OEC taps new chief executive
OEC Medical Systems has named Joseph Pepper president and CEO of the Salt Lake City developer of mobile C-arm systems. Pepper joins OEC after 10 years in senior management with Ohmeda, an anesthesia equipment vendor, where he most recently served as
OEC Medical Systems has named Joseph Pepper president and CEO of the Salt Lake City developer of mobile C-arm systems. Pepper joins OEC after 10 years in senior management with Ohmeda, an anesthesia equipment vendor, where he most recently served as president of the medical devices division.
Pepper takes over duties previously held by chairman Ruediger Naumann-Etienne, who held the titles since the departure of David Rose two years ago (SCAN 3/15/95). Naumann will now focus on strategic growth opportunities for OEC.
In other OEC news, the company reported record first-quarter revenues (end-March) of $32.3 million, up 23% compared with $26.2 million in the same period the year before. The company is now reporting net income on a fully taxed basis, and posted a net profit of $2.3 million, or 18 a share. OEC would have had earnings of 14 a share in the same period last year had it been taxed at the full rate.
OEC said it saw increases across its product lines, and saw bookings hit an all-time high in the first quarter. The company also received Food and Drug Administration clearance in March for its Series 7600 mobile C-arm, which is designed to provide basic full-sized C-arm imaging at a lower price.