Electromed Also Enters into New Cooperation Agreement with Summers Benefit Companions and Expands Board to Eight Customers
Mr. Summers to serve as Vice Chair of the Finance and Strategy Committee
NEW PRAGUE, Minn.–(Small business WIRE)–Electromed, Inc. (“Electromed”) (NYSE American: ELMD), a chief in modern airway clearance systems, nowadays introduced that it has elected a new unbiased director, Andrew Summers, to its Board of Administrators, helpful July 25, 2022. In connection with the election, Electromed has entered into a new cooperation agreement with Summers Value Companions LLC (“Summers Benefit Partners”), an investment business that beneficially owns approximately 6.1% of Electromed’s superb prevalent stock. Mr. Summers has also been appointed to serve as the Vice Chair of the Method and Finance Committee and a member of the Nominating and Governance Committee.
“We are happy to welcome Andy Summers to Electromed’s Board of Directors. We are confident that his distinguished vocation in investing throughout the world healthcare sector will assist tutorial Electromed’s company system,” stated Lee Jones, Chair of the Board. “We appear ahead to his insights as we proceed to execute our several advancement methods and achieve marketplace share as a chief in the airway clearance room.”
Mr. Summers stated, “I respect the constructive dialogue that we have had by way of the decades as an Electromed shareholder, and I am enthusiastic to join the Board. I imagine that Electromed is effectively positioned for ongoing growth and benefit development, and I am confident that the Board and administration group will function to provide robust operational execution and boost shareholder benefit.”
About Andrew Summers
Andrew Summers launched Summers Benefit Companions LLC in 2018 and serves as Common Lover for the Summers Worth Fund LP. He has 22 many years of encounter investing throughout the worldwide healthcare sector which includes more than 17 a long time of long/short expertise. Mr. Summers started out his financial investment vocation in 1998 at INVESCO Money Team where by he grew to become co-portfolio supervisor of a multibillion dollar healthcare fund. In 2004, he launched Silvergate Money Administration LLC, a prolonged/small health care hedge fund. He joined Janus Henderson Buyers in 2008 and put in the adhering to ten years building investments throughout the world health care sector, including animal health and purchaser health and fitness. Mr. Summers previously served on the board of directors of Scott’s Liquid Gold (OTC: SLGD).
Andrew gained a bachelor’s degree in business administration from the College of Wisconsin-Whitewater and a master’s degree in finance from the College of Wisconsin-Madison. Andrew has held the Chartered Economic Analyst (CFA) designation because 2000.
About Electromed, Inc.
Electromed, Inc. manufactures, marketplaces, and sells products that provide airway clearance therapy, together with the SmartVest® Airway Clearance Procedure, to clients with compromised pulmonary perform. It is headquartered in New Prague, Minnesota, and was founded in 1992. Even more data about Electromed can be located at www.smartvest.com.
Forward Hunting Statements
Particular statements in this push release represent forward-seeking statements as described in the U.S. Non-public Securities Litigation Reform Act of 1995. Ahead-searching statements can generally be recognized by words these as “anticipate,” “believe,” “estimate,” “expect,” “future,” “intend,” “may,” “plan” “potential,” “should,” “will,” and identical expressions, such as the negative of these conditions, but they are not the exclusive suggests of pinpointing this kind of statements. Ahead-wanting statements are not able to be guaranteed, and true outcomes may well change materially because of to the uncertainties and challenges, regarded or not known linked with these statements. Examples of dangers and uncertainties for Electromed consist of, but are not minimal to, the length, extent and severity of the COVID-19 pandemic, which includes its effects on our company, operations and workforce as perfectly as its impact on our buyers and distribution channels and on economies and marketplaces much more usually the aggressive mother nature of our current market improvements to Medicare, Medicaid, or non-public insurance reimbursement policies adjustments to point out and federal wellness treatment laws changes influencing the clinical device field our ability to produce new sales channels for our merchandise these as the homecare distributor channel our need to sustain regulatory compliance and to obtain long term regulatory approvals and clearances new drug or pharmaceutical discoveries basic financial and business enterprise situations our means to renew our line of credit history or receive extra credit score as essential our capacity to safeguard and increase our intellectual assets portfolio the threats involved with enlargement into international markets the hazards affiliated with cyberattacks, information breaches, personal computer viruses and other very similar safety threats, as nicely as other components we may perhaps explain from time to time in Electromed’s experiences submitted with the Securities and Exchange Fee (like Electromed’s most modern Annual Report on Variety 10-K, as amended from time to time, and subsequent Quarterly Studies on Form 10-Q and Present Reviews on Variety 8-K). Buyers should not look at any list of this sort of factors to be an exhaustive assertion of all the dangers, uncertainties or potentially inaccurate assumptions traders should get into account when earning expense decisions. Shareholders and other viewers should really not location undue reliance on “forward-searching statements,” as these kinds of statements communicate only as of the date of this push launch. We undertake no obligation to update them in mild of new facts or future gatherings.
More Data and Where by to Come across It
Electromed will file a proxy assertion and linked WHITE proxy card in connection with the solicitation of proxies for the Annual Conference. The proxy statement, any other relevant documents, and other materials submitted with the SEC regarding Electromed are (or will be, when submitted) available free of charge of demand at http://www.sec.gov and http://investors.smartvest.com. Shareholders need to read thoroughly the proxy assertion and any other appropriate paperwork that Electromed data files with the SEC when they turn into obtainable prior to producing any voting final decision simply because they incorporate critical information and facts.