[grow_thumb image=”http://telecareaware.com/wp-content/uploads/2014/07/Big-T-thumb-480×294-55535.gif” thumb_width=”175″ /]Updated Softly, softly.
Rumors of a change at the top of Tunstall Americas
were confirmed by the appearance in late May of Oscar Meyer as president/CEO on the leadership page
of their website. This Editor was tipped earlier that Casey Pittock’s name had disappeared from the page at some point prior to mid-May. Inquiries at that time to their UK press contact were not returned.
As of June 6, there is still is no formal press release announcing the change on PRWeb, their usual release site, or posted on the website.
The leadership page gives the barest bones of Mr. Meyer’s background: most recently North America Commercial Operations team for Invacare Corporation, a DME company primarily in the long-term care market, with most of his career at J&J. His LinkedIn page also adds in an adjunct professorship at Xavier University, a brief VP stint at Gambro (acquired by Baxter 2013) and Snow Creations, LLC, giving his location as Ohio. Tunstall Healthcare Group CEO Gordon Sutherland also is a veteran of Invacare (as head of EMEA) and Gambro.
Our Readers will recall the sudden change at Tunstall Americas three years ago when Mr. Pittock was ‘unveiled’ at the Medical Alert Monitoring Association meeting by then Tunstall Group CEO Paul Stobart, replacing Bradley Waugh [TTA 14 Mar 14]. Mr. Pittock was still listed on the Tunstall Group website as CEO North America through May 26, but as of this writing (June 6) the leadership roster has been updated with Mr. Meyer’s picture and brief bio.
This Editor hopes that Mr. Meyer makes headway in the complex and crowded US PERS and safety market. Tunstall acquired in 2011 one of the most successful PERS/monitoring businesses here, AMAC, but failed to build substantially on their established business. One of the last appearances of Mr. Pittock in the press was in February for the Ripple Network Technologies personal safety device, where Tunstall Americas was providing the 24/7 emergency monitoring [TTA 1 Feb]. A great idea, but by March 3, Ripple had canceled its Kickstarter fundraising and their last Twitter post was March 21, indicating the company has gone dark or out of business. It is another example of how difficult it is to make headway here in the Americas. Is it acquire another company–or go home?
Tunstall Healthcare Group in UK outlined today their five-year public, global strategic vision, along with a fresh investment of £100 million during this timeframe (~£20 m per year) to transition their connected care systems over to IP and cloud technology. The initiative, dubbed Connected Healthcare 2020, is centered on:
- Leading the switch to IP infrastructure–transitioning away from analogue (analog) services and devices to connected digital and mobile (cellular, Wi-Fi, Bluetooth)
- Extending managed services–offering a wide variety of services end-to-end including full outsourcing
- Developing new consumer propositions through innovation–tapping into demand, often private pay, for high quality home care not provided by carers (caregivers)
- Developing new models of care in the home through integration–coordination of social care and healthcare
The Yorkshire Post article also points out, through their separate comments with CEO Paul Stobart, that prospective markets include developing nations with aging populations such as Mexico, South Korea and Turkey. Tunstall claims market leadership in UK, Germany, France, Spain, the Netherlands, Belgium, Sweden, Denmark, Finland and Australia, as well as fourth position in the US. The TECS (technology enabled care services) initiative will create about a dozen jobs per year at the Whitley HQ, adding to their present 650 there and their total globally of 3,500. Tunstall release
We wonder if in the US we will see more of Tunstall at events like the mHealth Summit. Tunstall Americas has a refreshed website and communications as ‘The voice of connected health’, is more strongly promoting their call/contact services and its HQ location in New York City. We’ve previously noted their recent home care acquisitions and partnership with QMedic.
[grow_thumb image=”http://telecareaware.com/wp-content/uploads/2014/07/Big-T-thumb-480×294-55535.gif” thumb_width=”150″ /]Breaking News.
The topline of Tunstall Healthcare Group’s
2014 results (through 30 Sept 14) is now (partly) public thanks to the Yorkshire Post
, Tunstall’s ‘hometown paper’. (We do note that it was published on 23 Dec, in the ‘dead of night’ rolling up to the Christmas holiday.) Notably, there is no report on the Tunstall website and it is too early to show on standard corporate reporting sites such as DueDil and CompanyCheck. The YP
article appears to be written partly in press release-speak, which we do not fault them for on limited news available. In summary:
- In the 2014 FY ended 30 September, revenues were £215 million. FY2013 was £221 million, a decrease of £6 million (2.7 percent).
- A corresponding but greater EBITDA (earnings before interest taxation depreciation and amortization) drop to £43.0 million. FY 2013 was £52.7 million, a decrease of £9.7 million (18.4 percent).
- The good news: revenues up 6.8 percent in the Nordics, Southern Europe, Central Europe, and Australasia; Spain’s Televida as a market leader also a bright spot [TTA 19 Dec].
- No such good news in UK and the US (more…)
Breaking News Tunstall Healthcare Group quietly announced on 25 September an additional investment of £20 million from its private equity owner, Charterhouse Capital Partners. Our readers know from our May and July articles the business challenges Tunstall has faced. We have particularly focused on–as have Bloomberg in May, this Editor and our Founder/EIC Emeritus Steve Hards over the years–on the heavy burden of Tunstall’s debt service, multiple management changes on both sides of the Atlantic, and a decided ‘failure to launch’ in the US market.
Readers of the Sunday Times woke up to this headline and lede (what news writers use to introduce the topic and entice you to read on):
Headline: £20m to steady ship at Tunstall
Lede: CHARTERHOUSE Capital Partners, one of the City’s oldest and most secretive private equity firms, has been forced to provide a multimillion-pound lifeline to another of its investments. A fortnight ago, Charterhouse ploughed £20m into Tunstall, a healthcare technology company that makes equipment to monitor the elderly and sick at home.
Insider Media Limited (business news review) had a more measured take in its ‘Yorkshire News’ section:
Headline: BACKERS PUMP £20M INTO HEALTHCARE FIRM (more…)