Electromed, Inc. Chairman and CEO Robert D. Hansen Announces His Retirement after 20 Years; Board Appoints Dr. James J. Cassidy as Interim Chief Executive Officer
Robert D. Hansen, Founder, CEO, and Chairman of the Board of Electromed, Inc., today announced his retirement after twenty years. In May of 1992, Hansen and his brother Craig Hansen first began work on the SmartVest® Airway Clearance System, an innovative High Frequency Chest Wall Oscillation (HFCWO) device in Minneapolis, Minnesota. Their first United States product sale occurred in 2001, with the first international sale in 2006, followed by initial sales in Asia in 2008. Hansen has led the company through successive generations of the product. By June 30, 2011, the Company had grown to over $19 million in sales and was employing more than 90 employees across the United States. The Company also engages on a contract services basis more than 300 certified Respiratory Therapists and Nurses who educate patients on the use of the SmartVest®.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.