Bally Total Fitness Names Barry M. Deutsch to Replace Martin Franklin on Its Board of Directors.Business Editors CHICAGO--(BUSINESS WIRE)--May 5, 2004 Bally Total Fitness Bally Total Fitness is an American health club chain with 400 gyms in 70 cities, and claims 4 million customers [1]. The chain has recently opened gyms in South Korea, China & the Bahamas. Holding Corporation (NYSE NYSE See: New York Stock Exchange : BFT (Binary File Transfer) An extension to the fax protocol that allows transmission of raw data. A page of text is transmitted faster than a bitmap of the page and is displayed at normal printer resolution at the receiving side. ) announced today that it has named Barry M. Deutsch to its Board of Directors and Audit Committee. Mr. Deutsch joins Bally with nearly 20 years of experience in the healthcare, finance and mergers and acquisitions arenas. Mr. Deutsch is presently the chief financial officer at Ovation Pharmaceuticals, a Chicago-based specialty pharmaceutical company. Mr. Deutsch joined Ovation in 2001 and has been instrumental in Ovation's financings and acquisitions. Mr. Deutsch will replace Martin Franklin, who resigned earlier this week, citing time commitments. "We expect the addition of Barry to further strengthen our Board of Directors," said Paul Toback, Bally Total Fitness' chairman, president, and chief executive officer. "He brings a deep knowledge of accounting and finance, as well as tremendous contacts in those areas. We are fortunate to have him on the team to help guide the Company to continued growth and success." Deutsch said, "I have been particularly impressed with what the Bally team has accomplished in the past 16 months. I look forward to providing my experience and insights to further assist the Company with its specific business goals and objectives." Toback added, "I'd like to thank Martin Franklin for his service over the last year and for all his advice and counsel." About Barry M. Deutsch: Prior to joining Ovation Pharmaceuticals, Mr. Deutsch was a healthcare investment banker Investment Banker A person representing a financial institution that is in the business of raising capital for corporations and municipalities. Notes: An investment banker may not accept deposits or make commercial loans. with Vector Securities International and Prudential Vector Healthcare Group where he assisted companies in the life sciences industry in raising capital and evaluating and negotiating mergers, acquisitions, and strategic alliances. Mr. Deutsch joined Vector Securities shortly after the firm was formed and, for the next 12 years, was a key contributor to the firm's growth that culminated in the sale of the firm to Prudential Securities and the creation of Prudential Vector Healthcare. Mr. Deutsch has significant experience working with large healthcare companies on acquisitions and divestitures, as well as experience with specialty pharmaceutical and biotechnology organizations. Prior to joining Vector Securities, Mr. Deutsch was an Analyst in the corporate finance group of Salomon Brothers
Salomon Brothers was a Wall Street investment bank. . Mr. Deutsch is a Certified Public Accountant Certified Public Accountant (CPA) An accountant who has met certain standards, including experience, age, and licensing, and passed exams in a particular state. , and he received an MBA MBA abbr. Master of Business Administration Noun 1. MBA - a master's degree in business Master in Business, Master in Business Administration degree from the Kellogg Graduate School of Management at Northwestern University and a BSE See Bombay Stock Exchange. BSE See Boston Stock Exchange (BSE). degree from the Wharton School of the University of Pennsylvania The Wharton School is the business school of University of Pennsylvania in Philadelphia, Pennsylvania. It was established in 1881 through a donation of Joseph Wharton, making it the world’s oldest business school. . Mr. Deutsch is 41 years old. About Bally Total Fitness: Bally Total Fitness is the largest and only nationwide, commercial operator of fitness centers, with approximately four million members and nearly 420 facilities located in 29 states, Canada, Asia, Mexico and the Caribbean under the Bally Total Fitness(R), Crunch Fitness(SM), Gorilla Sports(SM), Pinnacle Fitness(R), Bally Sports Clubs(R) and Sports Clubs of Canada(R) brands. With an estimated 150 million annual visits to its clubs, Bally offers a unique platform for distribution of a wide range of products and services targeted to active, fitness-conscious adult consumers. |
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