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Spacelabs Medical Inc history
Spacelabs Medical Inc company history timeline
Ben Ettelson and James A. Reeves founded Spacelabs in 1958 to collaborate with the United States Air Force to develop systems to monitor the vital signs of United States astronauts in space.
In 1966, Spacelabs introduced its ground-breaking medical technology to civilian healthcare facilities.
Another first occurred in 1979 that changed the direction of critical care monitoring when Spacelabs introduced a bedside arrhythmia detection monitoring module.
In 1981, Spacelabs' sales exceeded $50 million, and the following year it moved its corporate offices from Chatsworth, California, to Redmond, Washington.
In 1992, Westmark spun off Spacelabs under Carl A. Lombardi and began trading under the symbol SLMD.
In 1994, it brought out its Patient Care Information System (PCIS), which changed the monitoring network into an information network by integrating patient monitors at the patient bedside or at a central station with hospital information systems and resources.
In 1995, Spacelabs also acquired a second company, Consolidated Peritronics Medical, Inc.
In 1995, the first bedside module for continuous cardiac output monitoring debuted as well as a portable monitor for wireless network monitoring.
In addition, the company's stock price grew only two percentage points from 1992 to 2001, leading Spacelabs' largest shareholder, New York investment firm Tweedy, Browne Co. As a result, Spacelab's revenues of $300 million in 1999 amounted to only about $10 million in profits that year.
In 2000, revenues decreased to $249 million with $4.7 million in losses.
However, by 2002, after Lombardi announced his decision to retire, Spacelabs, faced with ongoing losses and with dramatic consolidation in its industry, began looking to sell itself.
Later in 2002, two-year-old GE Medical Systems purchased Instrumentarium, acquiring both Datex-Ohmeda and Spacelabs as part of the $2.06 billion purchase.
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Spacelabs Medical Inc competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Biodex | 1949 | $28.9M | 200 | 10 |
| FUJIFILM Sonosite | 1986 | $510.0M | 878 | - |
| BioGenex | 1981 | $50.0M | 210 | - |
| Pioneer Surgical | 1992 | $33.5M | 5 | - |
| Harvard Bioscience | 1901 | $94.1M | 428 | 20 |
| Arthrocare | 1995 | $378.0M | 1,000 | - |
| Lumenis | 1966 | $425.0M | 99 | 19 |
| Sciton | 1997 | $17.0M | 300 | 30 |
| Biolase | 1987 | $22.8M | 190 | - |
| Acumed | 1988 | $35.6M | 475 | - |
Spacelabs Medical Inc history FAQs
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