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):  July 22, 2011
 
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	
 
Appointment of Vice President, Finance and Chief Accounting Officer
 
On July 22, 2011, Jeffrey Young was appointed Vice President, Finance and Chief Accounting Officer of Lantheus Medical Imaging, Inc. (the “Company”).  Mr. Young, age 38, previously served as the Company’s Global Controller and Assistant Treasurer, a position he held since November 2008.  In his new role, Mr. Young will manage all aspects of the Company’s finance, accounting, management and SEC reporting, treasury and other functions.  He also will continue to report to Robert Gaffey, the Company’s Chief Financial Officer, and serve as the Company’s Assistant Treasurer.  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 compensation consists of an annual base salary of $252,000 and an annual cash bonus of 15%, 30% or 60%, respectively, of his annual base salary, based on the Company meeting certain threshold, target or above target performance metrics under its 2011 Executive Leadership Team Incentive Bonus Plan.  In addition, Mr. Young is entitled to receive a supplemental grant to purchase 10,000 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 July 26, 2011, announcing the promotion of Mr. Young to Vice President, Finance and Chief Accounting Officer is attached hereto as Exhibit 99.1 and is incorporated by reference herein.
 
Resignation of Vice President, Sales and Marketing
 
On July 25, 2011, Robert A. Spurr submitted his resignation as the Company’s Vice President, Sales and Marketing, effective immediately.  Mr. Spurr submitted his resignation in order to pursue other career opportunities.  While alternative replacements are being considered, Mr. Spurr’s responsibilities have been transitioned to existing leadership on an interim basis.  A copy of the Company’s press release, dated July 27, 2011, announcing the management change is attached hereto as Exhibit 99.2 and is incorporated by reference herein.
 
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Item 9.01	Financial Statements and Exhibits.	
 
(d) Exhibits
 
Exhibit
Number	 	Description of Exhibits	
99.1	 	Press Release, dated July 26, 2011, announcing the promotion of Jeffrey Young to Vice President, Finance and Chief Accounting Officer	
99.2	 	Press Release, dated July 27, 2011, announcing the resignation of Robert A. Spurr as Vice President, Sales and Marketing	
 
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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:	Secretary	

Date:  July 28, 2011
 
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EXHIBIT LIST
 
Exhibit
Number	 	Description of Exhibits	
99.1	 	Press Release, dated July 26, 2011, announcing the promotion of Jeffrey Young to Vice President, Finance and Chief Accounting Officer	
99.2	 	Press Release, dated July 27, 2011, announcing the resignation of Robert A. Spurr as Vice President, Sales and Marketing	
 
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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 PROMOTION OF JEFFREY YOUNG TO VICE PRESIDENT, FINANCE
 
No. BILLERICA, Mass. (July 26, 2011) — Lantheus Medical Imaging, Inc., a worldwide leader in diagnostic imaging, today announced the promotion of Jeffrey Young to Vice President, Finance and Chief Accounting Officer. He joined the Company in the fall of 2008 as Global Controller. In his new role and as a member of the Executive Leadership Team, Mr. Young will manage all aspects of the Company’s finance, accounting, management and SEC reporting, treasury and other functions. Mr. Young will continue to report to Robert Gaffey, Lantheus’ Chief Financial Officer.
 
“In just a short time, Jeff has proven himself to be an invaluable member of the finance team and I am pleased to announce his well-deserved promotion,” said Don Kiepert, President and Chief Executive Officer of Lantheus Medical Imaging. “Jeff will be a critical member of our executive team as we execute our corporate strategy and achieve new milestones for Lantheus.”
 
Prior to joining Lantheus, 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 worldwide leader in diagnostic medicine for more than 50 years, is dedicated to creating and providing pioneering medical imaging solutions to improve the treatment of human disease. The company’s proven success in discovering, developing and

 
commercializing innovative medical imaging agents 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, 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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Exhibit 99.2

 
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 MANAGEMENT CHANGE
 
No. BILLERICA, Mass. (July 27, 2011) — Lantheus Medical Imaging, Inc., a worldwide leader in diagnostic imaging, today announced the resignation of Robert A. Spurr as Vice President, Sales and Marketing, effective July 25, 2011. Mr. Spurr submitted his resignation in order to pursue other career opportunities.
 
“We thank Bob for his service and contributions to Lantheus and wish him well in his future endeavors,” said Don Kiepert, President and CEO, Lantheus Medical Imaging. “We remain committed to executing our commercial strategy and providing top quality service to our customers during this transition.”
 
While alternative replacements are being considered, Cyrille Villeneuve, Vice President and General Manager, International, will assume responsibility for sales and marketing of the Company’s commercial products in the United States. Mr. Villeneuve has served Lantheus Medical Imaging and its predecessors for more than 20 years, bringing program management expertise and in-depth product knowledge to his role as General Manager for the company’s operations in Canada, Latin America and the Pacific Rim.
 
About Lantheus Medical Imaging, Inc.
Lantheus Medical Imaging, Inc., a worldwide leader in diagnostic medicine for more than 50 years, is dedicated to creating and providing pioneering medical imaging solutions to improve the treatment of human disease. The company’s proven success in discovering, developing and commercializing innovative medical imaging agents 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, 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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