Joseph Galatowitsch
About Joseph L. Galatowitsch
Independent director of Electromed, Inc. since 2021, age 67, with a background leading medtech market development and consulting practices. Former Partner and Medtech practice leader at Guidehouse (Navigant) following the acquisition of Dymedex Consulting, LLC, where he was Co‑Founder and President; prior strategic marketing and business roles at Medtronic and 3M. Education: BS in Biomedical Engineering (Marquette) and MBA in Marketing (University of St. Thomas – Opus College of Business). Other boards: Manufacturing Wealth LLC; prior service on Medical Alley’s board.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Guidehouse (Navigant) | Partner; Medtech practice leader | Aug 2016 – Sep 2020 (retired) | Led medtech consulting; broad capabilities in management, technology, and risk consulting. |
| Dymedex Consulting, LLC | Co‑Founder; President | Jan 2008 – Aug 2016 | Pioneered frameworks for clinical adoption of disruptive medical technologies. |
| Medtronic plc | Senior Director of Strategic Marketing | Not disclosed | Led global market development for cardiac rhythm management; drove international adoption of implantable devices. |
| 3M Company | Marketing & Business Management | Not disclosed | Marketing and business strategy leadership. |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Manufacturing Wealth LLC | Board member | Not disclosed | Private entity board service. |
| Medical Alley | Board member | 2011 – 2021 | Regional health innovation ecosystem; prior board service. |
Board Governance
- Independence: The Board determined Galatowitsch is independent under NYSE American rules. Independent directors on the Board include Erickson, Fluet, Galatowitsch, Summers, Tune, and Walsh.
- Committee assignments (latest proxy): Audit Committee members are Erickson (Chair), Fluet, and Tune; Galatowitsch is not listed on Audit. The proxy confirms four standing committees: Audit, Personnel & Compensation, Nominating & Governance, and Finance & Strategy.
- Committee history (trend): In prior proxies, Galatowitsch served on Personnel & Compensation and Finance & Strategy committees (member).
- Board leadership: Chair of the Board is Kathleen S. Skarvan (elected July 1, 2023). Lead Independent Director is Kathleen A. Tune (elected Nov 10, 2023) and presides over executive sessions of independent directors.
- Attendance: Fiscal 2025 Board held six meetings; each director attended at least 75% of Board and committee meetings; all directors attended the Nov 15, 2024 annual meeting.
- Compensation committee practices: Members affirmatively independent; no external compensation consultants were engaged in the last fiscal year.
- Policies: Company prohibits pledging and hedging of company stock by directors and employees; allows only approved 10b5‑1 plans and same‑day limit orders.
- Clawback: Dodd‑Frank/NYSE‑compliant recoupment policy adopted (Rule 10D‑1) applicable to incentive-based pay after Oct 2, 2023.
Fixed Compensation
| Director Compensation Element | Amount (USD) |
|---|---|
| Board Member annual cash retainer | $35,000 |
| Board Chair annual cash retainer | $30,000 |
| Lead Independent Director retainer | $22,500 |
| Audit Committee Chair | $15,000 |
| Personnel & Compensation Committee Chair | $10,000 |
| Nominating & Governance Committee Chair | $7,000 |
| Finance & Strategy Committee Chair | $7,000 |
| Audit Committee Member | $5,000 |
| Personnel & Compensation Committee Member | $5,000 |
| Nominating & Governance Committee Member | $2,000 |
| Finance & Strategy Committee Member | $2,000 |
| Annual Equity Award (restricted stock) | 3,000 shares |
| Joseph L. Galatowitsch – Fiscal 2025 Director Compensation | Amount (USD) |
|---|---|
| Stock Awards (grant-date fair value) | $92,340 |
| Fees Earned or Paid in Cash | $42,000 |
| Total | $134,340 |
Notes: Director equity was awarded Dec 1, 2024 (3,000 shares of restricted stock) and vested in full six months after grant; no director shares remained unvested at FY2025 year-end.
Performance Compensation
- Structure: No performance-based director pay disclosed; annual director equity grants are time‑based restricted stock that vest six months post grant.
| Equity Grant Design (Directors FY2025) | Detail |
|---|---|
| Grant type | Restricted stock (3,000 shares) |
| Grant date | December 1, 2024 |
| Vesting | Full vesting at six months from grant date |
Other Directorships & Interlocks
| Company/Organization | Public Company? | Role | Committee/Position |
|---|---|---|---|
| Manufacturing Wealth LLC | No (not disclosed as public) | Board | Not disclosed |
| Medical Alley | No | Board (2011–2021) | Not disclosed |
No current public company directorships are disclosed for Galatowitsch, reducing risk of interlocks with competitors, suppliers, or customers.
Expertise & Qualifications
- Medical technology management, commercial execution, global market development, strategic marketing, consulting, and sales; prior leadership at Medtronic and 3M.
- Academic credentials in biomedical engineering and marketing; supports “financial literacy” and strategic oversight.
- Board qualifies him based on market development, strategy, and adoption frameworks for disruptive technologies.
Equity Ownership
| Holder | Shares Beneficially Owned | % of Shares Outstanding | Notes |
|---|---|---|---|
| Joseph L. Galatowitsch | 12,000 | <1% | Beneficial ownership per Sept 17, 2025 record date; options not indicated in footnotes for Joseph. |
| Shares Outstanding (record date) | 8,376,147 | — | Basis for ownership percentage. |
- Hedging/pledging: Company policy prohibits pledging and hedging of company securities by directors and employees.
- Ownership guidelines: No director stock ownership guidelines are disclosed in the proxy; not evaluated.
Governance Assessment
- Board independence and safeguards: Galatowitsch is independent; the Board maintains a Lead Independent Director and separate Chair/CEO roles, which strengthen oversight and independent deliberation.
- Engagement: Attendance thresholds met (>75%); full attendance at the 2024 annual meeting indicates engagement; committee meetings held (Audit 5; Personnel & Compensation 4; Nominating & Governance 2) show active governance cadence.
- Compensation alignment: Director pay mix is balanced (cash retainer plus modest, short‑vesting equity), limiting long‑term entrenchment risk; equity awards vest in six months, avoiding complex performance linkages that could misalign incentives for oversight roles.
- Conflicts: No related‑party transactions involving Galatowitsch disclosed; broader vendor arrangement involves a former director and is subject to Audit Committee oversight and competitiveness reviews.
- Risk controls: Robust insider trading policy (no hedging/pledging) and an adopted clawback policy enhance investor protection in the event of restatements.
- Transparency note: The 2025 proxy fully identifies Audit Committee membership but does not explicitly list members of other committees; prior proxies show Galatowitsch’s participation on Personnel & Compensation and Finance & Strategy committees, suggesting ongoing involvement in compensation and strategic reviews. This partial disclosure reduces contemporaneous clarity on his 2025 committee roles.
RED FLAGS: None disclosed specific to Galatowitsch (no related‑party transactions, no pledging/hedging, no low attendance). The absence of current-year committee roster details beyond Audit slightly weakens visibility into his present committee influence.
Shareholder signal: Say‑on‑pay passed with ~91% support in 2024, indicating broad investor approval of compensation practices overseen by the Personnel & Compensation Committee; while executive‑focused, this is a positive governance indicator.