Healthcare Industry News: CareFusion
News Release - May 1, 2012
Angeion Appoints Matthew S. Margolies as Executive Vice President - Global SalesSAINT PAUL, Minn., May 1, 2012 -- (Healthcare Sales & Marketing Network) -- Angeion Corporation (ANGN) today announced it has appointed Matthew S. Margolies as Executive Vice President – Global Sales effective May 7, 2012. Mr. Margolies will be responsible for leading all aspects of the company's worldwide sales organization and delivering sales results to achieve operational and financial goals consistent with Angeion's corporate strategy. Mr. Margolies will be succeeding James Gaul, senior vice president – global sales, who has served Angeion Corporation for 24 years in various sales and marketing positions. Mr. Gaul will actively participate in working with Mr. Margolies during the leadership transition.
With a career in the respiratory diagnostics industry spanning 20 years, Mr. Margolies comes to Angeion from Cardinal Health, where he served as Senior Vice President of Sales and Marketing of the company's Nuclear Pharmacy team. Prior to his most recent role, Mr. Margolies worked with CardioNet as Senior Vice President of Sales and Marketing generating substantial growth in CardioNet's Cardiac Telemetry business. Prior to CardioNet, Mr. Margolies served for four years in a number of positions of increasing responsibility with VIASYS Healthcare, where he ultimately became Division President for the Respiratory Diagnostics group leading the company's Worldwide Respiratory Diagnostics team. In his role with VIASYS he was responsible for the growth in the Respiratory Diagnostics space that was a component of the $1.6 billion acquisition of VIASYS by Cardinal Health (now CareFusion). From 1993-2004, Mr. Margolies held Sales and Marketing leadership roles with Covidien Health / Mallinckrodt Imaging. Mr. Margolies holds a bachelor's degree in Business Administration/Marketing from Ramapo College of New Jersey.
Gregg Lehman, Ph.D., president and chief executive officer of Angeion, said, "We are pleased to have Matt Margolies, a proven sales executive, join Angeion at this important point in its history. Matt has demonstrated a record of high performance and success at a number of the industry's leading respiratory diagnostic companies. His extensive experience and background in developing and leading successful sales teams within the healthcare industry will be a great asset for Angeion. I look forward to Matt's new perspectives and skilled leadership as we strive to grow Angeion in the coming years."
Dr. Lehman continued, "I would like to thank Jim Gaul for the many years that he has devoted to Angeion and his success in establishing our MedGraphics brand as an industry leader. We wish him well in his future endeavors."
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) remaining as a qualified provider for large group purchasing organizations, thereby 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.
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