Navigation Links
Michael Petras, Former CEO of GE Lighting, Named CEO of Cleveland-Based Specialty Medical Supplies Leader
Date:3/7/2011

CLEVELAND, March 7, 2011 /PRNewswire/ -- HGI Global Holdings, Inc., a leading provider of specialty medical products to chronic disease patients, today announced the appointment of Michael B. Petras, Jr. as Chief Executive Officer, effective March 21.

Mr. Petras, 43, joins HGI from GE Lighting, the Cleveland-based $3 billion unit of General Electric Company (NYSE: GE) where he served as President and Chief Executive Officer.  Michael has held general management positions within General Electric since 1995. Since 2005, he has been responsible for multi-billion dollar businesses, managing supply chain, marketing, finance, manufacturing, and engineering and administration functions.  

The CEO role has been vacant since October 2010, when HGI was acquired by Clayton, Dubilier & Rice, LLC (CD&R) and GS Capital Partners. Today's announcement follows the recent promotion of Kurt Packer to the position of President and Chief Operating Officer.

"Michael is a proven business builder with a passion for growing businesses and leading large, complex enterprises to new levels of financial and operating performance excellence," said Paul S. Pressler, Chairman of HGI and an Operating Partner at CD&R. "He is well versed in distribution businesses and will bring to the organization deep sales, marketing and brand management experience."

Mr. Petras said, "HGI is a very dynamic company operating in a large and growing market with a long history of improving the quality of patient care and lowering healthcare costs for patients and managed care organizations.  I look forward to working with the talented HGI team to build on their impressive accomplishments in serving its valued customer network and ultimately those people who depend on the specialty medical products the company distributes."

Prior to leading GE Lighting, Mr. Petras was President and CEO of Lighting and Industrial.  Before that, he served as President and Chief Executive Officer of GE's LED (light-emitting diodes) business, GE Lighting Solutions. During more than 18 years at GE, Petras has advanced through roles within GE in Six Sigma Quality, Product Management, and Sales and Marketing.

Mr. Petras, a Cleveland native, is very active in the community.  He is a board member of United Way of Cleveland, John Carroll University and the Greater Cleveland Partnership, a 16,000-member association of Northeast Ohio companies and organizations. He is a past board member of Achievement Centers for Children and remains active with the organization today. In 2009, he was recognized by Achievement Centers as its "annual honoree."

Mr. Petras holds an MBA degree in marketing from Case Western Reserve University and a bachelor's degree in finance from John Carroll University.

About HGI Holding, Inc.Headquartered in Cleveland, Ohio, HGI Holding, Inc. ("HGI") is a leading mail-order, direct-to-consumer provider of disposable medical products to chronic disease patients.  The company operates through two segments, Edgepark Medical Supplies and Independence Medical.  Edgepark contracts directly with over 600 managed care organizations (MCOs) to provide direct-to-consumer home delivery of products to approximately 300,000 patients, while also providing MCOs with value-added services that drive utilization, billing efficiencies and patient compliance.  Independence serves as an outsourced supply chain for approximately 5,500 commercial customers, including durable medical equipment suppliers, independent pharmacies and wholesale distributors. Funds managed by CD&R and GS Capital Partners are HGI's primary shareholders.  For more information, please visit www.edgepark.com and www.indemed.com.Contact: Kimberly Solarz +1 (212) 269.5569ksolarz@broadgate.com  
'/>"/>

SOURCE HGI Global Holdings, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Michael J. Fox Foundation Awards Up to $3 Million to Industry Teams to Jumpstart Promising PD Drug Development
2. Michael J. Fox Foundation Commits Up to $3 Million for Clinical Trials That Can Improve Treatment of Parkinsons Disease
3. New Michael J. Fox Foundation Initiative Will Drive Development of Web-Based Tools to Increase Patient Participation in Parkinsons Clinical Trials
4. Michael J. Fox Foundation Commits up to $10 Million for Pre-Clinical Drug Development Under Therapeutics Development Initiative
5. Michael J. Fox Foundation Announces $5.6-Million Award for Phase 2 Clinical Trial Studying Neuroprotective Potential of Inosine
6. The Foundation for Biomedical Research Announces Winners of the 7th Annual Michael E. DeBakey Journalism Awards
7. Michael J. Fox Foundation Awards $2.4 Million for Validation of Nine Promising Therapeutic Targets for Parkinsons Disease
8. Michael J. Fox Foundation Awards $2.7 Million for Industry Efforts to Speed New Parkinsons Therapeutics
9. Prepared Remarks of Attorney General Michael B. Mukasey Before the House Judiciary Committee
10. Michael J. Fox Foundation Funds $1.1 Million for Cutting-Edge Approaches to Parkinsons Disease Under Rapid Response Innovation Awards 2008
11. Michael J. Fox Foundation Awards $2 Million for Research on Cognitive and Mood Symptoms of Parkinsons Disease
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/9/2016)...   AllCare Plus Pharmacy announced today that ... Approval ® for Home Care Accreditation ... Gold Seal of Approval ® is a symbol ... safe and effective care.  --> ... rigorous on-site survey in January 2016. The survey reflected ...
(Date:2/9/2016)... The new report "Global Diagnostic Ultrasound Devices Market Assessment & Forecast: ... global diagnostic ultrasound devices market was valued at US$ 5,381.1 million ... 2019 at a CAGR of 6.8% from 2015 to 2019. ... analyzed for six geographies of North America , ... Latin America , Middle-East and ...
(Date:2/9/2016)... -- The global prefilled syringes market accounted for $3,905.1 ... grow with a CAGR of 12.9% during 2015-2020. Among ... the global prefilled syringes market, with 90.1% share in ... The global market of prefilled syringes is up surging ... increasing demand for vaccines, increasing prevalence of chronic and ...
Breaking Medicine Technology:
(Date:2/9/2016)... ... 09, 2016 , ... Dr. Rassouli, cosmetic dentist in Orange County , ... most popular cosmetic procedures in dentistry today, but the cost often leads to patients ... risk of teeth whitening-related damage. For a limited time, Dr. Rassouli is offering this ...
(Date:2/9/2016)... ... 2016 , ... United Methodist Communications collaborated with Chocolate Moose ... video designed to prevent the next widespread Ebola outbreak from occurring ... distributed throughout Togo, Liberia, Sierra Leone, Nigeria, Côte d’Ivoire and other African countries, ...
(Date:2/8/2016)... ... ... CURE Media Group , the nation’s leading digital and print media enterprise ... , which will annually honor individuals making heroic contributions in the field of multiple ... Awards nomination process is officially open through February 17 for patients, caregivers and ...
(Date:2/8/2016)... ... February 08, 2016 , ... The Valentine’s Season is famous for gift giving with flowers, ... that they are loved. This year, for more than 5.6 million Americans suffering with ... won't be enough to remind them of the lives they’ve led and the people they’ve ...
(Date:2/8/2016)... ... February 08, 2016 , ... Steve Helwig & Associates Insurance & Financial, serving ... program, has teamed up with Citizens Opposed to Domestic Abuse in support of its ... support all those victimized by the fear of violence in their own homes, donations ...
Breaking Medicine News(10 mins):