Digirad Corporation Announces Appointment of Mitchell I. Quain to its Board of Directors
January 18 2019 - 6:00AM
Digirad Corporation (NASDAQ: DRAD) announced today the appointment
of Mitchell I. Quain, 67, as a new independent director to its
Board of Directors, effective immediately.
"We are very delighted for Mitch Quain to join
the Board. His extensive business and investing experience make him
well-qualified to serve as an independent director,” said Jeff
Eberwein, Digirad’s Chairman of the Board. “Additionally, Mitch’s
collective board experience will allow him to make a significant
contribution to our new strategy of converting to a diversified
holding company structure with a shared services center. We believe
Mitch is uniquely positioned to provide guidance on this strategic
initiative and we expect him to add significant value on behalf of
all stockholders.”
Mr. Quain added, “Digirad’s growth potential is
unique and significant with its new structure and I look forward to
working with the Board and management to add substantial value for
Digirad’s stockholders. I am excited to become a shareholder given
the longer-term value creation I see going forward.”
About Mitchell I. Quain
Mr. Quain brings to the Digirad Board over 30
years of Wall Street experience in research, investment banking,
and private equity. He is currently a Senior Advisor to The Carlyle
Group, L.P., a private equity firm. He had previously held senior
management positions at One Equity Partners, ACI Capital, and ABN
Amro.
Mr. Quain is currently the Lead Director of
Jason Incorporated (NASDAQ: JASN) and Board member of
AstroNova, Inc. (NASDAQ: ALOT). He also serves as a member of the
Audit and Nominating Committees and as the Chairman of the
Compensation Committee of AstroNova. Previously, Mr. Quain served
on the Boards of RBC Bearings Incorporated, Hardinge, Inc., Xerium
Technologies, Inc., Magnetek, Inc., Tecumseh Products Company,
DeCrane Aircraft Holdings, Inc., Handy & Harman, Heico
Corporation, Mechanical Dynamics, Inc., and Titan International,
Inc. He also served as the Chairman of the Board of
Register.com.
Mr. Quain has a Bachelor of Science degree in
electrical engineering from the University of Pennsylvania and a
Master of Business Administration degree from Harvard University.
He is also a Chartered Financial Analyst.
About Digirad
Digirad delivers convenient, effective, and
efficient healthcare solutions on an as needed, when needed, and
where needed basis. Digirad’s diverse portfolio of mobile
healthcare solutions and diagnostic imaging equipment and services,
provides hospitals, physician practices, and imaging centers
through the United States access to technology and services
necessary to provide exceptional patient care in the rapidly
changing healthcare environment. For more information, please visit
www.digirad.com.
Forward-Looking Statements
This press release contains statements that are
forward-looking statements as defined within the Private Securities
Litigation Reform Act of 1995. Some of these forward-looking
statements can be identified by the use of forward-looking words
such as “believes,” “expects,” “may,” “will,” “should,” “seek,”
“approximately,” “intends,” “plans,” “estimates,” or “anticipates,”
or the negative of those words or other comparable terminology, or
in specific statements such as the Company's ability to deliver
value to customers, the ability to grow and generate positive cash
flow, the ability to execute on restructuring activities, the
ability to successfully execute acquisitions, the ability to
successfully complete the transition of Digirad into a diversified
holding company, the ability to reconstitute our Board of Directors
and potentially to continue to do so, the intention of certain
members of our Board to become shareholders of Digirad, and our
desire to maximize stockholder value. 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, reimbursement,
radiopharmaceutical shortages, 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.
For more information
contact:Jeffrey E. EberweinChairman of the Board of
Directors203-489-9501ir@digirad.com
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