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Get the lowdown on the new man in charge of finances
Arrhythmia Research Technology, Inc. (NYSE MKT:HRT), operating through its wholly-owned subsidiary, Micron Products, Inc., a manufacturer of highly engineered, complex components, devices and equipment for OEM customers announced today the appointment of Mr. Derek T. Welch as the Company’s Chief Financial Officer effective January 1, 2015.
Mr. Welch has been serving as the Company’s principal financial officer and principal accounting officer since September 2013. He joined the Company as Corporate Controller in January 2013 and was appointed Secretary of the Company in March 2013.
Salvatore Emma, Jr., President and CEO, commented, “Derek is well deserved of this promotion to Chief Financial Officer. Since joining the Company, he has created value by strengthening the sophistication of our financial reporting, enforcing cost discipline and improving margin potential. Importantly, he has also provided us greater predictability in our budgeting and forecasting processes. I believe his efforts are clearly demonstrated in our improved financial performance.”
Mr. Welch brought significant financial and accounting experience in the medical industry when he joined the Company. He previously served as the Assistant Corporate Controller for Alere, Inc., a provider of point-of-care diagnostic and monitoring devices, and as the Assistant Controller of the medical services division of Fresenius Medical Care, a provider of kidney dialysis services. Previous to that, he was Senior Accounting Manager at Cytyc Corporation, a developer, manufacturer and supplier of diagnostic products, medical imaging systems and surgical products. He also served as a Division Controller for Hannaford Supermarkets.
Mr. Welch is a certified public accountant and earned his Bachelor’s Degree in Business Administration, with a concentration in accounting, from the University of New Hampshire.
Arrhythmia Research Technology, Inc., through its wholly-owned subsidiary, Micron Products, Inc., manufactures components, devices and equipment for medical, military, law enforcement, industrial and automotive applications. The Company’s orthopedic implant machining operation produces quick-turn, high volume and patient-specific, finished orthopedic implants. The Company has custom thermoplastic injection molding capabilities as well, and provides a full array of design, engineering and production services and management. The Company’s strategy for growth is to capitalize on its engineering expertise to develop proprietary products with its customers that rely on Micron’s extensive manufacturing capabilities for production.
