Dublin, Ireland – Mainstay Medical International plc (“Mainstay” or the “Company” listed on Euronext Paris: MSTY.PA and ESM of the Irish Stock Exchange: MSTY.IE) announces the appointment of Mr James A. Reinstein as an additional independent Director with immediate effect. Mr Reinstein brings a wealth of international knowledge and commercial expertise from a career of over twenty five years in the medical device industry.
Mr. Reinstein is currently President and CEO of Aptus Endosystems, a medical device company based in California. Prior to that he was Senior Vice President and Chief Commercial Officer of Cyberonics Inc., a leading medical device company in neuromodulation, and before that he had a distinguished 17 year career working for Boston Scientific, including serving as European Division Head of the Neurovascular Division based in Paris, France, where he lived for four years. Mr. Reinstein’s educational background is in Business, including completing an Executive Management Program at INSEAD in France.
Commenting on his appointment Mr Reinstein said, “I am extremely excited to be joining Mainstay’s Board of Directors. The Mainstay team has done an impressive job developing ReActiv8 for the large group of patients suffering from chronic low back pain and I look forward to adding value to this Company”.
Welcoming Mr Reinstein’s appointment, Mainstay Medical’s Chairman Dr Oern Stuge said, “We are delighted to have James join our Board. His background and experience add a complementary perspective as an independent Director of the Board”.
Mr. James A. Reinstein (aged 50) holds no shares in Mainstay, and, other than as set out below, there is no further information to be disclosed under schedule 2(g) and Rule 17 of the ESM Rules in respect of Mr. Reinstein's appointment as a Non-Executive Director.
Mr. Reinstein is, or has been, a director of the following companies during the previous five years:
Current Directorships: Aptus Endosystems Inc.
Past Directorships within last 5 years: None
Mainstay is a medical device company which is developing an innovative implantable neurostimulation medical device, ReActiv8®, for people with disabling Chronic Low Back Plan (CLBP). Low Back Pain is a leading cause of activity limitation and work absence throughout much of the developed world, imposing a high economic burden on individuals, families, communities, industry, and governments.
The Company is headquartered in Dublin, Ireland. It has subsidiaries operating in Ireland, the United States and Australia, and is listed on Euronext Paris (MSTY.PA) and the ESM of the Irish Stock Exchange (MSTY.IE).
About Chronic Low Back Pain
One of the recognised root causes of CLBP is impaired control by the nervous system of the muscles that dynamically stabilise the spine in the lower back, and an unstable spine can lead to back pain. ReActiv8 is designed to electrically stimulate the nerves responsible for contracting these muscles and thereby help to restore muscle control and improve dynamic spine stability, allowing the body to recover from CLBP.
People with CLBP usually have a greatly reduced quality of life and score significantly higher on scales for pain, disability, depression, anxiety and sleep disorders. Their pain and disability can persist despite the best available medical treatments, and only a small percentage of cases result from an identified pathological condition or anatomical defect that may be correctable with spine surgery. Their ability to work or be productive is seriously affected by the condition and the resulting days lost from work, disability benefits and health resource utilisation put a significant burden on economies.
Further information can be found at www.mainstay-medical.com.
ReActiv8 is an investigational device and is not approved for commercialisation anywhere in the world.
CAUTION – in the United States, ReActiv8 is limited by federal law to investigational use only.
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