Press Release: Ximedica Appoints New President & Chief Executive Officer

April 9, 2012

Apr 09, 2012

PROVIDENCE, R.I., April 9, 2012 - Ximedica, provider of comprehensive product development services to leading medical device makers and healthcare companies, today announced that it has named Randall S. Barko to serve as the company’s President & Chief Executive Officer. Barko succeeds Stephen Lane, Ximedica’s founding Chief Executive Officer. Lane will assume the role of Chairman and Chief Venture Officer focusing on adjacent growth opportunities. The new appointments will take effect immediately.

“I am extremely excited about the opportunity to lead the global team at Ximedica,” said Barko. “Since I have been deeply involved with Ximedica and other medical device manufacturers for my entire career, I appreciate the challenges and opportunities we, along with the rest of the Healthcare Industry, are facing today. I believe that Ximedica has the capability and expertise to take advantage of this changing environment and become an even greater resource to our global clients. There are few, if any, companies in the world that have the fully integrated resources and expertise that the team at Ximedica has from insight to outcome to help bring our client’s products to market on time, within budget and with reduced risk.”

Randy comes to Ximedica with over 30 years of leading medical device and healthcare organizations towards global and financial growth. He has served as an executive advisor to Ximedica for the past 3 years. Currently Barko serves on the Board of Directors of several privately owned companies and is involved with several private equity and venture capital groups.

Prior to these roles, Randy was Vice President of Corporate Development at Flextronics (NASDAQ: FLEX) and was Corporate Vice President, Marketing & Business Development and member of the Board of Directors at Nypro Inc. During his 25 years with Nypro he was responsible for the business teams that led to steady growth in annual sales from $40 million to $1 billion. Barko was also President & CEO of the Nypro Medical Products Group and Chairman of NP Medical Inc.

“The decision to appoint Randy to this role is as significant as it is deliberate” states Lane, “Ximedica is committed to meeting the complex demands of the healthcare industry today. Randy’s experience and deep understanding of both the medical landscape and our organization’s ethos will be key drivers in our future growth.”