Miller to chair Arrow special committee as company seeks alternatives

By Lisa Kerner

Charlotte, N.C., May 9 - The board of directors of Arrow International, Inc. formed a special committee of independent directors to explore strategic alternatives.

The committee will be chaired by Marlin Miller Jr., and committee members include John H. Broadbent, T. Jerome Holleran, R. James Macaleer and Raymond Neag.

Lazard Freres & Co LLC, an investment banking firm, has been hired to provide financial advisory services, while Dechert LLP will provide legal services in connection with the review.

Arrow International does not intend to make any additional comments about the review process until the outcome is determined or significant developments occur, according to a company news release.

The Reading, Pa., medical products company also announced that director Richard T. Niner resigned from the board on May 4.

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