Healthcare Industry News: Alaris
News Release - August 13, 2007
Cardinal Health Names Vivek Jain To Lead Strategy, Corporate DevelopmentDUBLIN, Ohio, Aug. 13 (HSMN NewsFeed) -- Cardinal Health, a global provider of products and services that improve the safety and productivity of health care, today announced the appointment of Vivek Jain as executive vice president of strategy and corporate development.
Jain, 35, will be responsible for long-range planning and mergers and acquisitions that complement the company's organic growth goals. He will report to R. Kerry Clark, chief executive officer of Cardinal Health.
Jain will join Cardinal Health on August 20 from Philips Medical Systems, an $8 billion company division of Koninklijke Philips Electronics N.V., where he most recently served as senior vice president of health-care strategy and business development. He replaces Brendan Ford, 49, who is retiring from the company after 16 years in the legal and corporate development functions.
"Since 1991, Brendan has helped Cardinal Health grow from a $1 billion company to more than $85 billion," said Clark. "His leadership and strategic focus have been key to our success, and we thank him for building the foundation of disciplined principles and processes for the company's mergers and acquisitions."
Jain is a 13-year veteran of the health-care industry with a broad range of strategic planning and merger experience for pharmaceutical and medical device companies. Prior to Philips, he was an investment banker at JP Morgan Securities or its predecessor companies for more than a decade. In 2002, he was named co-head of the global health-care investment banking group and has been primarily focused on the pharmaceutical, medical device and diagnostics sectors for his entire career.
Jain earned a bachelor's degree in economics from the University of Chicago.
About Cardinal Health
Headquartered in Dublin, Ohio, Cardinal Health, Inc. (NYSE: CAH ) is an $87 billion, global company serving the health-care industry with products and services that help hospitals, physician offices and pharmacies reduce costs, improve safety, productivity and profitability, and deliver better care to patients. With a focus on making supply chains more efficient, reducing hospital-acquired infections and breaking the cycle of harmful medication errors, Cardinal Health develops market-leading technologies, including Alaris® IV pumps, Pyxis® automated dispensing systems, MedMined(TM) data mining surveillance and the CareFusion(TM) patient identification system. The company also manufactures medical and surgical products and is one of the largest distributors of pharmaceuticals and medical supplies worldwide. Ranked No. 19 on the Fortune 500 and No. 1 in its sector on Fortune's ranking of Most Admired firms, Cardinal Health employs more than 40,000 people on five continents. More information about the company may be found at www.cardinalhealth.com.
Source: Cardinal Health
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