Birtcher Corp. Names Fisher as President
A noted turnaround specialist, William J. Fisher, on Tuesday was named president of Birtcher Corp., an ailing El Monte-based medical-equipment manufacturer.
He replaces Francis J. Kelly, 60, who resigned to pursue personal interests after serving as president since 1981.
For the record:
12:00 a.m. Aug. 8, 1985 FOR THE RECORD
Los Angeles Times Thursday August 8, 1985 Home Edition Business Part 4 Page 2 Column 4 Financial Desk 2 inches; 43 words Type of Material: Correction
Birtcher Corp., an El Monte-based medical-technology firm, had net income in 1984 of $3.4 million on revenue of $7 million, but it sustained a loss of $862,745 from continuing operations for the period. It was incorrectly reported in Wednesday’s editions of The Times that Birtcher had suffered a net loss.
The appointment of Fisher, 42, was announced by Birtcher Chairman E.V. Jarvis, who explained in a prepared statement that “this appointment comes in recognition of Bill Fisher’s substantial skills in effecting corporate turnarounds.” Fisher had been elected a director in June.
Birtcher Corp. is a leading manufacturer of electronic medical devices for use in electrosurgery, radiology and cardiac monitoring. In its 1984 calendar year, however, Birtcher lost $3.4 million on sales of $7.1 million. And in the first quarter of the current fiscal year, the company lost $588,511 on sales of $1.6 million.
Fisher said that among his first priorities as company president will be the acquisition and development of new products and intensified marketing of existing devices. Fisher noted that Birtcher has already instituted cost-reduction programs to restore the company to profitability.
Fisher, director of the Newport Beach management consulting firm William Fisher & Co., has helped turn around several medical and biotechnology companies in recent years, notably American Diagnostic Laboratories of Newport Beach, a biotech company that was acquired by Hoffman-LaRoche in 1983.
