CardioNet, Inc. Appoints Joseph H. Capper President and Chief Executive Officer
June 15 2010 - 8:30AM
Business Wire
CardioNet, Inc., (NASDAQ:BEAT), a leading wireless medical
technology company with an initial focus on the diagnosis and
monitoring of cardiac arrhythmias, announced today that its Board
of Directors has appointed Joseph H. (Joe) Capper as President and
Chief Executive Officer, effective immediately. He succeeds Randy
H. Thurman who remains Chairman of the Board of Directors.
On behalf of the CardioNet, Inc. Board of Directors, Randy
Thurman, Chairman, said, “After a thorough and comprehensive
search, CardioNet was fortunate to identify Joe as an excellent
candidate with the experience and track record to join CardioNet as
our President and CEO. Joe brings an outstanding background as CEO
of medical diagnostic companies and has an excellent foundation in
sales from his early Bayer experience. As importantly, Joe has
established himself as a strategically-oriented leader with a
history of generating results and stakeholder value. His corporate
and military background demonstrates his hands-on approach, strong
sense of character, values and ability to lead organizations.
CardioNet’s technology, strong balance sheet and leadership in its
industry are well served by Joe’s appointment as CEO.”
Mr. Capper was previously President, Chief Executive Officer and
member of the Board of Directors of Home Diagnostics, Inc.
previously a NASDAQ listed company that is a leading developer,
manufacturer and marketer of diabetes management products. Mr.
Capper joined Home Diagnostics, Inc. in 2009 and positioned the
Company for a strategic merger in a transaction that created
substantial value to its stakeholders. During his tenure as CEO,
Home Diagnostics, Inc. was the leader in its industry segment and
consistently exceeded revenue and earnings expectations.
Prior to Home Diagnostics, Mr. Capper was President and CEO of
CCS Medical Inc. a private company that is a leading provider of
medical supplies in diabetes, wound care, respiratory and other
therapeutic categories. CCS Medical, Inc. is one of the largest
providers of diabetes and respiratory testing supplies to Medicare
beneficiaries. During Mr. Capper’s tenure as CEO, revenues grew
from $60 million to over $500 million through organic growth and
acquisitions.
Mr. Capper remarked, “I am excited to have this tremendous
opportunity to join CardioNet and work with the outstanding team
that Randy has put in place. CardioNet’s MCOT™ system has been
gaining traction in the medical community as the leading wireless
technology for monitoring cardiac arrhythmias and is one of the
most innovative technologies in healthcare. I look forward to
utilizing my years in the medical diagnostic arena to drive MCOT™
adoption and leverage our platform to build the leading company in
wireless medicine.”
Earlier in his career, Mr. Capper spent nine years with Bayer
Corporation, ultimately becoming National Sales Director of the
Diabetic Products Division where he led a 180 person sales
organization with responsibility for over $350 million in revenue.
Mr. Capper also has a distinguished service record having served in
the U.S. Navy as a combat aviator and subsequently as a
Congressional Liaison. Mr. Capper has a B.S. degree in Accounting
from West Chester University and a M.B.A. in International Finance
from George Washington University.
About CardioNet
CardioNet is the leading provider of ambulatory, continuous,
real-time outpatient management solutions for monitoring relevant
and timely clinical information regarding an individual's health.
CardioNet's initial efforts are focused on the diagnosis and
monitoring of cardiac arrhythmias, or heart rhythm disorders, with
a solution that it markets as Mobile Cardiac Outpatient TelemetryTM
(MCOT™). More information can be found at
http://www.cardionet.com.
Forward Looking Statements
This press release includes certain forward-looking statements
within the meaning of the "Safe Harbor" provisions of the Private
Securities Litigation Reform Act of 1995 regarding, among other
things, our growth prospects, the prospects for our products and
our confidence in the Company’s future. These statements may be
identified by words such as “expect,” “anticipate,” “estimate,”
“intend,” “plan,” “believe,” ”potential,” “promises” and other
words and terms of similar meaning. Such forward-looking statements
are based on current expectations and involve inherent risks and
uncertainties, including important factors that could delay,
divert, or change any of them, and could cause actual outcomes and
results to differ materially from current expectations. These
factors include, among other things, the success of our efforts to
address the operational issues, including cost savings initiatives,
changes to reimbursement levels for our products and the success of
our attempts to achieve a national rate from CMS, the success of
our sales and marketing initiatives, our ability to attract and
retain talented executive management and sales personnel, our
ability to identify acquisition candidates, acquire them on
attractive terms and integrate their operations into our business,
the commercialization of new products, market factors, internal
research and development initiatives, partnered research and
development initiatives, competitive product development, changes
in governmental regulations and legislation, the continued
consolidation of payors, acceptance of our new products and
services and patent protection and litigation. For further details
and a discussion of these and other risks and uncertainties, please
see our public filings with the Securities and Exchange Commission,
including our latest periodic reports on Form 10-K and 10-Q. We
undertake no obligation to publicly update any forward-looking
statement, whether as a result of new information, future events,
or otherwise.
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