Aspect Medical shareholder nominates three to board, seeks to maximize value

By Angela McDaniels

Tacoma, Wash., March 12 - Aspect Medical Systems, Inc. shareholder First BioMed, LP nominated Jon C. Biro, Melvin L. Keating and Vincent P. Scialli for election to the company's board of directors at its 2009 annual meeting of stockholders, according to a schedule 13D/A filing with the Securities and Exchange Commission.

The investor also proposed resolutions recommending that the board form a special committee of independent directors to study ways to optimize the company's capital structure and otherwise maximize stockholder value and that the company's bylaws be amended to require that the annual meeting be held no later than May 21 in each year.

First BioMed is an affiliate of First BioMed Management Associates, LLC, which is a member of group of Aspect Medical shareholders that also includes Scialli and First Manhattan Co.

The group beneficially owns 2,361,570 shares, or 13.6%, of the company's common stock.

Aspect Mecial is a Norwood, Mass.-based developer of brain monitoring technology.

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