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Hologic Names Robert A. Cascella President and Chief Operating Officer BEDFORD, Mass. (October 6, 2003) - Hologic, Inc., (NASDAQ: HOLX) today announced that Robert A. Cascella has been named Hologic's President and Chief Operating Officer. The appointment is effective immediately. Mr. Cascella joined Hologic in February 2003 as Chief Operating Officer reporting directly to Jack W. Cumming, Hologic's Chairman and Chief Executive Officer. As President and Chief Operating Officer, Mr. Cascella will be responsible for providing leadership, direction, support and assistance to Hologic's business units to better optimize operational effectiveness. The Company's Corporate Governance Committee strongly endorsed the appointment of Mr. Cascella as President and Chief Operating Officer to oversee the day-to-day operations for Hologic," said Jack W. Cumming, Chairman and Chief Executive Officer. "In the past months Rob has clearly demonstrated that his skills are well matched to Hologic's needs. He has considerable knowledge and understanding of our market niches, technologies and the dynamics of the medical device market, all of which has provided additional insight and focus to the Company. He is a valuable asset with a wealth of experience in operations, finance and strategic planning. We are confident Rob will continue to provide the right leadership and make a substantial contribution to our continued growth and development in the years ahead." Mr. Cascella's has over 20 years of senior management, operational and finance experience with companies ranging from early-stage, entrepreneurial business to Fortune 500 companies. Mr. Cascella joined Hologic from CFG Capital, LLC (formerly Carolina Financial Securities), of Southport, Connecticut, an investment banking firm specializing in healthcare, where he was a managing partner. Prior to joining CFG, he was Chief Operating Officer and Vice President of Finance for NeoVision Corporation, an early-stage medical technology company located in Seattle, WA, that developed an innovative 3D ultrasound technology used for real-time guidance of interventional breast procedures. In addition to his position responsibilities, Mr. Cascella played a principal role in the sale of NeoVision to US Surgical Corporation in 1998 and assisted that company in transitioning its newly acquired business. From years 1987 to 1994 Mr. Cascella held the positions of President, Chief Operating Officer and Chief Financial Officer for Fischer Imaging Corporation, a medical device manufacturer specializing in breast imaging and interventions. During his tenure at Fischer Imaging, the Company grew revenues to $75 million, negotiated and managed $30 million in strategic alliances and successfully completed its initial public offering. Prior to Fischer Imaging, Mr. Cascella was the Director of Accounting and Financial Planning for Perkin-Elmer Corporation, a $1 billion manufacturer of analytical and scientific instruments and equipment. "I am honored to be the Board's choice as President and Chief Operating Officer," said Cascella. "I believe that with our strong and experienced team at Hologic coupled with our advanced technology we are well positioned to meet the challenges of addressing the growing diagnostic needs of physicians and their patients, while creating lasting partnerships with healthcare institutions. I look forward to addressing these challenges." About Hologic
Hologic, Inc. is a leading developer, manufacturer and supplier of medical imaging systems dedicated to serving the healthcare needs of women, and a leading developer of state-of-the-art digital imaging technology for general radiography and mammography applications. Hologic's core business units are focused on osteoporosis assessment, mammography and breast biopsy, direct-to-digital x-ray for general radiography applications and mini C-arm imaging for orthopedic applications. Forward Looking Disclaimer
This News Release contains forward-looking information that involves risks and uncertainties, including statements about Hologic's plans, objectives, expectations and intentions. Such statements include, without limitation, the expected contributions by Mr. Cascella to the Company's growth and development, and the Company's position to meet the challenges of its developing markets. These forward-looking statements are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those anticipated. The Company cannot assure that Mr. Cascella will be successful in his new position or that the Company will continue to grow or meet the challenges of its developing markets. Factors that could cause actual results to materially differ include, without limitation, uncertainties inherent in management changes and the ability of the Company to accurately assess the skills and capabilities of Mr. Cascella during his limited employment with the Company or otherwise; uncertainties inherent in the development of new products and the enhancement of existing products, including technical and regulatory risks, cost overruns and delays; the risk that newly introduced products may contain undetected errors or defects or otherwise not perform as anticipated; the Company's ability to predict accurately the demand for its products and to develop strategies to address its markets successfully; the early stage of market development for digital x-ray products; manufacturing risks that may limit the Company's ability to ramp-up commercial production of the Selenia, including the Company's reliance on a single source of supply for some key components of its products as well as the need to comply with especially high standards for those components and in the manufacture of digital x-ray products in general; risks relating to compliance with financial covenants under the Company's working capital financing and leases; technical innovations that could render products marketed or under development by the Company obsolete; competition; and reimbursement policies for the use of the Company's products. Other factors that could adversely affect the Company's business and prospects are described in the Company's filings with the Securities and Exchange Commission. Hologic expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in Hologic's expectations or any change in events, conditions or circumstances on which any such statement is based.
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