06.03.2006 22:19:00
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HealthTronics Appoints Steve Hicks as Chairman; Kevin Richardson Added to the Board of Directors; Argil Wheelock, M.D., Named Chief Medical Advisor
Additionally, the Board elected Kevin A. Richardson II as aDirector. Mr. Richardson is a founder of Prides Capital, LLC andPrides Capital Partners, LLC. Mr. Richardson stated, "I am excited tobe involved as HealthTronics increases its efforts to leverage theirstrong customer relationships. This appointment, along with ourexisting ownership of over 5 million shares of HealthTronics,strengthens our commitment to HealthTronics and its potential forlong-term shareholder value."
John Q. Barnidge, interim President and CEO, stated, "We areextremely pleased to have Steve Hicks as our Chairman, and to welcomeKevin Richardson to the HealthTronics' Board. Argil Wheelock, M.D.,will remain on our board. I am also excited to have Dr. Wheelock servethe Company as its Chief Medical Advisor working closely with oururology network." Mr. Barnidge concluded, "Ken Shifrin will no longerhold the title of Vice Chairman, but remains as a Director."
The Board also formed a Strategic Planning Committee comprised ofMr. Richardson, Dr. Wheelock and Mr. Shifrin. The Committee will bechaired by Mr. Richardson and will work closely with management inevaluating the various strategic alternatives available to theCompany, both short and long-term."
About HealthTronics, Inc.
HealthTronics provides healthcare services primarily to theUrology community and manufactures and distributes medical devices.The Company also manufactures specialty vehicles used for thetransport of high-technology medical devices, broadcast &communications equipment and the Homeland Security market place. Formore information, visit www.healthtronics.com.
Statements by the Company's management in this press release thatare not strictly historical, including statements regarding plans,objective and future financial performance, are "forward-looking"statements that are made pursuant to the safe harbor provisions of thePrivate Securities Litigation Reform Act of 1995. AlthoughHealthTronics believes that the expectations reflected in suchforward-looking statements are reasonable, no assurance can be giventhat the expectations will prove to be correct. Factors that couldcause actual results to differ materially from HealthTronics'expectations include, among others, the existence of demand for andacceptance of HealthTronics' services, regulatory approvals, economicconditions, the impact of competition and pricing, financing effortsand other factors described from time to time in HealthTronics'periodic filings with the Securities and Exchange Commission.
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