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InfuSystem Holdings, Inc. Names Ryan J. Morris Executive Chairman

MADISON HEIGHTS, Mich., April 26, 2012 /PRNewswire/ -- InfuSystem Holdings, Inc. (NYSE Amex: INFU), the leading national provider of infusion pumps and related services for the healthcare industry, today announced that its Board of Directors has named Director Ryan J. Morris, 27, Executive Chairman.  Morris led a shareholder activist movement that began in November of 2011 when the stock was trading at approximately $1.20 per share.  It culminated in a major overhaul of the Company's governance earlier this week as former Chairman and Chief Executive Officer Sean McDevitt and four other directors resigned. 

The board also named Charles Gillman, Portfolio Manager of Nadel and Gussman, LLC, as Lead Independent Director.  He and Morris joined the InfuSystem board this week, along with other new members John Climaco, Joseph Whitters and Dilip Singh.  Singh was also named Interim CEO.  Two directors, David Dreyer and Wayne Yetter, will continue their roles on the board.

The Company said that its Annual Meeting of Shareholders, originally scheduled to be held on May 11, 2012 has been rescheduled for May 25.  InfuSystem stockholders of record at the close of business on April 30, 2012 will be entitled to receive notice about and vote at the meeting.  Further details regarding the meeting will be included in the Company's proxy statement, which InfuSystem expects to mail to stockholders shortly.

"Our prime mandate is to create value for all shareholders," says new Executive Chairman Morris.  "Further, we believe that our personal economic fates should continue to be entirely tied to performance.  Accordingly, new board members will be compensated solely in stock options.

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