Symmetry Medical Expands Board of Directors
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WARSAW, Ind., January 8, 2008 - Symmetry Medical Inc. (NYSE: SMA), an independent provider of products to the global orthopedic device industry and other medical markets, announced today that the board of directors has voted to expand the size of the Company's board from five to seven. It has appointed two new independent
directors, John S. Krelle and Craig B. Reynolds to fill the positions, bringing the total of independent directors to six.
Mr. Krelle is President, Chief Executive Officer and a member of the board of directors of FzioMed, Inc., a privately held medical biomaterials company based in San Luis Obispo, California.
FzioMed's technology is being used in spine/orthopedic surgery, general surgery and aesthetic surgery. Prior to FzioMed, Mr. Krelle spent nearly twenty years in a variety of senior international positions at Zimmer Holdings, Inc., including President of Asian based operations in Japan. Mr. Krelle was educated in the United Kingdom and holds a degree in mechanical engineering and a Masters of Business Administration.
Mr. Reynolds is Chief Operating Officer and a member of the board of directors of Respironics, Inc., a publicly held company that develops, manufactures and markets medical devices worldwide. Its product lines include sleep medicine therapeutics and diagnostic equipment, intensive care ventilation and patient monitoring and respiratory drug delivery systems. From 1981 to 1998, Mr. Reynolds was at Healthdyne Inc., a medical device company, serving for five years as Chief Executive Officer and board member. Mr. Reynolds holds a degree in industrial management and a Masters of Business Administration.
Frank Turner, Chairman of the Symmetry board, said, "We are pleased to welcome John and Craig to the Symmetry board. These two individuals have strong backgrounds in the healthcare industry and proven track records of success. Their global healthcare industry experience and worldwide market knowledge will be invaluable as we continue to diversify outside of our core orthopedic business and develop our presence in new international markets."
Brian Moore, President and Chief Executive Officer of Symmetry Medical, said, "The increased size of our board is most welcome and should provide more valuable input to meet the growing requirements of our business. We particularly look forward to working with John and Craig as they bring direct relevant industry experience and considerable international operational knowledge, particularly in Asia, which will be most useful to strengthen and develop our global
strategy."
About Symmetry Medical Inc.
Symmetry Medical Inc. is a leading independent provider of implants and related instruments and cases to the orthopedic device industry.
The Company also designs, develops and produces these products for companies in other segments of the medical device market, including arthroscopy, dental, laparoscopy, osteobiologic and endoscopy sectors and provides limited specialized products and services to non-healthcare markets, such as the aerospace market.
Investors/Media:
The Ruth Group
Nick Laudico/Jason Rando
(646) 536-7030/7025
nlaudico@theruthgroup.com
jrando@theruthgroup.com
Contact:
Symmetry Medical Inc.
Fred L. Hite
Senior Vice President
Chief Financial Officer
(574) 371-2218
