8-K

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 16, 2003

HEI, Inc.
(Exact name of Registrant as Specified in Charter)

Minnesota	0-10078	41-0944876
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

PO Box 5000, 1495 Steiger Lake Lane, Victoria, Minnesota 55386

(Address of Principal Executive Offices, including Zip Code)

(952) 443-2500

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

TABLE OF CONTENTS

	Item 5. OTHER EVENTS.
	Item 7. FINANCIAL STATEMENTS AND EXHIBITS.
SIGNATURES
Exhibit Index
EX-99.1 Press Release dated May 28, 2003
EX-99.2 Press Release dated June 2, 2003
EX-99.3 Press Release dated June 3, 2003
EX-99.4 Press Release dated June 20, 2003
EX-99.5 Press Release dated July 1, 2003
EX-99.6 Press Release dated July 2, 2003
EX-99.7 Press Release dated July 10, 2003

Item 5. OTHER EVENTS.

     On May 28, 2003, HEI, Inc. issued a press release announcing that it signed a value-added reseller (VAR) agreement with SAMSys Technologies Inc. A copy of the press release is attached as Exhibit 99.1 and incorporated herein by reference.

     On June 2, 2003, HEI, Inc. issued a press release announcing that it entered into a Credit Agreement with Beacon Bank of Shorewood, Minnesota. A copy of the press release is attached as Exhibit 99.2 and incorporated herein by reference.

     On June 3, 2003, HEI, Inc. issued a press release announcing that on June 2-4, 2003, it would attend the Medical Design and Manufacturing Conference and Exposition East in New York, NY, to demonstrate its combined microelectronic packaging, high density interconnect and advanced medical devise development and manufacturing capabilities. A copy of the press release is attached as Exhibit 99.3 and incorporated herein by reference.

     On June 20, 2003, HEI, Inc. issued a press release announcing the resignation of Steve Tondera as the Chief Financial Officer and a member of its Board of Directors. HEI also announced that it had appointed Douglas Nesbit to replace Mr. Tondera as the Chief Financial Officer effective June 30, 2003. A copy of the press release is attached as Exhibit 99.4 and incorporated herein by reference.

     On July 1, 2003, HEI, Inc. issued a press release announcing that it commenced litigation against Anthony J. Fant, the former Chairman of the Board, Chief Executive Officer and President and a current member of the Board of Directors, and established a Special Committee of the independent members of the Board of Directors to address all issues related to Mr. Fant. A copy of the press release is attached as Exhibit 99.5 and incorporated herein by reference.

     On July 2, 2003, HEI, Inc. issued a press release announcing the promotion of Scott Stole to the position of Chief Technical Officer. A copy of the press release is attached as Exhibit 99.6 and incorporated herein by reference.

     On July 10, 2003, HEI, Inc. issued a press release announcing that it signed an agreement with Cerner Corporation to develop and supply certain bedside heathcare integration products. A copy of the press release is attached as Exhibit 99.7 and incorporated herein by reference.

Item 7. FINANCIAL STATEMENTS AND EXHIBITS.

     (a) Financial Statements.

     Not Applicable.

     (b) Pro Forma Financial Information.

     Not Applicable.

     (c) Exhibits:

99.1	Press Release dated May 28, 2003, regarding value-added reseller (VAR) agreement with SAMSys Technologies, Inc.
99.2	Press Release dated June 2, 2003, regarding a Credit Agreement with Beacon Bank.
99.3	Press Release dated June 3, 2003, regarding attendance at the Medical Design and Manufacturing Conference and Exposition East.
99.4	Press Release dated June 20, 2003, regarding the resignation of Steve Tondera as the Chief Financial Officer and Board Member, and appointment of Douglas Nesbit as Chief Financial Officer.
99.5	Press release dated July 1, 2003, regarding the commencement of litigation against Anthony J. Fant and the establishment of a Special Committee of the independent members of the Board of Directors to address the issues related to Mr. Fant.
99.6	Press release dated July 2, 2003, regarding the promotion of Scott Stole to the position of Chief Technical Officer.
99.7	Press release dated July 10, 2003, regarding an agreement with Cerner Corporation.

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.

HEI, INC

Dated: July 16, 2003 By /s/ Douglas Nesbit
Douglas Nesbit
Its: Chief Financial Officer

Exhibit Index

99.1	Press Release dated May 28, 2003, regarding value-added reseller (VAR) agreement with SAMSys Technologies, Inc.
99.2	Press Release dated June 2, 2003, regarding a Credit Agreement with Beacon Bank.
99.3	Press Release dated June 3, 2003, regarding attendance at the Medical Design and Manufacturing Conference and Exposition East.
99.4	Press Release dated June 20, 2003, regarding the resignation of Steve Tondera as the Chief Financial Officer and Board Member, and appointment of Douglas Nesbit as Chief Financial Officer.
99.5	Press release dated July 1, 2003, regarding the commencement of litigation against Anthony J. Fant and the establishment of a Special Committee of the independent members of the Board of Directors to address the issues related to Mr. Fant.
99.6	Press release dated July 2, 2003, regarding the promotion of Scott Stole to the position of Chief Technical Officer.
99.7	Press release dated July 10, 2003, regarding an agreement with Cerner Corporation.

EX-99.1 3 c78250exv99w1.htm EX-99.1 PRESS RELEASE DATED MAY 28, 2003

NEWS RELEASE

1495 Steiger Lake Lane
Victoria, Minnesota 55386 USA
952-443-2500

CONTACTS:		For Immediate Release
	Mack V. Traynor, CEO
	Steve E. Tondera, Jr., CFO

SAMSYS TECHNOLOGIES SIGNS VAR AGREEMENT WITH HEI, INC. TO PROVIDE SPECIALTY RFID SOLUTIONS IN MANUFACTURING PACKAGING

TORONTO, May 28, 2003 (Canada NewsWire via COMTEX) — SAMSys Technologies Inc. (SMY:TSX-VEN) (“SAMSys”), SAMSys Technologies Inc. (SAMSys), a world leading provider of radio frequency identification (RFID) hardware solutions and RFID integration consulting services, today announced that it has signed a value-added reseller (VAR) agreement with HEI, Inc. (HEI) (formerly Cross Technology), a U.S.-based company specializing in the custom design and manufacturing of innovative microelectronics packaging, subsystem, connectivity, and software solutions. Under this agreement, SAMSys will provide its RFID reader hardware and consulting services to HEI.

HEI offers manufacturing, design solutions and services to provide state- of-the-art materials and process technology to advanced medical, hearing, broadband communications, and industrial markets. This VAR agreement formalizes the relationship to include channel development and system integration with SAMSys’ reader hardware and accessories.

HEI offers the highest density packaging with fully encapsulated and functionality testing for RFID identification and product verification. RFID reader technology will enable multi-frequency, multi-protocol capabilities regardless of the tag and label design and needs. Currently HEI uses a number of commercially available integrated circuits for making tags and labels. These can be integrated into a single multi-frequency reading device for many applications over the range of the RFID product spectrum.

“HEI provides the integration capability for complete tag solutions as well as providing the systems level activity needed in the industry. HEI’s tags and design capability for unique designs has been a benefit to customers in the industry. The addition of the wide range of readers that SAMSys provides will be a welcome addition to our offering in many new fields and new products,” says Simon Hawksworth, VP of Sales and Marketing.

“HEI has carved out a unique position in the market by providing “rugged” RFID tags that withstand harsh environmental conditions and applications,” says Cliff Horwitz, Chairman and Chief Executive Officer of SAMSys. “We are pleased to partner with this innovative company to continue offering optimum logistics management solutions.”

“SAMSys has been a strong influence for enhancing RFID solutions globally, and we’re pleased to further our existing relationship to now include their full line of RFID readers to our product line for RFID systems and solutions,” said Mart Diana, Sales and Marketing. “By incorporating SAMSys’ readers with our RFID system integrations, we can provide competitive and top-notch solutions to our clients.”

SAMSys offers a selection of reader solutions including standard frequency-specific modules, custom-made application specific reader systems, and OEM modules to provide tailored solutions for a wide variety of supply chain management, logistics management, and tracking and fulfillment applications. The comprehensive line of RFID readers spans low frequency, high frequency and UHF, supports a very broad range of protocols, which supports a wide range of form factors, including: packaged and ready to use low power, multi-protocol readers; high power, multi-protocol readers for demanding applications; networked reader solutions for complex, multi-reader applications; smart shelves; modules for integration into OEM products; RFID reader networking tools for TCP/IP connectivity; and dual frequency readers at 125KHz/13.56MHz and 134KHz/13.56 MHz. In addition to providing reader solutions, SAMSys offers consulting services that focus on the front-end of the RFID implementation process.

About SAMSys Technologies Inc.

SAMSys Technologies Inc. (SAMSys), founded in 1995, is a world-leading provider of radio frequency identification (RFID) hardware solutions and RFID integration consulting services designed to evaluate and recommend optimal RFID solutions to enhance existing business process. SAMSys offers a family of products to simplify the installation and ensure the ongoing performance of the overall RFID hardware infrastructure. SAMSys is a public company whose shares are listed for trading on the TSX Venture Exchange under the symbol: “SMY”. The Company has a total of 28.7 million shares outstanding. Visit SAMSys at: www.samsys.com and www.investorfile.com.

About HEI, Inc.

HEI, Inc. designs, develops, and manufactures microelectronic, subsystem, system, connectivity, and software solutions. The Company’s unique range of capabilities in product realization give a competitive advantage to OEMs engaged in the medical device, hearing, biotechnology, healthcare information and communications industries. Web site: www.heii.com.

Microelectronics Division	PO Box 5000, 1495 Steiger Lake Lane, Victoria, MN 55386
Advance Medical Division	4801 north 63rd Street, Boulder CO 80301
High Density Interconnect Division	610 South Rockford Drive, Tempe, AZ 85281
RF Identification and Smart Card Division	1546 Lake Drive West, Chanhassen, MN 55317

FORWARD LOOKING INFORMATION
Information in this news release, which is not historical, includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements contained in this press release, including the growth of specific markets, improved results and the estimated HEI revenue, cash flow and profits, are forward looking statements. All of such forward-looking statements involve risks and uncertainties including, without limitation, adverse business or market conditions, the ability of HEI to secure and satisfy customers, the availability and cost of materials from HEI’s suppliers, adverse competitive developments, change in or cancellation of customer requirements, and other risks detailed from time to time in HEI’s SEC filings.

For further information: SAMSys Contacts: Media Contact: Mary Pygiel, Consultant, Maverick Public Relations, (416) 628-5504, maryp(at)maverickpr.com; Investor Relations Contact: Gerry Wimmer, INVESTORFILE.com, (416) 360-8895, gwimmer(at)investorfile.com; Company Contact: Cliff Horwitz, Chief Executive Officer, (905) 707-0404 x230, cliff.horwitz(at)samsys.com; HEII Contact: Mr. Mart Diana and Carl Livingston, Sales & Marketing for RFID, (952) 443-2500, mart_d(at)heii.com, carl_l(at)heii.com

EX-99.2 4 c78250exv99w2.htm EX-99.2 PRESS RELEASE DATED JUNE 2, 2003

NEWS RELEASE

1495 Steiger Lake Lane
Victoria, Minnesota 55386 USA
952-443-2500

CONTACTS:		For Immediate Release
	Mack V. Traynor, CEO Steve E. Tondera, Jr., CFO

HEI, INC. ENTERS INTO RELATIONSHIP WITH BEACON BANK

MINNEAPOLIS, Jun 2, 2003 /PRNewswire-FirstCall via COMTEX/ — HEI, Inc. (Nasdaq: HEII) ( www.heii.com ) today announced that it has entered into a Credit Agreement with Beacon Bank of Shorewood, Minnesota. The Credit Agreement is a receivables backed facility. HEI believes that the Credit Agreement will provide adequate access to cash in order for HEI to meet its short term liquidity needs.

“We want our shareholders and the community to know that we have followed through on our commitment to replace LaSalle Business Credit, LLC of Chicago, IL, a goal targeted for the end of June of this year,” stated Mack Traynor III. “We are happy to have accomplished this ahead of our original goal by entering into the Credit Agreement with Beacon Bank.”

About HEI, Inc.

HEI, Inc. designs, develops, and manufactures microelectronic, subsystem, system, connectivity, and software solutions. The Company’s unique range of capabilities in product realization give a competitive advantage to OEMs engaged in the medical device, hearing, biotechnology, healthcare information and communications industries. Web site: www.heii.com.

Microelectronics Division
Advance Medical Division
High Density Interconnect Division
RF Identification and Smart Card Division PO Box 5000, 1495 Steiger Lake Lane, Victoria, MN 55386
4801 north 63rd Street, Boulder CO 80301
610 South Rockford Drive, Tempe, AZ 85281
1546 Lake Drive West, Chanhassen, MN 55317

FORWARD LOOKING INFORMATION
Information in this news release, which is not historical, includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements contained in this press release, including the growth of specific markets, improved results and the estimated HEI revenue, cash flow and profits, are forward looking statements. All of such forward-looking statements involve risks and uncertainties including, without limitation, adverse business or market conditions, the ability of HEI to secure and satisfy customers, the availability and cost of materials from HEI’s suppliers, adverse competitive developments, change in or cancellation of customer requirements, and other risks detailed from time to time in HEI’s SEC filings.

SOURCE HEI, Inc.
Mack V. Traynor, CEO, or Steve E. Tondera, Jr., CFO, both of
HEI, Inc., +1-952-443-2500
http://www.heii.com

EX-99.3 5 c78250exv99w3.htm EX-99.3 PRESS RELEASE DATED JUNE 3, 2003

NEWS RELEASE

1495 Steiger Lake Lane
Victoria, Minnesota 55386 USA
952-443-2500

CONTACTS:		For Immediate Release
	Mack V. Traynor, CEO Steve E. Tondera, Jr., CFO

HEI, INC. TO EXHIBIT COMBINED MICROELECTRONIC AND ADVANCED MEDICAL DEVICE CAPABILITIES

MINNEAPOLIS, Jun 3, 2003 /PRNewswire-FirstCall via COMTEX/ — HEI, Inc. (Nasdaq: HEII) ( www.heii.com ) today announced that the company will demonstrate its combined microelectronic packaging, high density interconnect, and advanced medical device development and manufacturing capabilities at the Medical Design and Manufacturing Conference and Exposition East 2003, Booth 1503, at the Jacob Javits Convention Center, New York, NY June 2-4, 2003.

“We are especially excited to demonstrate our Link-iT™ connectivity technology, a system which enables two-way patient-to-device-to-network communication,” states Mack Traynor III, President and CEO of HEI, Inc. “This technology is readily adaptable to new and existing devices and easily integrated into healthcare information systems. Link-iT™ draws on our considerable experience in medical devices and healthcare information as well as HEI’s strength in high-density electronics packaging. Both medical device and healthcare information OEMs are seeing real value from this solution.”

Also on exhibit is a wide range of microelectronics and flex interconnects for medical, hearing, communication, and RFID applications, along with therapeutic, diagnostic and biotechnology instrumentation.

About HEI, Inc.

HEI, Inc. designs, develops, and manufactures microelectronic, subsystem, system, connectivity, and software solutions. The Company’s unique range of capabilities in product realization give a competitive advantage to OEMs engaged in the medical device, hearing, biotechnology, healthcare information and communications industries. Web site: www.heii.com.

Microelectronics Division
Advance Medical Division
High Density Interconnect Division
RF Identification and Smart Card Division PO Box 5000, 1495 Steiger Lake Lane, Victoria, MN 55386
4801 north 63rd Street, Boulder CO 80301
610 South Rockford Drive, Tempe, AZ 85281
1546 Lake Drive West, Chanhassen, MN 55317

FORWARD LOOKING INFORMATION
Information in this news release, which is not historical, includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements contained in this press release, including the growth of specific markets, improved results and the estimated HEI revenue, cash flow and profits, are forward looking statements. All of such forward-looking statements involve risks and uncertainties including, without limitation, adverse business or market conditions, the ability of HEI to secure and satisfy customers, the availability and cost of materials from HEI’s suppliers, adverse competitive developments, change in or cancellation of customer requirements, and other risks detailed from time to time in HEI’s SEC filings.

SOURCE HEI, Inc.
Mack V. Traynor, CEO, or Steve E. Tondera, Jr., CFO, both of
HEI, Inc., +1-952-443-2500
http://www.heii.com

EX-99.4 6 c78250exv99w4.htm EX-99.4 PRESS RELEASE DATED JUNE 20, 2003

NEWS RELEASE

1495 Steiger Lake Lane
Victoria, Minnesota 55386 USA
952-443-2500

CONTACTS:		For Immediate Release
	Mack V. Traynor, CEO Steve E. Tondera, Jr., CFO

HEI, INC. ANNOUNCES DOUGLAS NESBIT AS NEW CFO EFFECTIVE JUNE 30, 2003

MINNEAPOLIS, Jun 20, 2003 / — HEI, Inc. (Nasdaq: HEII) ( www.heii.com ) today announced that it has accepted the resignation of CFO Steve Tondera, who is relocating to Florida in order to pursue other opportunities and be closer to family, and selected Douglas Nesbit to become its next CFO effective June 30, 2003. Steve Tondera has also resigned from the Board of Directors and will be assisting HEI during the transition of the new CFO.

“We wish Steve much success in his new endeavors,” Said Mack Traynor III, President and CEO of HEI, Inc. “and we are very happy to have the opportunity to secure Doug Nesbit as our future CFO. Doug brings with him great experience with public companies and over 20 years of progressive accounting.”

Mr. Nesbit most recently served as CFO, Treasurer and Corporate Secretary at LecTec, a health care and consumer products company based in Minnetonka, MN. Throughout his career, Doug has been a corporate Controller, been responsible for integrating business operations and overseeing the HR and IS functions.

About HEI, Inc.

HEI, Inc. designs, develops, and manufactures microelectronic, subsystem, system, connectivity, and software solutions. The Company’s unique range of capabilities in product realization give a competitive advantage to OEMs engaged in the medical device, hearing, biotechnology, healthcare information and communications industries. Web site: www.heii.com.

Microelectronics Division	PO Box 5000, 1495 Steiger Lake Lane, Victoria, MN 55386
Advance Medical Division	4801 north 63rd Street, Boulder CO 80301
High Density Interconnect Division	610 South Rockford Drive, Tempe, AZ 85281
RF Identification and Smart Card Division	1546 Lake Drive West, Chanhassen, MN 55317

FORWARD LOOKING INFORMATION
Information in this news release, which is not historical, includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements contained in this press release, including the results of the appointment of the new CFO, are forward looking statements. All of such forward-looking statements involve risks and uncertainties including, without limitation, adverse business or market conditions, the ability of HEI to secure and satisfy customers, the availability and cost of materials from HEI’s suppliers, adverse competitive developments, change in or cancellation of customer requirements, and other risks detailed from time to time in HEI’s SEC filings.

SOURCE HEI, Inc.
Mack V. Traynor, CEO, or Steve E. Tondera, Jr., CFO, both of
HEI, Inc., +1-952-443-2500
http://www.heii.com

EX-99.5 7 c78250exv99w5.htm EX-99.5 PRESS RELEASE DATED JULY 1, 2003

NEWS RELEASE

1495 Steiger Lake Lane
Victoria, Minnesota 55386 USA
952-443-2500

CONTACTS:		For Immediate Release
	Mack V. Traynor, CEO

HEI, INC. COMMENCES LITIGATION AGAINST
FORMER CHAIRMAN, CEO AND PRESIDENT

MINNEAPOLIS, July 1, 2003/PRNewswire-FirstCall/ — HEI, Inc. (Nasdaq: HEII) ( www.heii.com ) today announced that it has commenced a lawsuit against Anthony J. Fant, the former Chairman of the Board, Chief Executive Officer and President and a current director of HEI, in the State of Minnesota, Hennepin County District Court, Fourth Judicial District. The complaint alleges breach of contract, conversion, breach of fiduciary duty, unjust enrichment and corporate waste resulting from, among other things, Mr. Fant’s default on his promissory note to HEI and other loans from HEI in the total amount of approximately $681,000 and certain other matters. In the lawsuit, HEI seeks recovery of all amounts owed to HEI on the promissory note and the other loans from HEI, certain expenses incurred by HEI on behalf of Mr. Fant, and litigation costs and expenses. HEI intends to pursue its claims vigorously.

HEI also announced that its Board of Directors has established a Special Committee of independent directors to address all issues related to Mr. Fant. Mack Traynor, HEI’s Chief Executive Officer and President, commented on the reason for the formation of the Special Committee: “The Board of Directors concluded that it was critical to form a Special Committee of independent directors to consider these issues, given Mr. Fant’s continued role as a director of HEI and his prior position as the Chairman of the Board, Chief Executive Officer and President.” Mr. Traynor continued: “The Special Committee consists entirely of independent directors who have been given broad authority in connection with all issues relating to Mr. Fant, including the authority to commence litigation against Mr. Fant.”

HEI, Inc. designs, develops, and manufactures microelectronic, subsystem, system, connectivity, and software solutions. The Company’s unique range of capabilities in product realization give a competitive advantage to OEMs engaged in the medical device, hearing, biotechnology, healthcare information and communications industries. Web site: www.heii.com.

Microelectronics Division
Advance Medical Division
High Density Interconnect Division
RF Identification and Smart Card Division PO Box 5000, 1495 Steiger Lake Lane, Victoria, MN 55386
4801 North 63rd Street, Boulder CO 80301
610 South Rockford Drive, Tempe, AZ 85281
1546 Lake Drive West, Chanhassen, MN 55317

FORWARD LOOKING INFORMATION
Information in this news release, which is not historical, includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements contained in this press release, including, but not limited to, the merits or success of litigation, the likelihood of success in the litigation or the effect of litigation on HEI’s financial results, are forward looking statements. All of such forward-looking statements involve risks and uncertainties including without limitation, the ability of HEI to succeed on the merits of litigation, to continue to satisfy the financial and other covenants and requirements set forth in its banking agreements, adverse business or market conditions, the ability of HEI to secure and satisfy customers, the availability and cost of materials from HEI’s suppliers, adverse competitive developments, change in or cancellation of customer requirements, and other risks detailed from time to time in HEI’s SEC filings.

EX-99.6 8 c78250exv99w6.htm EX-99.6 PRESS RELEASE DATED JULY 2, 2003

NEWS RELEASE

1495 Steiger Lake Lane
Victoria, Minnesota 55386 USA
952-443-2500

CONTACTS:		For Immediate Release
	Mack V. Traynor, CEO Doug Nesbit, CFO

HEI, INC. ANNOUNCES ASSIGNMENT OF NEW CORPORATE EXECUTIVES

MINNEAPOLIS, July 2, 2003 / — HEI, Inc. (Nasdaq: HEII) ( www.heii.com ) today announced the promotion of Scott Stole to the position of Chief Technical Officer for the company. He joins Mack Traynor, CEO and President; Douglas Nesbit, CFO; Simon Hawksworth, VP of Sales and Marketing; Jim Vetricek, VP of the Advanced Medical Division, and Stephen Petersen, VP of Operations of the Microelectronics Division.

“I am very excited to have Scott Stole and the entire group of professionals leading our organization,” stated Mack Traynor, chief executive officer. “This executive team brings a wealth of experience in microelectronic and medical device development and manufacturing.”

Scott Stole, age 40, joined the company in October 2000 as Director of Advanced Process Development. Prior to joining HEI, he was President & CEO of Questek Innovations, Inc., a developer of advanced hardware technologies for the disk drive industry. Dr. Stole received his Ph.D. from Iowa State University and his Bachelors degree from Concordia College, and has 13 years of experience in the design, development, and manufacture of a wide range of microelectronics and advanced materials-related products.

About HEI, Inc.

HEI, Inc. designs, develops, and manufactures microelectronic, subsystem, system, connectivity, and software solutions. The Company’s unique range of capabilities in product realization give a competitive advantage to OEMs engaged in the medical device, hearing, biotechnology, healthcare information and communications industries. Web site: www.heii.com.

Microelectronics Division	PO Box 5000, 1495 Steiger Lake Lane, Victoria, MN 55386
Advanced Medical Division	4801 North 63rd Street, Boulder CO 80301
High Density Interconnect Division	610 South Rockford Drive, Tempe, AZ 85281
RF Identification and Smart Card Division	1546 Lake Drive West, Chanhassen, MN 55317

FORWARD LOOKING INFORMATION
Information in this news release, which is not historical, includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements contained in this press release, including the growth of specific markets, improved results and the estimated HEI revenue, cash flow and profits, are forward-looking statements. All of such forward-looking statements involve risks and uncertainties including, without limitation, adverse business or market conditions, the ability of HEI to secure and satisfy customers, the availability and cost of materials from HEI’s suppliers, adverse competitive developments, change in or cancellation of customer requirements, and other risks detailed from time to time in HEI’s SEC filings.

SOURCE HEI, Inc.
Mack V. Traynor, CEO
HEI, Inc., +1-952-443-2500
http://www.heii.com

EX-99.7 9 c78250exv99w7.htm EX-99.7 PRESS RELEASE DATED JULY 10, 2003

NEWS RELEASE

1495 Steiger Lake Lane
Victoria, Minnesota 55386 USA
952-443-2500

CONTACTS:	For Immediate Release
Mack V. Traynor, CEO
Doug Nesbit, CFO

HEI, INC. SIGNS AGREEMENT WITH CERNER CORPORATION

MINNEAPOLIS, July 10, 2003 /PRNewswire-FirstCall via COMTEX/ — HEI, Inc. (Nasdaq: HEII) (www.heii.com ) today announced it has signed an agreement with Cerner Corporation (Cerner) to develop and supply bedside healthcare integration products, including device integration components, for Cerner’s CareGuard™ solution. CareGuard™ is a handheld solution that combines clinical documentation, error prevention, and bedside device integration. The CareGuard™ solution will use HEI’s Link-iT™ technology to enhance real-time bedside data collection in various Cerner Millennium™ solutions.

The Link-it™ technology is unique in that it enables medical device OEMs and HCIT vendors to quickly add both wired and wireless connectivity and distributed software applications to their products.

“We initiated the Link-iT™ technology platform to enable more efficient and effective patient care,” stated Mack V. Traynor, CEO of HEI, Inc. “We are very pleased to partner with Cerner, the leading provider of clinical information systems in the United States. We share a common vision of improving clinical care through innovation in information technology.”

Cerner™, Cerner Millennium™ and CareGuard™ are trademarks of Cerner Corporation.

About HEI, Inc.

HEI, Inc. designs, develops, and manufactures microelectronic, subsystem, system, connectivity, and software solutions. The Company’s unique range of capabilities in product realization give a competitive advantage to OEMs engaged in the medical device, hearing, biotechnology, healthcare information and communications industries. Web site: www.heii.com.

Microelectronics Division
- - High Density Interconnect
- - RF Identification and Smart Card
Advanced Medical Division
PO Box 5000, 1495 Steiger Lake Lane, Victoria, MN 55386
610 South Rockford Drive, Tempe, AZ 85281
1546 Lake Drive West, Chanhassen, MN 55317
4801 North 63rd Street, Boulder CO 80301

FORWARD LOOKING INFORMATION
Information in this news release, which is not historical, includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements contained in this press release, including the growth of specific markets, improved results and the estimated HEI revenue, cash flow and profits, are forward looking statements. All of such forward-looking statements involve risks and uncertainties including, without limitation, adverse business or market conditions, the ability of HEI to secure and satisfy customers, the availability and cost of materials from HEI’s suppliers, adverse competitive developments, change in or cancellation of customer requirements, and other risks detailed from time to time in HEI’s SEC filings.

SOURCE HEI, Inc.
Mack V. Traynor, CEO and
Doug Nesbit, CFO, both of
HEI, Inc., +1-952-443-2500
http://www.heii.com

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