SurModics Announces Resignation of Jeffrey Smith from the Board of Directors
EDEN PRAIRIE, Minn.--(BUSINESS WIRE)--Aug. 27, 2012--
SurModics, Inc. (Nasdaq:SRDX), a leading provider of surface
modification and in vitro diagnostic technologies to the healthcare
industries, today announced that effective August 27, 2012, Mr. Jeffrey
Smith has resigned from SurModics’ Board of Directors.
“Upon joining SurModics’ Board of Directors in January of 2011, my goal
was to work collaboratively with my fellow directors and the management
team to create and enhance value for all shareholders,” commented
Jeffrey Smith. “These objectives have been successfully accomplished as
demonstrated by SurModics’ strong financial results. As a result, the
Company is well-positioned to continue to drive profitable core organic
"On behalf of our management team and Board of Directors, I want to
thank Jeff for his valuable service and contributions to SurModics and
its shareholders," stated Gary Maharaj, President and CEO of SurModics,
Inc. "He has been an integral part of our recent strategic
accomplishments and has helped to put the Company on a path to
long-term, profitable growth and value creation.”
Robert C. Buhrmaster, Chairman of the Board of Directors, added “The
Board of Directors has really appreciated Jeff's constructive
involvement. He has been a valuable contributor to the Board and
provided a healthy focus on the best interests of the Company and its
shareholders in the long term. We thank him for his service and wish him
well in his future endeavors.”
Mr. Smith’s resignation brings the number of directors serving on the
SurModics board to nine. At this time, the Company does not intend to
fill the vacancy created as a result of Mr. Smith’s resignation.
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.
Source: SurModics, Inc.
Tim Arens, 952-500-7000
of Finance and Interim Chief Financial Officer