03/06/2006
Author: Austin Business Journal
HealthTronics Inc. named R. Steven Hicks of Austin as chairman of its board of directors, the Austin company said Monday. Hicks has been a director of HealthTronics (NASDAQ: HTRN) since December 2002.

"I am pleased to serve HealthTronics' shareholders in this new role. I look forward to working with our talented management team as we continue to leverage our core assets and capabilities to build a stronger and more profitable company," Hicks says in a statement. Hick is chairman of Austin-based private investment firm Capstar Partners LLC. An affiliate of Capstar owns Austin-based digital music company DMX Music Inc. Other Austin companies in Capstar's portfolio include Trisun Healthcare LLC, a manager of skilled nursing and assisted living centers, and rateGenius Inc., a Web-based loan brokerage.

Before forming Capstar, Hicks was vice chairman of AMFM Inc., which was the country's largest owner and operator of radio stations. In 1996, Hicks founded Capstar Broadcasting Corp., which merged with Dallas-based Chancellor Media Corp. to create AMFM. Clear Channel Communications Inc. bought AMFM in 2002.

Also, HealthTronics' board elected Kevin Richardson II as a director. Richardson is co-founder of investment firms Prides Capital LLC and Prides Capital Partners LLC, which have offices in Boston and San Francisco. Furthermore, HealthTronics formed a strategic planning committee composed of interim President and CEO John Barnidge, chief medical adviser and former Chairman Dr. Argil Wheelock and former Vice Chairman Ken Shifrin.

HealthTronics provides health care services, primarily for the urology industry, and manufactures and distributes medical devices.