Digirad Names Two Veteran Healthcare Executives to Board
May 20 2009 - 6:00AM
PR Newswire (US)
Steven C. Mendell and Lloyd H. Malchow Join Digirad Board of
Directors POWAY, Calif., May 20 /PRNewswire-FirstCall/ -- Digirad
Corporation (NASDAQ:DRAD) today announced that it has named veteran
healthcare executives Steven C. Mendell and Lloyd H. Malchow to its
Board of Directors, effective immediately. The addition of Messrs.
Mendell and Malchow expands the board to a total of seven members.
"Steve and Lloyd both have the experience and business acumen that
will make them immediate contributors to our board and to the
strategic advancement of Digirad," said R. King Nelson, Digirad's
Chairman of the Board of Directors. "Our stated goal is to rapidly
return Digirad to a platform of consistent profitability and
positive cash flow that will allow us to move to the next stage of
growth and strategic development. Steve and Lloyd have the kinds of
broad-based expertise in healthcare, operations and business
development that will help guide us in this process. We welcome
them to our board and look forward to working closely with them."
Mr. Mendell, 67, has more than 30 years of experience in the
management of healthcare-related businesses. From 1999 to 2007 he
worked for San Diego-based LMA North America, Inc., and was most
recently its President and Chief Executive Officer. LMA, a publicly
traded company in Singapore, is a global leader in the manufacture
and distribution of medical devices related to air flow and
anesthesia needed during surgery and life-saving interventions.
Prior to LMA, Mr. Mendell was President and Chief Executive Officer
of San Diego-based Prizm Pharmaceuticals. Mr. Mendell was a member
of the Board of Directors of San Diego-based Gensia Inc., a
biotechnology company that later merged with Sicor Inc. to become
Gensia Sicor (and was later acquired by Teva Pharmaceuticals). He
has also been a member of the Board of Directors of the
Biotechnology Industry Organization and represented the
biotechnology industry on the NASDAQ Corporate Advisory Board. Mr.
Mendell is also a former Inc. magazine Entrepreneur of the Year. He
has a bachelor's degree from UC Santa Barbara and a graduate degree
in international management from The Thunderbird School of
International Management. Since 1999, Mr. Malchow, 55, has been
President and Chief Executive Officer of Aliso Viejo, CA-based
SenoRx (NASDAQ:SENO), which develops, manufactures and markets
minimally invasive devices for the diagnosis and treatment of
breast cancer. From 1993 to 1999, Mr. Malchow held various
positions, including Chief Operating Officer, President and Chief
Executive Officer, at Foster City, CA-based Penederm, a publicly
traded drug delivery company acquired by Pittsburgh, PA-based Mylan
Laboratories in 1998. Mr. Malchow has also held executive positions
at Allergan and American Hospital Supply. At Allergan he held
several positions including Corporate Operating Committee Member,
Vice President of Sales, Ophthalmology Vice President and General
Manager of Skin Care. He currently serves on the Board of Directors
of San Clemente, CA-based Rox Medical, a privately-held medical
device company that develops products for the treatment of
respiratory disease. Mr. Malchow has a bachelor's degree from
Carroll College, a master's degree from the University of Maryland
and an MBA from Pepperdine University. About Digirad Corporation
Digirad is a leading provider of diagnostic imaging products, and
personnel and equipment leasing services. For more information,
please visit http://www.digirad.com/. Digirad(R), Digirad Imaging
Solutions(R), and Cardius(R) are registered trademarks of Digirad
Corporation. Forward-Looking Statements This press release contains
statements that are forward-looking statements as defined within
the Private Securities Litigation Reform Act of 1995. These include
statements regarding the efficacy of Digirad's centers of influence
model, the status of the negotiation of the sale or closure of
underperforming hub locations, and the ability to achieve positive
cash flow and profitability, drive technology progress and improve
services utilization to grow market share. These forward-looking
statements are subject to risks and uncertainties that could cause
actual results to differ materially from the statements made,
including the risks associated with changes in business conditions,
technology, customers' business conditions, work force, suppliers,
business prospects, economic outlook, operational policy or
structure, acceptance and use of Digirad's camera systems and
services, reliability, recalls, and other risks detailed in
Digirad's filings with the U.S. Securities and Exchange Commission,
including Annual Report on Form 10-K, Quarterly Reports on Form
10-Q, Current Reports on Form 8-K and other reports. Readers are
cautioned to not place undue reliance on these forward-looking
statements, which speak only as of the date hereof. All
forward-looking statements are qualified in their entirety by this
cautionary statement, and Digirad undertakes no obligation to
revise or update the forward-looking statements contained herein.
Investor Contact: Company Contact: -----------------
---------------- Matt Clawson Todd Clyde, CEO Allen & Caron
858-726-1600 949-474-4300 DATASOURCE: Digirad Corporation CONTACT:
Investor Contact, Matt Clawson of Allen & Caron,
+1-949-474-4300, , for Digirad Corporation; or Company Contact,
Todd Clyde, CEO of Digirad Corporation, +1-858-726-1600, Web Site:
http://www.digirad.com/
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