SurModics Announces Board Changes
Robert C. Buhrmaster to step down as Board Chair at annual meeting in
Current Board member Scott R. Ward to become Chair
EDEN PRAIRIE, Minn.--(BUSINESS WIRE)--Sep. 20, 2013--
SurModics, Inc. (Nasdaq:SRDX), a leading provider of surface
modification and in vitro diagnostic technologies to the healthcare
industries, today announced the retirement of Board Chair Robert C.
Buhrmaster, 65, effective at the conclusion of the Company’s 2014 Annual
Meeting of Shareholders to be held in February 2014. At that time,
current Board member Scott R. Ward will assume the chairmanship. The
Board intends to fill the vacancy in due course.
“On behalf of SurModics, I want to thank Bob for his outstanding
leadership since 2008, when he joined our Board. He has played a
significant role in positioning the company for future growth, and we
wish him all the best,” said Gary Maharaj, president and CEO. “We also
look forward to welcoming Scott to his new role of Board Chair in
February. As we pursue our business strategy to grow SurModics’ core
businesses and expand beyond the core, Scott’s extensive medical device
and business experience will be invaluable.”
Commented Buhrmaster: “I am confident that this is the right time to
pass the baton to a new Board Chair. I believe that Scott is the right
person to guide SurModics to new levels of growth in its medical device
and in vitro diagnostics businesses. I am proud of the Company’s
accomplishments and excited to watch its future progress.”
Ward, 53, has been a Director of SurModics since 2010. He is a Managing
Director at SightLine Partners and the Founder of Raymond Holdings. Ward
has more than 30 years of experience in the healthcare industry,
including 15 years as a senior operating business leader, most recently
at Medtronic, Inc., where he served as Senior Vice President and
President of its CardioVascular business. Previously, Ward was
Medtronic’s Senior Vice President and President of the Neurological and
Diabetes businesses; Vice President and General Manager of the Medtronic
Drug Delivery Business; and Director of Medtronic NeuroVentures. Ward
serves on the boards of Creganna-Tactx Medical, Inc. (as Chairman),
Impedimed, Inc., and several other early stage private companies.
About SurModics, Inc.
SurModics’ mission is to exceed our
customers’ expectations and enhance the well-being of patients by
providing the world’s foremost, innovative surface modification
technologies and in vitro diagnostic chemical components. The Company
partners with the world’s leading and emerging medical device,
diagnostic and life science companies to develop and commercialize
innovative products designed to improve patient diagnosis and treatment.
Core offerings include surface modification coating technologies that
impart lubricity, prohealing, and biocompatibility capabilities; and
components for in vitro diagnostic test kits and microarrays. SurModics
is headquartered in Eden Prairie, Minnesota. For more information about
the Company, visit http://www.surmodics.com.
The content of SurModics’ website is not part of this press release or
part of any filings that the Company makes with the SEC.
Safe Harbor for Forward-Looking Statements
release contains forward-looking statements. Statements that are not
historical or current facts, including statements about beliefs and
expectations, are forward-looking statements. Forward-looking statements
involve inherent risks and uncertainties, and important factors could
cause actual results to differ materially from those anticipated,
including those identified under "Risk Factors" in Part I, Item 1A of
our Annual Report on Form 10-K for the fiscal year ended September 30,
2012, and updated in our subsequent reports filed with the SEC. These
reports are available in the Investors section of our website at www.surmodics.com
and at the SEC website at www.sec.gov.
Forward-looking statements speak only as of the date they are made, and
we undertake no obligation to update them in light of new information or
Source: SurModics, Inc.
Andy LaFrence, 952-500-7000
President of Finance and Chief Financial Officer