Medical analyst sheds Wall Street fixation

Industry executives disturbed by financial analysts' quarterlyfixation might be interested to know that some analysts preferto think long-term. A 21-year veteran health-care analyst haslaunched his own consulting business and is refreshed by the changeof focus to business fundamentals.

"Getting out of the morass of quarterly earnings has changedmy life for the better," said Larry Haimovitch, presidentof Haimovitch Medical Technology Consultants in San Francisco."Not to have to pick stocks all the time and follow companiesfor their strategic direction, management styles, technology andcompetitive environment is a lot of fun."

Haimovitch served most recently as a managing director andmedical technology analyst with Furman Selz, a division of XeroxFinancial Services. The analyst has not left finance completely,but will continue to follow public and private medical companiesas a consultant to Furman Selz on investment banking and corporatefinance issues.

Haimovitch also offers his medical equipment expertise to avariety of clients for evaluation of business strategies and markets.His clients include venture capitalists, equipment companies anda large hospital chain, National Medical Enterprises (NME) ofLos Angeles.

"I provide consulting services in four or five key medicaltechnology areas. These include diagnostic imaging, ophthalmology,lasers, patient monitoring, urology and a bit in orthopedics,"he said.

Haimovitch is a member of the Technology Assessment Committeeof the NME hospital chain, which provides input to senior managementon health-care trends and government regulatory issues.

"They (NME) spend about $225 million a year on equipmentpurchases for their hospitals. While these purchase decisionsare mostly driven from the local (hospital) level, it is helpfulto have input on a national, corporate level as well. They arelooking for marketing advantages through technology assessment."

Technology assessment can help hospitals catch the wave ofdemand for particular medical services, such as bone densitometry,he said.

"X-ray bone densitometry will start catching on over thenext couple of years in the U.S. because of (Medicare) reimbursement,which has a chance of happening, and the availability of (therapeutic)drugs," Haimovitch said. "It is to NME's advantage froma competitive standpoint to realize this may happen, so they canposition themselves early to serve women's health issues. Thiscould be tied into mammography as well."

BRIEFLY NOTED:

• Folke Lindberg, former general manager of Instrumentarium'sPalomex division in Helsinki, was named president of InstrumentariumImaging in Milwaukee last week. He replaces Russell Thompson,who resigned.

Although Lindberg was in Milwaukee last week, the Finnish executivewill not relocate to this country on a full-time basis.

• Richard M. Ferrari resigned from his position as presidentand COO of Medstone last month. Ferrari left his position as executivevice president at ADAC Laboratories last year to move to the strugglinglithotripsy firm (SCAN 5/9/90). The move came amid declining revenuesat ADAC.

"The recent suspension of the gallstone lithotripsy program(SCAN 12/12/90) reduced the scope of Medstone's shockwave therapybusiness, and prompted me to pursue other personal growth opportunities,"Ferrari said.

Medstone has not yet hired a replacement for Ferrari, accordingto Donald Hill, a director of the Costa Mesa, CA, company. "Theboard is wrestling with a new game plan. It will unfold when itunfolds," he told SCAN.

Ferrari's former boss at ADAC, Robert L. Deinhammer, resignedfrom his position as president and COO last month. He remainsa director of the company and will serve as a consultant.

• Dennis C. Fill, chairman and CEO of Westmark International,was named chairman and president of Westmark's ATL ultrasoundsubsidiary last week. Two former ATL presidents, Allen W. Guisingerand Eugene A. Larson, have been named executive vice presidents.

This reorganization will allow Guisinger to focus on worldwidesales, service and marketing functions. Larson, who had left thecompany a year ago (SCAN 11/22/89), returns to ATL with responsibilitiesfor strategic planning, technology and product development.