Novadaq Technologies Inc.

Novadaq Technologies Inc.

May 28, 2009 08:30 ET

William MacKinnon Elected to Novadaq Board of Directors

Former KPMG Canada CEO to Chair Audit Committee

TORONTO, ONTARIO--(Marketwire - May 28, 2009) - Novadaq® Technologies Inc. (TSX:NDQ), a developer of real-time imaging systems for use in the operating room, today announced that William A. MacKinnon, FCA, retired Chief Executive Officer of KPMG Canada, has been elected to the company's Board of Directors and will serve as the Board's audit committee chair.

MacKinnon first joined KPMG Canada in 1971, serving the company in numerous roles of increasing leadership for 27 years, including his membership on the Board of Directors of each of KPMG Canada, KMPG International and KMPG Americas. He currently serves on the board for the Canadian Institute of Chartered Accountants, the Toronto East General Hospital, C.D. Howe Institute, and the Toronto Board of Trade.

"Mr. MacKinnon's credentials, substantial experience and history of success in leading one of Canada's largest network of tax, audit and advisory firms, will provide our company intelligent guidance as we drive towards our profitability objective," commented Dr. Arun Menawat, Novadaq's President and Chief Executive Officer.

MacKinnon replaces David G. Brown, who is retiring from the Board of Directors after seven years. In response to Mr. Brown's retirement, Dr. Menawat said, "On behalf of the entire Novadaq team, I want to sincerely thank Dave Brown for his long standing commitment to Novadaq's Board of Directors and our company. I admire and respect Dave and I have greatly appreciated his counsel over the past many years. We wish Dave all the very best in the future."

About Novadaq Technologies Inc.

Novadaq develops and commercializes real-time imaging systems for use in the operating room. Novadaq's SPY® Imaging System uniquely enables surgeons to visualize blood vessels, tumors, tumor margins, blood flow and the lymphatic system in real-time during surgery. This core technology is now being applied across multiple surgical markets such as cardiac, plastic and reconstructive, urological, general, micro and transplant. The PINPOINT™ System for endoscopic autofluorescence imaging is Novadaq's first minimally invasive product. PINPOINT allows surgeons to differentiate between healthy and cancerous tissue in the lung and other hollow organs. To expand its portfolio of minimally invasive products, Novadaq is developing SPY scope which combines the typical features of a standard endoscope with the capabilities of SPY Imaging. The ability to visualize tissue perfusion and flow through vessels, ducts and the lymphatic system adds another dimension to the images available to surgeons during endoscopic surgical procedures. Novadaq also leverages its core technology to offer the OPTTX® System, which is designed for the diagnosis, evaluation and treatment of wet Age-related Macular Degeneration (AMD). Novadaq is the exclusive United States distributor of PLC Medical's CO2 HEART LASER™ System, which is used in the same cardiac procedures as the SPY Imaging System. For more information, please visit the company's website at

Forward-Looking Statements

Certain statements included in this press release may be considered forward-looking. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements, and therefore these statements should not be read as guarantees of future performance or results. All forward-looking statements are based on Novadaq's current beliefs as well as assumptions made by and information currently available to Novadaq and relate to, among other things, results of future clinical tests of PINPOINT, SPY scope and the SPY Imaging System, anticipated financial performance, business prospects, strategies, regulatory developments, market acceptance and future commitments.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Due to risks and uncertainties, including the risks and uncertainties identified by Novadaq in its public securities filings actual events may differ materially from current expectations. Novadaq disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information