Board of Directors Appoints Kathleen Skarvan as Chief Executive Officer of
NEW PRAGUE, Minn. -- November 30, 2012
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 Incorporated, 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 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’sfuture 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.
Stephen H. Craney, 507-452-5109 x 216
Chairman of the Board
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