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Cirtec Medical Announces Appointment of New Chief Executive Officer

1. Shar Matin appointed CEO of Cirtec Medical effective September 2025. 2. Shar has extensive experience in scaling medical technology businesses. 3. Previous CEO successfully transformed Cirtec into a leading CDMO. 4. Cirtec aims to enhance patient care through innovative medical technologies. 5. Shar also serves on the Board of Koru Medical Systems (KRMD).

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FAQ

Why Bullish?

The appointment of a seasoned CEO can lead to enhanced growth and innovation at Cirtec, indirectly benefiting KRMD due to increased collaboration opportunities and market confidence, similar to how successful leadership changes have positively impacted companies in the industry, such as Boston Scientific under its leadership transitions.

How important is it?

Shar Matin's leadership at Cirtec may not only improve Cirtec's performance but could also create strategic advantages for Koru Medical (KRMD), making this news particularly relevant for investors.

Why Long Term?

While the immediate impact of Shar Matin’s appointment might be limited, the long-term potential lies in his experience driving growth, which could enhance partnerships and business for both Cirtec and KRMD over time.

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KRMD
BROOKLYN PARK, Minn., Aug. 28, 2025 (GLOBE NEWSWIRE) -- Cirtec Medical, a leading strategic outsourcing partner for complex minimally invasive, active implantable devices and precision components, is pleased to announce the appointment of Shar Matin as Chief Executive Officer, effective September 2, 2025. Shar brings more than 25 years of global leadership experience in the medical technology sector, with a proven track record of scaling businesses, driving innovation, and building strong customer partnerships. He most recently served as CEO of Cordis, where he led the successful transformation from a division of Cardinal Health to one of the world’s largest pure-play cardiovascular companies, including spearheading the acquisition of MedAlliance’s drug-eluting balloon technology. Prior to Cordis, Shar held senior executive roles at ViewRay Technologies, Spectranetics (acquired by Royal Philips), Boston Scientific, and Guidant (acquired by Boston Scientific and Abbott Laboratories). Through these roles, he consistently delivered growth through new product innovation, strategic acquisitions, and global expansion. Shar started his career as a process and manufacturing engineer. He holds an MBA from Harvard Business School and a Bachelor of Science in Mechanical Engineering from the University of California, Berkeley. Shar also serves on the Board of Directors for Koru Medical Systems (NASDAQ: KRMD). “Shar is an experienced leader with a demonstrated ability to accelerate growth, strengthen customer partnerships, and drive innovation,” said Rich Relyea, Cirtec Board member and 3i Private Equity Partner. “On behalf of the Board, we are excited to welcome him to Cirtec and are confident he will build on the company’s strong foundation and help shape its next chapter of success.” Reflecting on his appointment, Shar shared: “Cirtec has tremendous momentum, and I am humbled and privileged to lead the company into its next phase of growth while building on the incredible foundation already in place. Together with our teammates and as a trusted partner to our customers, I look forward to fulfilling our mission of bringing life-changing medical technologies to market for the betterment of patient care.” The Cirtec Board of Directors also expressed its gratitude to Brian Highley for his leadership of Cirtec over the past decade. “Brian transformed Cirtec over the course of 11 years into an industry-leading CDMO with remarkable growth and expansion. His vision and commitment have been instrumental in establishing Cirtec as a trusted partner to some of the world’s most innovative medical technology companies, and we thank Brian for all his contributions to building Cirtec into the leader that it is today.” The Board also thanks Ed Philbin, who served as Interim CEO over the past several months, for his leadership during the transition period. His dedication and support have been key in continuing Cirtec’s momentum and delivering a seamless handover to new leadership. About Cirtec Medical Cirtec Medical is a global leader in design, development, and manufacturing of complex Class II and III medical devices, specializing in active implant systems, interventional devices, and precision components. Since 1987, Cirtec Medical has built extensive in-house capabilities that enable the company to serve as a single-source partner and collaborate with customers to transform their technology into innovative medical devices across a wide array of therapies, including cardiology, neurology, orthopedics and other minimally invasive device applications. Cirtec Medical’s deep expertise in precision component design and manufacturing supports every stage of the product lifecycle, ensuring uncompromising quality and performance. With 11 global facilities and a vertically integrated approach, Cirtec Medical aims to expedite time to market, reduce risk, and accelerate revenue generation for our partners. Learn more at CirtecMed.com. For Media Inquiries Abby Kupka Sr. Manager, Marketing Cirtec Medical (763) 235-8835

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