Minnetronix Names Phil Ankeny Chief Financial Officer

  Minnetronix Names Phil Ankeny Chief Financial Officer

Business Wire

ST. PAUL, Minn. -- March 27, 2013

Minnetronix, Inc., a medical device design, manufacturing and IP innovation
services firm, announced today that Phil Ankeny will join the company as Chief
Financial Officer beginning April 1, 2013.

Phil Ankeny, Minnetronix CFO (Photo: Minnetronix)

Phil Ankeny, Minnetronix CFO (Photo: Minnetronix)

Ankeny most recently served as CFO and interim CEO of SurModics, Inc., a
publicly held medical technology firm in Eden Prairie, Minn. Prior to
SurModics, he held positions as CFO of Internet startup Cognicity. Ankeny’s
experience also includes venture capital, having served as a partner at Sherpa
Partners; investment banking at Roberston, Stephens and Morgan Stanley; and
other management roles at Shiva and IBM.

According to Minnetronix’ CEO Rich Nazarian, “Minnetronix has experienced
substantial growth over the past five years and we are poised for much more.
Phil’s management experience and knowledge as well as his background in the
effective use of capital and capital markets will enhance our ability to take
advantage of the opportunities we have in front of us. We are very excited to
have someone of Phil’s caliber joining our leadership team and we eagerly look
forward to the insights and contributions he will make to our growing
enterprise.”

Ankeny, who earned his MBA from Harvard and his undergraduate Engineering and
Economics degrees from Dartmouth, brings over 25 years experience in finance,
IT, marketing, and management to his new position.

Ankeny stated, “I am extremely excited to join Minnetronix. The team at
Minnetronix has earned a stellar reputation by developing world-class
technology in concert with their customers. Their impressive track record and
growth trajectory are testament to their capabilities and how well they serve
their customers. I look forward to joining the outstanding team to help
navigate the exciting opportunities that lie ahead for Minnetronix.”

In addition, Minnetronix announced the promotion of Jeremy Maniak to COO.
Maniak has worked for Minnetronix for three years, most recently as VP of
Engineering and New Ventures. Prior to joining the company, he held positions
as VP of Research and Development for Leptos Biomedical and in management and
technology leadership roles at Guidant/Boston Scientific. Maniak has 15 years
experience directing medical electronics organizations.

“Minnetronix has always been an engineering technology-focused company and
Jeremy’s management savvy combined with his extremely strong technical
background make him an ideal person to help lead us forward. His intimate
knowledge of our engineering operation, medical device markets and the
innovation process is a powerful combination that we believe will be a perfect
complement to Phil’s financial and operational strengths,” said Nazarian.

About Minnetronix:

For over 15 years, Minnetronix has combined design and manufacturing, and our
own innovative IP solutions, to help customers transform ideas into commercial
success within the medical device and life science marketplaces. Our
experienced engineers and manufacturing teams incorporate custom electronic,
mechanical and software engineering into finished Class II & III devices and
systems such as cardiovascular and monitoring systems, therapeutic and
implantable devices, and diagnostic instruments, among others. Minnetronix has
led over 200 design and manufacturing projects for 125 companies ranging in
size from small start-ups to Fortune 100 companies. Minnetronix is ISO 13485
certified and FDA registered.

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Contact:

Minnetronix, Inc.
Leah Davidson, Marketing Manager, 651-251-9217
ldavidson@minnetronix.com