Healthcare Industry News: Procter & Gamble
News Release - November 10, 2006
Cardinal Health Names Mark Parrish CEO of Healthcare Supply Chain ServicesDUBLIN, Ohio, Nov. 10 (HSMN NewsFeed) -- Cardinal Health, the leading provider of products and services supporting the health-care industry, announced today that Mark Parrish has been named chief executive officer of the company's $77-billion Healthcare Supply Chain Services sector, reporting to President and CEO R. Kerry Clark.
Parrish, 51, previously was the group president of Healthcare Supply Chain Services' Pharmaceutical segment. In his new role, which is effective immediately, Parrish is responsible for all of Cardinal Health's supply chain units, which comprise the nation's largest provider of pharmaceuticals, medical equipment, and supplies. The company's customers include retail and independent pharmacies, hospitals, laboratories, and physician offices.
"We conducted an extensive internal and external candidate search for this critical position and we are pleased to promote the best candidate from within the company," Clark said. "The board and I unanimously agreed that Mark has what we and the industry need to bring progressive supply chain practices to health care."
Cardinal Health has embarked on an ambitious strategy to integrate its supply chain operations along with a broad range of related logistics services that improve the delivery and economics of health care.
Healthcare Supply Chain Services is Cardinal Health's largest business, distributing products from 3,000 manufacturers of pharmaceuticals, medical supplies and equipment to pharmacies, hospitals, clinics, and lab customers every day. In fiscal 2006, the company reported nearly $70 billion in revenue from pharmaceutical supply chain services and $7.2 billion in revenue from medical supply chain services.
"We have a truly unique opportunity to bring to the industry a systematic approach to the management of pharmaceuticals and supplies," Mark Parrish said. "We have the potential to meaningfully improve economics for our suppliers and customers, while helping them achieve other goals associated with patient and practitioner safety and satisfaction."
Parrish's career in health care spans nearly 25 years. Last month he was elected chairman of the Healthcare Distribution Management Association.
Mark Parrish joined Cardinal Health in 1993. Since 2003, he led Cardinal Health's pharmaceutical distribution businesses, including all of its offerings for retailers, mail-order firms, long-term care and hospital pharmacies, pharmacy-franchising operations, specialized blood-product distribution, and logistics services for pharmaceutical and biotech firms. Before this, Parrish held several leadership positions in Cardinal Health's pharmaceutical distribution and pharmacy-franchising units. He joined Cardinal Health after positions of increasing leadership at Foxmeyer Health Corp., General Medical Corp., Bergen Brunswig Corp., and Procter & Gamble. He holds a bachelor's degree from the University of California, Berkeley.
Parrish fills the position held by Ronald K. Labrum, who left Cardinal Health in September.
About Cardinal Health
Headquartered in Dublin, Ohio, Cardinal Health, Inc. (NYSE: CAH ) is an $81 billion, global company serving the health-care industry with a broad portfolio of products and services. It manufactures, packages, and distributes pharmaceuticals and medical supplies, offers a range of clinical services and develops automation products that improve the management and delivery of supplies and medication for hospitals, physician offices and pharmacies. Through this diverse offering, Cardinal Health delivers integrated health-care solutions that help customers reduce their costs, improve efficiency and deliver better care to patients. Ranked No. 19 on the Fortune 500, Cardinal Health employs more than 55,000 people on six continents. More information about the company may be found at www.cardinalhealth.com.
Except for historical information, all other information in this news release consists of forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These forward- looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected, anticipated or implied. The most significant of these uncertainties are described in Cardinal Health's Form 10-K, Form 10-Q and Form 8-K reports (including all amendments to those reports) and exhibits to those reports, and include (but are not limited to) the following: competitive pressures in its various lines of business; the loss of one or more key customer or supplier relationships or changes to the terms of those relationships; changes in the distribution patterns or reimbursement rates for health-care products and/or services; the results, consequences, effects or timing of any inquiry or investigation by or settlement discussions with any regulatory authority or any legal and administrative proceedings, including shareholder litigation; difficulties in opening new facilities or fully utilizing existing capacity; the costs, difficulties and uncertainties related to the integration of acquired businesses; and general economic and market conditions. Except to the extent required by applicable law, Cardinal Health undertakes no obligation to update or revise any forward-looking statement.
Source: Cardinal Health
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