2013 pay: $9.63 million
2012 pay: $9.97 million
2013 was a rough year for CareFusion ($CFN). It was slapped with three Class I FDA recalls, one involving its AVEA ventilators and two others tied to its Alaris line of infusion pumps.
After facing regulatory woes for years following its spinoff from Cardinal Health ($CAH) in 2009, CareFusion last year agreed to pay about $41 million to settle allegations that it mismarketed a clinical skin prep product.
After putting those product lines behind the company, CEO Kieran Gallahue then looked to growth.
In November, CareFusion announced plans to buy GE Healthcare's ($GE) Vital Signs arm, an acquisition it said could transform the company into a giant in the respiratory and anesthesia consumables business as well as fuel a broader global expansion. That deal, which effectively doubles the size of the company's specialty disposable business, got U.S. and Chinese approval in January.
CareFusion said it will use the Vital Signs division's "complementary" international sales force to boost global sales of its current product offerings, including infusion pumps, automated medication dispensing and patient identification systems, ventilation and respiratory devices and surgical instruments, among other medical devices and equipment.
In another effort to expand its product line, Gallahue made a second deal to close out the year, saying in December that it will invest $100 million in Israeli devicemaker Caesara Medical Electronics, which designs, makes and markets infusion and syringe pumps, plus related accessories and equipment. The deal gives CareFusion a minority stake in the pump maker, helps complement the company's existing infusion product line and offers new ways to grow.
In 2013, Gallahue brought in $1.1 million in base pay, $3.7 million in stock awards, $3.7 million in stock awards and $948,750 in nonequity incentives. -- Emily Mullin (email | Twitter)
- here's CareFusion's proxy statement
CareFusion clears hurdles in $500M deal for a GE unit
CareFusion pours $100M into Israeli infusion pump maker for a minority stake
CareFusion scoops up GE Healthcare Vital Signs arm for $500M
CareFusion will pay $41M to settle federal probe