Minntech CEO in Critical Condition After Plane Crash
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CEO in Critical Condition After Plane Crash Roy Malkin, CEO and President of Minntech Corporation, sustained severe injuries last month when his privately owned single-engine aircraft crashed off the runway during takeoff. Minntech Corporation, an industry leader in developing, manufacturing, and marketing medical materials, was acquired by Cantel Medical Corporation in 2001 for $70M. At the time, the Minntech acquisition more than doubled Cantel's annual revenue. WHAT IF? What if Minntech's CEO was disabled following their acquisition by Cantel? Would you have recommended Key Person Disability as an insurance solution to their acquisition? Unfortunately, tragic events often illuminate how critical the need to protect a corporation's human capital. |
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INSURANCE SOLUTION
If Malkin is permanently disabled and cannot return to work, how will Minntech fund replacing him? Are they responsible to repurchase his stock? How will they pay their next expert a recruiting bonus? In succession planning, we often see insurance practitioners using life insurance as a tool to mitigate the risks associated with the loss of a corporation’s key executives.
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