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

 

***Angeion Corporation Reports***

***Strong Revenue and Earnings Growth in First Quarter of 2007***

SAINT PAUL, Minn. (March 12, 2007) — Angeion Corporation (NASDAQ:ANGN) today reported results for its first quarter ended January 31, 2007.

“We are excitedabout Angeion’s business results in the first quarter,” Rodney A. Young,President and Chief Executive Officer commented.  “Our performance was driven by strongrevenues in each of our three principal markets: hospitals and physicianoffices, clinical research, and health & fitness.”

**Growthand Progress in the First Quarter**

Notableaccomplishments for the quarter included:

·                  53% growth inrevenue over the first quarter of 2006

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

·                  Sixthconsecutive quarter of profitability

·                  496% increase innet income over the first quarter of 2006

Angeion reported netincome of $489,000, or $0.12 per diluted share, on revenue of $10.6 million inthe first quarter of 2007.  This comparesto net income of $82,000, or $0.02 per diluted share, on revenue of $6.9million in the first quarter of 2006.

“Sales of the MedGraphicsbrand Ultima Pulmonary Function cardiorespiratory diagnostic systems tohospitals and physician offices contributed significantly to our first quarterrevenue growth, while strong sales to our major customers in the clinicalresearch area also continued,” Young said. “The number of new cardiorespiratory system

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installations in ourhospital, clinic and physician office segments grew notably in both the U.S.and international markets, while New Leaf Active Metabolic TrainingTMparticipation grew 59% compared to this same period last year.  Our cardiorespiratory diagnostics, clinicalresearch and New Leaf product revenues and profits collectively increased bydouble-digits for the quarter compared with the same period in 2006.”

The Company noted thatresearch and development expenses increased by 40% compared to this same periodlast year.  This increase in R & Dspending coincides with the Company’s execution of its strategy to develop andlaunch new products targeting hospitals, primary care physicians, commercialfitness, corporate, and sports performance facilities in domestic andinternational markets.  Also, in thisfirst quarter, one-time charges for professional restatement related feesimpacted general and administrative expenses compared to this same period lastyear.

Additionally, Angeionannounced it is in the process of opening its European business development,marketing and technical support office in Milan, Italy.

**LookingAhead**

“Our first quarterresults represent an excellent start to what we anticipate will be anothersolid performance in 2007.  Establishing asound revenue base in the first quarter was important as we strive to achieveour goals of a fifth consecutive year of double-digit revenue growth, as wellas sustain profitability.”  Youngconcluded, “We are executing the following key initiatives;

·                  expand ourinternational distribution and partnerships,

·                  maintain ourindustry-leading customer service and technical support,

·                  grow our NewLeaf health & fitness delivery sites,

·                  drive moremetabolic assessments, as well as

·                  introducenew products and services to expand the breadth and depth of Angeion’sportfolio.”

**About Angeion Corporation**

Founded in 1986, AngeionCorporation acquired Medical Graphics Corporation in December 1999.  Medical Graphics develops, manufactures andmarkets non-invasive cardiorespiratory diagnostic systems that are sold underthe MedGraphics (www.medgraphics.com) and New Leaf (www.newleaffitness.com) brandand trade names.  These cardiorespiratorydiagnostic systems have a wide range of applications in healthcare as well ashealth and fitness.  The Company’sproducts are sold internationally through distributors and in the United Statesthrough a direct sales force that targets heart and lung specialists located inhospitals, university-based medical centers, medical clinics and physicians’offices, pharmaceutical companies, medical device manufacturers, clinicalresearch organizations, health and fitness clubs, personal training studios,and other exercise facilities.  For moreinformation about Angeion, visit www.angeion.com.

The discussion above contains forward-looking statements within themeaning of the Private Securities Litigation Reform Act of 1995.  These statements by their nature involvesubstantial risks and uncertainties.  Ourresults may differ materially depending on a variety of factors, including: (i)our ability 

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to successfully operate our business, including our ability to develop,improve, and update our cardiorespiratory diagnostic products, (ii) our abilityto ensure constant margins for products in light of fluctuating revenues fromour clinical research customers, (iii) our ability to effectively manufactureand ship our products in required quantities to meet customer demands, (iv) ourability to successfully defend the Company from product liability claimsrelated to our cardiorespiratory diagnostic products and claims associated withour prior cardiac stimulation products, (v) our ability to protect ourintellectual property, (vi) our ability to develop and maintain an effectivesystem of internal controls and procedures and disclosure controls andprocedures, and (vii) our 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, 2006, and subsequently filed reports.

—**Financials Follow—**

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**ANGEION CORPORATION AND SUBSIDIARIES**

**CondensedConsolidated Statements of Earnings**

(unaudited, in thousandsexcept per share amounts)

 
| ** **                                             | ** ** | **Three Months Ended** | ** ** |
|--------------------------------------------------------|------------|----------------------------------|------------|
| ** **                                             | ** ** | **January 31,**             | ** ** |
| **Consolidated Statements of Earnings** | ** ** | **2007**                         | ** ** | **2006** | ** ** |
| Revenues                                               |       | $                                | 10,619     |   | $ | 6,933 |   |
| Cost of goods  sold                                    |       | 5,332                            |       | 3,404 |   |
| Gross margin                                           |       | 5,287                            |       | 3,529 |   |
|                                                   |       |                             |       |   |   |
| Operating  expenses:                                   |       |                             |       |   |   |
| Selling and marketing                                  |       | 2,475                            |       | 1,953 |   |
| General and administrative                             |       | 1,160                            |       | 713 |   |
| Research and development                               |       | 675                              |       | 483 |   |
| Amortization of intangibles                            |       | 195                              |       | 203 |   |
|                                                   |       | 4,505                            |       | 3,352 |   |
| Operating income                                       |       | 782                              |       | 177 |   |
| Interest income                                        |       | 36                               |       | 9 |   |
| Income before  taxes                                   |       | 818                              |       | 186 |   |
| Provision for taxes                                    |       | 329                              |       | 100 |   |
|                                                   |       |                             |       |   |   |
| Income from  continuing operations                     |       | 489                              |       | 86 |   |
| Loss from  discontinued operations, net of $0 taxes    |       | —                           |       | (4 | ) |
| Net income                                             |       | $                                | 489        |   | $ | 82 |   |
|                                                   |       |                             |       |   |   |
| Earnings per  share - basic                            |       |                             |       |   |   |
| Continuing operations                                  |       | $                                | 0.13       |   | $ | 0.02 |   |
| Discontinued operations                                |       | —                           |       | — |   |
| Net income per share                                   |       | $                                | 0.13       |   | $ | 0.02 |   |
| Earnings per  share - diluted                          |       |                             |       |   |   |
| Continuing operations                                  |       | $                                | 0.12       |   | $ | 0.02 |   |
| Discontinued operations                                |       | —                           |       | — |   |
| Net income per share                                   |       | $                                | 0.12       |   | $ | 0.02 |   |
| Weighted average  common shares outstanding            |       |                             |       |   |   |
| Basic                                                  |       | 3,838                            |       | 3,611 |   |
| Diluted                                                |       | 4,249                            |       | 3,635 |   |

 
| ** **                                | ** ** | **January 31,** | ** ** | **October 31,** | ** ** |
|-------------------------------------------|------------|----------------------|------------|----------------------|------------|
| **Consolidated Balance Sheets** | ** ** | **2007**             | ** ** | **2006**             | ** ** |
| Cash                                      |       | $                    | 4,671      |                 | $          | 4,069 |   |
| Other current  assets                     |       | 13,202               |       | 12,821               |       |
| Equipment and  intangible assets          |       | 4,435                |       | 4,863                |       |
|                                      |       | $                    | 22,308     |                 | $          | 21,753 |   |
|                                      |       |                 |       |                 |       |
| Current  liabilities                      |       | 6,029                |       | 6,686                |       |
| Long-term  liabilities                    |       | 765                  |       | 757                  |       |
| Shareholders’  equity                |       | 15,514               |       | 14,310               |       |
|                                      |       | $                    | 22,308     |                 | $          | 21,753 |   |

 

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