Luminex CEO Patrick Balthrop to speak at Spring Hill College's commencement May 7, 2011
MOBILE, Ala. – Patrick J. Balthrop Sr., President and Chief Executive Officer of Luminex Corporation and a 1979 alumnus of Spring Hill College will speak at the College's commencement exercises Saturday, May 7.
Balthrop has a track record of achievements and a diverse background as an innovator, product developer and transformational business leader that spans a 30-year career in the healthcare industry. His experience ranges from managing relations with government agencies and regulators worldwide, to research and development, and implementation of unique corporate governance initiatives. Balthrop has directed the commercialization of revolutionary products that save healthcare costs while enhancing patient outcomes. Luminex Corporation, located in Austin, Texas, develops, manufactures and markets proprietary biological testing technologies with applications throughout the diagnostic and life sciences industries
Balthrop joined Luminex as president and CEO in May 2004. During his tenure at the company, he has overseen the development and execution of a dynamic growth strategy centered on strategic partnerships, aggressive internal innovation and product development and groundbreaking acquisitions and technologies. These changes have led to industry-leading results for which Luminex and Balthrop have been recognized through numerous awards.
Luminex has recently been honored by Forbes as one of the 25 fastest growing technology companies in America for two consecutive years, and by Fortune as one of the 100 fastest growing companies across all industries. In 2010 Luminex was also awarded the prestigious Prix Galien Award for Best Medical Technology, considered the industry equivalent to the Nobel Prize. In addition to the company's strong financial performance and innovative product development, Luminex's commitment to ethical excellence and good corporate governance has been awarded a Corporate Governance Quotient by Institutional Shareholder Services that is better than 90% of peer companies.
Prior to joining Luminex, Balthrop served as President of Fisher HealthCare, a Fisher Scientific International company. From 1981-2002, he held a number of leadership positions at Abbott Laboratories, including head of worldwide commercial diagnostics operations for Abbott's Diagnostics Division.
Balthrop holds a master of business administration from Northwestern University's Kellogg School of Management and a bachelor of science in biology from Spring Hill. In addition to his Luminex responsibilities, he has been active in his communities, including having served on the Board of Directors of Howard Brown Health Center in Chicago. He has been married to his wife Mariterese for 32 years. They have three adult children.
Spring Hill College's commencement will be held at 10 a.m. Saturday, May 7 under the historic Avenue of the Oaks on the college campus.