This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
MADISON HEIGHTS, Mich.,
April 24, 2012 /PRNewswire/ -- InfuSystem Holdings, Inc. (NYSE Amex: INFU) (the "Company"), the leading national provider of infusion pumps and related services, today announced that it has reached an agreement with Global Undervalued Securities Master Fund, LP, Meson Capital Partners, Boston Avenue Capital and certain of their affiliates, resulting in changes to InfuSystem's Board of Directors and leadership. Together, those investors beneficially own approximately 11.4% of the Company's outstanding shares.
Under the terms of the agreement,
Ryan Morris, and
Joseph Whitters have been appointed to the InfuSystem Board of Directors, effective immediately. Current InfuSystem Directors
David Dreyer, Chairman of the Audit Committee, and
Wayne Yetter, Chairman of the Nominating and Corporate Governance Committee, will remain on the Board and continue in their current roles.
"We are optimistic about InfuSystem's prospects and believe that the Company has exciting opportunities ahead," Mr. Yetter said. "We appreciate the dialogue we have had with our stockholders and look forward to working collaboratively with the new directors to continue advancing InfuSystem's position as a significant leader in the infusion and pre-owned medical equipment markets."
Mr. Yetter continued, "We thank the outgoing directors Sean, Jean-Pierre, Pat, John and Tim for their contributions, leadership and years of service to InfuSystem. Their insight and experience have been valuable to the Company, and we wish them the best in their future endeavors."
With the changes announced today, InfuSystem's Board will be comprised of seven directors, all of whom will stand for election at InfuSystem's 2012 Annual Meeting of Stockholders. In connection with the agreement, Global Undervalued Securities Master Fund, LP, Meson Capital Partners, Boston Avenue Capital and their affiliates have all withdrawn their request to call a special meeting.