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Exhibit 99.1
NMT MEDICAL, INC.
27 Wormwood Street
BOSTON, MA 02210-1625
(NASDAQ/NMS:NMTI)
AT THE COMPANY AT THE FINANCIAL RELATIONS BOARD
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William J. Knight General Info: Stuart Levine
Chief Financial Officer Analyst Info: Brian Gill
(617) 737-0930 Media Info: Deanne Eagle
(212) 661-8030
NMT MEDICAL STREAMLINES
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ITS INTERIM MANAGEMENT TEAM
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BOSTON, MA, JULY 18, 2000 -- NMT Medical (Nasdaq/NMS:NMTI) today announced its
decision to restructure the interim management team, allowing day-to-day
operating responsibilities to be more focused into the Office of the President.
To this end, Jeffrey R. Jay, M.D., Chairman of the NMT Board, and John Fletcher,
an NMT Director, have decided to conclude their temporary assignments as Acting
co-CEOs while retaining their roles on the Company's Board of Directors. In
turn, Mr. William J. Knight, Vice President of Finance and CFO of NMT, and Mr.
Rudy Davis, Vice President of Sales and Marketing, will continue to share
responsibilities as Acting co-Presidents, positions they have held since May of
this year.
NMT Medical designs, develops and markets innovative medical devices that
utilize advanced technologies and are delivered by minimally invasive
procedures. The Company's products are designed to offer alternative approaches
to existing complex treatments, thereby reducing patient trauma, shortening
procedure, hospitalization and recovery times, and lowering overall treatment
costs. The Company's medical devices include self-expanding stents, vena cava
filters and septal repair devices. The NMT Neurosciences division serves the
needs of neurosurgeons with a range of implantable and disposable products,
including cerebral spinal fluid shunts, external drainage products, and the
Spetzler(TM) Titanium Aneurysm Clip.
This press release contains "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. Such forward-looking
statements involve known and unknown risks, uncertainties or other factors which
may cause actual results, performance or achievements of the Company to be
materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Factors that might
cause such a difference include, but are not limited to, those discussed under
the heading "Certain Factors That May Affect Future Results" included in the
Management's Discussion and Analysis of Financial Conditions and Results of
Operations in the Company's Annual Report on Form 10-K for the year ended
December 31, 1999 and subsequent filings with the Securities and Exchange
Commission.
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FAX -- at no cost -- please dial 1-800-PRO-INFO. Enter the Company's symbol
NMTI.
