Scott Thomas Garrett
Chairman, chief executive
Beckman Coulter Inc.
Born in Milwaukee, Jan. 19, 1950
Lives in Lemon Heights
Runs county’s largest medical technology company by sales.
Managing costs to spur profits, expanding via acquisitions as customers cautious in downturn.
Spending $800 million for Olympus’ medical diagnostic bus-iness to boost Euro-pean business. Deal set to close in third quarter.
Moving from longtime Fullerton headquarters to neighboring Brea. Prior restructuring included change in how revenue is accounted for, distribution overhaul.
Company makes instruments, test kits, supplies used by hospitals, medical laboratories, researchers. Strong 2008: revenue of $3.1 billion, up 12%. Profit of $363.7 million, up 11%. Recurring revenue from instrument leases, chemicals, other supplies made up 77% of sales.
More modest outlook this year. Expects slight profit growth, some recurring revenue growth. Controlling expenses.
Key hospital customers, usually recession-proof, spooked this time around by tighter credit, investment income lost in Wall Street’s fall meltdown.
Beckman last big stand-alone player in medical diagnostics. Occasional takeover talk.
Joined Beckman in 2002 as head of clinical diagnostics. Spent about 20 years at Baxter International. In 1990s, served as chief executive of Dade Behring, Beckman rival that evolved out of Baxter, now part of Siemens.
One of several local device chiefs to come out of Baxter, including fellow OC 50er Michael Mussallem. Did deals between stints at Baxter, Beckman. Founded Garrett Capital Advisors, healthcare investor with Banc One Venture Partners.
Beckman has strong reputation, deep history in county. Employs 10,600 people, 2,000 in OC. More than 200,000 instruments in use worldwide. Started in 1935. Founder Arnold Beckman, local icon, died five years ago at 104.
Garrett’s brought savvy management, restructuring skills. Businesslike manner, low-key, pleasant personality. Adept at corporate presentations.
On board of AdvaMed, Washington, D.C., medical device trade group.
Mechanical engineering bachelor’s from Valparaiso University in Indiana, business master’s from Lake Forest Graduate School of Management.
Married to Susan, two grown children. Enjoys reading (history, politics, business), playing guitar, golfing, family vacations.
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Vita Reed
Joseph Esmaiel Kiani
Masimo Corp.
Born in Shiraz, Iran, Sept. 16, 1964
Lives in Laguna Niguel
Founder of Irvine maker of patient monitors debuts on OC 50.
Masimo has market value of about $1.6 billion, was county’s last big IPO in 2007, when it raised $48 million as part of $233 million offering. Cautions device companies to have $100 million in yearly sales, two to three years of growth ahead of them before going public.
Stock, big in 2007, has felt Wall Street’s downturn. Still outperforming major indexes, rivals.
Specializes in pulse oximetry monitor, where sensor is attached to finger, toe to read oxygen levels. New products, including hemoglobin monitoring device, seen as growth engines.
Products sold to hospitals, surgery centers, ambulance companies, fire departments. Employs 1,700 people, 400 in OC.
Involved in long-running fight with larger rival Nellcor, now part of Covidien Ltd. Won $300 million-plus settlement from Nellcor; royalties declining but continue through early 2011.
Offered hospitals $1 million guarantee that its monitors would outperform Nellcor’s. Made move after Nellcor allegedly disparaged products.
Battled for years to get products into large hospital purchasing groups. Testified before Congress, efforts chronicled in New York Times. Eventually struck deals with Premier, Novation, two big buying groups.
Licenses technology to other device makers, including GE Medical, Medtronic, Philips, Zoll.
Started Masimo with partner Mohammed Diab in Mission Viejo condo in 1989. Was regional technical manager at Anthem Electronics, engineer with Bell Industries, Unisys before starting Masimo.
Raised some $82 million in venture funding from 1992 to IPO.
Son of engineer and nurse. Came to U.S. with family at age 9. Graduated high school at 15.
Bachelor’s, master’s degrees in electrical engineering from San Diego State University at age 22.
On board of Saba Software of Redwood City. Chairman of trade group Medical Device Manufacturers’ Association.
Holds more than 50 patents related to signal processing, sensors, patient monitoring.
Warm, energetic personality. Stylish, subdued dresser. Rarely wears a tie.
Wife, Sarah, two daughters. Plays tennis.
Vita Reed
Richard Keith Matros
Chief executive
Sun Healthcare Group Inc.
Born on Long Island, N.Y., Dec. 28, 1953
Lives in Newport Coast
Runs largest of three locally based nursing home chains.
Sun has yearly sales of $1.8 billion. Runs 207 nursing homes, other facilities in 25 states treating people recovering from illness, injury or with Alzheimer’s. Other busi-nesses include short-term rehabilitation centers, medical staffing arms, hospices.
Joined in 2001 when company was readying to emerge from bankruptcy reorganization. Grown Sun on own, through deals, including 2007’s $350 million buy of Harborside Healthcare of Boston.
Strong 2008: Revenue rose 17%, profits more than doubled to $109 million.
Until past year, Sun held up in fickle market for nursing home operators. Recent market value of $350 million, stock dropped amid market downturn, concerns about debt, which totaled $700 million on Dec. 31.
Citigroup analyst upgraded stock in January, saying investors discounted Sun for more severe government reimbursement outlook than probable.
Some see Sun, others rebounding as aging baby boomers seek long-term care.
Geographically dispersed company. Of-fices in Boston, Albuquerque, Dallas, Denver. Facilities across country. Corporate culture big on meetings, travel, BlackBerrys.
Put together executive team by hiring smart, passionate people: “Everybody’s always going to have different personal styles. I just look for some basic characteristics.”
Pre-Sun career includes stint as chief executive of Santa Ana-based Bright Now Dental for two years, chief executive of Regency Health Services, long-term care company Sun eventually bought.
Master’s in gerontology from USC.
Director, Vericare, Bright Now. Chairs Alliance for Quality Nursing Home Care, Washington, D.C., trade group. Advocates for government spending on long-term care with congressional leaders.
Democratic fundraiser. Holding June 7 event at Newport Coast home for Irvine congressional hopeful Beth Krom in her 2010 bid for Rep. John Campbell’s 48th District seat.
Wife Adriene, three children. Goes by Rick. Stylish dresser. Likes hip-hop, other music. Attends Los Angeles Lakers games, kick-boxes.
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James Vito Mazzo
Senior vice president, Abbott Laboratories,
president, Abbott Medical Optics
Born in Oak Park, Ill., May 11, 1957
Lives in Laguna Beach (Irvine Cove)
D & #233;j & #341; vu for high-profile healthcare executive: back heading division of big company.
Oversaw sale of Santa Ana’s Advanced Medical Optics in Feb-ruary to Abbott for $2.8 billion, ending nearly seven-year run as public company. Abbott sought business to be player in $22 billion yearly eye market.
Mazzo staying on, running business, which was created in 2002 spinoff from Allergan. Mazzo ran business as part of Allergan,fellow OC 50er David Pyott said Mazzo first balked at spinoff, won over on prospect of leading, building company.
Makes products for laser vision correction, cataract surgery, contact lens solutions.
Grew company on own as well as through big deals, including 2007’s $808 million buy of Irvine’s IntraLase, maker of lasers for vision correction surgery. Bought Santa Clara laser device maker Visx in 2005 for $1.3 billion, Pfizer Inc.’s eye surgery unit for $450 million in 2004.
Spent 22 years at Allergan. Dozen years outside U.S. as president of Europe, Africa, Middle East region, other jobs in Italy, Northern Europe, Canada.
Active on many boards, several related to UC Irvine including chair of UCI Foun-dation. On boards at Chapman University, University of San Diego. Only executive from eye sector on executive board of trade group AdvaMed. Member of International Intraocular Implant Club. Also on board of tech booster group Octane.
Raises funds for scholarships.
Bachelor’s in zoology, secondary emphasis in chemistry from Cal State Long Beach.
Athletic in youth. Played second base, football quarterback.
Mazzo, wife, Kelly, big in local charitable, academic scene. Couple lives in “comfortable and warm” dream home. Holds season tickets to Los Angeles Angels of Anaheim, Anaheim Ducks.
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Vita Reed
Michael Albert Mussallem
Chairman, chief executive
Edwards Lifesciences Corp.
Born in Gary, Ind., Nov. 21, 1952
Lives in Laguna Beach
Runs leading heart valve maker, pushing into new type of valve that doesn’t require major surgery.
Yearly sales of more than $1 billion, recent market value of $3.3 billion. Largely im-mune from downturn as products are medical necessities. This year, plans to hire 250 in Irvine, where Edwards employs 2,000; 6,200 total workers.
Some investors fear price squeeze for Edwards, others in Obama administration’s healthcare reform. Mussallem calls fears “imagined.”
Caretaker of Edwards’ historical legacy in OC, early heart valves. Company named for valve pioneer Lowell Edwards.
In major U.S. clinical trial for Edwards Sapien valve, which is inserted via catheter rather than open heart surgery. Eyes 2011 U.S. launch.
Sapien valve, catheter already sold in Europe. Company expects $75 million to $95 million in Sapien sales in 2009, up from $53 million in 2008.
Subject of buyout rumors. Has about $220 million in cash on hand, looking for potential buys.
Develops, makes, sells heart valve replacement, repair devices, heart-monitoring catheters, vascular treatments, minimally invasive cardiac monitoring system, minimally invasive surgery systems. Manufac-turing in Irvine, Utah, Europe, Latin America, Singapore.
Involved in all aspects of company, yet described as hands-off. Stresses “creative debate.” Conference room has symbolic tornado picture to encourage creative discussion.
Big on developing talent. For each critical position, two or more employees pegged as possible replacements.
Few years ago, made some moves to diversify. Effort later cut to increase investment in core businesses.
Company established in 2000 spinoff from Baxter International.
Only boss Edwards has known in nine years as stand-alone public company. Joined Baxter in 1979 after working at Union Carbide. Named president of Baxter’s critical care division, VP of surgical group in 1994; assumed oversight of cardiovascular business from 1995 to spinoff.
Trustee, UC Irvine Foundation.
Also on board, executive committees of California Healthcare Institute, tech booster Octane, where he’s cofounder.
Chairman of AdvaMed, medical technology trade association. Advocates for medical device innovation, enhancing ethics through transparency, strengthening relationships with key players.
Starting this year, got in front of pending legislation by disclosing consulting payments, perks given to doctors by Edwards.
Bachelor’s in chemical engineering from Rose-Hulman Institute of Technology in Indiana. Honorary doctorate from Rose-Hulman.
Married to wife, Linda, for 33 years. No children. Laguna Beach neighbor of John Hall, head of Santa Ana guitar maker Rickenbacker.
Enjoys jogging, skiing. Die-hard Chicago Cubs fan. Interested in projects for people with special needs. Brother has Down syndrome. Of Lebanese heritage.
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David Edmund Ian Pyott
Chairman, chief executive, Allergan Inc.
Born in London, Oct. 13, 1953
Lives in San Juan Capistrano
World-class CEO running county’s most valuable company.
Allergan makes wrinkle remover Botox, breast implants, other medical cosmetics. Al-so eye, skin drugs.
Dealing with downturn that’s cut disposable income, demand for cosmetic procedures.
Awaiting word from regulators about using flagship Botox as mi-graine treatment. Cosmetic, medical sales of Botox reached $1.3 billion mark last year.
Looking to emulate Botox’s success as med-ical-turned-cosmetic drug with Latisse, glaucoma drug now approved to grow eyelashes.
Had good 2008, carried by eye drugs, which grew 13% as opposed to Botox’s slower 8% growth.
Expects tough 2009. Faces stepped-up competition. Johnson & Johnson bought breast implant rival Mentor in January. Could get Botox competition if regulators clear Med-icis Pharmaceutical’s wrinkle remover Reloxin.
In 11th year as Allergan chief. Early on, shifted money to research, development, sales, marketing.
Well-traveled, soft-spoken, worldly with dry sense of humor, refined Scottish accent. Occasional guest on CNBC, favorite of stock guru Jim Cramer.
Joined Sandoz, later Novartis, in 1980. Spent more than 17 years in various positions, including head of Sandoz Nutrition unit, 1995 to 1997.
Director, Edwards Lifesciences, Avery Dennison.
On boards of California Healthcare Insti-tute, UC Irvine Paul Merage School of Business, Pan-American Ophthalmological Foundation, International Council of Ophthalmology Foundation, American Aca-demy of Ophthalmology Foundation, Bio-technology Industry Organization. Member, UCI Chief Executive Roundtable.
Well schooled. Diplomas in German, European law from Europa Institute at University of Amsterdam. Master’s from University of Edinburgh, business master’s from London Business School.
In 2006, received Commander of the Most Excellent Order of the British Empire from Queen Elizabeth.
Raised in India, later Scotland. Fluent in English, German, French, Spanish.
Says frugality is in his Scottish blood. Uses much of the same office furniture that formative CEO Gavin Herbert Jr. used during his time. Some flash: drives Aston Martin.
Married to Julianna. Four children. Has house in Bavarian Alps, goes for retreats from voice mail, e-mail. Says some of his best ideas come walking through woods there.
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