Angeion Corporation Appoints
Paula Skjefte to Board of Directors
SAINT PAUL, Minnesota. (February 7, 2008) ─ Angeion Corporation, (NASDAQ: ANGN) today announced the addition of Paula Skjefte to its Board of Directors effective immediately. After 16 years with Medtronic, Inc., Skjefte formed Waterford Consulting, a medical device consulting company focused on new product innovation. Angeion now has seven members on its Board of Directors, six of whom are independent.
“We are pleased to announce the election of Paula to our Board of Directors,” said Rodney A. Young, president and CEO of Angeion. “Paula’s experience in the health care industry and her expertise in product launches and commercialization make her a valuable asset to our board.”
“I am extremely honored to join Angeion’s Board of Directors,” said Skjefte. “Angeion has a proven record of success – including five consecutive years of double-digit growth – and its leading-edge core cardiorespiratory technology and market growth opportunities, both domestically and internationally, suggest a productive future.”
Skjefte brings more than 25 years of health care experience to Angeion. While at Medtronic, Inc. she held a number of roles, including vice president of consumer business for the physio control division and vice president of marketing, product and strategic planning in the arrhythmia management division. As a vice president at Medtronic, Skjefte helped create the first consumer AED business, led strategic and product planning goals and worldwide marketing efforts and chaired the Cardiac Rhythm Management Product Portfolio Board. Skjefte previously served on the boards of the Medtronic Foundation, Vitatron Corporation, Medtronic European and Japanese Operating and is a member of the National Association of Corporate Directors. She earned an MBA from the University of Minnesota and a bachelor of science in nursing degree from the University of Wisconsin.
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 Fitness (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.
The discussion above contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements by their nature involve substantial risks and uncertainties. Our actual results may differ materially depending on a variety of factors including: (i) our ability to successfully operate our business including our ability to develop, improve, and update our cardiorespiratory diagnostic products and successfully sell these products under the MedGraphics and New Leaf Fitness brand names into existing and new markets, (ii) 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, (iii) our ability to effectively manufacture and ship products in required quantities to meet customer demands, (iv) our ability to expand our international revenue through our distribution partners and our Milan Italy representative branch office; (v) 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, (vi) our ability to protect our intellectual property, (vii) our ability to develop and maintain an effective system of internal controls and procedures and disclosure controls and procedures, and (viii) our dependence on third-party vendors. Additional information with respect to the risks and uncertainties faced by the Company may be found in, and any prior discussion is qualified in its entirety by, the other risk factors that are described from time to time in Angeion's Securities and Exchange Commission reports, including but not limited to the Annual Report on Form 10-KSB for the year ended October 31, 2005, and subsequently filed reports.
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