Friday corporate news

  • GE Healthcare US head Omar Ishrak moves to Medtronic. A change at the top at GE Healthcare in the US brings in GE Aviation Services VP Tom Gentile as President/CEO. Also a reorganization at GEHC creates a new Global Services division responsible for their healthcare global platform, headed by Mike Swinford. Ishrak’s move to Minneapolis’ Medtronic, effective June 13 to replace their retiring CEO, is a trade up both in business size–a $12 billion business for a $15.8 billion one–and to a full global CEO position. He should also be acknowledged for his role in attempting a Home Health division at GEHC (Ed. Donna was at Living Independently when acquired) and in the development of Vscan. Care Innovations will have to take him off their Board of Leaders page though. GE release (IHT), Medtronic release.
  • Tyco in play, whither ADT Home Companion? Rumors are rampant about the parent of security giant ADT and sale/breakup of their many businesses. According to Fox Business and the New York Post, France’s Schneider Electric is in talks with private-equity firms about teaming up for a bid to acquire Princeton, NJ-based Tyco. Analyst speculation is that Schneider might buy the fire and security businesses (which include the Home Companion PERS and home automation). Other names mentioned are Siemens and United Technologies. What could be interesting is if another company buys the languishing, non-core PERS and home automation businesses to either gain a foothold, expand their related existing business and/or knock out a competitor.

**Update 16 May** in Comments: A tale of two missed opportunities for Tyco/ADT to lead in home health in the mid-00’s: in telehealth from reader Avi Kamman, and in sensor-based telecare with QuietCare from Ed. Donna.

2 thoughts on “Friday corporate news

  1. 5 years ago i was in conversations with Tyco about home-based telehealth as a natural strategic extension to home security. Nobody got it then. Maybe they will now.

  2. Avi, no surprise there that they could not grasp telehealth as they hardly could move on advancing telecare! Here’s the back story (and why here, I believe exclusively, we picked up on it.)

    In 2005 the fledgling Living Independently Group (LIG)/QuietCare Systems inked an non-exclusive two-year reseller deal with ADT to sell ADT QuietCare through their nationwide sales/installer network for Home Companion (which leveraged their security leads, and was a substantial business although well behind then-independent Lifeline). As an adjunct for PERS in DTC personal home safety, it made total sense. Substantial commitments were made on both sides in terms of sales, marketing support and identity. Hopes were high at LIG indeed.

    Then, from what I recall (I joined LIG in mid-2006), the internal advocate for the ‘vision’ was a casualty of the general mess left behind with the Dennis Koslowski (head of Tyco) fraud. Gradually we at LIG were abandoned and part of my task coming on board was to start marketing independent of them.

    Telehealth, particularly in 2006, would have been a bridge much too far for them. Their PERS business is hardly supported–have you seen a Home Companion commercial lately? One wonders what could have been, however.

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