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| 8-K - FORM 8-K DATED JULY 14, 2011 - MGC DIAGNOSTICS Corp | angeion113454_8k.htm |
Exhibit 99.1
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Angeion Corporation |
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FOR IMMEDIATE RELEASE
Angeion Names Lehman
CEO
Proven
leader, who was interim CEO, brings direct industry experience
ST. PAUL, Minn. — (July 20, 2011) — Angeion Corporation (NASDAQ: ANGN) today announced that its board of directors has elected Gregg O. Lehman, Ph.D., president and chief executive officer (CEO), and appointed him as a director. Lehman joined Angeion in May as interim CEO.
“Gregg has demonstrated exceptional leadership at the company in a short period and has positively affected our customers, employees, business partners and shareholders,” said Mark W. Sheffert, chairman of the board. “Having worked closely with Gregg at Health Fitness Corporation, I have great confidence in his skills and track record to successfully lead Angeion.”
Lehman brings three decades of executive management and governance experience to Angeion including 20 years in the healthcare industry. Most recently, Lehman served as president, CEO and director for Health Fitness Corporation, a health and fitness center management company, from 2007 to 2010. Prior to that, Lehman held numerous senior-level positions in the medical and education industries including: CEO of Inspiris, Inc., a health care management company; CEO of Gordon Health Solutions, Inc., which provides lifestyle and disease management programs to employers and health plans; CEO of the National Business Coalition on Health (NBCH) in Washington, D.C.; and president of Taylor University in Indiana.
“I’m honored by the opportunity to leverage my background and serve as Angeion’s CEO,” said Lehman. “I look forward to continuing to work with the board and management team, and to leading the organization to achieve our goals. I am dedicated to developing and implementing strategies and action plans to further expand our business lines worldwide.”
During his career, Lehman has served on a number of national boards and committees including the Tennessee Guardian Advisory Council for the National Federation of Independent Business, the American Society of Association Executives, the National Patient Safety Foundation and the Ethical Force Program of the American Medical Association. He is chair of the Care Continuum Alliance’s quality and research committee and serves on the organization’s executive committee of the board of directors; the Care Continuum Alliance is a multi-stakeholder group focused on population health management. Lehman is a frequent writer and speaker on employer healthcare issues and employee health benefits.
For several years, Lehman has been involved with organizations that work to prevent child abuse as well as the United Way. He volunteers his time with the Purdue University School of Education and is a former chair of the Purdue Alumni Advisory Council. In 2006, Lehman was named Purdue’s Alumnus of the Year.
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Lehman holds a Bachelor of Science in marketing and business management from Indiana University, and Master of Science and Ph.D. degrees in higher education administration from Purdue University.
About Angeion
Corporation
Founded in
1986, Angeion Corporation acquired Medical Graphics Corporation in December
1999. Medical Graphics develops, manufactures and markets non-invasive
cardiorespiratory diagnostic systems that are sold under the MedGraphics
(www.medgraphics.com) and New
Leaf (www.newleaffitness.com) brand
and trade names. These cardiorespiratory diagnostic systems have a wide range
of applications in healthcare as well as health and fitness. The Company’s
products are sold internationally through distributors and in the United States
through a direct sales force that targets heart and lung specialists located in
hospitals, university-based medical centers, medical clinics and physicians’
offices, pharmaceutical companies, medical device manufacturers, clinical research
organizations, health and fitness clubs, personal training studios, and other
exercise facilities. For more information about Angeion, visit www.angeion.com.
Forward Looking
Statements
The
discussion above contains forward-looking statements about Angeion’s future
financial results and business prospects that by their nature involve
substantial risks and uncertainties. You can identify these statements by the
use of words such as “anticipate,” “believe,” “estimate,” “expect,” “project,”
“intend,” “plan,” “will,” “target,” and other words and terms of similar
meaning in connection with any discussion of future operating or financial
performance or business plans or prospects. Our actual results may differ
materially depending upon a variety of factors, including: (1) national and
worldwide economic and capital market conditions; (2) continuing
cost-containment efforts in our hospital, clinics, and office market; (3) any
changes in the patterns of medical reimbursement that may result from national
healthcare reform; (4) our ability to successfully operate our business,
including converting our ongoing research and development expenditures into new
and improved cardiorespiratory diagnostic products and selling these products
and services under our MedGraphics and New Leaf brand names into existing and
new markets; (5) our ability to complete our software development initiative
and migrate our MedGraphics and New Leaf software platforms to a next
generation technology; (6) our ability to maintain our cost structure at a
level that is appropriate to our near- to mid-term revenue expectations and
that will enable us to increase revenues and profitability as opportunities
develop; (7) our ability to achieve constant margins for our products and
consistent and predictable operating expenses in light of variable revenues
from our clinical research customers; (8) our ability to expand our worldwide
international revenue through our distribution partners and our Milan Italy
representative office; (9) our ability to successfully defend ourselves from
product liability claims related to our cardiorespiratory diagnostic products
and claims associated with our prior cardiac stimulation products; (10) our
ability to defend our existing intellectual property and obtain protection for
intellectual property that we may develop in the future; (11) our ability to
develop and maintain an effective system of internal controls and procedures
and disclosure controls and procedures; and (12) our dependence on third-party
vendors; and (13) the ability of the new members of our senior management team to make a successful transition into their new roles
to and for all members of our senior management to develop and implement a
successful strategic plan. Additional information with respect to the risks and
uncertainties faced by the Company may be found in, and the above discussion is
qualified in its entirety by, the other risk factors that are described from
time to time in the Company’s Securities and Exchange Commission reports, including
the Annual Report on Form 10-K for the year ended October 31, 2010.
Contact: Mark W. Sheffert, Chairman of the Board, (612) 436-2818
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