by
Lauren Dubinsky, Senior Reporter | April 01, 2015
Royal Philips announced on Monday that Robert Cascella, former president and CEO of Hologic, Inc., was appointed as the executive vice president. He will take the place of Gene Saragnese, who will be retiring from Philips on May 1.
In his new position, Cascella will lead Philips’ multi-billion dollar imaging businesses as CEO of the Business Group Diagnostic Imaging, comprising MRI, CT, PET and X-ray. He will also oversee the Imaging-Guided Therapy business, which includes the Volcano business, and the Ultrasound business.
Over the course of his thirty-year career in the health care industry, Cascella acquired extensive senior management, operational and finance experience. From 2003 to 2013, he was president and CEO of Hologic and under his direction, the company diversified its portfolio and its revenues grew significantly, as a result of new innovations, acquisitions, and developing strong customer relationships, according to a release.
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Previously, he was a managing partner at CFG Capital LLC, an investment banking firm specializing in health care, for five years. Before that, he spent two years as chief operating officer and vice president of finance at NeoVision Corporation, a manufacturer of 3-D ultrasound technology for interventional breast procedures.
“Rob has an impressive track record in value creation in the health care industry, with a strong focus on integrated solutions,” Frans van Houten, CEO of Royal Philips, said in a statement. “He will bring a wealth of expertise in diagnostic imaging, together with deep customer insights at a crucial time for Philips, as we accelerate our transformation to become a global leader in HealthTech and shape the future of the industry.”
Cascella will be stationed in Andover and Amsterdam and will report directly to van Houten.
“I am absolutely thrilled to be joining Philips,” Cascella said in a statement. “The company’s tremendous history of innovation, its leading position in medical imaging and its customer-centric focus on the HealthTech opportunity will make it both an exciting and rewarding place to work. I look forward to contributing to its future success.”
