Surmodics Announces Appointment of Timothy J. Arens as Chief Financial Officer
Surmodics, Inc. (NASDAQ: SRDX), a leading provider of medical device and in vitro diagnostic technologies to the healthcare
industry, today announced the appointment of Timothy J. Arens, Vice President of Corporate Development and Strategy, as the
company’s new Chief Financial Officer (CFO), effective immediately.
Arens was named interim CFO in May 2018 following the departure of Andrew LaFrence. Arens’ corporate development and strategy
responsibilities will be absorbed into his CFO role.
“Tim has been an impressive partner to me and an invaluable contributor to our management team and Surmodics’ success during the
past eight years. I am personally delighted that he has been formally appointed to the role,” said Gary Maharaj, President and
Chief Executive Officer of Surmodics. “Tim's excellent financial, operational and strategic skills and strong leadership are
ideally suited to his new role as we continue to drive our strategic initiatives and financial goals of consistent and profitable
long-term growth."
Arens has served in his current role since February 2013. He joined Surmodics in February 2007 as Director, Business
Development, was named Senior Director and General Manager of the in vitro diagnostics business unit in October 2010 and served as
Vice President of Finance and interim CFO from August 2011 to February 2013.
“I am excited to work with a group of dedicated and talented colleagues to accelerate our strategic transformation while
continuing to deliver on our operating commitments,” said Arens. “Surmodics is well-positioned to execute on our strategic
initiatives including the development of highly innovative products that benefit patients. I am looking forward to being part of
that journey.”
About Surmodics, Inc.
Surmodics is the global leader in surface modification technologies for intravascular medical devices and a leading
provider of chemical components for in vitro diagnostic immunoassay tests and microarrays. Surmodics is pursuing highly
differentiated whole-product solutions that are designed to address unmet clinical needs for its medical device customers and
engineered to the most demanding requirements. This key growth strategy leverages the combination of the Company’s expertise in
proprietary surface technologies, along with enhanced device design, development and manufacturing capabilities. The Company
mission remains to improve the detection and treatment of disease. Surmodics is headquartered in Eden Prairie, Minnesota. For more
information, visit
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
This press release contains forward-looking statements. Statements that are not historical or current facts 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 the factors identified under “Risk Factors” in Part I, Item 1A of our Annual
Report on Form 10-K for the fiscal year ended September 30, 2018, 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 future events.
Surmodics, Inc.
Tim Arens, 952-500-7000
ir@surmodics.com
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