Andrew Summers Elected to Electromed Board

Electromed Inc. has elected a new independent director, Andrew Summers, to its Board of Directors. In connection with the election, Electromed has entered into a new cooperation agreement with Summers Value Partners LLC, an investment firm that beneficially owns approximately 6.1% of Electromed’s outstanding common stock. Summers has also been appointed to serve as vice chair of the Strategy and Finance Committee and a member of the Nominating and Governance Committee.
 
“We are pleased to welcome Andy Summers to Electromed’s Board of Directors. We are confident that his distinguished career in investing across the global healthcare sector will help guide Electromed’s corporate strategy,” Board Chair Lee Jones said. “We look forward to his insights as we continue to execute our multiple growth strategies and gain market share as a leader in the airway clearance space.”
 
Summers founded Summers Value Partners LLC in 2018 and serves as general partner for the Summers Value Fund LP. He has 22 years of experience investing across the global healthcare sector including more than 17 years of long/short experience. Summers started his investment career in 1998 at INVESCO Funds Group where he became co-portfolio manager of a multibillion dollar healthcare fund. In 2004, he founded Silvergate Capital Management LLC, a long/short healthcare hedge fund. He joined Janus Henderson Investors in 2008 and spent the following decade making investments across the global healthcare sector, including animal health and consumer health. Summers previously served on the board of directors of Scott’s Liquid Gold (OTC: SLGD).
 
Summers earned a bachelor’s degree in business administration from the University of Wisconsin-Whitewater and a master’s degree in finance from the University of Wisconsin-Madison. He has held the Chartered Financial Analyst (CFA) designation since 2000.

“I appreciate the constructive dialogue that we have had through the years as an Electromed shareholder, and I am excited to join the board,” Summers said. “I believe Electromed is well positioned for continued growth and value creation, and I am confident the board and management team will work to deliver strong operational execution and enhance shareholder value.”
 
Electromed Inc. manufactures, markets, and sells products that provide airway clearance therapy, including the SmartVest Airway Clearance System, to patients with compromised pulmonary function. It is headquartered in New Prague, Minn., and was founded in 1992.