Angiotech appointed Thomas Bailey to Board of Directors, and Victor Diaz as President and COO

– CANADA, Vancouver – Angiotech Pharmaceuticals, Inc. (“Angiotech”) announced today that its shareholders and Board of Directors have approved changes to the Company’s executive management team and Board of Directors.

Effective October 8, Thomas Bailey and Angiotech mutually agreed that Mr. Bailey would transition from his current role as President and CEO of Angiotech, and into a Board role. As of that same date, at the Company’s Annual General Meeting, Mr. Bailey was elected by the Company’s shareholders to serve on Angiotech’s Board of Directors. In addition, Kurt Cellar, Jeffrey Goldberg, Don Casey, Bradley Karro and Omar Vaishnavi were also re-elected to the Board of Directors.

Mr. Victor Diaz, who has been named President and Chief Operating Officer, and Ms. Tammy Neske, Chief Business Officer, will report to the Board of Directors, and their respective roles and responsibilities will remain generally unchanged. Mr. Jay Dent will continue to serve as Senior Vice President and Chief Financial Officer.

“We would like to offer thanks, on behalf of the Board and our shareholders, to Tom for his dedication and his many significant contributions during his 10 years with Angiotech,” said Kurt Cellar and Jeffrey Goldberg, Co-Chairs of Angiotech’s Board of Directors. “Tom’s determination and experience were critical in enabling the Company to navigate many challenges, and the hard work and operating acumen of Tom and his team set the stage for Angiotech’s successful return to growth and profitability during the past two years. We look forward to continuing our work together as active members of the Board of Directors.”

“I would like to offer my sincere personal thanks to our shareholders, our Board, and most importantly to our dedicated executive team and employees, who have offered me the great privilege of working with them, and who have stood with me through both challenges and successes,” said Mr. Bailey. “Our recent results, and the returns we’ve delivered to shareholders, have been due to a unique and highly cohesive team effort among our Board, management and employees, and I very much look forward to contributing to Angiotech’s continued success as a member of our Board of Directors.”

Subsequent to the divestiture of its Interventional Products Business to Argon Medical this past spring, Angiotech changed the name of its operating business to Surgical Specialties Corporation. Surgical Specialties Corporation develops, manufactures and markets specialized surgical instruments, for its own brands as well as for selected private label and OEM customers. Surgical Specialties offers one of the most comprehensive portfolios of surgical blades, needles and sutures available for the specialty surgery market, and has trusted customer relationships and partnerships in the dental, ophthalmic, plastic surgery, dermatology, orthopedics, urology, microsurgery and trauma specialties.

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