Electromed, Inc. to Consider Director Nominations from Summers Value Partners
August 13 2021 - 8:00AM
Business Wire
Electromed, Inc. (“Electromed” or the “Company”) (NYSE American:
ELMD), a leader in innovative airway clearance technologies, today
confirmed that Summers Value Partners has provided notice of its
intent to nominate four candidates to stand for election to the
Electromed Board of Directors at its Fiscal 2022 Annual Meeting of
Shareholders (the “Annual Meeting”).
Members of Electromed’s Board and management team have been
engaged in an ongoing dialogue with Summers Value Partners, and the
Board will consider these director nominees with a focus on serving
the best interests of all Electromed shareholders. With Electromed
insiders owning more than 16% of the Company’s outstanding shares,
their interests are very much aligned with shareholders.
Electromed will present the Board’s recommendation with respect
to the election of directors in the Company’s proxy statement,
which will be filed with the U.S. Securities and Exchange
Commission (“SEC”) and mailed to all shareholders eligible to vote
at the Annual Meeting, which has not yet been scheduled. Electromed
shareholders do not need to take action at this time.
About Electromed, Inc.
Electromed manufactures, markets, and sells products that
provide airway clearance therapy, including the SmartVest® Airway
Clearance System, to patients with compromised pulmonary function.
The Company is headquartered in New Prague, Minnesota and was
founded in 1992. Further information about Electromed can be found
at www.smartvest.com.
Forward Looking Statements
Certain statements in this press release constitute
forward-looking statements for purposes of the Safe Harbor
provisions under the U.S. Private Securities Litigation Reform Act
of 1995. Forward-looking statements can generally be identified by
words such as “will,” and similar expressions, but they are not the
exclusive means of identifying such statements. Forward-looking
statements cannot be guaranteed, and actual results may vary
materially due to the uncertainties and risks, known or unknown
associated with such statements. Examples of risks and
uncertainties for the Company include, but are not limited to, the
duration, extent and severity of the COVID-19 pandemic, including
its effects on our business, operations and employees as well as
its impact on our customers and distribution channels and on
economies and markets more generally; the competitive nature of our
market; changes to Medicare, Medicaid, or private insurance
reimbursement policies; changes to state and federal health care
laws; changes affecting the medical device industry; our ability to
develop new sales channels for our products such as the homecare
distributor channel; our need to maintain regulatory compliance and
to gain future regulatory approvals and clearances; new drug or
pharmaceutical discoveries; general economic and business
conditions; our ability to renew our line of credit or obtain
additional credit as necessary; our ability to protect and expand
our intellectual property portfolio; the risks associated with
expansion into international markets, as well as other factors we
may describe from time to time in the Company’s reports filed with
the Securities and Exchange Commission . 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 press release. We
undertake no obligation to update such statements in light of new
information or future events.
Additional Information and Where to Find It
Electromed will file a proxy statement and associated WHITE
proxy card in connection with the solicitation of proxies for the
Annual Meeting. The proxy statement, any other relevant documents,
and other materials filed with the SEC concerning Electromed are
(or will be, when filed) available free of charge at
http://www.sec.gov and http://investors.smartvest.com. Shareholders
should read carefully the proxy statement and any other relevant
documents that Electromed files with the SEC when they become
available before making any voting decision because they contain
important information.
Participants in the Solicitation
Electromed, its directors, and certain of its executive officers
are or may become participants in the solicitation of proxies from
Electromed shareholders in connection with the Annual Meeting.
Information regarding the names of our directors and executive
officers and their respective interests in Electromed, by security
holdings or otherwise, is set forth in the proxy statement for
Electromed’s Fiscal 2021 Annual Meeting of Shareholders, filed with
the SEC on September 29, 2020. To the extent our directors and
executive officers or their holdings of Electromed securities have
changed from the amounts disclosed in that proxy statement, to the
Company’s knowledge, such changes have been reflected on subsequent
reports filed with the SEC pursuant to Section 16(a) of the
Securities Exchange Act of 1934, as amended.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210813005059/en/
Electromed, Inc. Mike MacCourt, Chief Financial Officer (952)
758-9299 investorrelations@electromed.com
The Equity Group Inc. Kalle Ahl, CFA (212) 836-9614
kahl@equityny.com
Devin Sullivan (212) 836-9608 dsullivan@equityny.com
Electromed (AMEX:ELMD)
Historical Stock Chart
From Aug 2024 to Sep 2024
Electromed (AMEX:ELMD)
Historical Stock Chart
From Sep 2023 to Sep 2024