Richland, WA – March 2, 2016 – IsoRay Inc. (NYSE MKT:ISR), a medical technology company and innovator in seed brachytherapy and medical radioisotope applications for the treatment of prostate, brain, lung, head and neck and gynecological cancers, today announced the appointment of Michael L. Krachon as Vice President of Sales and Marketing and Lori A. Woods as Senior Marketing Consultant.
Michael L. Krachon brings more than 20 years’ experience of progressive growth in sales and marketing in the medical industry. Mr. Krachon was previously employed by C.R. Bard Inc., since 2001, and was a key member of the Bard Urological Division which developed brachytherapy devices and delivery systems for the U.S. and international markets. He was the leader of the brachytherapy commercial team, which grew to be the global brachytherapy market leader.
Mr. Krachon assisted in the business unit’s strategic planning, development of the international business segment and creating and delivering the international product launches which resulted in market leadership across Europe, Japan and Africa. His responsibilities included: the development of strategic brachytherapy sales and marketing programs; the implementation of an industry leading national and international training programs; and supporting the product development process.
Finally, Mr. Krachon has been instrumental in successfully supporting the industry through congressional lobbying efforts to re-establish reimbursement codes for brachytherapy. He has served as Chairman of the Coalition for Advancement of Brachytherapy from 2009 to present and has been recognized as a national speaker for brachytherapy by the industry. Mr. Krachon received a B.S.E. in biomedical engineering from Duke University and his M.B.A. from the Goizueta Business School at Emory University.
Lori A. Woods brings more than 20 years’ experience and executive responsibility for all business operations in the oncology medical device and services industry. Most recently, Ms. Woods has served as Principal of Medvio LLC, a privately held company which she founded in 2010, with headquarters in Seattle, Washington and Moscow, Russia. Medvio is a medical process organization that specializes in consulting, development and distribution of urology and oncology related technologies for domestic and international markets.
Ms. Woods previously was employed by IsoRay, joining the Company as Vice President in 2006. She was promoted to Chief Operating Officer and helped to re-organize the Company. Reporting directly to the Board and CEO, she was responsible for all aspects of operations for the business. During her tenure she negotiated all national and international supply contracts, implemented numerous operating efficiencies and oversaw the Company’s IR and public relations activities until her departure in 2010.
From 2002 to 2006, Ms. Woods was the Chief Executive Officer of Pro-Qura Inc., of Seattle. In this capacity she ran a privately owned treatment management company that marketed cancer treatment planning services and trained physicians and clinical staff on individualized patient treatment planning for prostate brachytherapy cancer treatment. Ms. Woods received her Bachelor of Science in Business Administration from Loma Linda University.
Tom LaVoy, CEO and Chairman of the Board of IsoRay stated, “The entire team at IsoRay is excited that Michael Krachon and Lori Woods have accepted senior sales and marketing positions at the Company. Michael’s impressive accomplishments and stature as an international sales leader in brachytherapy will, we believe, bring IsoRay to the broadest audience and its rightful place in cancer therapies. Lori’s return to IsoRay is welcomed by all. Together, we believe, we have created an unbeatable team of industry veterans, who will help us to re-energize our sales and marketing organization from top to bottom. We welcome Michael and Lori to IsoRay and look forward to their contributions.”
About IsoRay, Inc
IsoRay, Inc., through its subsidiary, IsoRay Medical, Inc. is the sole producer of Cesium-131 brachytherapy seeds, which are expanding brachytherapy options throughout the body. Learn more about this innovative Richland, Washington company and explore the many benefits and uses of GliaSite® and Cesium-131 by visiting www.isoray.com. Join us on Facebook/Isoray. Follow us on Twitter @Isoray.
Safe Harbor Statement
Statements in this news release about IsoRay’s future expectations, including: the advantages of our products and their delivery systems, whether interest in and use of our products will increase or continue, whether awareness and adoption of our products in the medical community will continue or increase, whether peer-reviewed publications of treatment results using our products will report favorable results, whether S + Cs-131 will demonstrate cost-effectiveness in the treatment of brain metastases, and all other statements in this release, other than historical facts, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (“PSLRA”). This statement is included for the express purpose of availing IsoRay, Inc. of the protections of the safe harbor provisions of the PSLRA. It is important to note that actual results and ultimate corporate actions could differ materially from those in such forward-looking statements based on such factors as physician acceptance, training and use of our products, our ability to successfully manufacture, market and sell our products, our ability to manufacture our products in sufficient quantities to meet demand within required delivery time periods while meeting our quality control standards, our ability to enforce our intellectual property rights, whether additional studies are released and support the conclusions of past studies, whether ongoing patient results with our products are favorable and in line with the conclusions of clinical studies and initial patient results, patient results achieved when our products are used for the treatment of cancers and malignant diseases, successful completion of future research and development activities, whether we, our distributors and our customers will successfully obtain and maintain all required regulatory approvals and licenses to market, sell and use our products in its various forms, continued compliance with ISO standards as audited by BSI, the success of our sales and marketing efforts, changes in reimbursement rates, changes in laws and regulations applicable to our products, and other risks detailed from time to time in IsoRay’s reports filed with the SEC. Unless required to do so by law, the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Stephanie Prince, Managing Director
Sean Leous, Managing Director