Michael Cudahy (electronics)
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Michael J. Cudahy (1924-) is an entrepreneur, business executive and philanthropist.
Born in Milwaukee, Wisconsin in 1924, Cudahy is the son of John Cudahy, ambassador to Ireland, Poland and Belgium. His grandfather is Patrick Cudahy, founder of the Patrick Cudahy meat company.
[edit] Marquette Electronics
Along with Warren Cozzens, he 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.
His company put together the nation's first central electrocardiographic system at Northwestern University Medical School. This machine has since become standard in hospitals throughout the United States. The company was also noted for having one of the first on-site day care centers in the nation.
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 disgnostic equipment).
In 1998, he sold Marquette Electronics (by then known as Marquette Medical Systems) to GE. The company exists today as GE Healthcare Medical Systems, 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 2002 he told the story of the founding of Marquette Electronics in the book Joyworks (ISBN 0-938076-17-5).
[edit] Philanthropy
The following institutions have been the recipients of gifts by Michael J. Cudahy:
- John C. Cudahy YMCA
- Michael J. Cudahy Foundation -- Foundation through which Cudahy does most of his philanthropy. Not to be confused with the Patrick & Anna M. Cudahy foundation, set up by his uncle, Michael F. Cudahy.
- Johns Hopkins University -- sponsors the Michael Cudahy professorship
- Pabst Theater -- Cudahy bought the beleaguered landmark theatre in downtown Milwaukee, Wisconsin for $1, keeping it open and afloat. He had previously donated over $9 million to the theatre.
- Riverside Theater -- Cudahy signed a lease to run entertainment programs in the historic Riverside Theater in downtown Milwaukee, Wisconsin.
- Pier Wisconsin - Cudahy is spearheading this ambitious project for Milwaukee's lakefront, which some argue would steal the limelight from the nearby Milwaukee Art Museum (also a recipient of Cudahy's funds).
- United Community Center
