OrthoAccel Technologies, Inc. Announces New Chief Financial Officer
HOUSTON, Dec. 7, 2011 /PRNewswire/ -- OrthoAccel Technologies, Inc., developers of the AcceleDent™ System, which is an acceleration device to enhance orthodontics, announced a new CFO, Andrew Layman, this week. Mr. Layman began effective December 1, and will oversee all administrative and finance functions at OrthoAccel.
AcceleDent is a simple, removable and non-invasive appliance that a patient wears with braces or aligners in the mouth for 20 minutes daily to accelerate orthodontic tooth movement. The Company announced FDA clearance last month. A randomized, controlled clinical trial conducted at the University of Texas Health Science Center at San Antonio demonstrated, with statistical significance, that tooth movement could be accelerated by 106% during the alignment phase and 38% to 50% during space closure. There was no evidence of incremental root resorption or adverse events, thus demonstrating an excellent safety profile for the appliance.
Mr. Layman joins OrthoAccel as it prepares for its US market launch, amidst growing sales outside of the US. He brings a diverse background that spans international finance, accounting, audit, and tax experience. Mr. Layman is a CPA, and previously spent eight years at a "Big Four" public accounting firm. His operating experience is broad, ranging from start-up to financial responsibility for a $3 billion division at Flextronics International, a leading electronics manufacturing services provider to the world's top technology brands.
Michael Lowe, CEO of OrthoAccel, commented, "We knew that 2012 would involve managing significant growth, and that it would be important to bring in an experienced finance executive." Product availability to US doctors is scheduled for January 2012. "We could not be more pleased with where the process led us. Andy is a perfect fit in every way. His track record for establishing risk management and internal controls will be an important part of our growth," Lowe continued.
Mr. Layman remarked, "I am very pleased to join the management team at OrthoAccel during this exciting, rapid growth time."
Last month, in addition to FDA clearance, the Company announced a major partnership with a distributor in the Italy market. Plans related to additional clinical trial activity with key university partners, both inside and outside of the US, are scheduled to be announced in the first quarter of 2012.
About OrthoAccel® Technologies, Inc.
Based in Houston, Texas, OrthoAccel® Technologies, Inc. is a privately owned medical device company currently engaged in the development, manufacturing, and marketing of products to enhance dental care and orthodontic treatment. OrthoAccel currently sells its products in ten markets world-wide and received FDA clearance in November 2011 for the AcceleDent™ System. Product availability for US doctors is scheduled for January 2012.
About the AcceleDent™ System
AcceleDent™ represents the first clinical approach to accelerate orthodontic tooth movement via modulating bone biology. The appliance has been studied clinically as a complement to conventional fixed orthodontic appliances to apply gentle pulsing forces to the dentition to move teeth faster through accelerated bone remodeling. More information can be found at www.acceledent.com and www.acceledent.co.uk or requested via email@example.com.
SOURCE OrthoAccel Technologies, Inc.
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