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<ACCESSION-NUMBER>0000950134-05-005972
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>1
<PERIOD>20050321
<ITEMS>5.02
<FILING-DATE>20050325
<DATE-OF-FILING-DATE-CHANGE>20050325
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>SURMODICS INC
<CIK>0000924717
<ASSIGNED-SIC>6794
<IRS-NUMBER>411356149
<STATE-OF-INCORPORATION>MN
<FISCAL-YEAR-END>0930
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>000-23837
<FILM-NUMBER>05703479
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>9924 W 74TH ST
<CITY>EDEN PRAIRIE
<STATE>MN
<ZIP>55344
<PHONE>6128292700
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>9924 WEST 74TH ST
<CITY>EDEN PRAIRIE
<STATE>MN
<ZIP>55344
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>BSI CORP
<DATE-CHANGED>19970506
</FORMER-COMPANY>
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<TYPE>8-K
<SEQUENCE>1
<FILENAME>c93586e8vk.htm
<DESCRIPTION>FORM 8-K
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<P align="center" style="font-size: 14pt"><B>SECURITIES AND EXCHANGE COMMISSION</B>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<P align="center" style="font-size: 18pt"><B>FORM 8-K</B>


<P align="center" style="font-size: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section&nbsp;13 or 15(d) of the<BR>
Securities Exchange Act of 1934</B>


<P align="center" style="font-size: 10pt">Date of Report (Date of earliest event reported): March&nbsp;21, 2005


<P align="center" style="font-size: 24pt"><B>SurModics, Inc.</B>


<DIV align="center" style="font-size: 10pt">(Exact name of Registrant as Specified in its Charter)</DIV>



<P align="center" style="font-size: 10pt">Minnesota<BR>
(State or Other Jurisdiction of Incorporation)


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    <TD align="center" valign="top">0-23837<BR>
(Commission File Number)
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    <TD>&nbsp;</TD>
    <TD align="center" valign="top">41-1356149<BR>
(IRS Employer<BR>
Identification No.)</TD>
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<P align="center" style="font-size: 10pt">9924 West 74th Street<BR>
Eden Prairie, Minnesota 55344<BR>
(Address of Principal Executive Offices and Zip Code)



<P align="center" style="font-size: 10pt">(952)&nbsp;829-2700<BR>
(Registrant&#146;s telephone number, including area code)



<P align="center" style="font-size: 10pt">Not Applicable<BR>
(Former Name or Former Address, if Changed Since Last Report)


<P align="left" style="font-size: 10pt">Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:


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    <TD>Written communications pursuant to Rule&nbsp;425 under the Securities Act (17
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    <TD>Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR
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<TR><TD></TD><TD colspan="8"><A HREF="#000">Item&nbsp;5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.</A></TD></TR>
<TR><TD colspan="9"><A HREF="#001">SIGNATURES</A></TD></TR>
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<P align="left" style="font-size: 10pt"><B>Item&nbsp;5.02 Departure of Directors or Principal Officers; Election of Directors;
Appointment of Principal Officers.</B>


<P align="left" style="font-size: 10pt">(b) <U>Departure of Directors and Principal Officers.</U> On March&nbsp;21, 2005,
SurModics, Inc. (the &#147;Company&#148;) issued a press release announcing that Dale R.
Olseth will be retiring as Chief Executive Officer effective July&nbsp;1, 2005. Mr.
Olseth will continue to serve as an employee of the Company and remain on its
Board of Directors as Executive Chairman.


<P align="left" style="font-size: 10pt">(c) <U>Appointment of Principal Officers.</U> The Company also announced in its March
21, 2005 press release that its Board of Directors elected Bruce J Barclay (age
48) to the position of Chief Executive Officer effective July&nbsp;1, 2005 and that
he will continue also to serve as the President of the Company. Mr.&nbsp;Barclay
joined the Company as its President and Chief Operating Officer in December
2003 and became a director of the Company in July&nbsp;2004. Prior to joining the
Company, he served as President and Chief Executive Officer of Vascular
Architects, Inc., from 2000 to 2003. Prior to Vascular Architects, he served
at Guidant Corporation, most recently as an officer and Senior Vice President
from 1998 to 2000. Mr.&nbsp;Barclay also has considerable experience in the
pharmaceutical area serving in several positions at Eli Lilly and Company. Mr.
Barclay also serves on the Board of Directors of Cardiac Science, Inc. Mr.
Barclay received a B.S. in chemistry and a B.A. in biology from Purdue
University in 1980 and a J.D. from the Indiana University School of Law in
1984. He is also a registered patent attorney.


<P align="left" style="font-size: 10pt">Since the beginning of the Company&#146;s last fiscal year, there has not been, and
there is currently no proposal for, any transaction between the Company and Mr.
Barclay of the sort required to be disclosed by Item 404(a) of Regulation&nbsp;S-K.



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<P align="center" style="font-size: 10pt">SIGNATURES



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


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    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">SURMODICS, INC.<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" style="border-bottom: 1px solid #000000" align="left">By /s/ Dale R. Olseth
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">Date:  March 25, 2005&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD colspan="2" align="left">Dale R. Olseth&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD colspan="2" align="left">Chief Executive Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
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