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Enteromedics Announces Dan Gladney Appointed President And Chief Executive Officer

The following excerpt is from the company's SEC filing.

ST. PAUL, Minnesota, November 2, 2015

EnteroMedics Inc. (NASDAQ: ETRM), the developer of medical devices using neuroblocking technology to treat obesity, metabolic diseases and other gastrointestinal disorders, today announced that Dan Gladney has been appointed President and Chief Executive Officer of the Company, effective November 16, 2015. He has also been elected to the Companys Board of Directors. Mr. Gladney brings over 25 years of experience in the medical device industry to EnteroMedics, having founded, led and sold several companies in his career. Dr. Mark Knudson, President, CEO and Chairman of EnteroMedics, will remain with the Company as Executive Chairman through year-end, becoming non-executive Chairman of the EnteroMedics Board of Directors beginning January 1, 2016.

It is with great pleasure that the Board and EnteroMedics welcome as experienced a leader and innovator as Dan Gladney as our new Chief Executive Officer, Said Dr. Knudson. Dan has a track record of rapidly understanding and harnessing the potential of emerging medical technologies. With growing momentum behind the controlled launch of vBloc Neurometabolic Therapy in the U.S., we look forward to his contributions as EnteroMedics advances through its next stage of growth and development.

In vBloc, EnteroMedics has developed what is among the most innovative new technologies for the long-term treatment and management of obesity, said Mr. Gladney. The unmet need for the treatment of this disease cannot be overstated, and it is my goal to see vBloc play an important role in bridging the gap between existing therapies. I also look forward to working with the talented and dedicated team at EnteroMedics.

Mr. Gladney was most recently a Director and Chief Executive Officer of Lanx, Inc., a medical device company focused on developing and commercializing innovative devices for spinal surgery, which was acquired by Biomet, Inc. in 2013. Prior to Lanx, Mr. Gladney was Healthcare Operating Partner at Norwest Equity Partners (NEP) where he was responsible for strategic planning, business growth and corporate governance for NEP portfolio companies and evaluating and executing new...