John Dineen, the former CEO of GE Healthcare, has been appointed as an operating advisor to Clayton, Dubilier & Rice. Beginning early next year, Mr. Dineen will work with CD&R on healthcare-related investments, from sourcing new transactions to advising portfolio company executives on management, operational and growth strategies.
Mr. Dineen is a 28-year veteran of General Electric. Most recently, he served as Chief Executive Officer of GE Healthcare – an $18 billion in annual revenue manufacturer of medical imaging devices, life science and medical diagnostic tools.
“John’s leadership experience and proven value creation abilities bring additional depth to our healthcare sector expertise,” said Richard Schnall, CD&R Partner. “We look forward to working with John to identify and make compelling new investments and his guidance with respect to our existing healthcare-related portfolio businesses.”
In recent years, CD&R has invested in a number of healthcare companies which are positioned to benefit from the increased emphasis on reducing the cost of healthcare delivery and improved patient outcomes, including: AssuraMed – a distributor of specialty medical products which CD&R sold to Cardinal Health in December 2012; Envision Healthcare – a provider of facility-based outsourced physician and medical transportation services; Healogics – the largest outsourced wound care service provider in the US; and PharMEDium – a provider of hospital pharmacy-outsourced sterile compounding services.
Mr. Dineen joined General Electric in 1986 as a telecommunications engineer in Rockville, Maryland. Since then, he has held a variety of leadership positions at GE, both in the U.S. and worldwide, including General Manager of GE’s Power Equipment, Meter, Microwave and Air-conditioning businesses; and President of GE Plastic’s Asian Operations and GE Plastics World-wide. He also served in various assignments in Corporate Finance including Manager of Finance for GE Asia in Hong Kong. Before leading GE Healthcare, Mr. Dineen was the President and CEO of GE Transportation, a global leader in the rail, mining, drilling and wind industries.
“I am very excited about my new role with CD&R and to be working with a firm with such a distinguished record of strengthening and improving the efficiency and effectiveness of businesses across a range of industry sectors,” said Mr. Dineen.
Clayton, Dubilier & Rice focuses on producing financial returns through building stronger more profitable businesses. Since inception, the firm has managed the investment of more than $19 billion in 62 businesses representing a range of industries with an aggregate transaction value of approximately $90 billion. Founded in 1978, Clayton, Dubilier & Rice is based in New York and London (www.cdr-inc.com).
2014 PEPD • Private Equity’s Leading News Magazine • 10-17-14
