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Former NutriSystem CEO Michael Hagan Breaks into Home Security Market

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Posted June 2, 2010

Like NutriSystem Revolutionized the Diet Category, LifeShield Security is Poised to Steal Market Share from ADT and Broadview Customers with its Direct-to-Consumer Model

YARDLEY, Pa.--(BUSINESS WIRE)-- LifeShield Security™, the world’s first all digital home security system announced today that Michael Hagan has joined the company as President and Chief Executive Officer. Formerly called InGrid Home Security, LifeShield is also the first national, professional grade and professionally monitored wireless security system that is easy to set up through a simple “plug and protect” process. LifeShield also boasts superior protection as well as being the best value in home security.

Hagan chose LifeShield after meeting the company’s founder, Louis Stilp and taking a closer look at the current $15 billion home security market. Hagan made a significant investment in the company in 2009 and joined Stilp to take the business to the next level. Recognizing that LifeShield offers all of the services of the major national home security brands, in an industry-first wireless platform, and at half the price, convinced Hagan that he was taking the helm of a company that could finally make home security affordable and reliable.

“I looked at a variety of opportunities and was happy to see that, despite the economy, there was a lot of deal flow out there,” noted Hagan. “What first attracted me to LifeShield was Lou Stilp. Lou’s truly an industry visionary and the products and technologies that he first conceived in 2004 are now poised to transform this industry. My attraction to LifeShield only grew because aside from the market-changing technology behind the product, it offered an e-commerce, direct-to-customer platform. In the home security market, this is especially exciting because there is a huge opportunity to deliver cost savings back to consumers who have been getting slammed by national security companies for years, simply because there was no affordable, trust-worthy option. Partnering with Lou Stilp to drive this company to the next level will be an exhilarating ride.”

Prior to joining LifeShield, Hagan served as Chairman of the Board of NutriSystem, Inc. from December 2002 to November 2008 and as Chief Executive Officer from December 2002 to May 2008. Hagan led a team that turned around a struggling $27 million weight loss company in 2002 into a leading weight loss provider that reached $778 million in sales by 2007. Hagan and his team repositioned NutriSystem and focused the company on direct-to-consumer, e-Commerce, and the company earned many distinctions including Forbes magazine’s #1 ranking in best public small companies in 2006. Hagan earned a front cover feature and the title “Entrepreneur of the Year” in that same issue.

Hagan brings with him to LifeShield some key sales and marketing people from NutriSystem, as they’ll be working from the same “playbook” – significant TV and print advertising presence while driving consumers to their web site and call center to complete the sale.

“No other home security system is better designed to fully leverage broadband and wireless connectivity. As a result, LifeShield gives customers better protection, reliability, and superior control compared to traditional analog-based security systems,” said Hagan. “And unlike those traditional security systems, LifeShield is completely wireless so it’s ideal for renters, homeowners and small business owners and has multiple use benefits. Think of how wireless Internet technology completely changed how people use computers. LifeShield’s wireless technology can do the same for the national home security market.”

Before NutriSystem, Hagan co-founded Verticalnet, Inc., a technology firm that provides supply management software and also created and managed industry specific “vertical” marketplaces. Hagan retired as Chief Executive Officer in February 2002 and as Chairman of the Board in May 2005.

“For the past 15 years, I have been fortunate to work with a start-up technology company and an existing brand in need of a turn-around strategy. LifeShield is at the intersection of those: smart technology and innovation in its direct-to-consumer approach,” added Hagan. “The industry leaders in the home security market have stuck it to customers for a long time through long-term binding contracts, inefficiencies, and expensive installation and monitoring fees. Essentially, we are going to change the paradigm in a category that’s been resistant to change. Like Nutrisystem and VerticalNet, this is another case of a category that simply doesn’t need a middleman.”

LifeShield Security™, formerly called InGrid Home Security, is the world’s first all digital home security system. LifeShield is the first national, professional grade and professionally monitored wireless security system that uses an easy to set-up “plug and protect” process, providing superior home protection and the best value in total home security. For more on LifeShield Security, visit www.lifeshield.com.

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