SurModics Announces Strategic Realignment of Business

SurModics, Inc. , a leading provider of drug delivery and surface modification technologies to the healthcare industry, announced today a realignment of its business to optimize Company resources according to its strategic plan.

As part of the strategic realignment, the Company announced a reduction of approximately 9% of its total workforce. Included in the reduction, Philip D. Ankeny, Senior Vice President and Chief Financial Officer, and Jan M. Webster, Vice President, Human Resources will no longer be with the Company. In conjunction with these departures, Timothy J. Arens, currently Senior Director and General Manager, In Vitro Diagnostics, has been named Vice President of Finance and interim CFO, and Joseph J. Stich, currently Vice President, Marketing, Corporate Development and Strategy, will assume the leadership responsibilities for the In Vitro Diagnostics business. In addition, Bryan K. Phillips will assume Ms. Webster's responsibilities.

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