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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES AND EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): April 10, 2000
NMT Medical, Inc.
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(Exact name of registrant as specified in charter)
Delaware 000-21001 95-4090463
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(State or other juris- (Commission (IRS Employer
diction of incorporation) File Number) Identification No.)
27 Wormwood Street, Boston, Massachusetts 02210
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (617) 737-0930
N/A
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(Former name or former address, if changed since last report)
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Item 5. Other Events.
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On April 10, 2000, NMT Medical, Inc. (the "Company") issued a press release
announcing the resignation, effective immediately, of Thomas M. Tully as Chief
Executive Officer of the Company to pursue other business opportunities.
Accordingly, Mr. Tully has also resigned as President and as a member of the
Board of Directors of the Company. The full text of the Company's press release
is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated
herein by reference.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
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(c) Exhibits
Exhibit No. Description
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99.1 Press Release, dated April 10, 2000, announcing the resignation of
Thomas M. Tully as Chief Executive Officer of NMT Medical, Inc.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: April 12, 2000 NMT Medical, Inc.
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(Registrant)
By: /s/ William J. Knight
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Name: William J. Knight
Title: Vice President-Finance and Administration,
Chief Financial Officer
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EXHIBIT INDEX
Exhibit No. Description
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99.1 Press Release, dated April 10, 2000, announcing the resignation of
Thomas M. Tully as Chief Executive Officer of NMT Medical, Inc.
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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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Bill Knight, CFO General Info: Paula Schwartz
(617) 737-0930 Analyst Info: Brian Gill
Media Info: Deanne Eagle
(212) 661-8030
FOR IMMEDIATE RELEASE
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April 10, 2000
NMT MEDICAL NAMES C. LEONARD GORDON ACTING CHIEF EXECUTIVE OFFICER
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BOSTON, MA, APRIL 10, 2000--NMT Medical, Inc. (Nasdaq/NMS:NMTI) today announced
the resignation of Thomas M. Tully as Chief Executive Officer of NMT Medical, to
pursue other business opportunities. C. Leonard Gordon, a co-founder, Board
Member and former President and Chief Executive Officer of NMT Medical, has been
named Acting President and Chief Executive Officer. Mr. Tully will continue to
assist the Company during the transition period. Carl A. Schaad of Heidrick &
Struggles in Boston has been retained to conduct the search for a new Chief
Executive Officer.
Commenting on the announcement Mr. Gordon said, "We hope to complete the CEO
search in the next few months. Until then, I intend to put particular emphasis
on the sales and marketing of cardiovascular products. The closing last week of
the sale of certain product lines in the Neurosciences division was an important
step in the refocusing of the Company. Our focus is on high margin medical
implantable products, disposables, reducing overall expenses, and on preserving
the Company's innovative R&D culture."
Dr. Jeffrey R. Jay, Chairman of NMT Medical said "We thank Tom for his efforts
on behalf of the Company and wish him well." Commenting on the Company's
progress, he noted "Growth in sales of CardioSeal(R) and the Simon Nitinol
vena cava filters have driven cardiovascular revenue in Q1 2000 approximately
50% higher than Q1 1999. Record high unit sales of CardioSeal and Simon Nitinol
Filters were achieved in Q1."
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NMT MEDICAL ANNOUNCES RESIGNATION OF CEO
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NMT Medical designs, develops and markets innovative medical devices that
utilize advanced design and materials and are delivered by minimally invasive
procedures. The Company's products offer alternative approaches to existing more
invasive 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 need of
neurosurgeons with a focused set of 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, 1998.
To receive NMT Medical's latest news release and other corporate documents via
FAX--at no cost--please dial 1-800-PRO-INFO.
