One door closes. Another one opens. PDR NETWORK APPOINTS RICHARD ALTUS AS COMPANY PRESIDENT Seasoned Pharma Industry Professional Altus Brings Management Expertise to Key Leadership Role MONTVALE, NJ–September 21, 2011 – PDR Network, the #1 source for trusted drug information and the leading distributor of FDA-approved drug information and Drug Alerts to U.S. prescribers, today announced that Richard Altus has joined the Company as President. Mr. Altus will be responsible for the oversight of all Company operations and will help lead PDR Network through its next phase of growth, expanding the company’s digital product offerings and accelerating the integration of its content and services into electronic health record (EHR) systems. In joining PDR Network, Mr. Altus brings his leadership and experience, built over a 25 year career, of which the last decade has been in the healthcare industry. Mr. Altus has an impressive track record of success coupled with years of experience in “C” level positions whereby he led teams in the development of greater commercial success. Mr. Altus joins PDR Network from ImpactRx, where he was President and CEO from 2006 to August 2011. At ImpactRx, Mr. Altus helped transition the Company from a venture-capital dependent start-up to profitability and a successful sale to Symphony Technology Group in April 2011. Prior to joining ImpactRx Mr. Altus held executive level positions at Medical Broadcasting Company, RHM Teleservices and GBC Technologies. “I’m thrilled to be joining PDR Network,” stated Mr. Altus. “The iconic PDR brand and talented PDR team will allow us to further engage and empower physicians in their work flow, particularly in light of rapid EHR adoption nationally, which in turn will enable pharmaceutical companies to better communicate with physicians at the point of prescribing.” Edward Fotsch, MD, CEO of PDR Network stated that “Rich brings a terrific background of management and success to PDR, and his understanding of the needs of both pharmaceutical brand teams and physicians will serve us well as we look to prioritize and manage our growth opportunities.” Mr. Altus’s predecessor as President, David Tanzer, has joined Lee Equity Partners as an Operating Partner. Funds affiliated with Lee Equity Partners are the majority owners of PDR Network. Dr. Fotsch thanked Mr. Tanzer for his significant contributions to the Company, saying “David has done a great job and we thank him for the leadership and guidance he provided during the two years in which he helped to drive the strategic and operational transformation of Physicians’ Desk Reference from a 65-year-old publisher of an annual reference book to an innovative digital provider of drug safety and support content and services.” For more information about PDR Network, please visit www.pdrnetwork.com. About PDR Network PDR Network, LLC is the leading distributor of FDA-approved drug labeling information, product safety Alerts and REMS programs, including the Physicians’ Desk Reference® (“PDR”) – the most highly trusted drug information reference available, distributed to nearly 500,000 U.S. physicians and pharmacists and used by prescribers over 70 million times a year. PDR Network provides innovative products and services to deliver industry-leading content across channels, including PDR.net®, mobilePDR®, PDR®3D™ and directly through electronic health record platforms. PDR Network – the trusted leader in aggregating healthcare information for more than 65 years. PDR Network is the industry’s #1 source of trusted and reliable drug information for prescribers by pharmaceutical and device manufacturers, physicians and other healthcare professionals, the government and electronic health record system developers. For more information, visit www.pdrnetwork.com.
I love the way VC's eat up his bullshit. They'll find out soon enough they brought a zero on board. What's the over/under on their revenue decline in the next 12 months? How about employees jumping ship?
Your hatred must really be deep rooted. He got us sold in an ugly economic environment. And convinced a lot of egos to move on. He is gone...so should you.
