Parche, RCG agree to jointly solicit proxies for election of nominees to Kensey Nash board

By Jennifer Chiou

New York, Oct. 10 - Kensey Nash Corp. investors Parche, LLC and RCG Starboard Advisors agreed to the joint filing of statements on schedule 13D with respect to Kensey Nash stock.

The companies also agreed to form the group for the purpose of soliciting proxies or written consents for the election of the people nominated by RCG Starboard to Kensey Nash's board at the 2007 annual meeting.

As already announced, Parche beneficially owns 2,485,740 shares, or 20.8%, of Kensey Nash's outstanding stock, according to a schedule 13D filing with the Securities and Exchange Commission.

On Aug. 29, Parche reported the purchase of 1,023,988 shares of the company's stock between July 24 and Aug. 28 priced from $23.29 to $26.32 per share. At that time, the reporting persons owned 2,204,622 shares, or 18.5%, of the Exton, Pa., medical technology company.

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