Angeion Corporation (NASDAQ: ANGN) announced that it has been awarded a three-year contract with Broadlane – the leading end-to-end cost-management partner for healthcare providers – for its MedGraphics® cardiorespiratory diagnostic systems, including related supplies and service. The agreement, effective July 1, 2010, will offer Broadlane members and partners access to MedGraphics’ 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), at their earliest stages to achieve successful outcomes. Broadlane serves more than 1,100 acute care hospitals and 50,000 non-acute care facilities. Their customers will now be able to leverage MedGraphics’ full clinical product line which includes:
Simple spirometry in clinics and physician offices;
Complete pulmonary function testing in hospital laboratories;
Cardiopulmonary exercise assessment in rehabilitation and sports medicine centers; and
Nutritional evaluations in critical care units.
“We are very excited that Broadlane has selected us to supply their members with cardiorespiratory diagnostic systems for the next three years,” said Rodney A. Young, Angeion’s President and Chief Executive Officer. “Broadlane is a highly regarded purchasing organization and this will allow their extensive base of healthcare providers to access our innovative technologies and services more easily while offering them a greater array of options.” MedGraphics’ technologies provide clinical professionals with essential information to non-invasively 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 Broadlane Broadlane is dedicated to making quality healthcare affordable. Through proprietary technology, industry-leading sourcing, and innovative services, Broadlane’s staff of experts offers solutions to healthcare providers that dramatically improve operating margins. Broadlane’s offerings include end-to-end supply chain management, clinical and financial analytics, purchasing portfolio management, workforce management, and a complete suite of consulting services that address lean process transformation, supply chain best practices, capital equipment lifecycle, and clinical utilization. Broadlane serves more than 1,100 acute care hospitals and 50,000 non-acute care facilities. The company is headquartered in Dallas with offices in Cincinnati, Detroit, Houston, Nashville, New York City and Oakland. For more information, visit broadlane.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.