Grifols Announces the Appointment of Thomas Glanzmann as Chairman of its New Board of Directors for U.S. Operations

Following the recent acquisition of Talecris Biotherapeutics, Grifols has established a new Board of Directors for its US operations that draws on some of industry's most well-known and experienced leaders, who will assure a smooth integration of the two companies and create a new leader in the plasma therapies market.

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Grifols

Jun 06, 2011, 12:55 ET

RESEARCH TRIANGLE PARK, N.C., June 6, 2011 /PRNewswire/ -- (NASDAQ: GRFS). Grifols, a global healthcare company and biopharmaceutical manufacturer based in Barcelona, Spain, today announced the establishment of a new Board of Directors for its U.S. operations, including the appointment of Thomas Glanzmann as Chairman of the Board, who previously was president of another leading global plasma therapeutics business, and the reappointment of Gregory Rich as Chief Executive Officer (CEO) of Grifols U.S. operations.

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Thomas Glanzmann was also appointed to direct the integration process because of his past leadership experience in the plasma industry and his history of successfully integrating other companies with plasma product portfolios.

"It is an honor to serve in this capacity and with such an experienced group of professionals," said Thomas Glanzmann. "I look forward to bringing together the outstanding expertise of these two successful companies to create the world's leading plasma company," Mr. Glanzmann said. With the transaction now complete, Grifols will begin the process of integrating the two companies.

Gregory Rich will continue as CEO of Grifols' expanded U.S. operations that now include manufacturing facilities and corporate offices in North Carolina. "Our enlarged presence in the U.S. will provide tremendous opportunities for us to expand patient access to plasma therapies both domestically and around the world," stated Mr. Rich. "As we integrate our two companies into one, our goal is to build on the exceptional customer service and quality operations that people have come to expect from both Grifols and Talecris," said Mr. Rich. With more than thirty years of experience in the plasma industry associated with Grifols, Mr. Rich has driven Grifols' profitability in the U.S., serving as CEO of the US operations since 2003. The combined 2010 U.S. sales for both companies were more than $1.8 billion.

"The combined experience of this Board is unsurpassed in the plasma industry," said Mr. Victor Grifols, President of Grifols, S.A., the parent holding company of Grifols U.S. operations. "The continuity of leadership and oversight from this Board of Directors will assure a successful integration and position us for tremendous growth," continued Mr. Grifols. The new eight-member Board of Directors is composed of individuals with unparalleled experience and proven capabilities, many of whom also serve on the Board of Directors for Grifols, S.A.

In addition to Messrs Glanzmann and Rich, the Board members include:

Víctor Grifols, President of the Board of Directors for Grifols, S.A., the Spanish holding company, since 1991, has nearly 40 years of experience in the industry. Since becoming Chairman, Mr. Grifols has grown the company from under $200 MM in revenue in 1991 to nearly $1.5 billion in 2010, prior to acquiring Talecris.

Juan Ignacio Twose has served as Grifols' Vice President of Manufacturing since 1988. Mr. Twose joined Grifols 1973 as a director and has been responsible for the industrial division of Grifols since its creation. He has overseen the company's strategic growth and development of production facilities and infrastructure investment. Mr. Twose received a degree in industrial engineering from the Escuela Tecnica Superior of Barcelona.

Ramon Riera serves as Grifols' Vice President of Global Marketing and Sales and has been with Grifols since 1977. In 1988 Mr. Riera became the Vice President of Marketing and Sales worldwide. He has been responsible for leading the company's strategic international growth and establishing Grifols as a global healthcare company. Mr. Riera earned a degree in chemical sciences from the Universidad Autonoma de Barcelona.

Alfredo Arroyo, Vice President of Finances and Chief Financial Officer, has been with Grifols for more than 4 years. Prior to joining Grifols, Mr. Arroyo served in different senior financial positions for a variety of international companies. In his role on the Board, Mr. Arroyo will facilitate the Talecris integration process by identifying and capturing synergies resulting from the combination of the two companies.

David I. Bell, General Counsel and Vice President of Corporate Operations and Development, joined Grifols when the company entered the U.S. market in 2003. Prior to joining Grifols, Mr. Bell was general counsel to Alpha Therapeutic Corporation following a 23-year career as a corporate litigator. Mr. Bell played an integral role in Grifols' acquisition of Talecris and has been instrumental in other Grifols acquisitions in the U.S.

Tomas Daga has served as a director of Grifols since April 2000 and has led the company's mergers and acquisitions growth strategy, including the recent Talecris acquisition. He is also a member of the Board of Directors of Scranton Enterprises B.V., Zambon, S.A., Pharmazam S.A. and StoraEnso Barcelona, S.A. Mr. Daga is a trustee of the Joaquim Molins Figueras Foundation in Barcelona and is the managing partner of the Barcelona office of the law firm Osborne Clarke Spain. Prior to joining Osborne Clarke, Mr. Daga worked in the corporate and tax department of Peat Marwick Mitchell & Co. in Barcelona from December 1979 to September 1986. Mr. Daga earned a law degree from the University of Barcelona.

Raimon Grifols is an ex-officio member of the Board serving as Secretary since 2001. He is a partner at the law firm of Osborne Clarke Spain and a member of the Board of Directors of Squadron Reinsurance Ltd., Marca Grifols, S.L., Arrahona Optimus, S.L., and patron of the Probitas Fundacion Privada. Mr. Grifols earned his law degree from the University of Barcelona.

Additional seats on the Board of Directors for Grifols U.S. operations will be considered as the integration progresses. The new Board of Directors for U.S. operations is fully empanelled and has assumed operational oversight of Grifols U.S. operations, including Talecris. The entire U.S. Board of Directors is meeting in Raleigh, NC, during the first part of June 2011 to formally launch the Talecris integration process.

About Grifols

Grifols is a Spanish holding company that specializes in the pharmaceutical-hospital sector and is present in more than 90 countries. The company's class A shares have been listed on the Spanish Stock Exchange ("Mercado Continuo") since 2006 under the symbol GRF and have been part of the Ibex-35 since 2008. In 2011, the company listed non-voting class B shares on the Mercado Continuo under the symbol GRF.P and in the United States on the NASDAQ under the symbol GRFS.

After the recent purchase of Talecris, Grifols is now the third largest company worldwide in the plasma protein therapies sector, with a balanced and diversified range of products. In upcoming years, the company will strengthen its leadership in the industry as a vertically integrated company, as a result of ongoing investment plans. Grifols is the world leader in plasma collection, with 147 plasma donor centers in the United States to ensure a continued and reliable supply of human plasma for the production of plasma therapies. In terms of production capacity (fractionation), Grifols owns and operates several plants in Spain and the United States that allow the company to respond to the growing market demand. Grifols' sustained growth will be supported by a strong presence in the United States, Canada and Europe, where upcoming sales will represent 53%, 7% and 26%, respectively.

DISCLAIMER

The facts and figures contained in this report which do not refer to historical data are "projections and forward-looking statements". The words and expressions like "believe", "hope", "anticipate", "predict", "expect", "intend", "should", "try to achieve", "estimate", "future" and similar expressions, insofar as they are related to Grifols Group, are used to identify projections and forward-looking statements. These expressions reflect the assumptions, hypothesis, expectations and anticipations of the management team at the date of preparation of this report, which are subject to a number of factors that could make the real results differ considerably. The future results of Grifols Group could be affected by events related to its own activity, such as shortages of raw materials for the manufacture of its products, the launch of competitive products or changes in the regulations of markets in which it operates, among others. At the date of preparation of this report Grifols Group has adopted the measures it considers necessary to offset the possible effects of these events. Grifols, S.A. does not assume any obligation to publicly inform, review or update any projections and forward-looking statements to adapt them to facts or circumstances following the preparation of this report, except as specifically required by law.

This document does not constitute an offer or invitation to purchase or subscribe shares, in accordance with the provisions of the Spanish Securities Market Law 24/1988, of July 28, the Royal Decree-Law 5/2005, of March 11, and/or Royal Decree 1310/2005, of November 4, and its implementing regulations.

SOURCE Grifols