Joel I. Shalowitz, M.D., Appointed to Novadaq Board of DirectorsKellogg Professor Brings Expertise in Health Industry Management
TORONTO, ONTARIO – August 17, 2010 – Novadaq® Technologies Inc. (TSX: NDQ), a developer of real-time imaging systems for use in the operating room, today announced that Joel I. Shalowitz, M.D., MBA FACP, has been appointed to the company’s Board of Directors. Dr. Shalowitz is Professor and Director of Health Industry Management at Northwestern University’s Kellogg School of Management; Professor of Preventive Medicine at the Feinberg School of Medicine and Visiting Professor of Health Industry Management at the Schulich School of Business at York University in Toronto. He co-founded, and is managing partner of, a 20-member primary care group in the suburban Chicago area, where he practiced internal medicine for 21 years.
His honors include Fellowship in the American College of Physicians, Fulbright Scholarship at the Schulich Business School, York University in Toronto (2004) and Fulbright Senior Specialist and Visiting Professorship at Keio University Medical School in Tokyo (2007). His recent coauthored books are: Strategic Marketing For Health Care Organizations: Building A Customer-Driven Health System (Jossey-Bass, 2008) and Medical Innovation and Government Intervention (Taloustieto Oy, 2009).
Dr. Shalowitz received his Sc.B. and MD degrees from Brown University and his MBA degree from Northwestern University. He completed post-graduate internal medicine training at Northwestern.
“I am delighted to welcome Dr. Shalowitz to the Board of Directors,” said Dr. Arun Menawat, Novadaq CEO and President. “His expertise in health industry management and marketing, including health and insurance policy and quality improvement, is extremely relevant to our growing business and his guidance will be invaluable as we execute our strategic plan toward driving the further adoption of our SPY technology.”
About Novadaq Technologies Inc.
Novadaq Technologies develops and markets real-time fluorescence imaging technology products for use in the operating room. The company‟s primary core technology platform, SPY Imaging, provides clinically relevant, anatomic and physiologic images during a variety of complex open and minimally invasive surgical (MIS) procedures. SPY empowers surgeons treating life threatening diseases to more effectively treat vascular blockages; assess tissue perfusion; identify cancerous tumors and delineate margins; and visualize relevant lymph nodes for removal. More than 30 peer-reviewed publications demonstrate that SPY imaging leads to fewer post-operative complications and reduced hospital costs. The endoscopic SPY system (a SPY scope) combines all of the capabilities of SPY imaging with state-of- the- art high definition (HD) white light visualization offered by conventional endoscopes. The company‟s key markets include plastic reconstructive, gastrointestinal, cardiac and general surgery. To realize the full potential of its technology platform, Novadaq explores technology alliances. Novadaq announced its first alliance with Intuitive Surgical Inc. in January 2009, to integrate SPY imaging into the 3-D HD imaging capabilities of the da Vinci® Surgical Robotic System. In addition, Novadaq is the exclusive United States distributor of PLC Medical‟s CO2 HEART LASER System. For more information, please visit the company’s website at http://www.novadaq.com.
Certain statements included in this press release may be considered forward-looking. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements, and therefore these statements should not be read as guarantees of future performance or results. All forward-looking statements are based on Novadaq’s current beliefs as well as assumptions made by and information currently available to Novadaq and relate to, among other things, results of future clinical tests of the SPY Imaging System and SPY scope, anticipated financial performance, business prospects, strategies, regulatory developments, market acceptance and future commitments.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Due to risks and uncertainties, including the risks and uncertainties identified by Novadaq in its public securities filings actual events may differ materially from current expectations. Novadaq disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.