Analogic Appoints Joseph Whitters to Board of Directors
October 13 2017 - 05:03PM
Analogic Corporation (Nasdaq:ALOG), enabling the world’s medical
imaging and aviation security technology, today announced the
appointment of Joseph Whitters to the company’s Board of Directors,
effective immediately. Mr. Whitters joins the Analogic Board with
significant experience in healthcare, finance and strategic
transactions. With Mr. Whitters’ appointment, the Analogic Board
has been expanded to seven directors, six of whom are independent,
including Mr. Whitters.
Bernard Bailey, chairman of the Analogic Board, commented, “We
are pleased to appoint Joe to the Analogic Board and believe his
significant healthcare industry experience, both as an executive
and director, will be valuable to the company. As part of our focus
on maximizing stockholder value, we are continuing to actively
pursue the sale of the company. Joe’s deep understanding of our
industry, strong financial skills, and experience in the sale of
public companies, will be valuable to this work.”
Mr. Whitters added, “Having spent most of my career in the
healthcare industry, I understand the importance of Analogic’s
advanced imaging and guidance technologies and appreciate the value
it delivers to many companies in the space. I look forward to
lending my expertise to the actions the Board and management have
undertaken to optimize performance and deliver value to both
Analogic stockholders and its customers.”
Analogic noted that the appointment of Mr. Whitters resulted
from ongoing and constructive conversations members of the Board
and management had with Voce Capital Management LLC (“Voce”), an
Analogic stockholder, regarding the company’s strategic plans and
the Board’s composition. As part of a Cooperation Agreement that
Analogic entered into with Voce in connection with Mr. Whitters’
appointment as an independent director, Voce has agreed to support
the Analogic Board’s nominees at the company’s 2018 Annual Meeting
of Stockholders, which is scheduled to be held on December 1,
2017.
Joseph Whitters
Mr. Whitters is currently a consultant to Frazier Healthcare
Partners, a leading provider of growth and venture capital to
healthcare companies. He has more than three decades of experience
serving as a senior executive or public company director for
companies in the healthcare industry. He currently serves on the
Boards of PRGX Global, Inc. and InfuSystem Holdings Inc. Previous
industry related Board memberships include, among others, his
service at Air Methods Corp., Mentor Corp. (where he served as
chairman), Omnicell Inc., Zonare Medical Systems. Inc. and numerous
other public and private healthcare companies. Before his role at
Frazier, Mr. Whitters held various finance positions of increasing
responsibility at First Health, a managed care organization that he
helped take public while serving as chief financial officer and
which was acquired by Coventry Health Plans in 2005. Prior to that,
he was controller at United Healthcare Corp. He is a CPA (inactive)
and began his career in public accounting with Peat Marwick.
Forward-Looking Statements
Any statements about future expectations, plans, and prospects
for the Company, including statements containing the words
"believes," "anticipates," "plans," "expects," and similar
expressions, constitute forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Actual results may differ materially from those indicated by such
forward-looking statements as a result of various important
factors, including risks relating to product development and
commercialization, limited demand for the Company's products,
limited number of customers, risks associated with competition,
uncertainties associated with regulatory agency approvals,
competitive pricing pressures, downturns in the economy, the risk
of potential intellectual property litigation, acquisition related
risks, risks associated with the ability of the company to
successfully complete its current review of strategic alternatives
and other factors discussed in our most recent quarterly and annual
reports filed with the Securities and Exchange Commission. In
addition, the forward-looking statements included in this press
release represent the Company's views as of the date of this
document. While the Company anticipates that subsequent events and
developments will cause the Company's views to change, the Company
specifically disclaims any obligation to update these
forward-looking statements. These forward-looking statements should
not be relied upon as representing the Company's views as of any
later date.
Analogic – Celebrating 50 Years of Imaging
Innovation
Analogic (Nasdaq:ALOG) provides leading-edge healthcare and
security technology solutions to advance the practice of medicine
and save lives. We are recognized around the world for advanced
imaging and real-time guidance technologies used for disease
diagnosis and treatment as well as for automated threat detection.
Our market-leading ultrasound systems, led by our flagship BK
Ultrasound brand, used in procedure-driven markets such as urology,
surgery, and point-of-care, are sold to clinical practitioners
around the world. Our advanced imaging technologies are also used
in computed tomography (CT), magnetic resonance imaging (MRI), and
digital mammography systems, as well as automated threat detection
systems for aviation security. Analogic is headquartered just north
of Boston, Massachusetts. For more information, visit
www.analogic.com.
Analogic and the globe logo are registered trademarks of
Analogic Corporation.
For Further Information:
Investor Contact:Mark NamaroffSr. Director of
Investor Relations and Corporate Communications (978)
326-4058investorrelations@analogic.com
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