**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 and CEO, (651) 484-4874 |
|----------|-----------------------------------------------------|
|     | Dale  Johnson, CFO, (651) 484-4874                  |

 

 

***Angeion CorporationReports 22% Second Quarter Revenue Growth***

* *

***Customers Respond Positively Toward NewCardiorespiratory Diagnostic Products***

 

***New Leaf Health & Fitness ProductsContributing to Growth***

 

 

**SAINT PAUL, MN (June 14, 2005)**—****Angeion Corporation (NASDAQ SC: ANGN) today reported results for itssecond quarter ended April 30, 2005. Total revenue increased by 21.7 percent to $6.0 million for the threemonths ended April 30, 2005 compared to $5.0 million for the same periodin 2004.  The net loss for the threemonths ended April 30, 2005 was $238,000, or $0.07 per share, compared toa net loss of $879,000, or $0.24 per share, for the three months ended April 30,2004.  For the six months ended April 30,total revenue increased 16.3 percent to $11.1 million in 2005 from $9.5 millionin 2004.  The net loss for the six monthsended April 30, 2005 was $949,000, or $0.26 per share, compared to a netloss of $1.6 million, or $0.45 per share, for the six months ended April 30,2004.  The net losses for the three andsix months ended April 30, 2004 included a $350,000 loss from discontinuedoperations.  Overall increases inoperating expenses reflect planned investments in sales and marketing programsto support the growth in all of the Company’s products.

 

“Customer response has been veryencouraging for the three new cardiorespiratory products introduced during thesecond quarter of 2005.  Also noteworthyis the acceptance we’re receiving from our Asian, European and South Americanmarkets where we’ve launched market specific products to meet internationalperformance and pricing requirements,” commented Rodney A. Young, President and Chief Executive Officer.  “Additionally, we experienced a positiveimpact on our revenue as a result of innovative sales and marketing programsthat resulted in new sales opportunities from non - traditional marketsegments.”

 

“OurNew Leaf health and fitness products continued to gain sales momentum in thesecond quarter as a result of increased penetration into some of the nation’sleading health and fitness clubs.  Marketawareness of the value that the New Leaf Active Metabolic TrainingTM systemprovides in delivering a science-based, individualized metabolic trainingprogram for consumers and fitness professionals is growing.  Evidence of this awareness is the increasednumber of international and domestic sales inquiries we have received over thepast six months,” said Young.

 

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“Duringthe second quarter, we expanded our sales, account management, and fieldtechnical teams to support the growth we are experiencing in ourcardiorespiratory diagnostic and New Leaf system sales.  We are continuing our focus on developingcardiorespiratory diagnostic and New Leaf products and programs that increaseour hospital and physician office, as well as consumer, value.  We will continue to drive expansion ofAngeion’s presence into broader market segments within the healthcare andhealth & fitness industries,” concluded Young.

 

Effortsto resolve issues related to the insurance indemnification claim forimplantable cardiac defibrillators the Company formerly manufacturedcontinue.  The Company anticipates thatthe trial associated with this matter would not occur before the spring of2006.

 

A detailed discussion of the Company’sfinancial position and results of operations is contained in the Company’s Form 10-KSBfor the year ended October 31, 2004 and Forms 10-QSB for thequarters ended January 31, 2005 and April 30, 2005.

 

Founded in 1986, Angeion Corporation acquired Medical Graphics (www.medgraphics.com)in December 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 ofhealth and 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.com.

 

The discussionabove contains forward-looking statements within the meaning of the PrivateSecurities Litigation Reform Act of 1995. These statements by their nature involve substantial risks anduncertainties.  Actual results may differmaterially depending on a variety of factors, including (i) the Company’sability to successfully develop, improve and update its cardiorespiratorydiagnostic products, (ii) the Company’s ability to successfully introduceits New Leaf health and fitness products including its New Leaf weight lossprogram, (iii) the Company’s ability to achieve and maintain a level ofrevenue that enables it to attain profitability, (iv) the Company’sability to successfully defend itself from product liability claims related toits Medical Graphics’ products and claims associated with its prior cardiacstimulation products, (v) the Company’s ability to successfully resolve allissues in connection with ELA Medical’s claim for reimbursement and the Company’sproduct liability insurance coverage; (vi) the Company’s ability toprotect its intellectual property, and (vii) the Company’s dependence onthird-party vendors.  Additionalinformation with respect to the risks and uncertainties faced by the Companymay be found in, and the prior discussion is qualified in its entirety by, theother risk factors that are described from time to time in Angeion’s Securitiesand Exchange Commission reports, including but not limited to the Annual Reporton Form 10-KSB for the year ended October 31, 2004, andsubsequently filed reports.

 

**– Financials follow –**

 

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AngeionCorporation and Subsidiaries

CondensedUnaudited Consolidated Financial Statements

(Inthousands, except per share data)

 
| ** **                                  | ** ** | **Three Months Ended  April 30,** | ** ** | **Six Months Ended  April 30,** | ** ** |
|---------------------------------------------|------------|----------------------------------------|------------|--------------------------------------|------------|
| ** **                                  | ** ** | **2005**                               | ** ** | **2004**                             | ** ** | **2005** | ** ** | **2004** | ** ** |
| Consolidated Statements of Operations       |       |                                   |       |                                 |       |   |   |   |   |
| Revenue                                     |       | $                                      | 6,032      |                                 | $          | 4,956 |   | $ | 11,062 |   | $ | 9,511 |   |
|                                        |       |                                   |       |                                 |       |   |   |   |   |
| Gross margin                                |       | 2,988                                  |       | 2,303                                |       | 5,321 |   | 4,361 |   |
| Operating expenses                          |       | 3,234                                  |       | 2,835                                |       | 6,286 |   | 5,628 |   |
| Interest income                             |       | 8                                      |       | 3                                    |       | 16 |   | 8 |   |
|                                        |       |                                   |       |                                 |       |   |   |   |   |
| Loss from continuing operations             |       | (238                                   | )          | (529                                 | )          | (949 | ) | (1,259 | ) |
| Loss from discontinued operations           |       | —                                 |       | (350                                 | )          | — |   | (350 | ) |
| Net loss                                    |       | (238                                   | )          | (879                                 | )          | (949 | ) | (1,609 | ) |
|                                        |       |                                   |       |                                 |       |   |   |   |   |
| Net loss per share – basic and diluted |       | $                                      | (0.07      | )                                    | $          | (0.24 | ) | $ | (0.26 | ) | $ | (0.45 | ) |

 
| ** **                                     | ** ** | **April 30,  2005** | ** ** | **October 31,  2004** | ** ** |
|------------------------------------------------|------------|--------------------------|------------|----------------------------|------------|
| Consolidated Balance Sheets                    |       |                     |       |                       |       |
| Cash                                           |       | $                        | 2,060      |                       | $          | 2,390 |   |
| Other current assets                           |       | 7,323                    |       | 7,398                      |       |
| Current assets of discontinued operations      |       | 700                      |       | 700                        |       |
| Equipment and intangible assets                |       | 7,077                    |       | 7,542                      |       |
|                                           |       | $                        | 17,160     |                       | $          | 18,030 |   |
|                                           |       |                     |       |                       |       |
| Current liabilities                            |       | $                        | 4,281      |                       | $          | 4,106 |   |
| Current liabilities of discontinued operations |       | 989                      |       | 1,092                      |       |
| Shareholders’ equity                      |       | 11,890                   |       | 12,832                     |       |
|                                           |       | $                        | 17,160     |                       | $          | 18,030 |   |

 

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