FARMINGDALE, N.Y., Aug. 29, 2016 /PRNewswire/ -- Misonix, Inc. (NASDAQ: MSON), an international surgical device company that designs, manufactures and markets innovative therapeutic ultrasonic products for spine surgery, neurosurgery, wound debridement, skull based surgery, laparoscopic surgery and other surgical applications, announced that, effective September 2, 2016, Michael A. McManus, Jr. is resigning as a Director and Chairman of the Board of Directors of Misonix and retiring as the Company's President and Chief Executive Officer.
Effective September 2, 2016, Stavros G. Vizirgianakis, a member of the Misonix Board of Directors, will serve, on an unpaid basis, as Misonix's interim Chief Executive Officer. Misonix and Mr. Vizirgianakis are in negotiations for him to accept employment as Misonix's full-time Chief Executive Officer.
Mr. Vizirgianakis has served on the Misonix Board since May 2013. He holds a 5.7% ownership stake in Misonix. He has been involved with Misonix as early as September 2010 as the owner of a company acting as Misonix's South African distributor.
Mr. Vizirgianakis said, "I am honored to be asked to serve as interim Chief Executive Officer and am excited about the Company's products and future. The Misonix team will no doubt continue to put forth their best efforts to design, develop and manufacture cutting-edge technology for the medical device field."
Mr. McManus commented, "After 16 years as CEO, I retire with gratitude for the dedicated professionals who have contributed to the Company's innovation and growth, and with great confidence in the Company's future potential and the leadership ofStavros Vizirgianakis. I look forward to doing whatever I can to be helpful to him as he transitions to his new role."
Misonix, Inc. designs, develops, manufactures and markets therapeutic ultrasonic medical devices. Misonix's therapeutic ultrasonic platform is the basis for several innovative medical technologies. Addressing a combined market estimated to be in excess of $1.5 billion annually; Misonix's proprietary ultrasonic medical devices are used in spine surgery, neurosurgery, orthopedic surgery, wound debridement, cosmetic surgery, laparoscopic surgery, and other surgical and medical applications. Additional information is available on the Company's Web site at www.misonix.com.
Safe Harbor Statement
With the exception of historical information contained in this press release, content herein may contain "forward looking statements" that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Investors are cautioned that forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the statements made. These factors include general economic conditions, delays and risks associated with the performance of contracts, risks associated with international sales and currency fluctuations, uncertainties as a result of research and development, acceptable results from clinical studies, including publication of results and patient/procedure data with varying levels of statistical relevancy, risks involved in introducing and marketing new products, potential acquisitions, consumer and industry acceptance, litigation and/or court proceedings, including the timing and monetary requirements of such activities, the timing of finding strategic partners and implementing such relationships, regulatory risks including approval of pending and/or contemplated 510(k) filings, the ability to achieve and maintain profitability in the Company's business lines, and other factors discussed in the Company's Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The Company disclaims any obligation to update its forward-looking relationships.