Medisana CEO Ralf Lindner is “Turnaround Specialist of the Year”
BDO Deutsche Warentreuhand and “impulse” business magazine distinguish Medisana AG CEO for successful restructuring
Hilden, November 19, 2008 – Ralf Lindner, CEO of home healthcare specialist Medisana AG, has been voted “Turnaround Specialist of the Year 2008” in the under-500 employee company category. Accounting company BDO Deutsche Warentreuhand AG and business magazine “impulse” make the award every year to managers who have successfully restructured troubled companies. Medisana AG is the only listed company among this year’s three prizewinners.
“I’m extremely pleased to receive this distinction, and I have accepted the award on behalf of our entire team,” commented Ralf Lindner at the award-bestowing ceremony held in Berlin on Wednesday. “The restructuring plan would not have proved sustainable without my colleagues’ courage to innovate, and their willingness to make extraordinary contributions.” Linder, who originally hails from Hamburg, has been active as the main shareholder and manager of Medisana AG since 2004. Headquartered in Hilden, North Rhine Westphalia, the company produces healthcare and wellness products.
Sales professional Lindner believes a critical factor behind the successful turnaround was the strategic decision to consolidate both the product range and purchasing, and to position Medisana consistently as a provider in the premium segment, although the development and introduction of new product lines, and entry into new markets, initially entailed committing substantial sums. Investments made in the first two years after his arrival at the company resulted in significant losses at first. The concept bore fruit, however, and Medisana has been back in the black since the end of 2006. The Group generated profit of EUR 755,000 in the 2007 financial year, on sales of EUR 30 million. Key financial figures from the first half of 2008 also reflect the intact growth strategy: sales were up 18 percent, while earnings more than doubled.
Linder is eyeing nothing less than future market leadership: “Medisana has what it takes to assume the leading role in the high-growth home healthcare segment. We will further expand our position on the basis of a solid sales structure, and open up new markets with innovative products.” Lindner is also considering external growth in this respect: “We are in contact with a number of highly interesting companies in our sector. I can very well imagine a takeover if the opportunity arises.”
*Information about Medisana AG:*
Medisana AG, based in Hilden in North Rhine Westphalia, Germany, is one of the world’s leading providers of health care and wellness products for private consumers. Its portfolio ranges from electro-acupuncture devices, to blood pressure measurement equipment and all the way through to ultrasound inhalers and massage products. Medisana operates its own subsidiaries in the most important markets of its primary European sales region, as well as in Hong Kong and the USA. Around 70 staff members are employed in the Medisana Group around the world. Medisana AG shares are traded under ISIN DE0005492540 in the Regulated Market (General Standard) of Deutsche Börse.
Telephone: +49 (0) 2103 / 20076-0
Medisana AG on the Internet: www.medisana.de
*Information about the “Turnaround Specialist of the Year 2008” award:*
“impulse” business magazine and auditing company BDO Deutsche Warentreuhand have jointly bestowed this award since 2006. The distinction goes to managers who have most successfully steered their companies out of crisis, and put them back on a sustainable footing. The award is split into three categories: companies with over 1,000 employees, companies with 500 to 1,000 employees, and companies with up to 500 employees.
The jury members include Prof. Hans-Jürgen Kirsch, Director of the Institute for Accounting and Auditing at Münster University, Dr. Patrick Adenauer, President of Family-Managed Companies ASU (Die Familienunternehmer-ASU), Martin Blessing, Spokesman of the Management Board of Commerzbank AG, Dr. Lutz Mackebrandt, Vice President of the Federal Association of German Corporate Consultants BDU, Christian Dyckerhoff, Spokesman of the Management Board of BDO Deutsche Warentreuhand AG, and Dr. Ursula Weidenfeld, Chief Editor of “impulse”, as well as Dr. Matthias Wittstock, Director of the Medium-Sized Company Policy Department of the Federal Ministry of Economics and Technology. Federal Economics Minister Dr. Michael Glos is the patron.