JACK DAVIS APPOINTED CO-CEO OF DIANON SYSTEMS
JACK DAVIS APPOINTED CO-CEO OF DIANON SYSTEMS STRATFORD, Conn., May 29 /PRNewswire/ -- DIANON Systems, Inc.
(NASDAQ: DIAN) announced at its annual meeting today the election of its President, John P. Davis, to a newly formed office of the chief executive. Davis and Richard A. Sandberg, chairman of the board, will serve as co-chief executive officers of the company.
In announcing the election, Sandberg commented, "By creating an office of the chief executive and electing the two of us to fill it, the board of directors has institutionalized the partnership Jack and I have formed in the process of building DIANON. Neither of us envisions any change in our responsibilities or reporting relationships in the company. We have a successful management formula and we want to keep it in place. "Jack's election to the office of the chief executive officer is well deserved. Jack has been a major factor in the success of DIANON Systems, Inc. and has provided both operating and strategic leadership over the last eight years in building our current position." Davis has served as DIANON's president and chief operating officer since he joined the company in 1984. From 1981 to 1984 Davis served as division president of Analytab Products Division of American Home Products, Inc, a microbiology laboratory test kit company based in Plainview, N.Y. Prior to joining Analytab, Davis was employed for over 15 years by Abbott Laboratories, Inc serving in his last position as vice president and general manager of the Diagnostic Products Business Unit of its Diagnostic Division. Davis holds a B.S. degree from Ohio State University. Davis currently resides in Weston, Conn. with his wife and two daughters. In remarks prepared for the meeting, Sandberg discussed the importance of persistence in managing the uncertainties in new technology and healthcare reimbursement and regulation. As an example he noted that the company had just begun billing for two oncology testing services which for the past several years have been part of an extensive evaluation program. He pointed out, however, that differing attitudes toward new technology of private insurers, Medicare, Medicaid and the FDA and the impact of such attitudes on physicians made it difficult for management to be confident that such billings would have any immediate material impact on the company's revenue or income. He also emphasized that in light of the complexities of the medical marketplace, shareholders should not expect any single new technology development or new product announcement to have an immediately ascertainable financial impact on the company. "The success of this company is not based on periodic events of immediate impact but on the day to day persistence of its people and the consistency of its financial performance". DIANON Systems is a leading provider of testing services and diagnostic information to a focused audience of 12,500 cancer treating physicians and 25,000 obstetrician/gynecologists in the United States as well as similar physicians in Europe. The company is headquartered in Stratford and has recently opened a European laboratory in Amsterdam and created a joint venture with a large reference laboratory in Paris. -0- 5/29/92 /CONTACT: Richard A. Sandberg, chairman of the board of DIANON Systems, 203-381-4022/ (DIAN) CO: DIANON Systems Inc. ST: Connecticut IN: MTC SU: PER
SH -- NY006 -- 5081 05/29/92 09:17 EDT
|Printer friendly Cite/link Email Feedback|
|Date:||May 29, 1992|
|Previous Article:||SECURITY TAG GROWTH TREND CONTINUES|
|Next Article:||DRIVERS' UNION RATIFIES REVISED CONTRACTS WITH THE NEW YORK TIMES|