TAMPA, Fla., May 1 /PRNewswire-FirstCall/ -- MiMedx Group, Inc. (OTC Bulletin Board: MDXG) announced today that Ronald G. Wallace, former President of UPS International, has been appointed to its Board of Directors, effective April 29, 2008.
Commenting on the appointment, Thomas D'Alonzo, Chief Executive Officer, stated "We are delighted to bring someone of Ron's stature, independence and knowledge to our Board. Ron's financial acumen and his experience with running a large international business will provide great value to the Company as he works with the Board and its Audit and Compensation Committees to assist us in the implementation of our vision and strategy."
Mr. Wallace is the former President of UPS International and member of the Management Committee that is responsible for the day to day operations of the company. UPS is a 90 billion dollar company with over 400,000 employees worldwide. Mr. Wallace's responsibilities included the development of UPS in over 220 countries. He joined UPS in 1966 and held key management positions throughout his career. Mr. Wallace served on 34 different UPS boards throughout the world and was a member of the World Trade Center. He presently is a director on several boards, including the National Board for Speedway Childrens Charity. He served as Chairman for the Georgia Governor's Commission and was responsible for the development of the new City of Milton. Mr. Wallace is also a Lieutenant, in charge of the reserve unit for the Alpharetta Police Department, and was awarded the Directors Award last year.
About MiMedx Group, Inc.
MiMedx Group, Inc. is the parent company for MiMedx, Inc., a development-stage Florida corporation founded in 2006, with technology focusing on biomaterials for soft tissue repair, such as tendons, ligaments and cartilage, as well as other biomaterial-based products for other medical applications. MiMedx, Inc., based in Tampa, Florida, holds an exclusive, worldwide license from the Shriner's Hospital for Children and the University of South Florida Research Foundation for certain nordihydroguaiaretic acid (NDGA) technology. MiMedx is targeting this proprietary technology for a number of diverse medical applications.
MiMedx, Inc. also has a wholly-owned subsidiary, SpineMedica, LLC, based in Atlanta, Georgia, led by an industry veteran, R. Lewis Bennett. SpineMedica, a Florida limited liability company, is a development-stage company focusing on the commercialization of medical device technologies for application in the spine and chronic back pain. SpineMedica's goal is to acquire promising technologies in this field through licensing arrangements and develop and commercialize such technologies.
For further information, please refer to the Current Report on Form 8-K to be filed by MiMedx Group, Inc. with the SEC as soon as practicable, which will be accessible at: http://www.sec.gov/cgi-bin/browse- edgar?action=getcompany&CIK=0001376339&owner=include&count=40l. You may also contact Matthew J. Miller, Executive Vice President of MiMedx Group, at 813-866-0000, for additional information.
SOURCE MiMedx Group, Inc.
