COTTONWOOD HEIGHTS, Utah, Nov. 29, 2017 — Dynatronics Corporation (NASDAQ:DYNT) held its Annual Meeting of Shareholders today and announces that the company’s shareholders have voted in favor of all proposals submitted by the company, including the approval of shares to be issued in connection with the company’s recent acquisition of Bird & Cronin, Inc., a manufacturer and distributor of orthopedic soft goods and specialty patient care products.
“We are pleased with the overwhelming support we received from shareholders in approving the share issuance related to the Bird & Cronin transaction,” stated Kelvyn H. Cullimore Jr., chairman and CEO. “The unity we are seeing from our shareholders gives us great confidence in the strategic initiatives we have begun implementing. We will continue to pursue our stated strategic goals of organic growth and acquiring value-enhancing companies in order to increase the company’s profitability and cash flow.”
In addition to approving the issuance of shares, company shareholders ratified the appointment of Tanner LLC as Dynatronics’ independent registered public accounting firm and re-elected three directors to its Board of Directors, Scott A. Klosterman, R. Scott Ward and Kelvyn H. Cullimore Jr. “The continued service of these Board members helps assure an important continuity as we pursue our strategic goals of growth,” said Erin S. Enright, Chair of the Nominating and Governance Committee. “We appreciate the confidence and support shown by our shareholders and will continue our efforts to respect that trust.”
Results of the voting and other information relating to the company’s Annual Meeting of Shareholders will be reported by the company in a Current Report on Form 8-K to be filed with the Securities and Exchange Commission.
About Dynatronics Corporation
Dynatronics designs, manufactures, markets, and distributes advanced-technology medical devices, therapeutic and medical treatment tables, rehabilitation equipment, custom athletic training treatment tables and equipment, institutional cabinetry, orthopedic soft goods, as well as other specialty patient, rehabilitation and therapy products and supplies. Through its various distribution channels, the company markets and sells its products to physical therapists, chiropractors, athletic trainers, sports medicine practitioners, orthopedists, hospitals, clinics, and other medical professionals, and institutions. More information is available at www.dynatronics.com.
Safe Harbor Notification
This press release contains forward-looking statements. Those statements include references to the company’s expectations and similar statements. Forward-looking statements in this press release include statements regarding future acquisition activities and the impact of those potential acquisitions on the company’s cash flow and profitability. Actual results may vary from the views expressed in the forward-looking statements contained in this release. The development and sale of the company’s products are subject to a number of risks and uncertainties, including, but not limited to, changes in the regulatory environment, competitive factors, inventory risks due to shifts in market demand, market demand for the company’s products, availability of financing at cost-effective rates, and the risk factors listed from time to time in the company’s SEC reports.
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SOURCE Dynatronics Corporation