SurModics Announces Device Veteran Shawn McCormick Joins Board of Directors
EDEN PRAIRIE, Minn.--(BUSINESS WIRE)--Dec. 22, 2015--
SurModics, Inc. (Nasdaq: SRDX), a leading provider of medical device and
in vitro diagnostic technologies, today announced the addition of a new
independent board member, Shawn McCormick, a highly experienced medical
device executive. McCormick’s appointment became effective on December
18, 2015. As reconstituted, the board now consists of seven members, six
of whom are independent.
“We are pleased to welcome Shawn McCormick, a proven leader in the
medical technology space, to our board,” said Susan Knight, SurModics
board chair. “Shawn brings more than two decades of experience in
operations and finance for a range of medical technology companies. His
knowledge will be invaluable to SurModics as we continue to drive
revenue gains in our core businesses, while evolving into a complete
solutions provider through programs such as the SurVeil drug-coated
McCormick, 51, was most recently chief financial officer of Tornier
N.V., a global medical device company serving surgeons who treat
extremities, joints and soft tissue, from 2012 until October 2015, when
the company merged with Wright Medical. From 2011 to 2012, McCormick was
chief operating officer at Lutonix, the first company to receive an
investigational device exemption approval from the FDA for a drug-coated
balloon. Prior to that, he was chief financial officer at ev3, Inc., an
endovascular company, from 2009 to 2010. From 1992 to 2009, he worked at
Medtronic Inc., holding various financial roles, the last being vice
president of corporate development. McCormick currently sits on the
boards of two publicly traded healthcare companies: Nevro Corp. and
Entellus Medical. He will serve on the audit committee and the corporate
governance and nominating committee at SurModics.
SurModics also announced that John W. Benson, a current board member, is
retiring from the board and will not stand for re-election at the annual
meeting in February. Benson is the chair of the organization and
compensation committee and a member of the corporate governance and
“I want to thank John for more than 12 years of service to SurModics. He
brought a pragmatic perspective— along with an unwavering focus on
shareholder value—that helped guide SurModics to the strong,
well-positioned company it is today, and we wish him well,” said Knight.
About SurModics, Inc.
SurModics partners with the world's
leading and emerging medical device, diagnostic and life sciences
companies to develop and commercialize innovative products designed to
improve lives by enabling the detection and treatment of disease.
SurModics’ mission is to be a trusted partner to our customers by
providing the most advanced surface modification technologies and in
vitro diagnostic chemical components that help enhance the well-being of
patients. The company’s core offerings include surface modification
coating technologies that impart lubricity, prohealing and
biocompatibility characteristics and components for in vitro diagnostic
test kits and microarrays. SurModics’ strategy is to build on the
product and technical leadership within these fields, and expand the
core offerings to generate opportunities for longer term sustained
growth. SurModics is headquartered in Eden Prairie, Minnesota. For more
information about the company, visit www.surmodics.com.
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Source: SurModics, Inc.
Andy LaFrence, 952-500-7000
Vice President of
Finance and Chief Financial Officer