Cedara replaces Greenberg as chief executive

PACS and medical imaging software developer Cedara Software has named Abe Schwartz as CEO, effective immediately. Schwartz, who has served as a director of the Mississauga, Ontario-based firm since August, replaces longtime CEO Dr. Michael Greenberg.

In another management move, Cedara appointed Peter Cooper as chairman. Cooper had been chairing Cedara's organization dynamics committee.

In other company news, Cedara reported fiscal fourth-quarter revenues from continuing operations of $7.1 million (U.S.), down 18.7% compared with the $8.8 million posted for the same period last year. For the quarter (end-June 30), the vendor had a net loss of $252,000, compared with a net loss of $28.7 million in the fourth quarter of fiscal 2001.

For the fiscal year, Cedara reported revenue from continuing operations of $28.7 million, down 2.6% from the $29.5 million booked in fiscal 2002. Continuing operations produced a net loss of $2.3 million, compared with a net loss of $16.7 million last year.

New CEO Schwartz said that Cedara will focus all of its resources in fiscal 2003 on improving its financial position and operating results.

By AuntMinnie.com staff writers
September 16, 2002

Related Reading

Cedara debuts x-ray acquisition console, August 22, 2002

Cedara debuts I-Route, August 2, 2002

Cedara adds 3-D volume rendering, May 17, 2002

Cedara revenues fall in Q3, May 16, 2002

Cedara lands funding from Toyo, May 15, 2002

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