NEWS RELEASE for January 6, 2004
Contact: Allen & Caron Inc CLOSURE Medical Corp
Joe Allen (investors) Len Hall (media) Benny Ward, CFO
(212) 691-8087 (949) 474-4300 (919) 876-7800
CLOSURE MEDICAL APPOINTS THREE NEW VICE PRESIDENTS
RALEIGH, NC (January 6, 2004) … CLOSURE Medical Corporation (Nasdaq:CLSR), a global leader in biomaterial-based medical devices, announced today the appointment of three new vice presidents effective immediately.
CLOSURE President and CEO, Daniel A. Pelak, commented, “During 2003, CLOSURE made significant progress growing its revenue and profitability while at the same time broadening its product offerings. Simultaneously, we have been executing a strategic plan that requires the continued development of multiple products and expansion into new markets, which is a major departure from the single product orientation in CLOSURE’s past. As a part of this plan, we have expanded our management team and realigned our organization with a view towards achieving our strategic objectives.”
A six-year veteran at CLOSURE, J. Michael Hoban, 52, was appointed to the new position of Vice President of Human Resources. Prior to his appointment, Mr. Hoban served as CLOSURE’s Director of Human Resources. Before joining the Company, Mr. Hoban spent twenty years with Bristol-Myers Squibb Inc. serving in a variety of human resource roles; his last position there was Vice President of Human Resources for the Zimmer Surgical Products Division. He holds a B.A. in Labor and Industrial Relations from Michigan State University.
Bruce J. Krattenmaker, 51, has been appointed as Vice President of Regulatory, Clinical and Quality Assurance. Mr. Krattenmaker has over twenty years of experience within the quality assurance and regulatory field. Most recently, Mr. Krattenmaker served as Vice President of Regulatory Affairs, Quality Assurance and Clinical Programs at Ev3 Inc., based in Plymouth, Minnesota, where he was responsible for developing and executing regulatory strategies on a global basis. He also held various executive positions at Boston Scientific Corporation, C.R. Bard, Inc. and Baxter Healthcare Corporation. Mr. Krattenmaker has a B.S. in Biology and an M.S. in Microbiology and Biochemistry, each from Northern Illinois University.
Gabe N. Szabo, 40, has been appointed to Vice President of New Product Development. Previously, Mr. Szabo was Director of Marketing for CLOSURE’s consumer care products. Prior to joining the Company in 1999, Mr. Szabo worked for both Johnson & Johnson and General Electric Company in various management, product development, and engineering roles. Mr. Szabo holds a B.S. in Mechanical Engineering from Northeastern University and an M.B.A. from Duke University’s Fuqua School of Business.
Mr. Pelak said, “We are very pleased to expand the executive management team with top-tier, experienced individuals during this time in our Company’s evolution. I believe the leadership team we have assembled at CLOSURE is well-suited to lead this organization to the next level and I am truly privileged to be working with each of them.”
About CLOSURE Medical Corporation
CLOSURE Medical Corporation is a global leader in the development and manufacture of innovative biomaterial-based medical devices that fulfill the needs of healthcare practitioners, patients and consumers.
For additional information on CLOSURE Medical visit its website at www.closuremed.com or visit the "Clients" section of the Allen & Caron website at www.allencaron.com.
This release contains certain forward-looking statements which involve known and unknown risks, delays, uncertainties or other factors not under the Company's control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance, or other expectations implied by these forward-looking statements. These factors include, but are not limited to the early stage of commercialization of the Company’s products; the progress of its research and development programs for future products; the need for regulatory approval and effects of governmental regulation; technological uncertainties; the satisfactory conclusion of negotiations with, and dependence on marketing partners, and dependence on patents and trade secrets, as well as those detailed in the Company's Annual Report on Form 10-K for the year ended December 31, 2002, filed with the Securities and Exchange Commission. Although the Company believes that the expectations in the forward-looking statements are reasonable, the Company cannot guarantee such results. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.