Parker H. Petit
Mr. Petit received his bachelor’s degree in Mechanical Engineering and Master of Science degree in Engineering Mechanics from Georgia Tech. He received his MBA degree in Finance from Georgia State University in 1973.
In 1970, Mr. Petit founded Healthdyne, an internationally based healthcare company that manufactured high technology healthcare devices, provided healthcare information systems and technology, and provided healthcare services and disease management.
The Healthdyne related companies grew to annual revenues in excess of $1 billion. In order to increase shareholder values, Healthdyne was split into several publicly traded companies through public offerings and spinouts to shareholders in 1995. At that point, Mr. Petit relinquished the CEO role and remained Chairman of the Board of all the companies. Subsequently, the home infusion therapy subsidiary was sold to W. R. Grace Corporation. In 1995, Healthdyne Maternity Management was merged with Tokos Medical to form Matria Healthcare. In 1997, Healthdyne Technologies was merged with Respironics. In May 2001, Healthcare.com, which was formerly Healthdyne Information Enterprises, merged with XCare.net Corporation to form Quovadx.
Mr. Petit resumed the duties of President and CEO of Matria Healthcare in October of 2000. Matria Healthcare was acquired by Inverness Medical Innovations in May 2008. Mr. Petit now serves as President of The Petit Group, an Investment Management Organization, and is the Chairman and CEO of MiMedx Group, an orthopedics implant company.
Mr. Petit served on the Board of Directors of Atlantic Southeast Airlines for 16 years until it was acquired by Delta Airlines, and Norrell Corporation, which was acquired by Spherion Corporation. He currently serves on the Board of Directors of Intelligent Systems Corporation.
Mr. Petit has been a member of the Board of Directors of the Georgia Research Alliance, which is chartered by the state of Georgia to promote high technology and scientific development in the state, and he is a 1994 inductee into the Technology Hall of Fame of Georgia. He serves on the Board of Trustees of the National Health Museum.
Mr. Petit funded a professorial chair for “Engineering in Medicine” at Georgia Tech in 1986. In 1995, he endowed the Petit Institute for Bioengineering and Biosciences at Georgia Tech. In 2001, he helped fund the biotechnology building at Georgia Tech which has his name, and in 2004 the Science Center building at Georgia State University which also has his name. In 2007, he was inducted into the Georgia State Business School Hall of Fame.