Urologix Inc. (NSDQ:ULGX) hired an Angeion Corp. (NSDQ:ANGN) veteran as its new CFO.
Brian Smrdel takes over from Rebecca Weber, who will stay on as Urologix’s director of finance, according to a statement from the Minneapolis-based company.
Urologix develops devices to 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.
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.”