Angeion Corporation Awarded National Contract By Amerinet
Angeion Corporation (NASDAQ: ANGN) announced that it has been awarded a three-year contract with Amerinet – a leading national healthcare group purchasing organization – for its MedGraphics® cardiorespiratory diagnostic systems. The agreement is effective July 1, 2010. It offers Amerinet members and partners access to MedGraphic’s systems that diagnose and monitor therapy in a wide spectrum of heart and lung disorders, such as congestive heart failure, asthma and other forms of chronic obstructive pulmonary disease (COPD).
Amerinet has more than 2,500 acute care hospitals and 25,000 alternate care members in its network of healthcare providers. With MedGraphic’s full clinical product line, Amerinet customers will be able to: offer simple spirometry—or breath measurement—in clinics and physician offices; complete pulmonary function testing in hospital laboratories; assess cardiopulmonary exercise in rehabilitation and sports medicine centers; and provide nutritional evaluations in critical care units.
“We are pleased that Amerinet, one of the nation’s largest group purchasing organizations, recognizes the diagnostic value that our MedGraphic’s systems can provide to the patients and physicians in their network,” said Rodney A. Young, Angeion’s President and Chief Executive Officer. “We share Amerinet’s goal of providing high quality care and reducing costs across the entire continuum of health.”
MedGraphic’s technologies provide clinical professionals with essential information to noninvasively assess and successfully manage their patients’ care. These cardiorespiratory diagnostic products are used in leading medical centers throughout the United States and in more than 75 countries around the world.About Amerinet As a leading national healthcare group purchasing organization, Amerinet strategically partners with acute and alternate care providers to reduce costs and improve quality through its performance solutions. Built on a foundation of data, savings and trust, and supported by a team of clinical and supply chain experts, Amerinet enriches healthcare delivery for its members and the communities they serve. To learn more about the Amerinet difference, visit www.amerinet-gpo.com. 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 health care 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 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, clinics, and office market; (3) 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 brand names into existing and new markets; (4) 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; (5) 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; (6) our ability to effectively manufacture and ship products in required quantities to meet customer demands; (7) our ability to expand our international revenue through our distribution partners and our Milan, Italy representative branch office; (8) 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; (9) our ability to defend our intellectual property; (10) our ability to develop and maintain an effective system of internal controls and procedures and disclosure controls and procedures; and (11) our dependence on third-party vendors. 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, 2009.
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