Digirad Names Two Veteran Healthcare Executives to Board
Steven C. Mendell and Lloyd H. Malchow Join Digirad Board of Directors
POWAY, Calif., May 20 /PRNewswire-FirstCall/ -- Digirad Corporation (Nasdaq:
DRAD) today announced that it has named veteran healthcare executives Steven
C. Mendell and Lloyd H. Malchow to its Board of Directors, effective
immediately. The addition of Messrs. Mendell and Malchow expands the board to
a total of seven members.
"Steve and Lloyd both have the experience and business acumen that will make
them immediate contributors to our board and to the strategic advancement of
Digirad," said R. King Nelson, Digirad's Chairman of the Board of Directors.
"Our stated goal is to rapidly return Digirad to a platform of consistent
profitability and positive cash flow that will allow us to move to the next
stage of growth and strategic development. Steve and Lloyd have the kinds of
broad-based expertise in healthcare, operations and business development that
will help guide us in this process. We welcome them to our board and look
forward to working closely with them."
Mr. Mendell, 67, has more than 30 years of experience in the management of
healthcare-related businesses. From 1999 to 2007 he worked for San Diego-based
LMA North America, Inc., and was most recently its President and Chief
Executive Officer. LMA, a publicly traded company in Singapore, is a global
leader in the manufacture and distribution of medical devices related to air
flow and anesthesia needed during surgery and life-saving interventions. Prior
to LMA, Mr. Mendell was President and Chief Executive Officer of San
Diego-based Prizm Pharmaceuticals.
Mr. Mendell was a member of the Board of Directors of San Diego-based Gensia
Inc., a biotechnology company that later merged with Sicor Inc. to become
Gensia Sicor (and was later acquired by Teva Pharmaceuticals). He has also
been a member of the Board of Directors of the Biotechnology Industry
Organization and represented the biotechnology industry on the NASDAQ
Corporate Advisory Board. Mr. Mendell is also a former Inc. magazine
Entrepreneur of the Year. He has a bachelor's degree from UC Santa Barbara and
a graduate degree in international management from The Thunderbird School of
International Management.
Since 1999, Mr. Malchow, 55, has been President and Chief Executive Officer of
Aliso Viejo, CA-based SenoRx (Nasdaq: SENO), which develops, manufactures and
markets minimally invasive devices for the diagnosis and treatment of breast
cancer. From 1993 to 1999, Mr. Malchow held various positions, including Chief
Operating Officer, President and Chief Executive Officer, at Foster City,
CA-based Penederm, a publicly traded drug delivery company acquired by
Pittsburgh, PA-based Mylan Laboratories in 1998.
Mr. Malchow has also held executive positions at Allergan and American
Hospital Supply. At Allergan he held several positions including Corporate
Operating Committee Member, Vice President of Sales, Ophthalmology Vice
President and General Manager of Skin Care. He currently serves on the Board
of Directors of San Clemente, CA-based Rox Medical, a privately-held medical
device company that develops products for the treatment of respiratory
disease.
Mr. Malchow has a bachelor's degree from Carroll College, a master's degree
from the University of Maryland and an MBA from Pepperdine University.
About Digirad Corporation
Digirad is a leading provider of diagnostic imaging products, and personnel
and equipment leasing services. For more information, please visit
www.digirad.com. Digirad(R), Digirad Imaging Solutions(R), and Cardius(R) are
registered trademarks of Digirad Corporation.
Forward-Looking Statements
This press release contains statements that are forward-looking statements as
defined within the Private Securities Litigation Reform Act of 1995. These
include statements regarding the efficacy of Digirad's centers of influence
model, the status of the negotiation of the sale or closure of underperforming
hub locations, and the ability to achieve positive cash flow and
profitability, drive technology progress and improve services utilization to
grow market share. These forward-looking statements are subject to risks and
uncertainties that could cause actual results to differ materially from the
statements made, including the risks associated with changes in business
conditions, technology, customers' business conditions, work force, suppliers,
business prospects, economic outlook, operational policy or structure,
acceptance and use of Digirad's camera systems and services, reliability,
recalls, and other risks detailed in Digirad's filings with the U.S.
Securities and Exchange Commission, including Annual Report on Form 10-K,
Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other reports.
Readers are cautioned to not place undue reliance on these forward-looking
statements, which speak only as of the date hereof. All forward-looking
statements are qualified in their entirety by this cautionary statement, and
Digirad undertakes no obligation to revise or update the forward-looking
statements contained herein.
Investor Contact: Company Contact:
----------------- ----------------
Matt Clawson Todd Clyde, CEO
Allen & Caron 858-726-1600
949-474-4300 ir@digirad.com
matt@allencaron.com
SOURCE Digirad Corporation
Investor Contact, Matt Clawson of Allen & Caron, +1-949-474-4300,
matt@allencaron.com, for Digirad Corporation; or Company Contact, Todd Clyde,
CEO of Digirad Corporation, +1-858-726-1600, ir@digirad.com
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