Conformis, Inc. Appoints James Paiva as its new Vice President of U.S. Marketing; Inducement Grant Reported

BILLERICA, Mass., Nov. 08, 2021 (GLOBE NEWSWIRE) -- Conformis, Inc. (NASDAQ:CFMS) announced today that the Company has appointed James Paiva as its new Vice President, U.S. Marketing.

"Conformis is pleased to welcome James Paiva as the new V.P. of U.S. Marketing. As we continue to advance our growth strategy, we are confident that James' extensive background in new product introductions and multi-channel marketing will help to strengthen Conformis brand recognition and position us to capitalize on anticipated growth in the ambulatory surgery center space," said Mark Augusti, President and Chief Executive Officer.  "I look forward to the contributions James will make as a member of Conformis' team."

James Paiva

Prior to joining Conformis, James spent the last 16 years with Johnson & Johnson, working in a variety of roles of increasing responsibility in marketing, education, sales support, and business development.  Most recently, he was the Senior Director of Marketing for DePuy Synthes, where he managed the core portfolio and pipeline for that company's global spine business.  James was responsible for business planning, marketing strategies, portfolio management, market research, new product launches, business performance analytics, and multi-channel marketing. 

Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

In connection with the hiring of James Paiva, Conformis' Board of Directors granted to Mr. Paiva a restricted stock unit award of 150,000 shares of Conformis' common stock.  The restricted stock unit award is expected to be granted on November 8, 2021 as an inducement material to Mr. Paiva's acceptance of employment with Conformis in accordance with Nasdaq Listing Rule 5635(c)(4).  The restricted stock unit award vests over four years, with 25% of the total number of shares underlying the award vesting on each one-year anniversary of the grant date, subject to Mr. Paiva's continued service as an employee of Conformis through the applicable vesting dates.

About Conformis, Inc.

Conformis is a medical technology company that uses its proprietary iFit^® Image-to-Implant^® technology platform to develop, manufacture, and sell joint replacement implants and instruments that are individually sized and shaped, which we refer to as personalized, individualized, or sometimes as customized, to fit each patient's unique anatomy.  Conformis also offers Identity Imprint™, a new line of total knee replacement products that utilizes a proprietary algorithm to select the implant size that most closely meets the geometric and anatomic requirements of the patient's knee. Conformis' sterile, just-in-time, Surgery-in-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.

For more information, visit www.conformis.com. To receive future releases in e-mail alerts, sign up at ir.conformis.com. 

Cautionary Statement Regarding Forward-Looking Statements

Statements in this press release about our future expectations, plans and prospects, 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" or the negative of these terms or other and similar expressions are intended to identify forward-looking statements within the meaning of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995, although not all forward-looking statements contain these identifying words. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make as a result of a variety of risks and uncertainties; 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 U.S. 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.

CONTACT:

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Source: Conformis, Inc.