BILLERICA, Mass., April 01, 2022 (GLOBE NEWSWIRE) — Conformis, Inc. (NASDAQ:CFMS), announced today that Michael Fillion has joined the Company as its Chief Operating Officer.
“We are pleased to announce the addition of Michael Fillion as Chief Operating Officer. Mike brings to this role 30 years of experience in manufacturing and operations with a strong focus in precision metal products, medical devices, continuous improvement, and strategic business planning,” said Mark Augusti, President and Chief Executive officer. “I look forward to the contributions he will make as a member of the Conformis team.”
Michael Fillion
Prior to joining Conformis, Michael served as the Executive Vice President, Global Operations for Tecomet, a contract manufacturing company with a focus in medical devices. During his tenure at Tecomet, Michael’s responsibilities included overseeing 17 manufacturing locations in five countries and spearheading a Lean transformation resulting in improving on-time delivery, reducing lead-times, as well as significant productivity savings. Prior to that, Mr. Fillion held various leadership roles at The Weir Group PLC, Precision Castparts Corp., Firth Rixson LTD, and Federal Signal Corporation. Mr. Fillion received his Micro MBA Certificate from the University of Alabama, and his Bachelor of Science in Mechanical Engineering from Worcester Polytechnic Institute.
Inducement Grants Under Nasdaq Listing Rule 5635 (c) (4)
As an inducement to Mr. Fillion agreeing to employment with the Company, the Board granted to him on April 1, 2022 a restricted stock unit award of 425,000 shares of the Company’s common stock, and stock options to acquire 425,000 shares of the Company’s common stock. The restricted stock units and stock options both vest in various staggered installments over an 8-year period, as set forth in the respective award agreements, subject to service by Mr. Fillion through the applicable vesting dates.
About Conformis, Inc.
Conformis is a medical technology company focused on advancing orthopedic patient care and creating a world without joint pain. Its product portfolio is designed to maximize surgeon and patient choice by offering fully personalized solutions through its Image-to-Implant® Platinum Services℠ Program as well as data-informed, standardized solutions that combine many benefits of personalization with the convenience and flexibility of an off-the-shelf system. Conformis’ sterile, just-in-time, Surgery-in-a-Box™ delivery system is available with all of its implants and personalized, single-use instruments. Conformis owns or exclusively in-licenses issued patents and pending patent applications that cover personalized implants and patient-specific instrumentation for all major joints.
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Cautionary Statement Regarding Forward-Looking Statements
Statements in this press release about our future expectations, plans and prospects, including statements about the anticipated timing of our product launches, and our financial position and results, total revenue, product revenue, gross margin, operations and growth, as well as other statements containing the words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would” and similar expressions, constitute forward-looking statements within the meaning of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. We may not actually achieve the forecasts disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Actual financial results could differ materially from the projections disclosed in the forward-looking statements we make as a result of a variety of risks and uncertainties, including risks related to our estimates and expectations regarding our revenue, gross margin, expenses, revenue growth and other results of operations, and the other risks and uncertainties described in the “Risk Factors” sections of our public filings with the Securities and Exchange Commission. In addition, the forward-looking statements included in this press release represent our views as of the date hereof. We anticipate that subsequent events and developments may cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date hereof.
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