**Exhibit 99.1**

 
| Angeion Corporation

350 Oak Grove Parkway

St. Paul, MN 55127 USA

Telephone: (651) 484-4874

Facsimile: (651) 484-4826 |  |
|--------------------------------------------------------------------------------------------------------------------------|--|

 

**FOR IMMEDIATE RELEASE**

 

Contact:                                                   Rodney A. Young, President andChief Executive Officer, (651) 484-4874

Dale H. Johnson, ChiefFinancial Officer, (651) 484-4874

 

***AngeionCorporation Reports First Quarter Profit and***

***RecordQuarterly Revenues***

 

***Release of New Leaf EnergySmartTM nutritionplanning and tracking systemfirmly establishes the Company in the online market for weight management, health enhancement, and athletic performance***

 

**SAINT PAUL, Minn. (March 6,2006) —**AngeionCorporation (NASDAQ NM: ANGN) today reported results for its first quarterended January 31, 2006. Key first quarter events included the following:

 

•                  Total revenues were a record $6.9million—up 37.8 percent from the first quarter of 2005

 

•                  The Company achieved double-digityear-over-year revenue growth for the seventh quarter in a row

 

•                  Gross margin improved to 51.2percent up from 46.4 percent in the first quarter of 2005

 

•                  Net income of $176,000, versus anet loss of $711,000 a year ago, represented the Company’s second consecutivequarter of profitability

 

###### **Results for the first quarter 2006compared to the first quarter 2005**

Angeion Corporation reported net income of $176,000, or $0.05 perdiluted share, on total revenues of $6,933,000. This compares with a net lossof $711,000, or $0.20 per diluted share, on total revenues of $5,030,000 in thefirst quarter of 2005. Net income for the first quarter of 2006 included a$4,000 loss from discontinued operations.

 

“In keeping with our intense focus on growth and profitability, we arevery pleased that the first quarter gave us our seventh consecutive year-over-yeardouble-digit quarterly revenue increase,” commented Rodney A. Young, Presidentand Chief Executive Officer. “More importantly, we had bottom-lineprofitability for the second consecutive quarter, something not achieved since1999. We continue to see the results of our field sales and marketing effortsto

 

**-more-**

 

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further penetrate both the hospital and physician office market withour MedGraphics cardiorespiratory products, and the health and fitness market throughour New Leaf Active Metabolic TrainingTM programs. The January launch ofour online New Leaf EnergySmart nutrition planning and tracking system advantageouslypositions us in the important weight-control and sports performance markets.”

 

The Company noted that, as previously announced, in February theCompany received a favorable Court ruling in the ongoing legal action againstthe Medmarc Casualty Insurance Company for reimbursement of the settlement costspaid to ELA Medical in June 2005. The Court ruled that Angeion wasentitled to recover from Medmarc the $1.4 million paid to settle the ELA claim,subject to potential exclusion of certain costs. The Court also determined thatthe Company is entitled to recover from Medmarc costs and fees in the amount of$49,000 incurred in defending ELA’s claim.

 

###### **MedGraphics and New Leaf productscontinue market penetration**

Angeion summarized other product and market developments in the quarteras follows:

 

•                  Customer acceptance of the fivenew MedGraphics cardiorespiratory diagnostic products introduced last year,including the Ultima Series, continues to grow steadily;

 

•                  Purchases of New Leaf consumerproducts and programs were over 200 percent higher than the first quarter of 2005,illustrating the dramatic growth in the number of New Leaf Active Metabolic Trainingparticipants;

 

•                  New Leaf launched its EnergySmartpersonalized online meal planning, tracking and calorie management systemdesigned to help consumers from weight conscious adults and children torecreational and elite athletes properly measure and “fuel” their metabolism.

 

###### **Looking ahead**

“We are off to a good start in our 2006 fiscal year,” Young stated. “Althoughwe may see some variations in the amount of revenue increases that we achievefrom quarter to quarter, we have been energized by our progress and arecontinuing to focus on the goals of another year of double-digit year-over-yeargrowth and our drive toward achieving and sustaining profitability.”

 

**About Angeion Corporation**

Founded in1986, Angeion Corporation acquired Medical Graphics www.medgraphics.com in December 1999.Medical Graphics develops, manufactures and markets non-invasive diagnosticsystems for the management and improvement of cardiorespiratory health. Theseproducts are sold internationally through distributors and in the United Statesthrough a direct sales force that targets customers located in hospitals,university-based medical centers, clinics and physician offices of heart andlung specialists. The Company also sells health and fitness products, many ofwhich are derived from Medical Graphics’ cardiorespiratory product technologies.These products, marketed under the New Leaf health and fitness brand www.newleaffitness.com,help consumers effectively manage their weight and improve their fitness. Theyare marketed to the consumer primarily through personal training studios,health and fitness clubs and other exercise facilities. For more informationabout Angeion, visit www.angeion.com.

 

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The discussion abovecontains forward-looking statements within the meaning of the PrivateSecurities Litigation Reform Act of 1995. These statements by their natureinvolve substantial risks and uncertainties. Actual results may differmaterially depending on a variety of factors, including (i) the Company’sability to successfully operate its Medical Graphics business including, itsability to develop, improve and update its cardiorespiratory diagnosticproducts, (ii) the Company’s ability to successfully sell its New Leafhealth & fitness products, (iii) the Company’s ability tosuccessfully defend itself from product liability claims related to its MedicalGraphics’ products and claims associated with its prior cardiac stimulationproducts, (iv) the Company’s ability to successfully resolve all issues inconnection with the lawsuit with Medmarc over the Company’s ICD productliability insurance coverage; (v) the Company’s ability to protect itsintellectual property, and (vi) the Company’s dependence on third-partyvendors. Additional information with respect to the risks and uncertaintiesfaced by the Company may be found in, and any prior discussion isqualified in its entirety by, the other risk factors that are described fromtime to time in Angeion’s Securities and Exchange Commission reports, includingbut not limited to the Annual Report on Form 10-KSB for the year ended October 31,2005, and subsequently filed reports.

 

**– financialsfollow –**

 

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**AngeionCorporation and Subsidiaries**

**UnauditedCondensed Consolidated Financial Statements**

(Inthousands, except per share data)

 
| ** **                                 | ** ** | **Three Months Ended  January 31,** | ** ** |
|--------------------------------------------|------------|----------------------------------------------------|------------|
| **Consolidated Statements of  Operations** | ** ** | **2006**                                           | ** ** | **2005** | ** ** |
| Revenue                                    |       | $                                                  | 6,933      |   | $ | 5,030 |   |
| Cost of goods sold                         |       | 3,385                                              |       | 2,697 |   |
| Gross margin                               |       | 3,548                                              |       | 2,333 |   |
|                                       |       |                                               |       |   |   |
| Operating expenses:                        |       |                                               |       |   |   |
| Selling and marketing                      |       | 1,923                                              |       | 1,707 |   |
| General and administrative                 |       | 773                                                |       | 664 |   |
| Research and development                   |       | 472                                                |       | 478 |   |
| Amortization of intangibles                |       | 203                                                |       | 203 |   |
|                                       |       | 3,371                                              |       | 3,052 |   |
| Operating income (loss)                    |       | 177                                                |       | (719 | ) |
| Interest income                            |       | 9                                                  |       | 8 |   |
| Income (loss) before income taxes          |       | 186                                                |       | (711 | ) |
| Provision for income taxes                 |       | 6                                                  |       | — |   |
|                                       |       |                                               |       |   |   |
| Income (loss) from continuing operations   |       | 180                                                |       | (711 | ) |
| Loss from discontinued operations          |       | (4                                                 | )          | — |   |
| Net income (loss)                          |       | $                                                  | 176        |   | $ | (711 | ) |
|                                       |       |                                               |       |   |   |
| Income (loss) per share –basic        |       |                                               |       |   |   |
| Continuing operations                      |       | $                                                  | 0.05       |   | $ | (0.20 | ) |
| Discontinued operations                    |       | —                                             |       | — |   |
| Net income (loss)                          |       | $                                                  | 0.05       |   | $ | (0.20 | ) |
|                                       |       |                                               |       |   |   |
| Income (loss) per share –diluted      |       |                                               |       |   |   |
| Continuing operations                      |       | $                                                  | 0.05       |   | $ | (0.20 | ) |
| Discontinued operations                    |       | —                                             |       | — |   |
| Net income (loss)                          |       | $                                                  | 0.05       |   | $ | (0.20 | ) |
|                                       |       |                                               |       |   |   |
| Weighted average common shares outstanding |       |                                               |       |   |   |
| Basic                                      |       | 3,611                                              |       | 3,603 |   |
| Diluted                                    |       | 3,635                                              |       | 3,603 |   |

 
| **Consolidated Balance Sheets**                | ** ** | **January 31,  2006** | ** ** | **October 31,  2005** | ** ** |
|------------------------------------------------|------------|----------------------------|------------|----------------------------|------------|
| Cash                                           |       | $                          | 1,160      |                       | $          | 1,072 |   |
| Cash restricted for discontinued operations    |       | 200                        |       | 400                        |       |
| Other current assets                           |       | 8,342                      |       | 7,835                      |       |
| Current assets of discontinued operations      |       | 696                        |       | 700                        |       |
| Equipment, intangible assets and goodwill      |       | 6,630                      |       | 6,861                      |       |
|                                           |       | $                          | 17,028     |                       | $          | 16,868 |   |
|                                           |       |                       |       |                       |       |
| Current liabilities                            |       | $                          | 3,875      |                       | $          | 3,762 |   |
| Current liabilities of discontinued operations |       | 213                        |       | 517                        |       |
| Long-term liabilities                          |       | 766                        |       | 656                        |       |
| Shareholders’ equity                      |       | 12,174                     |       | 11,933                     |       |
|                                           |       | $                          | 17,028     |                       | $          | 16,868 |   |

 

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