|[November 29, 2012]
Board of Directors Appoints Kathleen Skarvan as Chief Executive Officer of Electromed, Inc.
NEW PRAGUE, Minn. --(Business Wire)--
The Board of Directors of Electromed, Inc. announced today that Kathleen
Skarvan has been appointed as the Company's Chief Executive Officer,
effective December 1, 2012. Ms. Skarvan succeeds Dr. James J. Cassidy,
who has served as the Company's interim CEO since May 2012. Dr. Cassidy
will continue to serve as Chief Operating Officer of the Company.
"The Board of Directors is excited by the appointment of Kathleen
Skarvan as the Company's new CEO, and believes she brings a strategic
vision to the Company that will increase shareholder value over the long
term," said Stephen H. Craney, Chairman of the Board of Directors. "Ms.
Skarvan brings a wealth of operational and executive experience to the
position, including heading a public company division with annual
revenues over $300 million. The Board of Directors looks forward to
working with Ms. Skarvan on implementing our goal of increasing revenues
and continuing Electromed's status as a leader in the airway clearance
therapy market. The Board would also like to thank Dr. Cassidy for his
leadership as interim CEO and looks forward to continuing to work with
him in his role as COO."
Ms. Skarvan has served as Vice President of Operations at OEM
Fabricators since November 2011. Prior to her position with OEM
Fabricators, Ms. Skarvan served in various roles at Hutchinson
Technology Incororated, most recently as the President of the Disk
Drive Components Division from April 2007 until March 2011. Ms. Skarvan
also served as a Senior Vice President of Hutchinson Technology (News - Alert)
Incorporated from December 2010 to March 2011, and as Vice President of
Sales & Marketing of the Disk Drive Components Division from October
2003 until April 2007.
About Electromed, Inc.
Electromed, Inc., founded in 1992 and headquartered in New Prague,
Minnesota, manufactures, markets, and sells products that provide airway
clearance therapy, including the SmartVest® Airway Clearance
System and related products, to patients with compromised pulmonary
function. Further information about the Company can be found at www.Electromed.com.
Certain statements found in this release may constitute
forward-looking statements as defined in the U.S. Private Securities
Litigation Reform Act of 1995. Forward-looking statements reflect the
speaker's current views with respect to future events and financial
performance and include any statement that does not directly relate to a
current or historical fact. The forward-looking statements in this
release include those relating to the Company's future growth. Forward-looking
statements and the Company's expectations regarding gross margins, and
can generally otherwise be identified by the words "believe," "expect,"
"anticipate" or "intend" or similar words. Forward-looking
statements cannot be guaranteed and actual results may vary materially
due to the uncertainties and risks, known and unknown, associated with
such statements. Examples of risks and uncertainties for Electromed
include, but are not limited to, the impact of emerging and existing
competitors, the effectiveness of our sales and marketing initiatives,
changes to reimbursement programs, as well as other factors described
from time to time in our reports to the Securities and Exchange
Commission (including our Annual Report on Form 10-K). Investors should
not consider any list of such factors to be an exhaustive statement of
all of the risks, uncertainties or potentially inaccurate assumptions
investors should take into account when making investment decisions.
Shareholders and other readers should not place undue reliance on
"forward-looking statements," as such statements speak only as of the
date of this release.
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