Prosurgics Appoints Paul Moraviec as CEO Key Industry Player to Lead Next Stage of Company's Growth Plan

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Prosurgics, the leading image-guided surgical robotics company, today announced the appointment of Paul Moraviec as its new CEO, with effect from 9 July 2007. Moraviec, 49, joins Prosurgics from Abbott Laboratories, where he held the position of Vice President, International Commercial Operations for the Abbott Diabetes Care Division. He was responsible for transforming the Division's performance to its current $700 million sales and double digit growth, building a world class customer-facing team, and played a key role in the $1.2 billion acquisition and integration of TheraSense.

Prosurgics, the leading image-guided surgical robotics company, today announced the appointment of Paul Moraviec as its new CEO, with effect from 9 July 2007. Moraviec, 49, joins Prosurgics from Abbott Laboratories, where he held the position of Vice President, International Commercial Operations for the Abbott Diabetes Care Division. He was responsible for transforming the Division's performance to its current $700 million sales and double digit growth, building a world class customer-facing team, and played a key role in the $1.2 billion acquisition and integration of TheraSense.

Commented Kevin D'Silva, Chairman of Prosurgics, "Paul has an outstanding track record within the global medical device market. His ability to drive businesses into leading competitive positions in the medical device industry is unquestionable. He joins Prosurgics as it is poised for significant revenue growth, and I am confident that his skills in strategy development and operational execution will lead it to our goal of rapid growth and profitability."

Prior to his role at Abbott, Moraviec was the CEO of IIT Ltd, a UK start-up commercialising an innovative continuous glucose monitoring technology. He had joined IIT with a seven-year track record of driving profitable growth with Johnson & Johnson, his last position being VP of J&J's Codman neurosurgery business.

Comments Paul Moraviec, "I am excited to be joining Prosurgics at this pivotal stage in its development. It is clear that surgical robots are rapidly becoming accepted in the operating room by surgeons. Prosurgics is extremely well placed to become one of leading players in what is widely expected to be the 'next big wave' in medical devices. Its superb product pipeline and strong IP put us in a very competitive position to be at the forefront of this growth curve."

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