Ray Walsh Joins Biovation As Director of Operations

FOR RELEASE: IMMEDIATE

Walsh will lead Biovation’s operations groups as it prepares for ISO 13485 certification and to implement new equipment and processes

BOOTHBAY, ME – Biovation, a manufacturer of biopolymer non-woven fiber products for medical, packaging, and specialty markets, announces that Ray Walsh has joined the executive management team as Director of Operations. Walsh brings significant experience in manufacturing to his new post, where he is responsible for growing and managing the operations department, and providing leadership for Biovation’s facilities, process and manufacturing personnel.

Walsh previously served as Director – Project Manager for Biovation’s parent company, Anania & Associates. His background includes positions in diversified process industries, including pulp/paper and converting, real-time online instrumentation and process control, seafood, building products, and industrial microwave equipment manufacturing. He has served in numerous roles, including in engineering, sales, marketing, and operations. Walsh also has experience managing large crews, including a manufacturing facility and for a seafood processing/sales company .

“I am very pleased that Ray has joined our team and will lead our operations efforts as we implement our growth strategies. During the last several years we have successfully installed a unique and differentiated biopolymer non-woven manufacturing line and are now poised to leverage its continuous operation to customer specific products,” says Biovation Chief Executive Officer Kerem Durdag. ”Ray’s years of experience with and knowledge from global manufacturing companies will be beneficial to our operations in 2015 and beyond.”

Biovation will release several new products within this calendar year, including an infection control barrier product (the BioArmour™ Blood Pressure Cuff Shield), a specialty advanced product for the Department of Defense (the DryRight™), and several roll goods products for niche markets. Additionally, with the implementation of the ISO 13485 processes and systems, new manufacturing equipment is being installed to ensure high-throughput product delivery for Biovation’s growing customer base.

About Anania & Associates Investment Company LLC

Anania & Associates Investment Company LLC (AAI) is a Maine based and focused private equity firm that partners with management teams acquiring and building companies with a high potential for growth. Founded in 2008 the fund currently has 8 portfolio companies representing over 450 employees and $75 million in revenue.  AAI is a long term, regionally focused investor focused on supporting sustainable growth for its portfolio companies which include: Biovation II LLC, Elmet Technologies LLCGrow-Tech LLCLighthouse Imaging LLCMEGA Industries LLCmWAVE Industries LLCSynergistic Software Solutions LLC & TrakTec LLC.

About Biovation II, LLC

Biovation is a technology design and manufacturing company that manufactures advanced polylactic acid (PLA)-based non-woven fiber end products and roll goods with integrated antimicrobial properties for packaging, infection control, advanced wound care, hygiene, and other specialty applications. Biovation has extensive experience with green biopolymers such as,PLA, which comes from cornstarch and is completely biodegradable. For more information, call +1.207.633.0616 or visit www.biovation.com. CONTACT: Kerem Durdag: kdurdag@biovation.com; 207.632.2559

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