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| [December 10, 2012] |
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Obagi Medical Confirms Receipt of Directors Nomination Notice from Voce Capital
LONG BEACH, Calif. --(Business Wire)--
Obagi Medical Products, Inc. ("Obagi" or the "Company") (NASDAQ:OMPI), a
leader in topical aesthetic and therapeutic skin health systems, today
confirmed that Voce Capital has submitted to the Company a notice of
intent to nominate a slate of candidates to replace the Obagi Board of
Directors at the Company's 2013 Annual Meeting of Stockholders.
Obagi issued the following statement:
The Obagi Board of Directors and management team are committed to acting
in the best interests of the Company and its stockholders, including
considering options that fully reflect the value and prospects of the
Company. The Board is actively engaged in overseeing management's
execution of the Company's strategic plan, which includes further
penetrating its existing physician channel, launching its e-commerce
platform and expanding in international markets. The Board is confident
that this strategy will result in significant value for all stockholders.
Obagi noted that its Board of Directors is comprised of seven highly
qualified and experienced directors, six of whom are independent and all
of whom are elected annually. Obagi's directors are proven business
leaders with a broad range of experience in healthcare, cosmetics,
consumer products, e-commerce, finance and other areas important to
Obagi's business. On August 2, 2012, Obgi added a new independent
director, Kristina M. Leslie, who has significant experience serving as
a director on public company boards, as well as expertise in finance,
accounting, cosmetics and the operation of e-commerce platforms.
The Company will review the nomination notice when received in
accordance with the Company's bylaws and applicable law, and will
provide stockholders with proxy materials, including a proxy card, in
connection with the 2013 Annual Meeting of Stockholders in due course.
About Obagi Medical Products, Inc.
Obagi Medical Products is a specialty pharmaceutical company that
develops, markets and sells, and is a leading provider of, proprietary
topical aesthetic and therapeutic prescription-strength skin care
systems in the physician-dispensed market. Using its Penetrating
Therapeutics™ technologies, Obagi Medical's products are designed to
improve penetration of agents across the skin barrier for common and
visible skin conditions in adult skin including premature aging,
photodamage, hyperpigmentation (irregular or patchy discoloration of the
skin), acne, sun damage, rosacea, and soft tissue deficits, such as fine
lines and wrinkles. Obagi Medical's portfolio, which includes cosmetic,
over-the-counter and prescription products, including 4% hydroquinone,
is sold and promoted only through physician offices and requires
education by a physician on proper use. Obagi's skin care products
include: Obagi Nu-Derm®, Obagi-C® Rx (a prescription-strength vitamin C
and hydroquinone system), Obagi® Professional-C (a line of highly stable
vitamin C serums), Obagi Condition & Enhance® for use with cosmetic
procedures to enhance patient outcomes and satisfaction, Obagi
ELASTIderm® Eye Treatments, Obagi CLENZIderm® M.D. acne therapeutic
systems, Obagi ELASTIderm Décolletage System, Obagi Rosaclear® System,
Obagi ELASTILash® Eyelash Solution, Obagi Blue Peel RADIANCE®, Nu-Derm®
Sun Shield SPF 50 and Nu-Derm® Hydrate. Visit http://www.obagi.com
for information.
Penetrating Therapeutics is a trademark, and Obagi, the Obagi logo, Blue
Peel RADIANCE, Condition & Enhance, ELASTIderm, ELASTILash, Nu-Derm,
Obagi-C, Obagi CLENZIderm and Rosaclear are registered trademarks, of
Obagi Medical Products, Inc. and/or its affiliates in the United States
and certain other countries.

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