Healthcare Industry News: Baxter International
News Release - December 14, 2006
Five Senior Executives to Join New Transfusion Therapy CompanyIndustry Veteran Hiroshi Uchida to Oversee Global Sales and Marketing for Independent Company
DEERFIELD, IL--(HSMN NewsFeed)--Ron K. Labrum, the incoming CEO of the new transfusion therapies company that will be formed following its acquisition from Baxter International Inc., today announced that Hiroshi Uchida and four additional senior executives will join the new company. The five executives will assume their roles when the business becomes a stand-alone entity, which is expected to happen in the first quarter of 2007. In October, it was announced that Texas Pacific Group (TPG) and Maverick Capital, Ltd. will acquire the transfusion therapies business from Baxter International Inc. and establish the business as an independent company.
Uchida, a leading executive in the health care technology industry, will oversee global sales and marketing for the new company. Uchida comes to the new transfusion therapies company from health care diagnostics firm Dade Behring, where he served as president of the Global Manufacturing Operations and Supply Chain. While there, he redesigned the company's business model and supply chain architecture to produce significant improvements in quality and efficiency and to make operations a genuine competitive advantage for the company. Prior to that, he spent ten years as a consultant in Tokyo, managing projects in healthcare, consumer goods, IT, telecommunications and heavy industries.
Labrum said, "Hiroshi is a well known player in this industry and his joining the new company underscores the future opportunities we see for the business. His expertise and reputation will be invaluable as we build on the 67 years of Transfusion Services experience as a trusted and knowledgeable partner for our customers."
In addition, Labrum announced the appointment of four other senior executives who will augment the existing management team when the company becomes independent.
- Michael Johnson will lead the finance team. He most recently served as vice president and corporate controller for Dade Behring, Inc.
- Mathew Monaghan will head business integration. He brings extensive experience in mergers and acquisitions gained in his roles as president of Fund-1 LLC, principal of Cerberus/TenX Capital Partners and with the General Electric Company. He also held numerous management positions with GE, including general manager of CT image analysis software for GE Medical Systems, and manager of business development for GE Aircraft Engines.
- Tony Orsini will lead global manufacturing and supply chain. He is a seasoned operations executive with fifteen years of supply chain management experience, including six years as senior vice president, global operations and engineering for healthcare equipment manufacturer Hill-Rom.
- Christopher Visick will head the company's legal function. He was most recently acting general counsel at General Electric Healthcare's Global Diagnostic Imaging business.
Labrum continued, "The willingness of executives of this caliber to join the company before the completion of the acquisition demonstrates their confidence in the strength of this business and its potential for long-term growth. This company has a long history of developing market-changing technologies, and the new management team is looking forward to building upon the company's strong industry relationships around the world, and charting the course for the future of transfusion medicine."
TPG and Maverick are acquiring the assets of the Transfusion Therapies business, an innovator and leading global provider of products that are used by hospitals, blood banks and plasma-collection centers to collect and process blood components for therapeutic use. Current product development is focused on systems that facilitate the process of cell separation using automated methods, systems to remove leukocytes (white cells) from blood components, and other processes to aid in ensuring a safe and available global blood supply.
The deal is subject to regulatory approval and other customary closing conditions.
Note: bios of the five executives available upon request.
Source: Texas Pacific Group
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