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Cardiva Medical, Inc. Announces the Departure of its President and his Appointment as CEO of Innovative Energy, Inc.
Date:10/14/2009

MOUNTAIN VIEW, Calif. and ST. LOUIS, Oct. 14 /PRNewswire/ -- Cardiva Medical, Inc. announces today that its President, Glenn Foy, will depart the organization to assume the position of Chief Executive Officer at Innovative Energy, Inc., an alternative energy company.

Augustine Lien, Founder and CEO of Cardiva Medical stated, "I would like to thank Glenn for his contributions to Cardiva over the past six years. During his tenure as President, we have transformed Cardiva from an early stage start-up to a commercial medical device company with a world-class product development, manufacturing and sales organization and significant revenues." Mr. Lien added, "With our recent successful launch of Cardiva Catalyst(TM) III, we are well positioned to lead the large vessel closure market and I wish Glenn the best as he assumes his new role at Innovative Energy."

"We are thrilled that Glenn will be joining the executive team at Innovative Energy," said Andy Schlote, Founder, Chairman and CTO of Innovative Energy, Inc. "His broad range of experience and his leadership ability make him the ideal choice to transition Innovative Energy from a product development company to a commercial frontrunner in the renewable, clean energy space." Mr. Schlote continued, "As we prepare to deliver on our first power delivery contract, Glenn's long track record of commercial successes will be a significant asset."

"I appreciate the opportunity I've been given at Cardiva and am proud of our many accomplishments as a team," added Glenn Foy. "I am very excited about my new role at Innovative Energy. They have developed truly transformational technology that will allow municipalities to locally generate renewable, clean energy at a lower cost than purchasing electricity derived from conventional fossil fuels." Foy continued, "Limiting fossil fuels and their enormous environmental impact in electricity generation is a global initiative. Innovative En
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SOURCE Cardiva Medical, Inc.
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