CHARLES OBERMEYER ELECTED PRESIDENT OF MARQUEST MEDICAL PRODUCTS INC.
ENGLEWOOD, Colo., May 10 /PRNewswire/ -- Marquest Medical Products Inc. (NASDAQ: MMPI) announced today that Charles M. Obermeyer was elected president and a director of the company. Previously, Obermeyer was Marquest's executive vice president and chief operating officer. Prior to joining Marquest, he had led Cryolab (now Saes Pure Gas Inc.) a high-tech manufacturer serving the semiconductor industry, to a successful financial turnaround. Also, he had served Telectronics Inc., a medical pacemaker company as a senior executive officer with responsibilities for manufacturing and finance. Obermeyer graduated from Washington University with a degree in engineering and a masters in business, followed by 11 years with Arthur Andersen & Co. as a manufacturing consultant and auditor. Obermeyer succeeds as Marquest's president, C. Richard Piazza, who has resigned to pursue other business opportunities. The company announced that Gary Childers was appointed vice president-sales and marketing. Childers has 25 years experience with anesthesia, respiratory and blood collection medical devices. Childers had been the vice president of sales of York Medical Supply Inc. and a regional sales manager for Marquest for the past seven years. James E. Brands, vice chairman of Scherer Healthcare Inc. ("Scherer") was elected a director and chairman of the board of Marquest. He succeeds Kenneth N. Larsen. Jack York of Paducah, Ky., a director since 1988, has assumed an expanded role in Marquest's sales/marketing activities. William J. Thompson, president of Scherer, will supplement York's efforts in sales/marketing in a consulting capacity. Marquest Medical Products Inc. ("Marquest") completed its organization restructuring and consolidation of operations into its plant in Englewood. In April, Marquest closed its manufacturing plants in Nogales, Mexico, and Parker, Colo. With its streamlined operations consolidated into the Englewood facility, Marquest anticipates that its employment in Englewood may increase by more than 100 employees over the next three to four months. Scherer has a long history of experience in the medical device industry and is known for its commitment to quality. Scherer is funding certain cash needs of Marquest through a secured line of credit, while Marquest is in the process of completing a financial turnaround. Announced in April 1993, was Scherer's arrangement to acquire up to 65 percent of Marquest, once Marquest is successful in an exchange offer to its Swiss Bond holders. Marquest met with bond holders and bond-bolder representatives in Zurich and Geneva on May 3 and 4, 1993. The acceptability of the Swiss exchange offer will not be reported to Marquest until June 1. Marquest must complete the Swiss Bond exchange, as Marquest is in default of the Swiss Bond provisions. Marquest Medical Products Inc. is an international manufacturer and distributor of specialty respiratory and anesthesia disposable devices. Scherer Healthcare Inc. provides healthcare and pharmaceutical services, including infectious medical waste disposal, medical and surgical supplies, pharmaceutical reseach based on computer-assisted design and over-the-counter pharmaceuticals. -0- 5/10/93 /CONTACT: Charles M. Obermeyer, president of Marquest Medical Products, 303-790-4835/ (MMPI)
CO: Marquest Medical Products Inc. ST: Colorado IN: MTC SU: PER
BP-JL -- LA016 -- 6348 05/10/93 09:30 EDT
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|Date:||May 10, 1993|
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