John Moran named Chairman of the Board at Core Essence Orthopaedics

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Yardley, PA, April 7, 2009 – Core Essence Orthopaedics, Inc., a medical device company focused on soft tissue and skeletal repair of the extremities, today announced that John Moran has joined CoreEssence as Chairman of the Board, effective immediately. Moran joins Directors Tony Dimun, Leonard Gordon, M.D., Shawn Huxel and Zev Scherl.

“We are thrilled to welcome a proven leader like John as our board’s Chairman,” said Shawn Huxel, co‐founder and Chief Executive Officer of Core Essence. “John brings nearly 30 years of experience as an executive and investor in the medical device industry to Core Essence. We look forward to his insight and counsel as Core Essence prepares for the commercial launch of its novel portfolio of orthopedic products over the coming months.”

“Core Essence is at an exciting stage of its growth,” explained John Moran, Chairman. “With our lead products now cleared for marketing by the FDA, Core Essence is well positioned to participate in the more than $1 billion market opportunity for soft tissue repair. It will be a pleasure to work with the Core Essence team and its Scientific Advisory Board as we commence commercial operations and embark on this next phase of growth.”

From 1990‐1997, Moran served as President of Synthes Spine Inc., a division of Synthes (USA) that designs, manufactures and distributes implants and instruments for spinal disorders. During Moran’s six‐year tenure as President, Synthes Spine’s revenues grew from approximately $1 million to more than $60 million. Moran has also been a board member for a number of companies, primarily in the medical device arena, including Spine Solutions, Inc., (the developer of ProDisc). Moran is currently on the board of Paradigm Spine, LLC, Ranier Technology, Anika Therapeutics (NASDAQ: ANIK), and Power Medical Interventions, Inc. (NASDAQ:PMII). Moran is a graduate of the University of Notre Dame and holds an MBA from Harvard University.

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