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Uroplasty Completes Internal Control Review; Files Form 10-K for Fiscal 2013
Date:7/23/2013

MINNEAPOLIS, July 23, 2013 /PRNewswire/ -- Uroplasty, Inc. (NASDAQ: UPI), a medical device company that develops, manufactures and markets innovative products to treat voiding dysfunctions, announced today that it has filed its Annual Report on Form 10-K for the fiscal year ended March 31, 2013.  On June 14, 2013, Uroplasty indicated that it had delayed filing the Form 10-K to complete a review of its internal control over financial reporting.  Today, Uroplasty reported that it has completed that review.  Although the Company did uncover a material weakness in internal control during the review, that weakness did not result in any changes in previously announced financial results or financial statements for prior reporting periods.  As a result of the 10-K filing, the Company believes it is now compliant with all NASDAQ listing requirements.

In addition, Uroplasty announced today that the Board of Directors has appointed Robert C. Kill, who had been acting as interim Chief Executive Officer, as President and Chief Executive Officer. "During the past three months, the Board of Directors retained an executive search firm and conducted a thorough search for the most qualified candidate to lead our company going forward," said James P. Stauner, Chairman of the Board.  "As part of our process, Rob accepted the invitation of the search committee to consider the more permanent position.  We concluded that given his previous experience as CEO of a high-growth public healthcare company, his track record of generating value for shareholders, and his knowledge of Uroplasty, Rob was the most qualified candidate for the role.  We are delighted he has agreed to lead Uroplasty as we seek to build momentum in the marketplace and increase shareholder returns."

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SOURCE Uroplasty, Inc.
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