UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported):  January 3, 2012
 
LANTHEUS MEDICAL IMAGING, INC.
(Exact name of registrant as specified in its charter)
 
Delaware	 	333-169785	 	51-0396366	
(State or other jurisdiction of incorporation)	 	(Commission File Number)	 	(IRS Employer Identification No.)	
 
331 Treble Cove Road, North Billerica, MA 01862
(Address of principal executive offices) (Zip code)
 
Registrant’s telephone number, including area code:  (978) 671-8001
 
Not Applicable
(Former name or former address, if changed since last report.)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
o           Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o           Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
o           Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
o           Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 
Item 5.02                                            Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
 
Retirement of Chief Financial Officer
 
On January 4, 2012, Lantheus Medical Imaging, Inc. (the “Company”) announced the retirement of Robert P. Gaffey as the Company’s Chief Financial Officer and Treasurer, effective January 3, 2012.  Mr. Gaffey will continue to serve the Company as a consultant for the foreseeable future.  The options granted to Mr. Gaffey under the 2008 Equity Incentive Plan will continue to vest for so long as he continues to serve as a consultant to the Company.
 
Appointment of New Chief Financial Officer
 
Jeffrey Young, the Company’s Vice President, Finance and Chief Accounting Officer, was appointed as the Company’s new Chief Financial Officer and Treasurer, effective January 3, 2012.  Mr. Young, age 38, joined the Company in November 2008 as Global Controller and Assistant Treasurer and has served as the Company’s Vice President, Finance and Chief Accounting Officer, since July 2011.  Prior to joining the Company, Mr. Young held various positions at Critical Therapeutics, a biopharmaceutical company, from 2005 to 2008, most recently as Chief Accounting Officer, Vice President of Finance and Treasurer.  Mr. Young also held positions of increasing responsibility at PerkinElmer from 2003 to 2005 and at PricewaterhouseCoopers from 1998 to 2002.  Mr. Young is a certified public accountant and holds a Bachelor of Science in Business Administration from Georgetown University.
 
Mr. Young’s annual base salary will increase to $264,000.  Mr. Young is also entitled to receive a supplemental grant to purchase 15,000 shares of common stock of the Company’s ultimate parent, Lantheus MI Holdings, Inc., under its 2008 Equity Incentive Plan.
 
A copy of the Company’s press release, dated January 4, 2012, announcing the retirement of Mr. Gaffey and the appointment of Mr. Young to Chief Financial Officer is attached hereto as Exhibit 99.1 and is incorporated by reference herein.
 
Item 9.01                                            Financial Statements and Exhibits.
 
(d) Exhibits
 
Exhibit
Number	 	Description of Exhibit	
99.1	 	Press Release, dated January 4, 2012, announcing the retirement of Mr. Gaffey and the appointment of Mr. Young to Chief Financial Officer	
 
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SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 	LANTHEUS MEDICAL IMAGING, INC.	
 	 	 	
 	By:	/s/ Michael P. Duffy	
 	Name:	Michael P. Duffy	
 	Title:	Vice President and General Counsel	

Date:  January 4, 2012	 	 	
 
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EXHIBIT LIST
 
Exhibit
Number	 	Description of Exhibit	
99.1	 	Press Release, dated January 4, 2012, announcing the retirement of Mr. Gaffey and the appointment of Mr. Young to Chief Financial Officer	
 
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Exhibit 99.1

 
Contacts:	 	
Linda Lennox	Meara Murphy	
Lantheus Medical Imaging	Lantheus Medical Imaging	
Office: 978-671-8854	Office: 978-671-8508	
Cell: 978-995-5698	Cell: 978-408-3803	
 
LANTHEUS MEDICAL IMAGING ANNOUNCES CHIEF FINANCIAL OFFICER
ROBERT GAFFEY TO RETIRE
 
JEFFREY YOUNG APPOINTED TO SUCCEED GAFFEY AS CFO
 
No. BILLERICA, Mass. (January 4, 2012) — Lantheus Medical Imaging, Inc., a global leader in developing, manufacturing and distributing innovative diagnostic imaging agents, today announced that Robert Gaffey, Chief Financial Officer, will retire from the Company after more than 37 years of service to the organization, effective January 3, 2012. Jeffrey Young, CPA, has been appointed to succeed Mr. Gaffey as Chief Financial Officer, effective January 3, 2012. As Chief Financial Officer, Mr. Young will direct the Company’s global financial strategy, as well as oversee investor relations and strategic corporate communications. Mr. Young will report to Don Kiepert, President and Chief Executive Officer of Lantheus.
 
“Our organization has benefited greatly under Bob’s leadership,” said Mr. Kiepert. “On behalf of the Executive Leadership Team and our Board of Directors, I would like to thank Bob for his commitment to the Company and years of service, and acknowledge his significant contribution to the Company over the last four decades.”
 
“We are very pleased to have Jeff as our new CFO,” added Mr. Kiepert. “Jeff’s broad and global financial background, combined with his proven leadership, positions him well for this role. Since joining Lantheus in 2008, Jeff has built a strong team and has spearheaded a number of key initiatives that have reduced costs and improved operational efficiency for the Company. Jeff is an experienced, results-oriented finance executive who has worked with both private and public companies, and is a key member of our leadership team.”
 
Mr. Young, who was promoted to Vice President, Finance and Chief Accounting Officer in July 2011, joined Lantheus in the fall of 2008 as Global Controller. Prior to joining the Company, Mr.

 
Young spent several years at Critical Therapeutics, a biopharmaceutical company, most recently as Chief Accounting Officer, Vice President of Finance and Treasurer. Mr. Young also held positions of increasing responsibility at PerkinElmer and PricewaterhouseCoopers. Mr. Young is a CPA and earned a B.S. in Business Administration from Georgetown University.
 
About Lantheus Medical Imaging, Inc.
Lantheus Medical Imaging, Inc., a global leader in developing, manufacturing and distributing innovative diagnostic imaging agents, is dedicated to creating and providing pioneering medical imaging solutions to improve the treatment of human disease. The Company’s proven success in the field of diagnostic imaging provides a strong platform from which to bring forward breakthrough new tools for the diagnosis and management of disease. Lantheus imaging products include the echocardiography contrast agent DEFINITY ®  Vial for (Perflutren Lipid Microsphere) Injectable Suspension, an ultrasound contrast agent for use in patients with suboptimal echocardiograms to opacify the left ventricular chamber and to improve the delineation of the left ventricular endocardial border, ABLAVAR ®  (gadofosveset trisodium), a first-in-class magnetic resonance agent indicated for the evaluation of aortoiliac occlusive disease in adults with known or suspected peripheral vascular disease, TechneLite ®  (Technetium Tc99m Generator), Cardiolite ®  (Kit for the Preparation of Technetium Tc99m Sestamibi for Injection), and Thallium 201 (Thallous Chloride Tl 201 Injection). Lantheus has approximately 600 employees worldwide with headquarters in North Billerica, Massachusetts, and offices in Puerto Rico, Canada and Australia. For more information, visit www.lantheus.com.
 
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