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EXHIBIT 99.1
For: Encore Medical Corporation FOR IMMEDIATE RELEASE
CONTACT: HARRY L. ZIMMERMAN, EXECUTIVE
VICE PRESIDENT - GENERAL COUNSEL
(512) 832-9500
ENCORE MEDICAL HIRES NEW CEO
COMPANY TO EMBARK ON AGGRESSIVE ACQUISITION CAMPAIGN
Austin, Texas - October 2, 2000: Encore Medical Corporation (ENMC:NASDAQ) took
the first step in its new strategy of growth through strategic acquisitions when
it hired Kenneth W. Davidson as Chief Executive Officer and President. Nick
Cindrich, current CEO will remain as Chairman of the Board of Encore Medical
Corporation. Craig L. Smith will continue as President of Encore Orthopedics,
Inc., a wholly owned subsidiary.
Ken Davidson is the former Chairman, CEO and President of Maxxim Medical, Inc.
This medical product supply and distribution company grew under Mr. Davidson's
leadership from $17.2 million in revenues in 1989 to $645 million in revenues in
1999. This was accomplished, in part, as a result of over 15 acquisitions that
were undertaken and successfully integrated during those 10 years of Mr.
Davidson's stewardship. Mr. Davidson currently is a director of Maxxim Medical,
Inc., Circon Holdings Corp., Florida Bank of Pinellas, Operation Rainbow, an
international charity, and a trustee of the AORN Foundation.
Nick Cindrich, Chairman of Encore Medical, stated, "We are very excited to have
Ken join us and bring his expertise in growing a successful medical company
through well timed and integrated acquisitions. Ken has been a board member of
Encore for several years now and so starts with the advantage of knowing the
company, its resources and its people. We know that this new direction will take
us on the path to increasing shareholder value. Having Ken as the leader of this
endeavor will bring added strength to the already strong Encore management
team."
Encore Medical Corporation (www.encoremed.com) currently designs, manufactures,
markets and sells orthopedic total joint, trauma, and spinal implants around the
world. It has been one of the fastest growing United States orthopedic companies
since its founding in 1992. Over the past several years it has significantly
expanded its product offerings to include a broad line of total joint implants,
trauma products and several different spinal products. It has over 110 employees
based in Austin, Texas.
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Except for the historical information contained herein, the matters discussed
are forward-looking statements made pursuant to the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995. These statements involve
risks and uncertainties, such as quarterly fluctuations in operating results,
the timely availability of new products, the impacts of competitive products and
pricing, and other risks and uncertainties set forth in the Company's filings
with the Securities and Exchange Commission. These risks and uncertainties could
cause actual results to differ materially from any forward-looking statements
made herein.
