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Report No. : |
318687 |
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Report Date : |
27.04.2015 |
IDENTIFICATION DETAILS
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Name : |
ZOLL MEDICAL CORPORATION |
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Registered Office : |
269 Mill Road, Chelmsford, MA 01824 |
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Country : |
United
States |
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Date of Incorporation : |
04.09.1980 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
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No. of Employees : |
1,908 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Exist |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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United States |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
UNITED STATES - ECONOMIC OVERVIEW
The US has the largest and most technologically powerful economy in the world, with a per capita GDP of $49,800. In this market-oriented economy, private individuals and business firms make most of the decisions, and the federal and state governments buy needed goods and services predominantly in the private marketplace. US business firms enjoy greater flexibility than their counterparts in Western Europe and Japan in decisions to expand capital plant, to lay off surplus workers, and to develop new products. At the same time, they face higher barriers to enter their rivals' home markets than foreign firms face entering US markets. US firms are at or near the forefront in technological advances, especially in computers and in medical, aerospace, and military equipment; their advantage has narrowed since the end of World War II. The onrush of technology largely explains the gradual development of a "two-tier labor market" in which those at the bottom lack the education and the professional/technical skills of those at the top and, more and more, fail to get comparable pay raises, health insurance coverage, and other benefits. Since 1975, practically all the gains in household income have gone to the top 20% of households. Since 1996, dividends and capital gains have grown faster than wages or any other category of after-tax income. Imported oil accounts for nearly 55% of US consumption. Crude oil prices doubled between 2001 and 2006, the year home prices peaked; higher gasoline prices ate into consumers' budgets and many individuals fell behind in their mortgage payments. Oil prices climbed another 50% between 2006 and 2008, and bank foreclosures more than doubled in the same period. Besides dampening the housing market, soaring oil prices caused a drop in the value of the dollar and a deterioration in the US merchandise trade deficit, which peaked at $840 billion in 2008. The sub-prime mortgage crisis, falling home prices, investment bank failures, tight credit, and the global economic downturn pushed the United States into a recession by mid-2008. GDP contracted until the third quarter of 2009, making this the deepest and longest downturn since the Great Depression. To help stabilize financial markets, in October 2008 the US Congress established a $700 billion Troubled Asset Relief Program (TARP). The government used some of these funds to purchase equity in US banks and industrial corporations, much of which had been returned to the government by early 2011. In January 2009 the US Congress passed and President Barack OBAMA signed a bill providing an additional $787 billion fiscal stimulus to be used over 10 years - two-thirds on additional spending and one-third on tax cuts - to create jobs and to help the economy recover. In 2010 and 2011, the federal budget deficit reached nearly 9% of GDP. In 2012 the federal government reduced the growth of spending and the deficit shrank to 7.6% of GDP. Wars in Iraq and Afghanistan required major shifts in national resources from civilian to military purposes and contributed to the growth of the budget deficit and public debt. Through 2011, the direct costs of the wars totaled nearly $900 billion, according to US government figures. US revenues from taxes and other sources are lower, as a percentage of GDP, than those of most other countries. In March 2010, President OBAMA signed into law the Patient Protection and Affordable Care Act, a health insurance reform that was designed to extend coverage to an additional 32 million American citizens by 2016, through private health insurance for the general population and Medicaid for the impoverished. Total spending on health care - public plus private - rose from 9.0% of GDP in 1980 to 17.9% in 2010. In July 2010, the president signed the DODD-FRANK Wall Street Reform and Consumer Protection Act, a law designed to promote financial stability by protecting consumers from financial abuses, ending taxpayer bailouts of financial firms, dealing with troubled banks that are "too big to fail," and improving accountability and transparency in the financial system - in particular, by requiring certain financial derivatives to be traded in markets that are subject to government regulation and oversight. In December 2012, the Federal Reserve Board (Fed) announced plans to purchase $85 billion per month of mortgage-backed and Treasury securities in an effort to hold down long-term interest rates, and to keep short term rates near zero until unemployment drops below 6.5% or inflation rises above 2.5%. In late 2013, the Fed announced that it would begin scaling back long-term bond purchases to $75 billion per month in January 2014 and reduce them further as conditions warranted; the Fed, however, would keep short-term rates near zero so long as unemployment and inflation had not crossed the previously stated thresholds. Long-term problems include stagnation of wages for lower-income families, inadequate investment in deteriorating infrastructure, rapidly rising medical and pension costs of an aging population, energy shortages, and sizable current account and budget deficits.
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Source
: CIA |
Company name: ZOLL MEDICAL CORPORATION
Address: 269 Mill Road, Chelmsford, MA 01824
- USA
Telephone: +1
978-421-9655
Fax: +1
978-421-0025
Website: www.zoll.com
Corporate ID#: 042711626
State: Massachusetts
Judicial form: Corporation – Profit
Date incorporated: September
4, 1980
Stock: 100
shares common (no share issued)
Value: USD
0.01= par value
Name of manager: Richard
A. PACKER
Business:
ZOLL Medical Corporation develops, manufactures, and markets
resuscitation devices, related data management and software solutions, and
temperature management technology worldwide.
The company provides technologies that help clinicians, EMS and fire
professionals, and lay rescuers in treating victims needing resuscitation and critical
care. It offers lifevest wearable defibrillators for various indications
comprising heart attack, before or after bypass surgery, or stent placement;
patients with cardiomyopathy or congestive heart failures; and patients
awaiting an implantable defibrillator or after removal of an implantable device
due to infection or other reasons, as well as AutoPulse, an automated
cardiopulmonary resuscitation (CPR) device for the temporary circulation of
blood.
The company also provides professional defibrillators to treat patients
with sudden cardiac arrest (SCA); automated external defibrillators that
analyze the heart’s rhythm and allow a rescuer to deliver an electric shock to
a victim of SCA; and disposable defibrillator electrodes to monitor and deliver
electrical therapy to patients, as well as provide CPR feedback.
In addition, it offers intravascular temperature management technology
related to therapeutic hypothermia and rewarming; Power Infuser for the
delivery of intravenous fluids; ZOLL RescueNet, a suite of data management
solutions to maximize specific business processes; and CodeNet for data
collection during resuscitation and organizing data into useful information
related to performance measures for resuscitation practices.
The company markets its products directly to hospitals and EMS
organizations, as well through distributors, manufacturer’s representatives,
and other indirect channels in the public safety market.
ZOLL Medical Corporation was founded in 1980 and is headquartered in Chelmsford,
Massachusetts.
As of April 25, 2012, ZOLL Medical Corporation operates as a subsidiary
of Asahi Kasei Corporation.
Last news:
On September 26, 2014, ZOLL Medical Corporation was awarded a USD
39,848,375 federal contract by the Defense Logistics Agency Troop Support,
Philadelphia, for access to airworthy defibrillators inventory for the U.S.
Army, U.S. Navy, U.S. Air Force, U.S. Marine Corps and federal civilian
agencies.
On March 9, 2015, ZOLL®Medical Corporation announced that the company’s
ResQCPR System has been granted premarket approval (PMA) by the U.S. Food and
Drug Administration (FDA) to market and begin U.S. distribution of the CPR
adjunct system. The technology, which has been shown to improve the likelihood
of survival in adult patients with non-traumatic cardiac arrest, is expected to
be commercially available in mid-2015. A pivotal study evaluating the ResQCPR
System, known as the ResQTRIAL, which the FDA considered in its approval
process, demonstrated a 49% increase in survival to one year in adult patients
who experienced out-of-hospital cardiac arrest of presumed cardiac etiology, as
compared to treatment with conventional manual CPR. If widely implemented, the
ResQCPR System could save thousands of lives each year in the U.S. from
out-of-hospital cardiac arrest alone, based on these study results. The ResQCPR
System uses Intrathoracic Pressure Regulation (IPR), a proprietary,
non-invasive therapy developed by Advanced Circulatory Systems Inc. of
Roseville, Minn., which ZOLL acquired in January 2015. This innovative
technology uses the body’s own mechanisms to enhance circulation without the
use of pharmaceutical or other agents. The ResQCPR System is comprised
of the ResQPOD® Impedance Threshold Device and the ResQPUMP® Active Compression-
Decompression CPR Device, which work synergistically to improve perfusion.
Office of the Foreign Assets Control (OFAC):
The company is not listed on the OFAC list.
The Specially Designated Nationals (SDN) List is a publication of OFAC
which lists individuals and organizations with whom United States citizens and
permanent residents are prohibited from doing business.
EIN: 04-2711626
Staff: 1,908
Operations & branches:
At the headquarters, we find
a factory, warehouse and office, owned.
Shareholders:
The Company was previously listed with the Nasdaq and delisted on May 7,
2012.
Shareholders include:
- Asahi Kasei Corporation (major shareholder)
1 - 105 Kanda Jinbocho,
Chiyoda-ku, Tokyo, 101-8101, Japan
- Vanguard Group Inc
- Waddell & Reed Investment Management Company
- Ivy Investment Management Company
- Capital Research Global Investors and others.
Management:
Richard A. PACKER is Executive Director and CEO.
Mr. Packer served as the President of ZOLL Medical Corp., from May 1996
to June 2008 and served as its Chief Operating Officer from 1996 to November
1999. From 1992 to 1996, he served as Chief Financial Officer and Vice
President of Operations of Zoll Medical Corporation and served as its Executive
Chairman from November 1999 to November 2010. From 1987 to 1992, Mr. Packer
served as the Vice President of various functions for Whistler Corporation.
Before joining Whistler in 1987, he served as a manager with the consulting
firm of PRTM/KPMG, specializing in operations of high technology companies. Mr.
Packer was Chairperson of MassMEDIC, the industry council for Medical Devices
in Massachusetts. He serves as a Director of Lifecor, Inc. He has been a Director
of Bruker Corporation (Formerly Bruker BioSciences Corp.) since May 16, 2007.
He has been an Executive Director of ZOLL Medical Corp. since 1996. Mr. Packer
serves as a member of the Compensation Committee of Lifecor, Inc. He serves on
the Steering Committee for the Massachusetts Life Sciences Initiative, and is a
board member of the Massachusetts Medical Device Development Center, a
University of Massachusetts initiative to incubate medical device companies.
Mr. Packer holds a B.S. and M. Eng. degrees from the Rensselaer Polytechnic
Institute and an MBA from the Harvard Graduate School of Business
Administration.
Jonathan A. RENNERT, President
He serves as President of ZOLL Core Products at ZOLL Medical
Corporation.
Mr. Rennert served as President of ZOLL Medical Corp. since June 2008
and is primarily responsible for managing it's core defibrillator/resuscitation
business. Mr. Rennert served as Chief Executive Officer and President of
BioProcessors Corp. since January 21, 2007. He served as Vice President and
General Manager, Analytical Sciences of PerkinElmer, Inc. He helped build and
expand market-leading positions for PerkinElmer in spectroscopy,
chromatography, thermal analysis and informatics. Prior to PerkinElmer, he held
numerous leadership positions in operations and engineering at United
Technologies' Carrier Corporation and at General Electric.
Mr. Rennert holds Master's degrees in Mechanical Engineering and
Management from the Massachusetts Institute of Technology, and a Bachelor's degree
in Mechanical & Aerospace Engineering from Princeton University.
John BERGERON, Vice President.
Takashi MUKUNO is a Director.
Partnership and subsidiaries:
Bio-Detek, Incorporated, incorporated in Massachusetts.
ZOLL Medical (U.K.) Ltd, incorporated in United Kingdom.
ZOLL Medical Deutschland (GmbH), incorporated in Germany.
ZOLL Medical Canada, Inc., incorporated in Canada.
ZOLL Data Systems, Inc., incorporated in Delaware.
ZOLL Medical France SNC, established in France.
ZOLL Medical Australia, Pty. Limited, incorporated in Australia.
ZOLL International Holding BV, incorporated in the Netherlands.
ZOLL Medical New Zealand Pty. Limited, incorporated in New Zealand.
ZOLL Circulation, Inc., incorporated in Delaware.
ZOLL Medical Österreich, GmbH, incorporated in Austria.
ZOLL Securities Corporation, incorporated in Massachusetts.
ZOLL Lifecor Corporation, incorporated in Delaware.
ZOLL LC International GmbH, incorporated in Germany.
In United States, privately
held corporations are not required to publish any financials.
On a direct call, a
financial assistant controlled the present report.
Sales declared for year
2013 is in excess of USD 600,000,000+ with a net profit of USD 40,000,000=
No financials available at this
time for year 2014.
Banks: Bank of America
US
Bank
Legal filings & complaints:
State: Delaware
Case number: 1:12-cv-01778-LPS
Plaintiff: ZOLL
Medical Corporation
Defendant: Respironics
Inc.Leonard P. Stark, presiding
Date filed: 12/27/2012
Date of last filing: 03/17/2015
Cause: Patent
infringement
State: Massachusetts
Case number: 1:10-cv-11041-NMG
Plaintiff: Koninklijke
Philips Electronics N.V. et al
Defendant: Zoll
Medical Corporation
Nathaniel M.
Gorton, presiding
Leo T. Sorokin, referral
Date filed: 06/18/2010
Date of last filing: 01/12/2015
Cause: Patent
infringement
State: Texas
Case number: 7:15-cv-00063-O
Plaintiff: AutoMedx
Inc.
Defendant: ZOLL
Medical Corp. et al
Reed C O'Connor,
presiding
Date filed: 04/03/2015
Date of last filing: 04/24/2015
Secured debts summary (UCC):
numerous UCC files listed in Massachusetts