Sunrise, SeQual make key hires

Sunday, July 15, 2007

LONGMONT, Colo. – Fresh on the heels of a reorganization into two separate divisions—mobility and respiratory—Sunrise Medical CEO and Chairman Mike Hammes stepped aside to let a newcomer oversee the company’s day-to-day operations.

Sunrise introduced Michael Cannizzaro last week as its new president, CEO and vice chairman of the board. He’ll run Sunrise Mobility and oversee DeVilbiss Healthcare, which will continue to be managed by Kees Regeling, its president and CEO.

Hammes will remain chairman of Sunrise’s board of directors.

Cannizzaro has served as CEO of several healthcare businesses, including Insight Health Services, National Nephrology Associates and Beltone Electronics Corporation. Most recently, he was operating partner at J.W. Childs Associates, a Boston private equity firm where he advised on acquisitions and management of a variety of healthcare companies.

In a press release announcing the hire, Hammes stated that “the timing of Mike’s appointment relates directly to the evolution of our business strategy and direction.”

In announcing its reorganization into two division in May, Hammes stated that the move will allow Sunrise to bring additional levels of expertise and service to respiratory and mobility providers. That, in turn, will help providers navigate through the reimbursement and regulatory challenges they now face, he said.

Jim Elrod, a director of Sunrise Medical and managing director of Vestar Capital Partners, a large investor in the company, stated:

“Success in today’s healthcare environment requires a solid understanding of underlying clinical solutions, reimbursement, competitive dynamics and the changing patterns of distribution. We are very pleased to attract someone with Mike Cannizzaro’s experience. Mike has the ability to build upon the solid foundation that Mike Hammes developed in creating highly attractive, focused businesses from the historical operations of Sunrise Medical.”

SAN DIEGO – SeQual Technologies has landed Ron Richard, a key ResMed executive to replace Ed Radtke, the founder and current vice president of marketing and sales. Radtke recently retired.

Prior to joining SeQual, Richard served as senior vice president of strategic marketing for the Americas at ResMed. He brings with him more than 30 years of experience and knowledge of respiratory, pulmonary and sleep medicine. His title at SeQual: senior vice president of marketing and sales. Richard joins SeQual July 16.

Richard started as a therapist at the Wesley Medical Center in Wichita, Kan. He then helped found a distributor of respiratory products and held a number of senior marketing positions at Nellcor Puritan Bennett, Total Sleep Diagnostics and Thermo Medical Inc. At ResMed, he helped grow sales of its sleep-disordered breathing devices at a rate of 25% a year.

SeQual CEO Jim Bixby said Richard knows the industry from the ground up.

“He began his medical career as a respiratory therapist and has advanced steadily through the ranks of several notable institutions and companies,” said Bixby. “His insights will help SeQual in working with every aspect of the market—from the patient to the therapist to the provider.”

Radtke will continue to serve as a consultant to the company.

“We have nothing but praise for Ed and are incredibly fortunate to have had his wise advice and counsel over the years,” Bixby said.