The Board of Directors of InfuSystem Holdings, Inc.
(“InfuSystem” or the “Company”), the leading national provider of infusion
pumps and related services for the U.S. healthcare industry, has formally
ended its assessment of potential strategic alternatives initiated by
InfuSystem's prior management in conjunction with the investment banking firm,
Houlihan Lokey. The Board stated that it believes the Company's current
strategic plan offers greater value.
Making the announcement, Executive Chairman Ryan Morris said the Board
unanimously agreed that, given current business indicators and the certainty
stemming from the Company's recent financing arrangement, InfuSystem
shareholders would be best served by remaining an independent public company.
“The Company,” he added, “intends to focus on delivering consistent growth and
profitable results in its core business as well as executing strategic
initiatives designed to leverage its existing, strong client base.”
The Company anticipates that final costs associated with the strategic
alternatives program its Board evaluated will be reflected in the fourth
quarter 2012 results.
The Company also announced it has initiated a search process to hire a
permanent Chief Executive Officer. The Board's Executive Search Committee,
headed by Lead Independent Director John Climaco, will work closely with
RobinsonButler, a top-tier retained executive search firm serving the life
science industry, to conduct a thorough, transparent and expeditious search
process. Interim CEO Dilip Singh will step down upon completion of the search
assignment.
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