Press release: RADIOMETER appoints former NetDoktor director Vice
President in Radiometer Innovation
(Copenhagen, 7 February 2002) - Radiometer
Medical A/S has appointed Morten Bro Nielsen new Vice President to be
responsible for the Radiometer Venture Fund. In addition to building up
RADIOMETER's new venture fund, Morten Bro Nielsen's job will be to
strengthen the group's general innovation activities in the new Radiometer
Innovation.
Morten Bro Nielsen comes from a position as Scandinavian Director of
NetDoktor - Denmark's Internet portal for health. Besides a PhD from the
Technical University of Denmark and an MBA from the renowned international
business school INSEAD, where he achieved a distinction, Morten Bro
Nielsen has international experience from working in Japan, France and the
USA. He has previously taken part in the management of newly established
companies in both the USA and Denmark.
"We are very happy to welcome Morten in RADIOMETER", says
Peter Kürstein, Executive Vice President in Radiometer A/S, "he
brings along new experience and a new approach which will clearly
reinforce our competence within management and development of growth
companies."
This experience is very much wanted in Radiometer Innovation, the
initiative that was launched in 2001 to identify and develop new growth
opportunities for the group. In the past year, several project teams have
worked on the development of business plans for new growth areas, and one
of these projects last year resulted in the acquisition of the American
company Accumetrics, Inc., which is today an independent subsidiary in the
RADIOMETER group.
As part of these activities RADIOMETER has also established a venture
capital fund, Radiometer Venture Fund, which will invest MDKK 100 over the
next three or four years in small biotech and medico companies. The focus
will be on investments in companies working with new technologies or with
new markets within diagnostics and medico technologies.
"With the Radiometer Venture Fund we try to look a little further
into the future. We would like to manage and support innovative companies
working with new technologies or new markets which might be useful for us
to cooperate with in the long term", says Peter Kürstein and
continues: "In order to avoid that we dominate the companies in which
we invest and thereby perhaps impede their development, it was important
for us to establish the Radiometer Venture Fund as a separate entity and
to attract new talents from outside to manage it."
RADIOMETER plans to employ further one or two persons in the Radiometer
Venture Fund in addition to Morten Bro Nielsen, who says: "It is a
great challenge for me to participate in building up a new venture fond.
Considering the enormous amount of knowledge about markets and
technologies which I can draw upon from RADIOMETER, I believe that we will
become an attractive partner for both small companies within our sphere of
interest and other funds which we would like to establish business
relations with".
If you want more information, please contact: Peter Kürstein,
Executive Vice President, Radiometer A/S, telephone 3827 3373
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