for the key international sales and marketing function to support this growth."

Mr. Lombroso, who helped co-found Magnetecs in 2003, is a Senior Executive with over 30 years experience in investment banking, commercial banking, and technology commercialization. During the last ten years, Eytan was Senior Managing Director for Allegiance Capital, a mid-market investment bank. Previously he was a Senior Bank Executive with JP Morgan Chase, where he was responsible for building high-growth bank businesses in the areas of credit card, Internet and merchant processing.

“Sales and marketing are the near-term growth drivers of Magnetecs as the company moves from research and development to commercialization of our technology. To this end, we have hired onboard two highly experienced sales and marketing executives in our industry: Michael Heuer, Vice President for European Sales and Marketing; and Jerry Hu, Vice President for Sales and Marketing in Asia, Australia and Canada. We are confident that these two executives can deliver the rapid ramp-up in CGCI sales we expect to achieve at major electrophysiology medical centers around the world,” said Mr. Lombroso.

Michael Heuer, Vice President for European Sales and Marketing at Magnetecs, is a seasoned executive in the cardiology device industry and since 2003 served in increasingly responsible sales and marketing positions at Stereotaxis Corporation, based in St. Louis, Missouri. He most recently was Vice President for Capital Sales in Europe at Stereotaxis, a position he held since 2009. Prior to joining Stereotaxis, he served as a Sales Manager at Sulzer Carbometics, Inc., based in Austin, Texas.

Jerry Hu, Vice President of Sales & Marketing, responsible for Asia, Australia and Canada, has held sales and marketing management positions for 14 years in several electrophysiology device companies that employ the use of leading-edge technologies. These positions include Business Director of Asia Pacific at Atritech, Inc., based in Plymouth, Minnesota; Area Director, Asia Pacific at Ablation Frontiers, Inc. based in Carlsbad, California, and now part of Medtronic, Inc.; Vice President, Asia Pacific Sales at Stereotaxis, Inc.; Area Director, Asia Pacific at Endocardial Solutions, Inc. (ESI), based in St. Paul, Minnesota and part of St. Jude Medical Inc; and International Territory Manager at Prucka Engineering, Inc., based in Houston, Texas, and now part of GE Healthcare.

CGCI SALE AND PIPELINE
On August 29, 2011, Magnetecs reported the sale of the CGCI System for installation at Yonsei University Severance Hospital in Seoul, South Korea. This transaction represents the first sale in Asia of the Magnetecs CGCI system.

Magnetecs previously installed its CGCI system at Hospital Universitario La Paz in Madrid, Spain, where the first phase of human clinical trials for patients with arrhythmia has been completed. In this study, a highly detailed map of the heart was created using the CGCI system. The primary outcome of the study measures intracardiac anatomic site target acquisition and repetition of acquisition. A description of the study can be found on the Magnetecs website and the ClincalTrials.gov website available here.

Magnetecs has also completed a definitive agreement to install its CGCI system at Mount Sinai Medical Center in New York City in 2012. In Europe, the Company has completed a definitive agreement to install its CGCI system at Na Homolce Hospital in Prague, Czech Republic. Several additional installations are currently planned in the U.S., U.K., Canada, Italy, Israel, Scandinavia, and Asia.

ABOUT CGCI
CGCI is a unified system for robotic guidance, control and imaging of catheters and other advanced tools used in electrophysiological and other procedures. Previous magnetic guidance systems use large, independent magnets which emit a substantial and continuous magnetic field, have limited control capabilities, and require shielding. In contrast, Magnetecs’ CGCI system creates an electromagnetic field that is largely contained in the electromagnetic array and focused in an area no larger than the patient’s chest. CGCI only emits a magnetic field when in use and can dynamically adjust and manipulate this field to safely and reliably achieve unprecedented three-dimensional catheter-guidance precision and responsiveness. The CGCI system is integrated with sophisticated cardiac mapping and navigation technologies, including X-ray, intracardiac echocardiography (ICE), and other advanced electrophysiology lab technologies and equipment. Magnetecs is planning additional applications of the Company’s electromagnetic technology in the fields of interventional cardiology, gastroenterology, neurology, and gynecology.

ABOUT MAGNETECS
Magnetecs Corporation designs and manufactures a unique and highly efficient robotic catheterization control system for minimally invasive surgical procedures and the advanced specialized tools used in these procedures. The Company believes that its proprietary CGCI system will greatly improve the efficacy, safety and cost efficiency of many common minimally invasive surgeries. Magnetecs has established advanced electrophysiology surgical suites for CGCI development and testing at the Company’s headquarters facility in Inglewood, California.

For Further Information, Contact:
Daniel Saks, SVP, Corporate Affairs
(310) 670-7700