Former Alaris CEO To Head Cardinal’s Clinical Technologies & Services Group
This article was originally published in The Pink Sheet Daily
Executive Summary
David Schlotterbeck will oversee the new group, which incorporates clinical services & consulting, automation & information services and the newly acquired Alaris. Cardinal expects the reorganization to take place by Sept. 30.
|
Former Alaris Medical Systems CEO David Schlotterbeck will oversee Cardinal's "patient point-of-care strategy" as head of the new Clinical Technologies & Services group. Schlotterbeck will serve as chairman and CEO of the group, which integrates automation & information services (formerly a stand-alone reporting group), clinical services & consulting (formerly part of the pharmaceutical distribution & provider services group) and the recently acquired Alaris. Cardinal announced the $2 bil. acquisition of Alaris, an I.V. medication safety company, May 19. The deal closed July 7. Cardinal said that the acquisition represented "business as usual" despite an ongoing Securities & Exchange Commission probe into its accounting practices (1 (Also see "Cardinal Health Accounting Probe Has Broad Focus" - Pink Sheet, 17 May, 2004.)). The company subsequently issued a profit warning for the fiscal year ended June 30 and has delayed reporting its annual results (2 (Also see "Cardinal CFO Departs Amidst SEC, U.S. Attorney Investigations" - Pink Sheet, 26 Jul, 2004.)). When it announced the acquisition of Alaris, Cardinal said that Schlotterbeck would continue to run the subsidiary upon completion of the deal. The reorganization creating the Clinical Technologies & Services group is expected to take place during the first quarter of fiscal 2005 (which closes Sept. 30). Dwight Winstead, who has been serving as president-automation & information services, will serve as chief operating officer of the group and will report to Schlotterbeck. - Lee Kalowski |