Glenn H. Epstein, formerly Chairman and Chief Executive Officer of Intermagnetics General Corporation (a NASDAQ listed company), successfully negotiated the sale of Intermagnetics to Philips Medical Systems for $1.3 billion in November 2006. He recently left Philips after leading a successful integration of both companies' MR imaging businesses.
Mr. Epstein began his professional career as an engineer at General Electric before moving to the U.K. to take on progressive senior management roles with Oxford Instruments plc. He was recruited to Intermagnetics in 1997 as president and chief operating officer, and he was elected to the company's board of directors in 1998. He was appointed CEO in 1999. The board unanimously elected Mr. Epstein as chairman of the board of directors in 2002.
Under Mr. Epstein's leadership, Intermagnetics positioned itself as a unique provider of medical imaging and diagnostic products resulting in a tripling of revenues and dramatically improved profitability and cash flow, while increasing the company's market capitalization from less than $100 million to more than $1 billion.
These achievements helped the company to attain a ranking of number 51 for America's Fastest Growing Small Companies by Fortune Small Business 100 and number 78 for The 100 Hot Growth Businesses by BusinessWeek, both in 2002, as well as The New York Capital District Business Review's Large Company of the Year Award for 2002.
In October 2003, Forbes listed Intermagnetics as one of their Top 200 Growth Stocks. Personally, Mr. Epstein was praised by CNN's Lou Dobbs Tonight as CEO of the Week in July 2003, and he has made several guest appearances on various CNBC news programs. RT Image Magazine voted him number 13 of the 25 Most Influential in Radiology in September, 2006. Two months later, he received the Executive of the Year Award for 2006 from New York Capital District Business Review, and in January 2007, he was listed as one of the Top 25 People Who Make A Difference by the Albany Times Union Newspaper. A special honor was bestowed when Mr. Epstein was among a small group of business leaders who participated in a White House briefing for Lawrence Lindsey, former assistant to the president for economic policy. He and five other executives presented their views on the state of the economy and its impact on their businesses.
Mr. Epstein received a BS in mechanical engineering from the University of Vermont, College of Engineering, Math and Business Administration in 1981. He is a member of the board of directors of Fuel Cell Energy (NASDAQ: FCEL) and serves on the advisory board of the College of Engineering at the University of Vermont.