In business, you’re often only as good as your last deal.
And Randy H. Thurman’s last one was impressive.
A year ago, Cardinal Health Inc. bought the Conshohocken company he ran, Viasys Healthcare Inc., for $1.5 billion. He remained with the Dublin, Ohio drug distributor during the transition.
Last week, Thurman got a new challenge in the health-care business that will keep him in Conshohocken.
He was named executive chairman of CardioNet Inc., a small provider of cardiac arrhythmia monitoring services. He was tapped by the board just before his non-compete agreement with Cardinal expired July 12.
Not that Cardinal Health, which had $87 billion in revenue in fiscal 2007, has much to fear from CardioNet, which had $73 million in revenue.
Thurman, 58, had run Viasys for about six years after it was spun off by Thermo Electron Corp. He’d directed a series of deals that focused Viasys on four business, including its biggest - ventilators and other respiratory care equipment.
Thurman was also the president and CEO of Rhone-Poulenc Rorer Inc. during the early ’90s, before it became part of what is now called Sanofi-Aventis.
In joining CardioNet, Thurman is being reunited with CardioNet president and CEO Arie Cohen, who’d held several executive positions at Viasys. Cohen joined CardioNet in November, succeeding the company’s founder, James Sweeney.
During Sweeney’s tenure, CardioNet raised a whopping $250 million in capital.
CardioNet netted about $47 million in its initial public offering March 25. Still based in San Diego, the company has had its major electrocardiogram monitoring center operation in Conshohocken since 2002.
Thurman is not an officer of CardioNet, but he’ll get paid like one. He’ll receive $250,000 per year and options to buy 185,000 shares of common stock.
Mike Armstrong, a business editor and writer for nearly two decades, is the Inquirer's business columnist and PhillyInc blog editor. Contact Mike via e-mail or at 215-854-2980
- Philly Skyline
- Delaware Business Blog
- PlanPhilly
- Changing Skyline
- Dangerously Awesome
- Greater Philly chamber
- Consumer Inq
- Freakonomics
- Oddly Enough
- Philly PharmaBio Blog
- Physicians News Digest
- Pharmalot
- BloggingStocks
- 10Q Detective
- PhiLAWdelphia
- Delaware Corp Litigation Blog
- Philadelphia Forward
- Great Expectations
- SEPTA Watch
- PhillyFuture
- Comcast Must Die
- Philly Geeks
- Philadelphia Tech News
- Broadband Reports
- Phila Road Warrior
- February
- January
- December 2011
- November 2011
- October 2011
- September 2011
- August 2011
- July 2011
- June 2011
- May 2011
- April 2011
- March 2011
- February 2011
- January 2011
- December 2010
- November 2010
- October 2010
- September 2010
- August 2010
- July 2010
- June 2010
- May 2010
- April 2010
- March 2010
- February 2010
- January 2010
- December 2009
- November 2009
- October 2009
- September 2009
- August 2009
- July 2009
- June 2009
- May 2009
- April 2009
- March 2009
- February 2009
- January 2009
- December 2008
- November 2008
- October 2008
- September 2008
- August 2008
- July 2008
- June 2008
- May 2008
- April 2008
- March 2008
- February 2008
- News | Sports | Business | What's Happening | Restaurants & Food | Entertainment | Living | Marketplace | Jobs
