SAINT PAUL, Minn., Feb. 13, 2012 /PRNewswire/ -- Angeion Corporation (NASDAQ: ANGN) announced today that Todd M. Austin has been named to the newly created position of Executive Vice President Global Marketing and Corporate Strategy effective immediately. Mr. Austin will be responsible for creating and managing the global branding initiatives of the Company's product lines, and will play a key role in directing the overall corporate strategy for the Company. He will report to Dr. Gregg O. Lehman, president and chief executive officer of Angeion Corporation.
In a career spanning 20 years Mr. Austin is a globally recognized clinical and medical device industry expert and leader with extensive experience in product development and marketing, strategic planning, business development, P&L responsibility, and clinical consulting. In recent years Mr. Austin has provided clinical, strategic and tactical consulting services to senior management for a number of domestic and international healthcare companies, including Angeion Corporation.
From 2006 to 2010 Mr. Austin was Director of Marketing for CareFusion, a leading, global corporation serving the health care industry with products and services that help hospitals measurably improve safety and quality of care. Mr. Austin's responsibilities included overall marketing operations for respiratory diagnostic products supporting global sales in excess of $200 million annually, while coordinating product launch planning for more than 10 global markets. Prior to CareFusion Mr. Austin served as Vice President U.S. Sales and Marketing for ndd Medical Technologies, a Zurich, Switzerland-based company. Mr. Austin also served as Group Product Manager for Yorba Linda, California-based VIASYS Healthcare and Customer/Product Support and Applications Manager for SensorMedics Corporation. Mr. Austin holds a Bachelor of Science degree from Mount Marty College.
Dr. Lehman commented, "We are pleased to have an industry executive the caliber of Todd Austin join our executive team. Todd has been an invaluable contributor as a consultant for the past couple of years and we are delighted that he has agreed to join us on a full-time basis to focus his expertise and energy on achieving the strategic goals of Angeion. We look forward to his leadership as Angeion continues to work to earn its place among the leaders in the medical device industry."
Mr. Austin said, "I am honored to have been invited by Dr. Lehman to join the company's executive team and to build a 'new' Angeion. I consider Angeion to be a company with the potential to become a leader in the medical device segment, which is an opportunity I could not pass up. There is a great deal of energy, passion and commitment from every employee in this company. I am dedicated to building a business that respects that energy and commitment and will handsomely reward our loyal shareholders in the coming years."
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 names. These cardiorespiratory product lines provide solutions for disease detection, integrated care, and wellness across the entire spectrum of health whether managing chronic illness, promoting fitness, or training for the Olympics. 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
Press releases and other statements by Angeion may contain 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 on a variety of factors including: (1) national and worldwide economic and capital market conditions; (2) continuing cost-containment efforts in our hospital, clinic, and office markets; (3) we became qualified providers for several additional large group purchasing organizations in fiscal 2010 and 2011 ensuring continued access to our market and efficiently increasing our sales potential to expanded numbers of companies using these buying groups; (4) any changes in the patterns of medical reimbursement that may result from national healthcare reform; (5) our ability to successfully operate our business, including successfully converting our increasing research and development expenditures into new and improved cardiorespiratory diagnostic products and services and selling these products and services under the MedGraphics and New Leaf brand names into existing and new markets; (6) our ability to complete our software development initiatives and migrate our MedGraphics and New Leaf platforms to a next generation technology; (7) 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; (8) 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; (9) our ability to expand our international revenue through our distribution partners and our Milan, Italy representative branch office; (10) 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; (11) our ability to defend our existing intellectual property and obtain protection for intellectual property we develop in the future; (12) our ability to develop and maintain an effective system of internal controls and procedures and disclosure controls and procedures; (13) our dependence on third-party vendors and (14) the ability of new members of our senior management to make a successful transition into their new roles and for all members of senior management to ultimately develop and implement a strategic plan. These and 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, 2011.
Gregg O. Lehman, Ph.D.
Joe Dorame, Robert Blum, Joe Diaz
Lytham Partners, LLC
Chief Executive Officer and President
SOURCE Angeion Corporation