DALLAS -- OraMetrix, Inc., a leading provider of innovative oral healthcare technologies, announced today the addition of Charles L. Abraham to the executive management team and board of directors. Mr. Abraham, a medical technology veteran with more than 22 years of experience, joins the company as its Chief Executive Officer.
Mr. Abraham began his career at GE Medical Systems where he spent 17 years in sales, product management and general management roles. His last assignment was as a Global Business Manager for the vascular imaging business in Paris, France. After GE, Mr. Abraham joined Nellcor Puritan Bennett, the world leader in products and services that diagnose, monitor and treat the respiratory impaired patient, as the Vice President & General Manager of Global Sleep Solutions Business. At Nellcor, he developed and implemented a global strategic plan for the consolidation of seven businesses into a single global business unit.
"Charles brings to OraMetrix proven leadership and excellent experience in building customer-focused, medical device businesses," said Bill Link, chairman of the OraMetrix board and managing director at Versant Ventures. "The combination of international experience, expertise in leading development and marketing teams and successfully introducing disruptive technology makes him a great fit for OraMetrix."
Before joining OraMetrix, Mr. Abraham was the Chief Executive Officer of Florida-based eMerge Interactive, Inc., an Internet and technology-based company delivering revolutionary solutions to the U.S. beef production industry. While at eMerge, Mr. Abraham built the United States' largest cattle marketing service and grew revenues from less than $1 million to more than $1 billion in three years. In 1999, he led the company to a $105 million initial public offering.
OraMetrix, founded in 1998, is a leading provider of innovative, technology-based solutions designed to improve the quality of orthodontic care. Headquartered in Dallas, Texas, OraMetrix has development centers in Berlin, Germany, and Dallas. The company plans to launch its first major product offering to the U.S. market in the third quarter of 2002. For more information about OraMetrix, call 972.728.5500 or go to http://www.orametrix.com/ .
Contact: Lea Ellermeier Nesbit OraMetrix, Inc. 972.728.5500
MAKE YOUR OPINION COUNT - Click Here http://tbutton.prnewswire.com/prn/11690X42824226
Contact: Lea Ellermeier Nesbit of OraMetrix, Inc., +1-972-728-5500
Website: http://www.orametrix.com/
Apr. 29--By now, executives at Cambridge Technology Partners Inc. must be asking themselves how they managed to arrive so late to the Internet party.
Yesterday, the former Wall Street darling reported a first-quarter loss of $4.3 million, on the heels of a $17.3 million loss in the previous quarter. In the past year, the company's stock has spiraled downward, and key employees have abandoned the firm.
Ironically, Cambridge Technology is struggling at a time when Web businesses and Fortune 1000 companies are clamoring for technology and consulting services to build their Web sites.
Analysts say Cambridge Technology failed to recognize that trend early in the game and is struggling to catch up. In contrast, rivals like Sapient Corp., also based in Cambridge, and Viant Corp. of Boston dedicated more resources to e-business and raced ahead.
Cambridge Technology has the distinction of being "a company in a hot space that's not putting in hot numbers," said William Loomis, an analyst with Legg Mason Wood Walker.
Investors have noticed. Two years ago, the stock was trading above $50 a share. Yesterday, it closed at $11 on Nasdaq Stock Market, down 18.75 cents.
Cambridge Technology's recent losses -- the first in at least seven years -- stem from its push into Web projects. Analysts anticipate the company will be profitable in the second half of the year.
"We're driving toward that," said Donna LaVoie, vice president of investor relations for Cambridge Technology.
In the first quarter, ended March 31, sales declined 2.5 percent to $147.6 million, compared to $151.4 million in the year-earlier period. The company posted a $7.5 million profit in first-quarter 1999.
Jack Messman, chief executive, said Cambridge Technology, is now ahead of schedule in shifting its business to Web projects.
"Worldwide, we're winning important e-projects with brand name clients that are key to our future growth," he said in a prepared statement.
Cambridge Technology's e-business clients include Textron Inc., best known as a manufacturer of aircraft, and the automotive giant JM Family Enterprises Inc. The technology firm also helped Wal-Mart Stores Inc., the world's largest retailer, integrate its off-line and online businesses.
In the business of building Web sites, companies that wield systems integration skills are hot commodities, analysts say. And even though Cambridge Technology has struggled with a wave of defections, it still has that technical savvy and "a lot of great minds," said Linda Cohen, an analyst and managing vice president at Gartner Group.
The company's challenge will be to get its customers up and running as quick as possible while solving management issues that have left employees shaken.
In July, the company's board of directors asked founder and chief executive James K. Sims to leave, according to recently filed court papers. In the suit, Cambridge Technology accuses Sims of "secretly" creating an e-commerce consulting firm at the same time he was being paid to advise his former employer following his departure.
"Maybe Jim [Sims] took a little long to leave, but when he left, things were kind of in an uproar," Cohen said. "It's hard for anyone or any group to really take the reins there in a strong way."
To see more of The Boston Globe, or to subscribe to the newspaper, go to http://www.boston.com/globe
(c) 2000, The Boston Globe. Distributed by Knight Ridder/Tribune Business News.
