Michael John Cudahy (/ˈkʌdəheɪ/ CUD-ə-hey); March 24, 1924 – March 11, 2022) was an American entrepreneur, business executive, and philanthropist.
Michael John Cudahy | |
|---|---|
| Born | March 17, 1924 |
| Died | March 11, 2022 (aged 97) U.S. |
| Occupation(s) | entrepreneur, business executive and philanthropist |
Early life, family and education
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Born in Milwaukee, Wisconsin, in 1924, Cudahy was the son of John Cudahy, United States ambassador to Ireland, Poland and Belgium. His grandfather was Patrick Cudahy, founder of the Patrick Cudahy Meat Company.[1][2][3]
On August 2, 2007, WTMJ-AM in Milwaukee reported that Michael Cudahy was one of several private investors considering purchasing Midwest Airlines.[4]
Career
editAlong with Warren Cozzens, Cudahy founded Marquette Electronics in 1965 and served as chairman and CEO. The company went public in 1991. After starting with only $15,000 in capital, the company went on to have over $350 million annually in sales.[citation needed] This company created the nation's first central electrocardiographic system at Northwestern University Medical School. The machine became standard in hospitals throughout the United States.[citation needed] The company was also noted for having one of the first on-site daycare centers in the nation.[citation needed]
In 1982, he and Warren bought the failing Patient Monitoring Business Unit from GE (then known as General Electric Medical Systems Division) and combined it with the existing business (primarily diagnostic equipment).[citation needed] In 1998, however, he sold Marquette Electronics (by then known as Marquette Medical Systems) to GE for $810 million.[5] The company exists today as part of the Clinical Systems division of GE Healthcare, a subsidiary of the American conglomerate. After stepping aside at his company, Cudahy focused his energies on philanthropy and serving on the boards of other companies.
In 1999, according to U.S. Securities and Exchange Commission (SEC) filings, he invested $10 million in TomoTherapy a Madison, Wisconsin, biotechnology start-up. It went public on May 9, 2007, with the stock symbol TOMO. Mr. Cudahy's 10% interest was valued at more than $100 million by September 2007.[citation needed]
He told the story of the founding of Marquette Electronics in the book Joyworks (2002; ISBN 0-938076-17-5).
Personal life and death
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Cudahy was still actively working in the lead up to his 90th birthday in March 2014.[6]
Cudahy died on March 11, 2022, at the age of 97.[7]
References
edit- ^ "Cudahy, Patrick 1849 - 1919". Dictionary of Wisconsin History. Wisconsin Historical Society – via wisconsinhistory.org.
- ^ Saddle and Sirloin Portrait Catalogue (PDF). North American International Livestock Exposition. Archived from the original (PDF) on 2008-07-03 – via livestockexpo.org.
- ^ Sherman, Jeff (August 28, 2002). "Milwaukee Talks: Michael Cudahy". OnMilwaukee.com.
- ^ McCrady, Melissa (August 2, 2007). "Milw. Investors Fight to Keep Midwest Airlines". WTMJ-TV. Archived from the original on September 12, 2012.
- ^ Hendrickson, By Amy Rabideau Silvers, Bill Glauber, Ricardo Torres and Samantha. "Wisconsin business leader, philanthropist Michael J. Cudahy has died at 97". Journal Sentinel. Retrieved 2024-04-24.
{{cite web}}: CS1 maint: multiple names: authors list (link) - ^ Glauber, Bill (8 March 2021). "Michael Cudahy looks forward to 90th birthday, and beyond". Milwaukee Journal Sentinel. Retrieved 16 December 2021.
- ^ "Milwaukee philanthropist Mike Cudahy dies at 97". fox6now.com. 14 March 2022.