Medgenics Mourns the Loss of Board Member Gary Brukardt

MISGAV, Israel & SAN FRANCISCO--(BUSINESS WIRE)-- Medgenics, Inc. (NYSE MKT: MDGN and AIM: MEDU, MEDG), the developer of Biopump™, a novel technology for the sustained production and delivery of therapeutic proteins in patients using their own tissue, announces the passing of Director Gary Brukardt on Tuesday, August 21, 2012. Mr. Brukardt, age 66, had served on the Company's Board of Directors since 2006 and was a member of the Audit Committee and the Nominating and Corporate Governance Committee.

"We are deeply saddened by the sudden and untimely passing of Gary Brukardt, our esteemed colleague and friend. Gary was dedicated to the success of Medgenics and his insight, energy and judgment as a Director made him an integral part of our leadership team," stated Andrew L. Pearlman, Ph.D., President and Chief Executive Officer of Medgenics. "On behalf of the Board of Directors and all of Medgenics, we offer our condolences to his family. Our thoughts and sympathies are with them at this difficult time."

Mr. Brukardt had more than 30 years of experience in the healthcare industry. He was a founder of SpecialtyCare and served as its Chairman and CEO until his passing. Under his leadership SpecialtyCare became the premier provider of outsourced clinical services, supporting 322,000 surgical procedures annually at more than 760 hospitals.

Previously he was EVP and COO of Renal Care Group, after which time he served as its President and CEO. Renal Care Group provided dialysis services to more than 32,500 patients at more than 450 outpatient dialysis facilities. Mr. Brukardt led Renal Care Group's $3.5 billion acquisition by Fresenius Medical Care in March 2006, which resulted in the creation of the world's largest integrated provider of dialysis services.

Earlier in his career he was EVP of Baptist Health Care Affiliates while also serving as Chairman of HealthNet Management, Inc., a managed care services company.

Mr. Brukardt was raised in De Pere, Wisconsin and, following service in the U.S. Army, graduated from the University of Wisconsin Oshkosh with a Bachelor of Arts in International Studies. He received a Masters of Business Administration in International Management from Thunderbird School of Global Management in Glendale, Arizona.

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Source: Medgenics, Inc.

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