Healthcare Industry News: Volcano Corporation
News Release - January 2, 2008
Kieran Gallahue Appointed Chief Executive Officer of ResMedDr. Peter Farrell becomes Executive Chairman of the Board
SAN DIEGO, Jan. 2 (HSMN NewsFeed) -- ResMed Inc. (NYSE: RMD ) announced today that effective January 1, 2008, its board of directors has appointed Kieran T. Gallahue to serve on its board of directors and act as President and Chief Executive Officer in accordance with the succession plan previously announced on August 30, 2007. Mr. Gallahue, 44, succeeds company founder Dr. Peter C. Farrell, 65, who will continue serving as Executive Chairman of the Board.
"I am very confident in Kieran's ability to provide the strong leadership and insight required to drive the success of the business going forward," Dr. Farrell stated. "As Chairman, I intend to remain significantly engaged in the Company's long-term mission of lifting the veil of ignorance on the detrimental health consequences of untreated sleep-disordered breathing."
"ResMed has tremendous potential given its leading technology platforms and talented team, and we intend to leverage these strengths to maintain a robust product pipeline," said Gallahue. "I look forward to developing these opportunities and realizing the company's vision to create significant value for patients, our healthcare system, as well as our shareholders."
Mr. Gallahue has been President, ResMed Global, since September 7, 2004 and currently is a member of the board of directors for Volcano Corporation, a NASDAQ-listed company focusing on diagnosis and treatment of vascular and structural heart disease. Mr. Gallahue holds a BA from Rutgers University and an MBA from Harvard Business School.
ResMed is a leading manufacturer of medical equipment for the treatment and management of sleep-disordered breathing and other respiratory disorders. We are dedicated to developing innovative products to improve the lives of those who suffer from these conditions and to increasing awareness among patients and healthcare professionals of the potentially serious health consequences of untreated sleep-disordered breathing.
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