Industry veteran Martin D. Madaus, DVM, PhD, will be named to the new roles of chairman and CEO of Ortho-Clinical Diagnostics (OCD) when the private equity acquisition of the firm is completed later this year.
Announcement of the pending appointment was made at the end of February by the Carlyle Group, which in January agreed to pay $4.15 billion to acquire OCD, the in vitro diagnostics business unit of diversified healthcare giant Johnson & Johnson. Headquartered in Raritan, NJ, OCD is one of the world’s largest providers of solutions for screening, diagnosing, monitoring, and confirming diseases, and generated revenues of $2.16 billion in 2012. Eric Compton, worldwide president of OCD, will continue with the company following the close of the transaction.
Introduced to OCD during a global employee meeting, Madaus said, “I am pleased by the opportunity to join Ortho-Clinical Diagnostics and look forward to working with such a talented group of professionals around the world.
“I am excited at the prospect of leading the organization through its next phase of growth, driven by new product innovation and geographic expansion,” he added. “Eric and his team have accomplished great things as part of Johnson & Johnson and I look forward to helping transform OCD into a global diagnostics leader as a standalone entity.”
“OCD has made strategic investments in research and development programs over the past few years, and the company is poised for continued success in the future,” said Compton. “Together with Martin and the team at Carlyle, we believe OCD is positioned to accelerate growth globally through new product introductions.”
Madaus is currently executive chairman of the board for Quanterix, a venture-backed firm specializing in high-definition immunoassay technologies for research and diagnostic applications. He previously served as president, chairman, and CEO of Millipore Corp., which was acquired by Merck KGaA in 2010. Before joining Millipore, Madaus was president, CEO, and head of North American operations for Roche Diagnostics Corp.
Madaus earlier held a number of senior-level sales, marketing, and product management positions with Boehringer Mannheim Corp. in both Germany and the United States. In addition to his role at Quanterix, Madaus is a director at Carlyle portfolio company PPD, and Mettler Toledo. He recently stepped down from a board position with Covidien.
Madaus holds a doctor of veterinary medicine degree from the University of Munich, Germany, and a doctorate in veterinary medicine from the Veterinary School of Hanover, Germany.
“As an experienced executive with an exemplary track record of growing businesses, Martin can lead OCD through its transition to an independent company and transformation into a leading diagnostics platform,” said Stephen H. Wise, Carlyle managing director. “We believe our long-term partnership with Martin in the in vitro diagnostics industry will create significant value for our investors over the coming years.”
The Carlyle Group is a global alternative asset manager headquartered in New York City. Carlyle has expertise in a variety of industries, including defense and government services, financial services, healthcare, technology and business services, and telecommunications and media. At the end of last December, the group had $189 billion of assets under management across 118 funds and 100 fund-of-funds vehicles.