A Medical Device Daily
Analogic (Peabody Massachusetts) a provider of medical imaging and aviation security technology reported that it will reduce its workforce by 140 positions, or 9% worldwide, as global economic conditions continue to put pressure on healthcare capital equipment markets.
This reduction in force, along with other cost-reduction initiatives, will result in the company avoiding costs of nearly $9.6 million on an annual basis. Analogic expects to take a restructuring charge of $3.4 million during the second fiscal quarter.
President/CEO Jim Green said, "Today's economic conditions require Analogic to align its cost structure to existing market conditions. However, we remain committed to our core markets in medical imaging and aviation security and will continue investing in technologies that position Analogic for profitable growth."
In more positive restructuring news. American Medical Systems (Minnetonka, Minnesota) reported changes to its worldwide sales structure. In an effort to strengthen and focus its expansion plans outside the U.S., AMS has organized its sales and marketing organizations into three regions around the world: North America, Europe Middle East Africa (EMEA), and Asia Pacific/Latin America.
With this new structure, AMS has appointed Francois Georgelin to the newly created post of vice president and general manager of the EMEA Region. Francois comes to AMS with extensive leadership experience in international sales and marketing.
Additionally, Mike Ryan has been appointed vice president and general manager, Asia Pacific/Latin America Region. Ryan has been with AMS for 22 years and was previously vice president of international sales and marketing where he successfully led AMS' business in markets outside the U.S. with consistently high sales growth. He will now focus his efforts on developing some of the fastest-growing healthcare markets in the world in Asia Pacific/Latin America.
Francois and Ryan will be responsible for all direct and distributor business within their respective regions, and for fully developing these markets for all of AMS' products. Both will report directly to the CEO and become members of AMS' executive leadership team.