TORONTO, Oct. 15, 2014 (GLOBE NEWSWIRE) -- Profound Medical Inc., a medical device company developing and commercializing a unique, minimally invasive treatment for prostate cancer, today announced it has named Shameze Rampertab to the position of Chief Financial Officer. Prior to this appointment, Mr. Rampertab was the VP of Finance and Chief Financial Officer of Intellipharmaceutics International Inc. (Nasdaq:IPCI) (TSX:I).

"On behalf of the Board and the Executive Leadership Team we are delighted to welcome Shameze to Profound Medical," said Steven Plymale, Chief Executive Officer. "He is a seasoned financial executive with a diverse background in the healthcare sector. His experience and skills will be a valuable asset as we prepare for our next phase of growth."

Mr. Rampertab will report to Mr. Plymale and oversee Profound Medical's finance, administration, accounting, tax, and treasury functions. He will join Steve Plymale, Ron Kurtz and Goldy Singh on the Executive Leadership Team that is responsible for directing all aspects of the Company's growth strategy, planning and operations. Mr. Rampertab is expected to begin his role at Profound Medical on October 15^th, 2014.

"I am pleased to join Profound during this most exciting time in the Company's evolution," said Mr. Rampertab. "Profound is swiftly moving towards commercialization with its ground-breaking technology and I look forward to being part of its success. I am also excited to be working with this team that combines talented people and a track record of successful execution in the medical device industry."  

Profile of Financial Leadership

Mr. Rampertab has been the Chief Financial Officer of Intellipharmaceutics since 2010. Previously, he was Chairman and Director of Imaging Dynamics Company Limited. Mr. Rampertab has substantial expertise with financing, licensing and royalty deals. He was a Partner in Healthcare Investment Banking at Loewen, Ondaatje, McCutcheon Limited. He also served as Health Sciences and Biotechnology Analyst at several investment banking firms including Jennings Capital, Canaccord Capital (now Canaccord Genuity) and Sprott Securities (now Cormark Securities). Previously he served as the Director, Finance and Secretary-Treasurer for Drug Royalty (now DRI Capital).

Mr. Rampertab also is a Chartered Professional Accountant and Chartered Accountant formerly with KPMG.He holds a Master of Business Administration from McMaster University and a Bachelor of Science degree in Molecular Genetics and Molecular Biology from the University of Toronto.   

About Profound Medical

Profound Medical is a Canadian medical device company that is developing and commercializing a unique, minimally invasive treatment for prostate cancer. The Company's novel technology combines Magnetic Resonance Imaging (MRI) guidance and  ultrasound energy to deliver thermal ablative therapy to the prostate gland. Delivered via a trans-urethral approach, the technique combines the image quality of MRI with thermal ultrasound as the treatment tool. This method of prostate cancer treatment affords highly accurate and precise treatment within the prostate gland in a short time span in an outpatient setting. The company recently completed enrollment in its 30 patient multi-jurisdictional TULSA Safety/Feasibility trial.