Whitefish Bay banker is new CEO of Fitchburg company
Emdat Inc., a Fitchburg-based provider of online-based medical transcription, has appointed Whitefish Bay resident Randy Olver as its new chief executive officer, effective immediately.
Emdat’s founding partners, who remain actively involved in the business, selected Olver to serve as CEO of the 10-year-old company. Steve Palmisano, one of the founders who had been CEO, will continue to serve as president.
"Randy’s diverse business experience is exactly what we’ve been seeking to guide Emdat to the next level so that we can continue providing world-class transcription products and services to our clients," Palmisano said. "We’ve tripled in size in the past five years and, looking forward, our business needs have grown dramatically."
Emdat, which experienced double-digit growth during the difficult business environment of the past year, remains committed to its core business model of providing medical transcription service organizations (MTSOs) and health care providers a fully managed software suite to collect, store and move data with no up-front software costs or maintenance fees.
"It’s a critical time for medical software and I am very confident in the ability of Emdat’s people and technology to evolve with industry changes and to set the pace for improvements," said Olver, who worked at U.S. Bank for 17 years. "There’s a heightened awareness within the medical community regarding ways that transcription software complements, rather than competes with, electronic medical records."
Former Monster CEO takes helm of Milwaukee company
V. Miller Newton, former chief executive officer of Monster, is the new president and CEO of PKware Inc., a Milwaukee-based provider of data-centric security and compression solutions.
Newton is credited with growing Monster from $400,000 to $45 million in revenue and from 50 to 230 employees.
Prior to being named CEO of Monster, Newton was executive vice president of sales and marketing for TMP Worldwide, a global marketing communications company and parent company of Monster (now Monster Worldwide). Newton was instrumental in taking TMP Worldwide public in 1996.
PKware originated the popular "ZIP" file compression program that has been installed on millions of computers worldwide. The company also developed SecureZIP and PKZI, which are popular programs used by IT professionals.
"PKware is an amazing company with proven data management and security solutions, a marquee customer base and a great team," Newton said. "I am excited to accelerate PKware’s efforts to help our customers address their critical concerns regarding compliance regulations, audit requirements, protection of sensitive information and reducing overall operation costs."
In addition to his tenure with Monster, Newton was previously CEO of Netkey, a leading provider of applications and management software for self-service kiosks and digital signage. Netkey was acquired by NCR.
PKware was recently acquired by an investment group led by Novacap, a Canadian private equity firm. Additional investors include Maranon Capital, Grace Matthews Inc., Garrett Investments LLC and PKware executives.
Grace Matthews, a Milwaukee-based investment bank, also coordinated the formation of the investment group and negotiated the transaction with PKware shareholders.
"Miller’s experience in growing technology companies combined with his leadership style, management expertise and marketing savvy make him the ideal person to lead PKware," said Pierre McMaster, general partner of Novacap. "He is well-positioned to drive the new strategic initiatives needed to build upon the company’s success and accelerate PKware’s growth in the rapidly expanding enterprise security software market."
