Healthcare Industry News: Baxter International
News Release - January 30, 2006
McKesson Announces Management Changes in Pharmaceutical Solutions and Medical-Surgical SolutionsSAN FRANCISCO--(HSMN NewsFeed)--Jan. 30, 2006--McKesson Corporation (NYSE:MCK ), the world's leading healthcare services company, today announced a series of management changes in its Pharmaceutical Solutions and Medical-Surgical Solutions segments reporting to Paul Julian, executive vice president and group president. Effective April 1, the start of McKesson's new fiscal year, these executives will have new roles:
- John Figueroa, president of Retail National Accounts for U.S. Pharmaceutical Distribution, becomes president, U.S. Pharmaceutical Distribution, a position previously filled by Julian in addition to his other responsibilities.
- Gary Muensterman, president, McKesson Medical-Surgical, becomes senior vice president, Corporate Strategy and Business Development, reporting to Marc Owen, executive vice president, Corporate Strategy and Business Development.
- Brian Tyler, president, McKesson Specialty Pharmaceutical, becomes president, McKesson Medical-Surgical.
- Patrick Blake, president, Customer Operations for U.S. Pharmaceutical Distribution, becomes president, McKesson Specialty Pharmaceutical, McKesson Pharmacy Systems and Automated Prescription Systems.
Claudio Bussandri, president, McKesson Canada, Emad Rizk, president of McKesson Health Solutions, the company's payor business, and Eleonore Saenger, president of McKesson Medication Management, continue to report to Julian.
"Paul and his team have delivered market-leading performance in our U.S. and Canadian pharmaceutical distribution businesses, and we continue to gain market momentum in our medical-surgical business," said John H. Hammergren, chairman and chief executive officer of McKesson. "They have improved our quality of service, relationships with suppliers and cost structure by developing sound strategies which they executed flawlessly. These new assignments are designed to continue our growth and value creation while strengthening the company's leadership for the future."
Figueroa joined McKesson in 1997 as a sales executive for McKesson Health Systems. He was later named regional vice president for the Western Region of U.S. Pharmaceutical Distribution. In 2002, he became president, Retail National Accounts, a position in which he strengthened McKesson's relationships and market share among retail drug chains, mass merchandisers and food-drug retailers. Under his leadership, this business increased from $24 billion to $44 billion annually. He was also responsible for the company's retail and institutional packaging operations. He was previously a sales executive at Baxter International.
Muensterman joined McKesson in 2000 as executive vice president, McKesson Carrollton Financial Services, the company's centralized financial services operation, where over a two and one-half-year period he significantly improved the quality and effectiveness of these operations. In 2002, he became president of McKesson Medical-Surgical. Prior to McKesson, he headed the financial service operations of Allegiance Corporation.
Tyler joined McKesson in 1997 in business development for McKesson Health Systems. From 2000 to 2003, he was senior vice president, McKesson Supply Solutions. In 2003, he was named president, McKesson Specialty Pharmaceutical, which has grown significantly under his leadership. Prior to McKesson, he was an industry consultant.
Blake joined McKesson in 1996 as a sales executive for McKesson Health Systems. In 1999, he was named president, McKesson Health Systems, which continues to report to him since he became president, Customer Operations in 2001. Under his leadership, McKesson's institutional pharmaceutical distribution business has grown from $3 billion to $16 billion. He has also led a successful program to cross-sell retail automation and pharmacy systems to independent pharmacy customers for which he is also responsible. Prior to McKesson, he was a sales executive with Baxter International.
McKesson Corporation (NYSE:MCK ), currently ranked 15th on the FORTUNE 500, is a healthcare services and information technology company dedicated to helping its customers deliver high-quality healthcare by reducing costs, streamlining processes and improving the quality and safety of patient care. Over the course of its 173-year history, McKesson has grown by providing pharmaceutical and medical-surgical supply management across the spectrum of care; healthcare information technology for hospitals, physicians, homecare and payors; hospital and retail pharmacy automation; and services for manufacturers and payors designed to improve outcomes for patients. For more information, visit us at www.mckesson.com.
Except for historical information contained in this press release, matters discussed may constitute "forward-looking statements", within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, that involve risks and uncertainties that could cause actual results to differ materially from those projected, anticipated or implied. These statements may be identified by their use of forward-looking terminology such as "believes", "expects", "anticipates", "may", "should", "seeks", "approximates", "intends", "plans", "estimates" or the negative of these words or other comparable terminology. The most significant of these risks and uncertainties are described in the company's Form 10-K, Form 10-Q and Form 8-K reports filed with the Securities and Exchange Commission and include, but are not limited to: the resolution or outcome of pending shareholder litigation regarding the 1999 restatement of our historical financial statements; the changing U.S. healthcare environment, including the impact of potential future mandated benefits; changes in private and governmental reimbursement or in the delivery systems for healthcare products and services; governmental efforts to regulate the pharmaceutical supply chain; changes in pharmaceutical and medical-surgical manufacturers' pricing, selling, inventory, distribution or supply policies or practices; changes in customer mix; substantial defaults in payment or a material reduction in purchases by large customers; challenges in integrating and implementing the company's software and software system products, or the slowing or deferral of demand for these products; the company's ability to success identify, consummate and integrate strategic acquisitions; changes in generally accepted accounting principles (GAAP); foreign currency fluctuations; and general economic conditions. The reader should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The company assumes no obligation to update or revise any such statements, whether as a result of new information or otherwise.
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