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Uroplasty CEO resigns

This article was originally published in Clinica

Executive Summary

David Kaysen has resigned as president and CEO of Uroplasty, a firm specializing in the treatment of urinary incontinence and other pelvic disorders, after seven years at the helm. The company has appointed independent director and former Baxter International veteran Robert Kill interim CEO while its board searches for a permanent replacement. It is unclear why Mr Kaysen decided to leave the Minnetonka, Minnesota company, but it might be down to a mixed performance in fiscal year 2013. Uroplasty is expecting to report fourth-quarter and full-year revenues of $5.5 million (down 2% year-on-year) and $22.4 million (up 9% year-on-year), respectively. However, sales of its flagship Urgent PC device seem healthy; they are expected to be $2.6 million in Q4 (+13%) and $10.5 million for the full fiscal year (+35%). Full results will be available in late May.

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