**Exhibit 99.1**

 

Angeion Corporation

350Oak Grove Parkway

St.Paul, MN 55127 USA

Telephone:(651) 484-4874

Facsimile:(651) 484-4826

 

** **

**FOR IMMEDIATE RELEASE**

Contact:  Rodney A. Young, President and CEO, (651) 484-4874

 Bill Bartkowski,MeritViewPartners, (612) 605-8616

 

***Angeion Corporation Reports 10% First Quarter Revenue Growth***

***as*****Customer Demand Increases Across Product Lines**

 

***Company Plans NewCardiorespiratory Diagnostic Product Launches;***

***New Leaf Health and FitnessProducts Contributing to Growth***

 

**SAINT PAUL, Minn. (March 11,2005) —**Angeion Corporation (Nasdaq SC: ANGN) today reportedresults for its first quarter ended January 31, 2005.  Total revenue increased by 10.4 percent to$5.0 million for the three months ended January 31, 2005 compared to $4.6million for the same period in 2004.  Thenet loss for the three months ended January 31, 2005 was $711,000, or$0.20 per share, compared to a net loss of $730,000, or $0.20 per share, forthe three months ended January 31, 2004. The Company continues to invest in sales and marketing programs tosupport the growth in its cardiorespiratory diagnostic products and New Leafhealth and fitness products.

 

“Customer demand in the UnitedStates and international markets for our cardiorespiratory diagnostic systemscontinues to grow,” commented RodneyA. Young, President and Chief Executive Officer.  “In an effort to further fuel customerdemand and expand our market share, we are scheduled to launch three newcardiorespiratory diagnostic products by the end of second quarter 2005.  Based on the new product preview with ourEuropean and Latin American distribution partners, we anticipate that ourinternational and domestic customers will enthusiastically welcome these new products.”

 

Young also noted recent progress with theCompany’s New Leaf Active Metabolic Training technology.  “Our New Leaf health &fitness products are noticeably contributing to overall revenue growth.  Weare excited about our recently announced agreement with one of the nation’sinnovative leaders in the fitness and wellness industry.  Their adoption, together with the growingconsumer acceptance of our metabolic training programs, is a strongendorsement of our technology,” said Young.

 

“We are encouraged that our New Leaf ActiveMetabolic Training system is steadily becoming the scientific foundation forleading edge organizations to develop successful programs.  Health clubs and other healthcare relatedorganizations are looking toward our New Leaf products and programs to helpmembers, employees, patients and athletes improve their fitness, health, weightloss or enhance athletic performance,” concluded Young.

 

—**More —**

 

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The Company is continuing its effort to resolve issues related to theindemnification claim for some of the Implantable Cardioverter Defibrillatorsformerly manufactured by the Company. The lawsuit is currently in the discovery stage and the Company expects that any potentiallegal proceedings in this matter will not occur until the spring of2006.

 

A detailed discussion of theCompany’s financial position and results of operations is contained in theCompany’s Form 10-KSB for the year ended October 31, 2004 and Form 10-QSBfor the quarter ended January 31, 2005.

 

Foundedin 1986, Angeion Corporation acquired Medical Graphics (www.medgraphics.com) inDecember 1999.  Medical Graphicsdevelops, manufactures and markets non-invasive cardiorespiratory diagnosticsystems for the management and improvement of cardiorespiratory health.  The Company has also introduced a line of healthand fitness products, many of which are derived from Medical Graphics’cardiorespiratory product technologies. These products, marketed under the New Leaf Health and Fitness brand (www.newleaf-online.com),help consumers effectively manage their weight and improve their fitness.  They are marketed to the consumer primarilythrough personal training studios, health and fitness clubs and other exercisefacilities.  For more information aboutAngeion, visit www.angeion-ir.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 Medical Graphics business including its ability todevelop, improve and update its cardiorespiratory diagnostic products, (ii) theCompany’s ability to successfully introduce its New Leaf Health &Fitness products including its New Leaf Weight Loss Program, (iii) theCompany’s ability to achieve and maintain a level of revenue that enables it toattain profitability, (iv) the Company’s ability to successfully defenditself from product liability claims related to its Medical Graphics and NewLeaf products and claims associated with its prior cardiac stimulationproducts, (v) the Company’s ability to successfully resolve all issues inconnection with ELA Medical’s claim for reimbursement and the Company’s productliability insurance coverage; (vi) the Company’s ability to protect itsintellectual property, and (vii) the Company’s dependence on third-partyvendors.  Additional information withrespect to the risks and uncertainties faced by the Company may be found in,and the prior discussion is qualified in its entirety by, the other riskfactors that are described from time to time in Angeion’s Securities andExchange Commission reports, including but not limited to the Annual Report on Form 10-KSBfor the year ended October 31, 2004, and subsequently filed reports.

 

**–Financials follow –**

 

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Angeion Corporation andSubsidiaries

Condensed UnauditedConsolidated Financial Statements

(In thousands, except pershare data)

 
| ** **                                     | ** ** | **Three Months  Ended  January 31,** | ** ** |
|------------------------------------------------|------------|-------------------------------------------|------------|
| ** **                                     | ** ** | **2005**                                  | ** ** | **2004** | ** ** |
| Consolidated Statements of Operations          |       |                                      |       |   |   |
| Revenue                                        |       | $                                         | 5,030      |   | $ | 4,555 |   |
|                                           |       |                                      |       |   |   |
| Net loss                                       |       | (711                                      | )          | (730 | ) |
|                                           |       |                                      |       |   |   |
| Net loss per share – basic and diluted    |       | $                                         | (0.20      | ) | $ | (0.20 | ) |
|                                           |       |                                      |       |   |   |
| ** **                                     | ** ** | **January 31,  2005**                | ** ** | **October 31,  2004** | ** ** |
| Consolidated Balance Sheets                    |       |                                      |       |   |   |
| Cash                                           |       | $                                         | 2,269      |   | $ | 2,390 |   |
| Other current assets                           |       | 6,643                                     |       | 7,398 |   |
| Current assets of discontinued operations      |       | 700                                       |       | 700 |   |
| Equipment and intangible assets                |       | 7,268                                     |       | 7,542 |   |
|                                           |       | $                                         | 16,880     |   | $ | 18,030 |   |
|                                           |       |                                      |       |   |   |
| Current liabilities                            |       | $                                         | 3,682      |   | $ | 4,106 |   |
| Current liabilities of discontinued operations |       | 1,070                                     |       | 1,092 |   |
| Shareholders’ equity                      |       | 12,128                                    |       | 12,832 |   |
|                                           |       | $                                         | 16,880     |   | $ | 18,030 |   |

 

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