Urologix Inc. (Nasdaq: ULGX) has hired a new chief financial officer who previously worked as a controller for device firm Angeion Corp.
Brian Smrdel takes over the CFO role from Rebecca Weber, who will stay on as Urologix’s director of finance, according to a statement from the Minneapolis-based company.
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“In addition to his accounting experience in a public medical technology company, Brian brings to Urologix a strong background in financial analysis, planning and strategy,” CEO Stryker Warren Jr. said.
Urologix develops devices that treat benign prostatic hyperplasia, or enlarged prostate. The company’s Targis System delivers microwave energy that heats and destroys enlarged prostate tissue and features a cooling mechanism that protects healthy tissue, according to the company.
The company recently reported financial information for its 2010 third quarter, which Warren described as “challenging.” Revenue grew 8 percent to $3.6 million, while Urologix’s net loss narrowed to $597,000. Warren said the company’s financial results were hurt by “physicians’ concern around the future of Medicare Payment rates.”