**Exhibit 99.1**
| Angeion Corporation       |  |
|---------------------------|--|
| 350 Oak Grove Parkway     |
| St. Paul, MN 55127 USA    |
| Telephone: (651) 484-4874 |
| Facsimile: (651) 484-4826 |

**FOR IMMEDIATERELEASE**
| Contact: | Rodney A. Young, President and Chief Executive  Officer, (651) 484-4874 |
|----------|-------------------------------------------------------------------------|
|     | Dale H. Johnson, Chief Financial Officer, (651)  484-4874               |

 

***Angeion Corporation Reports RecordRevenue and Profit in Third Quarter***

***4th Consecutive Profitable Quarter &***

***9th Consecutive Quarter of Double-Digit Year-Over-YearRevenue Growth***

SAINT PAUL, Minn. (September 11, 2006) — Angeion Corporation (NASDAQ:ANGN) today reported results for its third quarter ended July 31, 2006.  Notable third quarter accomplishmentsincluded the following:

 

·                  Recordquarterly revenue, totaling $8.8 million

·                  45.2percent revenue increase over the third quarter of 2005

·                  Double-digityear-over-year revenue growth for the ninth consecutive quarter

·                  Netincome of $655,000 versus a loss of $268,000 a year ago

·                  Fourthconsecutive quarter of profitability

###### Angeionreported net income of $655,000, or $0.17 per diluted share, on revenue of $8.8million for the third quarter of fiscal 2006. This compares with a net loss of $268,000, or $0.07 per diluted share,on revenue of $6.1 million in the third quarter of 2005.

For the nine months endedJuly 31, 2006, total revenue increased 34 percent to $22.9 million from $17.1million for the same period in 2005.  Netincome for the 2006 nine-month period was $1,214,000, or $0.32 per dilutedshare, compared with a net loss of $1,217,000, or $0.34 per diluted share, forthe same period in 2005.  Net income forthe nine-month period of 2006 included a $268,000 gain from discontinuedoperations, while the net loss for the same period in 2005 included a $191,000loss from discontinued operations.

—**More —**

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“We are pleased with this year’s progress, notably our record top andbottom-line growth,” said Rodney A. Young, Chief Executive Officer andPresident.  “Through our focused salesand marketing efforts in both domestic and international markets, we’ve beenable to accomplish the following:

 

·      Increasedmarket share through penetration of our cardiorespiratory diagnostic systems inhospitals, clinics, and physician offices;

·      Achievedsignificant sales growth of our cardiorespiratory diagnostic systems toclinical research partners;

·      Establisheda year-to-date record number of pulmonary function systems manufactured andshipped;

·      Continuedour growth in the number of health and fitness partners offering our New Leafmetabolism training programs and products; and

·      Generateda record number of new consumers participating in the New Leaf Active MetabolicTrainingTM programs.

 

###### “Businessfrom one of our clinical research partners contributed nearly 38 percent ofthird quarter revenue.  We are veryencouraged that our business development initiatives are motivatingindustry-leading pharmaceutical and medical device manufacturers conductingclinical trials to choose our MedGraphics cardiorespiratory diagnostic systemsto ensure their products’ safety, consistency and efficacy.  We have strengthened our sales and technicalsupport to further execute our business development strategy of increasingglobal presence and sales in this rapidly growing market,” commented Young. “Duringthe third quarter, we drove MedGraphics sales in the hospital, clinic, andphysician office markets and grew New Leaf’s presence among leading health andfitness distribution partners demonstrating Angeion’s ability to improve thequality of life across the continuum of health,” added Young.

###### **Looking Ahead**

“Our primary goals for2006 have been to drive year-over-year revenue growth and sustainprofitability.  With three solid quartersbehind us, the majority of our 2006 goals are well within reach.  We anticipate revenue generated throughclinical research studies for safety and efficacy of drugs and devices willcontinue to be an important contributor to our overall revenue growth for thenext few quarters.  Going forward, ourcentral focus is to maintain the sales momentum of our MedGraphicscardiorespiratory products in the medical and clinical research markets andcontinue expansion of our New Leaf health and fitness distribution networkwhile increasing participation by consumers in our growing portfolio ofproducts and services.  Considering ouraging population, the complications associated with being overweight or obese, anda general need for healthier and more active lifestyles, we believe Angeion’sproprietary diagnostic technologies, programs and services are well-positionedfor continued growth,” concluded Young.

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**AboutAngeion Corporation**

Founded in 1986, Angeion Corporation acquired Medical GraphicsCorporation in December 1999.  MedicalGraphics develops, manufactures and markets non-invasive cardiorespiratorydiagnostic systems that are sold under the MedGraphics (www.medgraphics.com)and New Leaf (www.newleaffitness.com) brand and trade names.  These cardiorespiratory diagnostic systemshave a wide range of applications in healthcare as well as health andfitness.  The Company’s products are soldinternationally through distributors and in the United States through a directsales force that targets heart and lung specialists located in hospitals, university-basedmedical centers, medical clinics and physicians’ offices, pharmaceuticalcompanies, medical device manufacturers, clinical research organizations,health and fitness clubs, personal training studios, and other exercisefacilities.  For more information aboutAngeion, visit www.angeion.com.

The discussion above contains forward-lookingstatements within the meaning of the Private Securities Litigation Reform Actof 1995.  These statements by theirnature involve substantial risks and uncertainties.  Actual results may differ materiallydepending on a variety of factors, including (i) the Company’s ability tosuccessfully operate its business including its ability to develop, improve,and update its cardiorespiratory diagnostic products, (ii) the Company’sability to effectively manufacture and ship its products in anticipatedrequired quantities to meet customer demands, (iii) the Company’s ability tosuccessfully defend itself from product liability claims related to its cardiorespiratorydiagnostic products and claims associated with its prior cardiac stimulationproducts, (iv) the Company’s ability to protect its intellectual property, and(v) the Company’s dependence on third-party vendors.  Additional information with respect to therisks and uncertainties faced by the Company may be found in, and any priordiscussion is qualified in its entirety by, the other risk factors that aredescribed from time to time in Angeion’s Securities and Exchange Commissionreports, including but not limited to the Annual Report on Form 10-KSB for theyear ended October 31, 2005, and subsequently filed reports.

**— Financials follow —**

 

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**Angeion Corporation andSubsidiaries**

**Unaudited Condensed ConsolidatedFinancial Statements**

(Inthousands, except per share data)

 

**Consolidated Statements of Operations**

 
| ** **                                  | ** ** | **Three Months Ended  July 31,** | ** ** | **Nine Months Ended  July 31,** | ** ** |
|---------------------------------------------|------------|--------------------------------------------|------------|-------------------------------------------|------------|
| ** **                                  | ** ** | **2006**                                   | ** ** | **2005**                                  | ** ** | **2006** | ** ** | **2005** | ** ** |
| Revenue                                     |       | $                                          | 8,797      |                                      | $          | 6,058 |   | $ | 22,942 |   | $ | 17,120 |   |
| Cost of goods sold                          |       | 4,450                                      |       | 3,057                                     |       | 11,482 |   | 8,798 |   |
| Gross margin                                |       | 4,347                                      |       | 3,001                                     |       | 11,460 |   | 8,322 |   |
|                                        |       |                                       |       |                                      |       |   |   |   |   |
| Operating expenses:                         |       |                                       |       |                                      |       |   |   |   |   |
| Selling and  marketing                      |       | 1,936                                      |       | 1,744                                     |       | 5,633 |   | 5,309 |   |
| General and  administrative                 |       | 954                                        |       | 659                                       |       | 2,669 |   | 1,937 |   |
| Research and  development                   |       | 603                                        |       | 482                                       |       | 1,624 |   | 1,519 |   |
| Amortization of  intangibles                |       | 203                                        |       | 203                                       |       | 609 |   | 609 |   |
|                                        |       | 3,696                                      |       | 3,088                                     |       | 10,535 |   | 9,374 |   |
| Operating income (loss)                     |       | 651                                        |       | (87                                       | )          | 925 |   | (1,052 | ) |
| Interest income                             |       | 22                                         |       | 10                                        |       | 50 |   | 26 |   |
| Income (loss) before  income taxes          |       | 673                                        |       | (77                                       | )          | 975 |   | (1,026 | ) |
| Provision for  income taxes                 |       | 18                                         |       | —                                    |       | 29 |   | — |   |
|                                        |       |                                       |       |                                      |       |   |   |   |   |
| Income (loss) from  continuing operations   |       | 655                                        |       | (77                                       | )          | 946 |   | (1,026 | ) |
| Gain (loss) from  discontinued operations   |       | —                                     |       | (191                                      | )          | 268 |   | (191 | ) |
| Net income (loss)                           |       | $                                          | 655        |                                      | $          | (268 | ) | $ | 1,214 |   | $ | (1,217 | ) |
|                                        |       |                                       |       |                                      |       |   |   |   |   |
| Income (loss) per share  –basic        |       |                                       |       |                                      |       |   |   |   |   |
| Continuing  operations                      |       | $                                          | 0.18       |                                      | $          | (0.02 | ) | $ | 0.26 |   | $ | (0.29 | ) |
| Discontinued  operations                    |       | —                                     |       | (0.05                                     | )          | 0.08 |   | (0.05 | ) |
| Net income  (loss)                          |       | $                                          | 0.18       |                                      | $          | (0.07 | ) | $ | 0.34 |   | $ | (0.34 | ) |
|                                        |       |                                       |       |                                      |       |   |   |   |   |
| Income (loss) per share  –diluted      |       |                                       |       |                                      |       |   |   |   |   |
| Continuing  operations                      |       | $                                          | 0.17       |                                      | $          | (0.02 | ) | $ | 0.25 |   | $ | (0.29 | ) |
| Discontinued  operations                    |       | —                                     |       | (0.05                                     | )          | 0.07 |   | (0.05 | ) |
| Net income  (loss)                          |       | $                                          | 0.17       |                                      | $          | (0.07 | ) | $ | 0.32 |   | $ | (0.34 | ) |
|                                        |       |                                       |       |                                      |       |   |   |   |   |
| Weighted average common  shares outstanding |       |                                       |       |                                      |       |   |   |   |   |
| Basic                                       |       | 3,626                                      |       | 3,607                                     |       | 3,619 |   | 3,605 |   |
| Diluted                                     |       | 3,789                                      |       | 3,607                                     |       | 3,755 |   | 3,605 |   |

 

**Consolidated Balance Sheets**

 
| ** **                                   | ** ** | **July 31,  2006** | ** ** | **October 31,  2005** | ** ** |
|----------------------------------------------|------------|-------------------------|------------|----------------------------|------------|
| Cash                                         |       | $                       | 2,461      |                       | $          | 1,072 |   |
| Cash restricted for  discontinued operations |       | —                  |       | 400                        |       |
| Other current assets                         |       | 11,874                  |       | 8,535                      |       |
| Equipment, intangible  assets and goodwill   |       | 6,323                   |       | 6,861                      |       |
|                                         |       | $                       | 20,658     |                       | $          | 16,868 |   |
|                                         |       |                    |       |                       |       |
| Current liabilities                          |       | $                       | 6,142      |                       | $          | 4,279 |   |
| Long-term liabilities                        |       | 1,131                   |       | 656                        |       |
| Shareholders’ equity                    |       | 13,385                  |       | 11,933                     |       |
|                                         |       | $                       | 20,658     |                       | $          | 16,868 |   |

 

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