Michael Cudahy (electronics)
Encyclopedia
Michael John Cudahy is an entrepreneur
, business executive and philanthropist.
Born in Milwaukee, Wisconsin
in 1924, Cudahy is the son of John Cudahy
, United States ambassador to Ireland
, Poland
and Belgium
. His grandfather is Patrick Cudahy
, founder of the Patrick Cudahy meat company.
On Thursday, August 2, 2007, WTMJ-AM in Milwaukee reported that Michael Cudahy was one of several private investors considering purchasing Midwest Airlines
.
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 diagnostic equipment).
In 1998, he sold Marquette Electronics (by then known as Marquette Medical Systems) to GE. The company exists today as part of the Clinical Systems division of GE Healthcare
, 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 1999, according to U.S. Securities and Exchange Commission (SEC) filings, he invested $10 million in TomoTherapy a Madison, Wisconsin
bio-technology start-up. It went public on May 9, 2007 with the stock symbol TOMO. Mr Cudahy's 10% interest is valued at more than $100 million at present prices (September 2007).
In 2002 he told the story of the founding of Marquette Electronics in the book Joyworks (ISBN 0-938076-17-5).
Entrepreneur
An entrepreneur is an owner or manager of a business enterprise who makes money through risk and initiative.The term was originally a loanword from French and was first defined by the Irish-French economist Richard Cantillon. Entrepreneur in English is a term applied to a person who is willing to...
, business executive and philanthropist.
Born in Milwaukee, Wisconsin
Milwaukee, Wisconsin
Milwaukee is the largest city in the U.S. state of Wisconsin, the 28th most populous city in the United States and 39th most populous region in the United States. It is the county seat of Milwaukee County and is located on the southwestern shore of Lake Michigan. According to 2010 census data, the...
in 1924, Cudahy is the son of John Cudahy
John Cudahy
John Clarence Cudahy was a real estate broker and American ambassador to Poland, Ireland, Belgium and Luxembourg. He was a Democrat.-Early life:...
, United States ambassador to Ireland
Ireland
Ireland is an island to the northwest of continental Europe. It is the third-largest island in Europe and the twentieth-largest island on Earth...
, Poland
Poland
Poland , officially the Republic of Poland , is a country in Central Europe bordered by Germany to the west; the Czech Republic and Slovakia to the south; Ukraine, Belarus and Lithuania to the east; and the Baltic Sea and Kaliningrad Oblast, a Russian exclave, to the north...
and Belgium
Belgium
Belgium , officially the Kingdom of Belgium, is a federal state in Western Europe. It is a founding member of the European Union and hosts the EU's headquarters, and those of several other major international organisations such as NATO.Belgium is also a member of, or affiliated to, many...
. His grandfather is Patrick Cudahy
Patrick Cudahy
Patrick Cudahy, Jr. ; March 17, 1849 - July 25, 1919) was an American industrialist in the meat packing business and a patriarch of the Cudahy family.-Background:...
, founder of the Patrick Cudahy meat company.
On Thursday, August 2, 2007, WTMJ-AM in Milwaukee reported that Michael Cudahy was one of several private investors considering purchasing Midwest Airlines
Midwest Airlines
Midwest Airlines was a U.S.-based airline and was also an operating brand of Republic Airways Holdings based in Oak Creek, Wisconsin. operating from Milwaukee's General Mitchell International Airport...
.
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
Northwestern University
Northwestern University is a private research university in Evanston and Chicago, Illinois, USA. Northwestern has eleven undergraduate, graduate, and professional schools offering 124 undergraduate degrees and 145 graduate and professional degrees....
Medical School. This machine has since become standard in hospitals throughout the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
. 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
Gê
Gê are the people who spoke Ge languages of the northern South American Caribbean coast and Brazil. In Brazil the Gê were found in Rio de Janeiro, Minas Gerais, Bahia, Piaui, Mato Grosso, Goias, Tocantins, Maranhão, and as far south as Paraguay....
(then known as General Electric Medical Systems Division) and combined it with the existing business (primarily diagnostic equipment).
In 1998, he sold Marquette Electronics (by then known as Marquette Medical Systems) to GE. The company exists today as part of the Clinical Systems division of GE Healthcare
GE Healthcare
GE Healthcare is a division of GE Technology Infrastructure, which is itself a division of General Electric . It employs more than 46,000 people worldwide and is headquartered in Little Chalfont, Buckinghamshire, United Kingdom. GE Healthcare is the first GE business segment to be headquartered...
, 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 1999, according to U.S. Securities and Exchange Commission (SEC) filings, he invested $10 million in TomoTherapy a Madison, Wisconsin
Madison, Wisconsin
Madison is the capital of the U.S. state of Wisconsin and the county seat of Dane County. It is also home to the University of Wisconsin–Madison....
bio-technology start-up. It went public on May 9, 2007 with the stock symbol TOMO. Mr Cudahy's 10% interest is valued at more than $100 million at present prices (September 2007).
In 2002 he told the story of the founding of Marquette Electronics in the book Joyworks (ISBN 0-938076-17-5).
Philanthropy
The following institutions have been the recipients of gifts by Michael J. Cudahy:- Boys and Girls Club
- John C. Cudahy YMCAYMCAThe Young Men's Christian Association is a worldwide organization of more than 45 million members from 125 national federations affiliated through the World Alliance of YMCAs...
- 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.
- Discovery WorldDiscovery WorldDiscovery World is a museum located in Milwaukee, Wisconsin, at 500 N. Harbor Drive. When the museum moved to Milwaukee's lakefront in 2006, it changed its name to Discovery World at Pier Wisconsin. It formerly was located at 815 N. James Lovell Street....
- University of Wisconsin–Milwaukee
- Johns Hopkins UniversityJohns Hopkins UniversityThe Johns Hopkins University, commonly referred to as Johns Hopkins, JHU, or simply Hopkins, is a private research university based in Baltimore, Maryland, United States...
– sponsors the Michael Cudahy professorship - Marquette UniversityMarquette UniversityMarquette University is a private, coeducational, Jesuit, Roman Catholic university located in Milwaukee, Wisconsin. Founded by the Society of Jesus in 1881, the school is one of 28 member institutions of the Association of Jesuit Colleges and Universities...
- Milwaukee Art MuseumMilwaukee Art MuseumThe Milwaukee Art Museum is located on Lake Michigan in Milwaukee, Wisconsin.Beginning around 1872, multiple organizations were founded in order to bring an art gallery to Milwaukee, as the city was still a growing port town with little or no facilities to hold major art exhibitions...
- Milwaukee BalletMilwaukee BalletThe Milwaukee Ballet is a professional ballet company located in Milwaukee, Wisconsin, United States. It was founded in 1969 by Roberta Boorse and held its first performance on April 24, 1970. It is currently ranked among the top twelve ballet companies in the United States...
- Milwaukee Public MuseumMilwaukee Public MuseumThe Milwaukee Public Museum is a natural and human history museum located in downtown Milwaukee, Wisconsin, USA. The museum was chartered in 1882 and opened to the public in 1884; it is a not-for-profit organization operated by the Milwaukee Public Museum, Inc. MPM has three floors of exhibits...
- Milwaukee School of EngineeringMilwaukee School of EngineeringThe Milwaukee School of Engineering is a private university located in downtown Milwaukee, Wisconsin. MSOE is best known for its applications-oriented curriculum, close association with business and industry, and extremely high placement rate...
- Milwaukee Symphony OrchestraMilwaukee Symphony OrchestraThe Milwaukee Symphony Orchestra is an orchestra based in Milwaukee, Wisconsin. Its primary performing venue is the Marcus Center for the Performing Arts...
- Pabst TheaterPabst TheaterThe Pabst Theater is an indoor concert venue and landmark of Milwaukee, Wisconsin, U.S. Colloquially known as "the Pabst", the theater hosts about 100 events per year...
– 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 TheaterRiverside Theater (Milwaukee)Riverside Theater is a concert hall, in Milwaukee, Wisconsin. The venue, which has seats for 2,460 people and hosts many different musical artists and shows...
– 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
- American Heart AssociationAmerican Heart AssociationThe American Heart Association is a non-profit organization in the United States that fosters appropriate cardiac care in an effort to reduce disability and deaths caused by cardiovascular disease and stroke. It is headquartered in Dallas, Texas...
– Supporter of the Milwaukee Heart Ball