Mr. Saettele is the Assistant to the CEO of WaveLight AG, Max Reindl, and has been responsible for business development of WaveLight AG's ophthalmology division.
Mr. Saettele shares a common vision with the existing WaveLight Inc. management team, which will work closely with Mr. Saettele during this transition. In addition, Mr. Saettele is supported by Max Reindl and Mr. Alfred Neubert, executive board member of WaveLight AG.
"WaveLight's significant growth in the U.S. market since establishing its subsidiary three years ago in Virginia sets the stage for new leadership going forward," Max Reindl, CEO of WaveLight AG stated. "I have enjoyed working closely with Ralph and believe he has the skills and experience to oversee our U.S. operations."
WaveLight's 2004/2005 fiscal year was the most successful in the company's history with revenues approximated at EUR 80.7 million. According to a Market Scope Comprehensive Report published in November 2005, WaveLight sold more refractive laser systems in the U.S. and worldwide than any other manufacturer. As reported earlier, at EUR 39.6 million, revenues generated in the first six months of the current 2005/2006 fiscal year to January 31, 2006, increased by around 15 percent compared with the prior-year period (EUR 34.4 million).
WaveLight AG (ISIN DE 000 512 5603)
WaveLight AG, listed in Deutsche Borse AG's Prime Standard since January 2003, develops, produces, and markets a high-quality, end-to-end product portfolio in the fields of ophthalmology and aesthetics. WaveLight's market success is based on its innovative range of products that are the technology leaders in their areas of application and its broad-based sales network featuring both own sales channels and strategic partners. In the past fiscal year 2004/2005, WaveLight generated revenues of EUR 80.7 million and EBIT of EUR 8.8 million. Its average growth rate (CAGR) since 2000/2001 amounts to 35 percent for revenues and 63 percent for EBIT.
Further information on WaveLight is available at: www.wavelight.com.
© 2006 Business Wire
