The medical device company Cardiovascular Systems Inc. said Monday that its president and CEO, David Martin, has been diagnosed with stomach cancer.
Cardiovascular Systems president and CEO David Martin will work through cancer treatments
David Martin will continue to lead the New Brighton company while getting treatment.
September 15, 2015 at 1:34AM
The New Brighton company said in a statement filed with the Securities and Exchange Commission and in a letter that went out to employees that Martin would continue to serve as CEO during his treatment and recovery.
"My treatment plan is in place and I have begun chemotherapy, with surgery expected later this year," Martin wrote in his letter to employees. "I plan to actively lead our business during my treatment, though some activities, such as travel, will be limited."
The company, which has 597 employees, develops minimally invasive treatment solutions for vascular and coronary disease. For the year ended June 30, the company reported revenue of $181.5 million, a 33 percent increase from the previous year.
Cardiovascular's board of directors professed their full support of the 51-year old Martin, who has been president and CEO of Cardiovascular Systems since February 2007. He will get help if needed during his treatment.
"While he will continue to serve as CEO. Dave has also developed a talented management team that we are confident can lead the company as needed during his treatment and recovery," said Cardiovascular's chairman of the board, Scott Ward, in the company's filing.
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Health care spending rose by 15%, driven by higher prices. Officials say solutions are needed to prevent Minnesotans from being priced out or delaying care they need.
