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This article was originally published in The Gray Sheet

Executive Summary

Inamed rearranges execs: Firm appoints CFO Robert Vaters to new position of Exec VP-strategy and corporate development. Vaters duties will include developing corporate strategy, pursuing business growth opportunities and generating new sources of revenue, Inamed states in a Nov. 8 release. Senior VP and Corporate Controller Declan Daly replaces Vaters as CFO. Both men will report directly to President & CEO Nicholas Teti. One potential growth area for the company centers around its BioEnterics Lap-Band laparoscopic adjustable gastric band device. CMS' Medicare Coverage Advisory Committee recently found the Lap-Band procedure to produce a clinically important net health benefit for morbidly obese patients with co-morbidities (1"The Gray Sheet" Nov. 8, 2004, p. 10). The decision could lead to expanded coverage of the device. U.S. Lap-Band revenue helped boost Inamed's Obesity Intervention segment sales 37% to $22.2 mil. in Q3...

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