Thermo Electron Appoints Randy H. Thurman President and CEO of New Medical Products Company, Viasys Healthcare Inc.

Apr 05, 2001, 01:00 ET from Thermo Electron Corporation

    WALTHAM, Mass., April 5 /PRNewswire/ -- Thermo Electron Corporation
 (NYSE:   TMO) announced today that it has appointed Randy H. Thurman president
 and chief executive officer of its new medical products spinoff, Viasys
 Healthcare Inc., effective April 16. Viasys is a group of wholly owned Thermo
 Electron medical products businesses, which Thermo Electron intends to spin
 off as a tax-free dividend to Thermo Electron shareholders during the second
 half of 2001, as previously announced. Mr. Thurman comes to Viasys after
 nearly two decades in the medical products industry.
     (Photo: http://www.newscom.com/cgi-bin/prnh/20001030/TMOLOGO)
     "We're extremely pleased to have Randy Thurman join Viasys," said Richard
 F. Syron, chairman and chief executive officer of Thermo Electron. "Randy is a
 seasoned healthcare executive, highly regarded both in the industry and in the
 investment community. He's led a number of research-based diagnostic,
 pharmaceutical, and medical device companies to improved growth and
 profitability. He knows how to motivate employees, while integrating merged
 businesses into a cohesive company. And he has an exceptional track record for
 creating shareholder value. Randy is the right man to launch Viasys as an
 independent company."
     Mr. Thurman, 51, holds a bachelor's degree from Virginia Polytechnic
 Institute, in Blacksburg, and a master's degree from Webster University in St.
 Louis, Missouri, both in economics. Since 1996, Mr. Thurman has been chairman
 and chief executive officer of Strategic Reserves LLC, a privately held
 company he founded to provide funding and strategic direction to healthcare
 technology companies. From 1993 to 1996, he served as chairman and chief
 executive officer of Corning Life Sciences Inc., a diversified healthcare
 company specializing in clinical diagnostics, advanced diagnostic testing, and
 pharmaceutical research. During his tenure there, he grew revenues from $700
 million to more than $2 billion. From 1984 to 1993, Mr. Thurman served in
 various capacities at the global pharmaceutical company, Rhone-Poulenc Rorer,
 most recently as president and chief executive officer.
     Mr. Thurman is a highly decorated Air Force fighter pilot. He served two
 tours of duty in Vietnam and as an instructor at the USAF Top Gun School. Mr.
 Thurman serves on the boards of directors of Enzon Inc., a leading biotech
 company; Closure Medical Inc., an innovator in medical device development; and
 Curagen Inc., a leader in genetic research. Mr. Thurman will assume the
 additional role of chairman of the board of Viasys, following its spinoff from
 Thermo Electron. Originally from Washington, D.C., Mr. Thurman lives in
 Chester Springs, Pennsylvania.
     Viasys Healthcare designs, manufactures, and markets a variety of medical
 devices, instruments, and specialty products for use in a range of healthcare
 services. It operates through three divisions. The Respiratory Care group
 makes instruments and equipment for the diagnosis and treatment of
 respiratory, circulatory, and sleep-related disorders. The Neuro Care group
 makes diagnostic and monitoring devices for nerve, brain, hearing, and other
 disorders, as well as a line of wireless patient-monitoring systems. The
 Specialty Medical Products group manufactures surgical implant components,
 critical care tube feeding systems, medical-grade polyurethanes, and surgical
 barrier-control systems. Products in development address solutions for the
 diagnosis and treatment of asthma, stroke rehabilitation, advanced respiratory
 distress syndrome, and systems used in the critical care and surgical arenas.
 Viasys has operations in California, Illinois, Massachusetts, and Wisconsin,
 and markets its products worldwide. In 2000, it had revenues of approximately
 $346 million.  For more information about Viasys, visit
 http://www.viasyshealthcare.com
     The spinoffs of Viasys and Thermo Electron's paper recycling business,
 both slated for the second half of 2001, are the final steps in a major
 reorganization that Thermo Electron began January 31, 2000, to transform it
 into one integrated operating company focused purely on instrument systems,
 components, and services.
     Thermo Electron Corporation is a global leader in providing technology-
 based instruments, components, and systems that offer total solutions for
 markets ranging from life sciences to tele-communications to food, drug, and
 beverage production. The company's powerful technologies help researchers sift
 through data to make discoveries that will fight disease or prolong life. They
 allow manufacturers to fabricate ever-smaller components required to increase
 the speed and quality of communications. And they automatically monitor and
 control online production to ensure that critical quality standards are met
 safely and efficiently. In 2000, Thermo Electron's instrument businesses,
 based in Waltham, Massachusetts, reported $2.3 billion in revenues and
 employed approximately 13,000 people worldwide. For more information on Thermo
 Electron, visit http://www.thermo.com.
     The following constitutes a "Safe Harbor" statement under the Private
 Securities Litigation Reform Act of 1995: This press release contains forward-
 looking statements that involve a number of risks and uncertainties. Important
 factors that could cause actual results to differ materially from those
 indicated by such forward-looking statements are set forth under the heading
 "Risk Factors" in the company's Annual Report on Form 10-K for the fiscal year
 ended December 30, 2000.  These include risks and uncertainties relating to:
 integration of the company's instrument businesses, the ability to improve
 internal growth, liquidity and prospective performance of the subsidiaries to
 be spun off, the company's guarantee of obligations of the subsidiaries to be
 spun off, the effect of exchange rate fluctuations on international
 operations, potential impairment of goodwill, the need to develop new products
 and adapt to significant technological change, dependence on customers that
 operate in cyclical industries, the effect of changes in governmental
 regulations, and dependence on customers' capital spending policies and
 government funding policies.
 
 

SOURCE Thermo Electron Corporation
    WALTHAM, Mass., April 5 /PRNewswire/ -- Thermo Electron Corporation
 (NYSE:   TMO) announced today that it has appointed Randy H. Thurman president
 and chief executive officer of its new medical products spinoff, Viasys
 Healthcare Inc., effective April 16. Viasys is a group of wholly owned Thermo
 Electron medical products businesses, which Thermo Electron intends to spin
 off as a tax-free dividend to Thermo Electron shareholders during the second
 half of 2001, as previously announced. Mr. Thurman comes to Viasys after
 nearly two decades in the medical products industry.
     (Photo: http://www.newscom.com/cgi-bin/prnh/20001030/TMOLOGO)
     "We're extremely pleased to have Randy Thurman join Viasys," said Richard
 F. Syron, chairman and chief executive officer of Thermo Electron. "Randy is a
 seasoned healthcare executive, highly regarded both in the industry and in the
 investment community. He's led a number of research-based diagnostic,
 pharmaceutical, and medical device companies to improved growth and
 profitability. He knows how to motivate employees, while integrating merged
 businesses into a cohesive company. And he has an exceptional track record for
 creating shareholder value. Randy is the right man to launch Viasys as an
 independent company."
     Mr. Thurman, 51, holds a bachelor's degree from Virginia Polytechnic
 Institute, in Blacksburg, and a master's degree from Webster University in St.
 Louis, Missouri, both in economics. Since 1996, Mr. Thurman has been chairman
 and chief executive officer of Strategic Reserves LLC, a privately held
 company he founded to provide funding and strategic direction to healthcare
 technology companies. From 1993 to 1996, he served as chairman and chief
 executive officer of Corning Life Sciences Inc., a diversified healthcare
 company specializing in clinical diagnostics, advanced diagnostic testing, and
 pharmaceutical research. During his tenure there, he grew revenues from $700
 million to more than $2 billion. From 1984 to 1993, Mr. Thurman served in
 various capacities at the global pharmaceutical company, Rhone-Poulenc Rorer,
 most recently as president and chief executive officer.
     Mr. Thurman is a highly decorated Air Force fighter pilot. He served two
 tours of duty in Vietnam and as an instructor at the USAF Top Gun School. Mr.
 Thurman serves on the boards of directors of Enzon Inc., a leading biotech
 company; Closure Medical Inc., an innovator in medical device development; and
 Curagen Inc., a leader in genetic research. Mr. Thurman will assume the
 additional role of chairman of the board of Viasys, following its spinoff from
 Thermo Electron. Originally from Washington, D.C., Mr. Thurman lives in
 Chester Springs, Pennsylvania.
     Viasys Healthcare designs, manufactures, and markets a variety of medical
 devices, instruments, and specialty products for use in a range of healthcare
 services. It operates through three divisions. The Respiratory Care group
 makes instruments and equipment for the diagnosis and treatment of
 respiratory, circulatory, and sleep-related disorders. The Neuro Care group
 makes diagnostic and monitoring devices for nerve, brain, hearing, and other
 disorders, as well as a line of wireless patient-monitoring systems. The
 Specialty Medical Products group manufactures surgical implant components,
 critical care tube feeding systems, medical-grade polyurethanes, and surgical
 barrier-control systems. Products in development address solutions for the
 diagnosis and treatment of asthma, stroke rehabilitation, advanced respiratory
 distress syndrome, and systems used in the critical care and surgical arenas.
 Viasys has operations in California, Illinois, Massachusetts, and Wisconsin,
 and markets its products worldwide. In 2000, it had revenues of approximately
 $346 million.  For more information about Viasys, visit
 http://www.viasyshealthcare.com
     The spinoffs of Viasys and Thermo Electron's paper recycling business,
 both slated for the second half of 2001, are the final steps in a major
 reorganization that Thermo Electron began January 31, 2000, to transform it
 into one integrated operating company focused purely on instrument systems,
 components, and services.
     Thermo Electron Corporation is a global leader in providing technology-
 based instruments, components, and systems that offer total solutions for
 markets ranging from life sciences to tele-communications to food, drug, and
 beverage production. The company's powerful technologies help researchers sift
 through data to make discoveries that will fight disease or prolong life. They
 allow manufacturers to fabricate ever-smaller components required to increase
 the speed and quality of communications. And they automatically monitor and
 control online production to ensure that critical quality standards are met
 safely and efficiently. In 2000, Thermo Electron's instrument businesses,
 based in Waltham, Massachusetts, reported $2.3 billion in revenues and
 employed approximately 13,000 people worldwide. For more information on Thermo
 Electron, visit http://www.thermo.com.
     The following constitutes a "Safe Harbor" statement under the Private
 Securities Litigation Reform Act of 1995: This press release contains forward-
 looking statements that involve a number of risks and uncertainties. Important
 factors that could cause actual results to differ materially from those
 indicated by such forward-looking statements are set forth under the heading
 "Risk Factors" in the company's Annual Report on Form 10-K for the fiscal year
 ended December 30, 2000.  These include risks and uncertainties relating to:
 integration of the company's instrument businesses, the ability to improve
 internal growth, liquidity and prospective performance of the subsidiaries to
 be spun off, the company's guarantee of obligations of the subsidiaries to be
 spun off, the effect of exchange rate fluctuations on international
 operations, potential impairment of goodwill, the need to develop new products
 and adapt to significant technological change, dependence on customers that
 operate in cyclical industries, the effect of changes in governmental
 regulations, and dependence on customers' capital spending policies and
 government funding policies.
 
 SOURCE  Thermo Electron Corporation

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