**Exhibit99.1**

  

| 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 Chief Executive Officer, (651) 484-4874 |
|----------|-------------------------------------------------------------------------|
|     | Dale H. Johnson, Chief  Financial Officer, (651) 484-4874               |

 

**Angeion CorporationReports Record Quarterly Revenues**

**And Profitable SecondQuarter Results**

 

*8th Consecutive Quarter OfDouble-Digit Year-Over-Year Revenue Growth;*

*3rd Consecutive Quarter OfBottom Line Profitability*

 

 

**SAINT PAUL,Minn. (June 12, 2006) —**Angeion Corporation (Nasdaq:ANGN) today reported results for its second quarter ended April 30, 2006.  Notable second quarter accomplishments includedthe following:

 

•              Recordrevenues, totaling $7.2 million

•              19.6percent revenue growth compared to the second quarter of 2005

•              Double-digityear-over-year revenue growth for the eighth consecutive quarter

•              Netincome of $383,000, versus a loss of $238,000 a year ago

•              Thirdconsecutive quarter of profitability

 

###### **Results for the secondquarter 2006 compared to the second quarter 2005**

Angeion Corporation reportednet income of $383,000, or $0.10 per diluted share, on total revenues of $7.2million.  This compares with a net lossof $238,000, or $0.07 per diluted share, on total revenues of $6.0 million inthe second quarter of 2005.  Net incomefor the second quarter of 2006 included a $272,000 gain from discontinuedoperations.

 

For the six months endedApril 30, 2006, total revenue increased 27.9 percent to $14.1 million from$11.1 million for the same period in 2005. Net income for the six months ended April 30, 2006, was $559,000, or$0.15 per diluted share, compared to a net loss of $949,000, or $0.26 per dilutedshare, for the same period in 2005.  Netincome for the six months ended April 30, 2006, included a $268,000 gain fromdiscontinued operations.

 

“We are pleased that our focusedsales and marketing initiatives successfully drove our revenue growth andfueled improved profitability in the second quarter,” commented Rodney A. Young,President and Chief Executive Officer.  “Ourprimary emphasis is on gaining market share

**—****more****—**

 

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through new productintroductions, creative sales and marketing campaigns, as well as unsurpassed technicalsupport.  Our cardiorespiratory diagnosticsbusiness for the hospital and physician office markets sustained its momentumresulting in notable growth, particularly in our international markets.  The level of consumer participation in NewLeaf’s Active Metabolic TrainingTM for the health and fitness club market issignificantly outpacing last year’s number of client assessments,” continuedYoung.

 

“In addition, our newest marketexpansions, the clinical research market that leverages our pulmonary functiondiagnostic technology to ensure the safety and efficacy of select new pharmaceuticalsand devices, along with the weight management and meal planning market, servedby our New Leaf EnergySmartTM online programs, have already had an important impacton both revenue and our bottom line,” according to Young.

 

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

“We have made excellentprogress on many fronts in the first half of fiscal 2006.  We are energized by the growth in revenues andcontinued profitability.  Going forwardwe will maintain focus on our primary 2006 goals of driving year-over-yeargrowth and sustained profitability.  To continueto achieve these goals, we must continue to implement additional creative MedGraphicsmarketing programs, maintain our focused selling efforts in hospitals and  physicians’ offices, expand our network of NewLeaf health and fitness distribution centers, and increase the number ofclinical research studies we support,” Young concluded.

 

**AboutAngeion Corporation**

Founded in 1986, Angeion Corporationacquired Medical Graphics www.medgraphics.com in December 1999.  Medical Graphics develops, manufactures andmarkets non-invasive diagnostic systems for the management and improvement ofcardiorespiratory health.  These productsare sold internationally through distributors and in the United States througha direct sales force that targets heart and lung specialists located inhospitals, university-based medical centers, clinics and physicians’ offices.  The Company also sells health and fitnessproducts, many of which are derived from Medical Graphics’ cardiorespiratoryproduct 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.  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 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)the Company’s ability to successfully sell its New Leaf health and fitness products,(iii) the Company’s ability to successfully defend itself from productliability claims related to its Medical Graphics’ products and claimsassociated with its prior cardiac stimulation products, (iv) the Company’sability to protect its intellectual property, and (v) the Company’s dependenceon third-party vendors.  Additionalinformation with respect to the risks and uncertainties faced by the Companymay be found in, and any 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, 2005, and subsequently filedreports.

 

**— financials follow —**

 

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| **Angeion Corporation and Subsidiaries**                   |
|------------------------------------------------------------|
| **Unaudited Condensed Consolidated Financial  Statements** |
| (In thousands, except per share data)                      |
| ** **                                                 | ** ** | ** ** | ** ** | ** ** |   |
| ** **                                                 | ** ** | **Three Months Ended** | ** ** | **Six Months Ended** |   |
| ** **                                                 | ** ** | **April 30,** | ** ** | **April 30,** |   |
| **Consolidated Statements of  Operations**                 | ** ** | **2006** | ** ** | **2005** | ** ** | **2006** | ** ** | **2005** |   |
| Revenue                                                    |   | $ | 7,212 |   | $ | 6,032 |   | $ | 14,145 |   | $ | 11,062 |   |
| Cost of  goods sold                                        |   | 3,647 |   | 3,044 |   | 7,032 |   | 5,741 |   |
| Gross margin                                               |   | 3,565 |   | 2,988 |   | 7,113 |   | 5,321 |   |
|                                                       |   |   |   |   |   |   |   |   |   |
| Operating  expenses:                                       |   |   |   |   |   |   |   |   |   |
| Selling and marketing                                      |   | 1,774 |   | 1,858 |   | 3,697 |   | 3,565 |   |
| General and administrative                                 |   | 942 |   | 614 |   | 1,715 |   | 1,278 |   |
| Research and development                                   |   | 549 |   | 559 |   | 1,021 |   | 1,037 |   |
| Amortization of intangibles                                |   | 203 |   | 203 |   | 406 |   | 406 |   |
|                                                       |   | 3,468 |   | 3,234 |   | 6,839 |   | 6,286 |   |
| Operating  income (loss)                                   |   | 97 |   | (246 | ) | 274 |   | (965 | ) |
| Interest income                                            |   | 19 |   | 8 |   | 28 |   | 16 |   |
| Income  (loss) before income taxes                         |   | 116 |   | (238 | ) | 302 |   | (949 | ) |
| Provision for income taxes                                 |   | 5 |   | — |   | 11 |   | — |   |
|                                                       |   |   |   |   |   |   |   |   |   |
| Income  (loss) from continuing operations                  |   | 111 |   | (238 | ) | 291 |   | (949 | ) |
| Gain from  discontinued operations                         |   | 272 |   | — |   | 268 |   | — |   |
| Net income (loss)                                          |   | $ | 383 |   | $ | (238 | ) | $ | 559 |   | $ | (949 | ) |
|                                                       |   |   |   |   |   |   |   |   |   |
| Income  (loss) per share —basic                       |   |   |   |   |   |   |   |   |   |
| Continuing operations                                      |   | $ | 0.03 |   | $ | (0.07 | ) | $ | 0.08 |   | $ | (0.26 | ) |
| Discontinued operations                                    |   | 0.08 |   | — |   | 0.07 |   | — |   |
| Net income (loss)                                          |   | $ | 0.11 |   | $ | (0.07 | ) | $ | 0.15 |   | $ | (0.26 | ) |
|                                                       |   |   |   |   |   |   |   |   |   |
| Income  (loss) per share —diluted                     |   |   |   |   |   |   |   |   |   |
| Continuing operations                                      |   | $ | 0.03 |   | $ | (0.07 | ) | $ | 0.08 |   | $ | (0.26 | ) |
| Discontinued operations                                    |   | 0.07 |   | — |   | 0.07 |   | — |   |
| Net income (loss)                                          |   | $ | 0.10 |   | $ | (0.07 | ) | $ | 0.15 |   | $ | (0.26 | ) |
|                                                       |   |   |   |   |   |   |   |   |   |
| Weighted  average common shares outstanding                |   |   |   |   |   |   |   |   |   |
|                                                       |   |   |   |   |   |   |   |   |   |
| Basic                                                      |   | 3,619 |   | 3,606 |   | 3,615 |   | 3,605 |   |
| Diluted                                                    |   | 3,760 |   | 3,606 |   | 3,714 |   | 3,605 |   |
|                                                       |   |   |   |   |   |   |   |   |   |
|                                                       |   |   |   |   |   |   |   |   |   |
| **Consolidated Balance Sheets**                            | ** ** | ** ** | ** ** | ** ** | ** ** | **April 30, 2006** | ** ** | **October 31, 2005** | ** ** |
| Cash                                                       |   |   |   |   |   | $ | 2,957 |   | $ | 1,072 |   |
| Cash restricted for discontinued  operations               |   |   |   |   |   | 200 |   | 400 |   |
| Other current assets                                       |   |   |   |   |   | 10,869 |   | 8,535 |   |
| Equipment, intangible assets and  goodwill                 |   |   |   |   |   | 6,525 |   | 6,861 |   |
|                                                       |   |   |   |   |   | $ | 20,551 |   | $ | 16,868 |   |
|                                                       |   |   |   |   |   |   |   |   |   |
| Current liabilities                                        |   |   |   |   |   | $ | 7,039 |   | $ | 4,279 |   |
| Long-term liabilities                                      |   |   |   |   |   | 848 |   | 656 |   |
| Shareholders’ equity                                  |   |   |   |   |   | 12,664 |   | 11,933 |   |
|                                                       |   |   |   |   |   | $ | 20,551 |   | $ | 16,868 |   |

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