ROCHESTER HILLS, Michigan, September 23, 2022–(BUSINESS WIRE)–InfuSystem Holdings, Inc. (NYSE American: INFU) (“InfuSystem” or the “Company”), a leading national provider of healthcare services, facilitates outpatient care for durable medical equipment manufacturers and healthcare providers, today announced the appointment of R. Rimmy Malhotra, a new independent director to the InfuSystem Board of Directors, effective September 20, 2022. Mr. Malhotra will serve as a director until he stands for election at InfuSystem’s next annual meeting of shareholders in May 2023.
Scott Shuda, Chairman of the InfuSystem Board of Directors, said, “We are delighted to welcome Rimmy as the new independent director to the InfuSystem Board of Directors. Rimmy first invested in the company in 2012 and has earned a reputation as a keen shareholder. by joining the board, the company will further benefit from his perspective and knowledge, particularly with respect to investments and capital allocation, as we continue to execute our long-term growth strategy . »
“I have long admired InfuSystem and believe the company has the opportunity to significantly expand its business for the benefit of all stakeholders,” Mr. Malhotra said. He continued, “Managing growth transitions is always a challenge, and it can be particularly trying for smaller public companies. I look forward to being part of InfuSystem’s governance process 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 is currently a director and vice president of HireQuest Inc., a light staffing franchisor, since 2016. Since November 2019, Mr. Malhotra has been a member of the board of directors of Optex Systems Holdings, Inc., a manufacturer of optical systems, 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 Scholar. 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 nationwide provider of healthcare services, enabling ambulatory care for durable medical equipment manufacturers and healthcare providers. INFU services are provided in a two-platform model. The core platform is Integrated Therapy Services (“ITS”), providing the last mile solution for clinic-to-home healthcare where continued treatment involves durable and complex medical equipment and services. The ITS segment includes oncology, pain management, wound care and lymphedema businesses. The second platform, Durable Medical Equipment Services (“DME Services”), supports the ITS platform and leverages a strong service orientation to win additional business from its direct paying customers. The DME Services segment includes direct payer rentals, sales of pumps and consumables, and biomedical services and repairs. Headquartered in Rochester Hills, Michigan, the company provides local, on-the-ground customer support and also operates centers of excellence in Michigan, Kansas, California, Massachusetts, Texas and Ontario, Canada.
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 relating to future shares, our share buyback program and our capital allocation strategy, our business plans, our growth initiatives, our objectives and outlook, our future operational or financial performance, our orientations and expected new business relationships and their terms (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 these words and other similar expressions, with respect 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 our growth initiatives, our ability to enter into definitive agreements for new business relationships on or off terms, 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 revenue to be collected, potential litigation, changes in third-party reimbursement processes, legislative changes, contributions from acquired businesses or new lines of business, 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, the reports s on Form 10-Q. All forward-looking statements made in this press release speak only as of the date hereof. We undertake no obligation to update 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 and Robert Blum
Lytham Partners, LLC