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IDEV Technologies Names Veteran Medical Device Executive Rick Anderson Chairman of the Board of Directors

HOUSTON, July 9 /PRNewswire/ -- IDEV Technologies, Incorporated, (IDEV) an emerging leader in the development and marketing of minimally invasive medical technologies, today announced the appointment of veteran medical device executive Rick Anderson to Chairman of its Board of Directors. Thomas M. Tully, the former Chairman and CEO, has retired.

Mr. Tully spent nearly four years as CEO and established a strong, highly differentiated technology platform. Mr. Tully also led the company's effort in launching the FDA-approved SUPERB (Comparison of the SUPERA PERipheral System to a Performance Goal Derived from Balloon Angioplasty Clinical Trials in the Superficial Femoral Artery) IDE study. IDEV's SUPERA stent is a novel platform designed for the treatment of biliary and peripheral artery disease in the superficial femoral artery.

"Tom was instrumental in building the foundation of what is a very fast-growing and prosperous business at IDEV," said President and Chief Operating Officer Christopher M. Owens, who will oversee the day-to-day operations of IDEV. "On behalf of the entire Board and everyone at IDEV, we'd like to thank Tom for his leadership, his years of service and other numerous contributions to the Company."

Mr. Anderson is Managing Director of Austin, TX-based PTV Sciences, a healthcare venture capital and growth equity firm. Prior to PTV Sciences, Mr. Anderson served as Company Group Chairman, Johnson & Johnson, and Worldwide Franchise Chairman, Cordis Corporation.

"We are delighted to have Rick join the company and believe his operating experience and strategic insight will be important additions to our organization," Owens said. "In particular, his expertise in the global stent business will add tremendous value as we continue to expand our product portfolio and enroll new patients in our multi-center clinical SUPERB IDE trial."

Mr. Anderson commented: "I am impressed by the potential of IDEV and its SUPERA stent, which is designed to address the unmet needs of millions of patients who suffer from biliary and peripheral vascular disease. This is a strong company with tremendous growth prospects, and I look forward to working with the management team and Board of Directors at IDEV."

About IDEV Technologies, Incorporated

IDEV Technologies, Incorporated (IDEV) is an innovator and developer of next generation medical devices for use in the interventional radiology, vascular surgery and cardiology device marketplace. IDEV is based in Houston, Texas.

    Contact:  Christopher M. Owens, President and COO
              John Dame, Vice President of Finance
              IDEV Technologies Inc.
              (281) 333-1998

SOURCE IDEV Technologies, Incorporated
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