Bettering the Bottom Line

Posted by mddiadmin on March 1, 2006

Originally Published MX March/April 2006


Return to Article:

Turning the Corner

During his time as chief executive officer, Joseph DeVivo has engineered a restructuring of RITA Medical (Fremont, CA) that has turned largely on the integration of a major acquisition. Consequently, the company's financial performance has improved steadily in recent quarters.

Since RITA Medical acquired Horizon Medical (Atlanta) in June 2004, revenue for the combined company has grown from $8 million in the third quarter of 2004 to $11.2 million in the third quarter of 2005. Horizon Medical's vascular access business represented a strategic fit for RITA Medical, as RITA's radio-frequency ablation (RFA) devices and Horizon's ports and catheters share the same physician customer base.

Printer-friendly version
No votes yet