InfuSystem Appoints R. Rimmy Malhotra to the Board of Directors
23 Septembre 2022 - 10:05PM
Business Wire
InfuSystem Holdings, Inc. (NYSE American: INFU) (“InfuSystem” or
the “Company”), a leading national health care service provider,
facilitating outpatient care for durable medical equipment
manufacturers and health care providers, announced today the
appointment of R. Rimmy Malhotra, a new independent director to
InfuSystem’s Board of Directors, effective September 20, 2022. Mr.
Malhotra will serve as a director until he stands for election at
InfuSystem’s next Annual Shareholders meeting in May 2023.
Scott Shuda, Chairman of InfuSystem’s Board of Directors, said,
“We are pleased to welcome Rimmy as a new independent director on
InfuSystem’s Board. Rimmy first invested in the Company in 2012,
and has an earned reputation as a particularly attentive
shareholder. With his joining the Board, the Company will gain
increased benefit from his perspective and insights, particularly
regarding investments and capital allocation as we continue to
execute on our long-term growth strategy.”
“I have long admired InfuSystem, and believe the Company has
opportunity to significantly expand its business to the benefit of
all stakeholders,” said Mr. Malhotra. He continued, “Managing
through growth transitions is always a challenge, and this can be
particularly trying for small public companies. I look forward to
being part of the governance process at InfuSystem and doing my
part to help the Company achieve its goals.”
Mr. Malhotra is the Founder of The Nicoya Fund LP, a private
investment partnership. Mr. Malhotra currently serves as a Director
and Vice Chairman of HireQuest Inc., an asset light staffing
franchisor, since 2016. Since November 2019, Mr. Malhotra has been
a member of the Board of Directors of Optex Systems Holdings, Inc.,
an optical systems manufacturer, and also sits on the board of
Scotts Liquid Gold. Mr. Malhotra holds an MBA in Finance from The
Wharton School and a Master’s degree in International Relations
from the University of Pennsylvania where he is a Lauder Fellow.
Mr. Malhotra holds undergraduate degrees in Computer Science and
Economics from Johns Hopkins University.
About InfuSystem Holdings, Inc.
InfuSystem Holdings, Inc. (NYSE American: INFU), is a leading
national health care service provider, facilitating outpatient care
for durable medical equipment manufacturers and health care
providers. INFU services are provided under a two-platform model.
The lead platform is Integrated Therapy Services (“ITS”), providing
the last-mile solution for clinic-to-home healthcare where the
continuing treatment involves complex durable medical equipment and
services. The ITS segment is comprised of Oncology, Pain
Management, Wound Therapy and Lymphedema businesses. The second
platform, Durable Medical Equipment Services (“DME Services”),
supports the ITS platform and leverages strong service orientation
to win incremental business from its direct payer clients. The DME
Services segment is comprised of direct payer rentals, pump and
consumable sales, and biomedical services and repair. Headquartered
in Rochester Hills, Michigan, the Company delivers local,
field-based customer support and also operates Centers of
Excellence in Michigan, Kansas, California, Massachusetts, Texas
and Ontario, Canada.
Forward-Looking Statements
Certain statements contained in this press release are
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, such as statements
relating to future actions, our share repurchase program and
capital allocation strategy, business plans, growth initiatives,
objectives and prospects, future operating or financial
performance, guidance and expected new business relationships and
the terms thereof (including estimated potential revenue under new
or existing contracts). The words “believe,” “may,” “will,”
“estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,”
“expect,” “strategy,” “future,” “likely,” variations of such words,
and other similar expressions, as they relate to the Company, are
intended to identify forward-looking statements. Forward-looking
statements are subject to factors, risks and uncertainties that
could cause actual results to differ materially, including, but not
limited to, our ability to successfully execute on our growth
initiatives, our ability to enter into definitive agreements for
the new business relationships on expected terms or at all, our
ability to generate estimated potential revenue amounts under new
or existing contracts, the uncertain impact of the COVID-19
pandemic, our dependence on estimates of collectible revenue,
potential litigation, changes in third-party reimbursement
processes, changes in law, contributions from acquired businesses
or new business lines, products or services and other risk factors
disclosed in the Company’s most recent annual report on Form 10-K
and, to the extent applicable, quarterly reports on Form 10-Q. All
forward-looking statements made in this press release speak only as
of the date hereof. We do not undertake any obligation to update
any forward-looking statements to reflect future events or
circumstances, except as required by law.
Additional information about InfuSystem Holdings, Inc. is
available at www.infusystem.com.
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Joe Dorame, Joe Diaz & Robert Blum Lytham Partners, LLC
602-889-9700
InfuSystems (AMEX:INFU)
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