CardioNet, Inc. (CardioNet) board has appointed Randy Thurman, currently the board's executive chairman, as interim president and chief executive officer (CEO) of the company, effective January 26, 2009. Most recently, Thurman served as chairman and CEO of VIASYS Healthcare Inc. (VIASYS). The board also announced that it has commenced a search for a permanent replacement for departing President and CEO, Arie Cohen, who has left the company to pursue other interests.
From VIASYS’ successful IPO in 2001 to 2007, he spearheaded an aggressive growth strategy that increased the company’s revenues from $320 million to $700 million and positioned the company to consummate twelve strategic acquisitions over a six-year period. His management also enabled VIASYS to expand its enterprise value more than fourfold during that time. In 2007, VIASYS was named by Smart Money as one of the “Ten Stocks for the Next Ten Years.”
Before joining VIASYS, Thurman was chairman of the board and CEO of Corning Life Sciences. Prior to this, Thurman was president of Rhone-Poulenc Rorer Pharmaceuticals Inc. Thurman was named by Ernst and Young as Entrepreneur of the Year in healthcare technology in 2007. He is presently senior advisor to New Mountain Capital, LLC.
Thurman said, “I believe CardioNet is one of the most exciting opportunities in the medical technology arena. I am pleased to accept the position as Interim President and Chief Executive Officer and to work with the other Board members to identify a permanent CEO to lead CardioNet. The Board’s mission is to recruit an executive with the skills to lead our experienced management team in leveraging the CardioNet System and building a world class organization focused on providing the physician community with the best-in-class wireless monitoring system that allows for the more effective diagnosis and management of arrhythmias. I believe there is substantial opportunity for adoption of this state-of-the-art technology by new physicians and payers through increased conversion from event monitoring devices and greater overall utilization of our system in physicians’ practices. In the interim, I will provide the leadership, working closely with the existing management team, to assure that CardioNet’s business remains robust and that we continue to make progress on our business plan. Also, I will remain as Executive Chairman to work with the new CEO.
“I want to thank Arie for his commitment to CardioNet and his leadership in bringing the Company to public ownership. We wish him the best in his future endeavors.”
Additionally, the company reconfirmed its full year 2008 revenue guidance at the high end of the range of $117.0 million to $120.0 million.