Kairos Partners III, LP ("Kairos"), today announced its intention to vote for the dissident slate of directors for the board of Osteotech, Inc. proposed by the Spencer Capital Opportunity Fund, L.P., Boston Avenue Capital LLC and Heartland Advisors, Inc. (the "Concerned Osteotech Stockholders") at the annual meeting of shareholders to be held on August 23, 2010. Kairos has been a shareholder of Osteotech since 2005 and currently owns 953,057 shares of Osteotech, accounting for 5.26% of its shares outstanding.
The dissident director slate was developed and is being promoted by the Concerned Osteotech Stockholders who collectively control approximately 22.8% of Osteotech shares outstanding.
Kairos shares the concerns raised by the Concerned Osteotech Stockholders including, among others;
Kairos believes the program for change outlined by the Concerned Osteotech Stockholders in their proxy filing will place Osteotech on the right path to improve its overall performance and maximize value for all of the company's shareholders.
Kairos is a private medical technology investment partnership. For more information, please contact Jim Rice of Kairos Partners at 781-713-4149, or email at firstname.lastname@example.org (mailto:email@example.com) .