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Health Sciences South Carolina Welcomes New Chief Economic Development Officer, Michael S. Randall

Submitted by: Melanie Lux on Oct 23, 2008 at 8:30 pm Tagged with: Chief Economic Development Officer, Health Sciences South Carolina, Michael Randall Source: Lux Strategic Communications

COLUMBIA, S.C., October 23, 2008 - - Wall Street may be riding a rollercoaster, but Health Sciences South Carolina (HSSC) is feeling bullish about the State of South Carolina’s future. So much so that the statewide health sciences research collaborative has hired its first chief economic development officer.

Michael S. Randall, PhD, MBA, a veteran technology developer and strategist, has been named HSSC’s first chief economic development officer. On board since October 16, he is responsible for promoting and facilitating health sciences related economic development, identifying business and employment opportunities, and investigating and attracting funding sources for HSSC-supported research initiatives.

According to HSSC President and CEO Jay Moskowitz, Randall’s hiring fills a critical section of the organization’s infrastructure and represents a major step forward for HSSC and the General
Assembly’s efforts to create a prosperous future for all South Carolinians. “The Centers of Economic Excellence (CoEE) program and the many exciting research efforts it has generated have planted the seeds for economic prosperity in our state. However, when you couple research with a focused economic development effort, great ideas have a far better chance of growing into great products and services, which in turn leads to the creation of companies and jobs,” Moskowitz said.

“Having an individual of Mike’s caliber and experience dedicated solely to health sciences-related economic development initiatives will help fast-track the success of the CoEE program and the work being done by the many talented researchers across HSSC member organizations. It’s a proactive move that is particularly good news in these challenging economic times. There is no better time than now to market our intellectual capital,” Moskowitz added.

Dr. Randall is uniquely suited for his new role. He has more than 18 years of experience, including 16 years in strategic planning, market identification, new product development, and technical management for companies that include KEMET Electronics, Ferro Corporation and AVX Corporation. He has been an inventor on more than eight patents, and has experience in taking new product concepts from ideation to commercial scale. He has contributed to new product activities resulting in product lines with more than $450 million in market potential. Dr. Randall earned his PhD and Master of Science degrees in Materials Science and Engineering from the University of Florida and his Master of Business Administration degree from Webster University.

Currently, there are 11 HSSC-supported CoEEs, the newest of which are the Medications Safety and Efficacy CoEE and Cancer Stem Cell Biology and Therapy CoEE. The Centers are the nucleus for job creation, both in the direct hiring of endowed chairs, researchers and support staff, and indirectly as they attract businesses that want to leverage the intellectual property the CoEEs generate. Dr. Randall will work with all of the HSSC-supported CoEEs in translating their research to commercial applications.

HSSC Board Chair Ingo Angermeier, president and CEO of Spartanburg Regional Healthcare System, said Dr. Randall’s hiring sends a clear message that HSSC is serious about being a catalyst for change in South Carolina. “Opportunities don’t just happen—you make your opportunities. Four years ago, we made a commitment to improve our state’s economic wellbeing and its health status. And that’s exactly what we’re doing.”

About Health Sciences South Carolina

Established in April 2004, Health Sciences South Carolina (HSSC) is a statewide public-private collaborative of universities and health systems possessing the shared vision of using health sciences research to improve the health and economic wellbeing of South Carolina. HSSC includes Clemson University, the Medical University of South Carolina, the University of South Carolina, Greenville Hospital System University Medical Center, Palmetto Health, and Spartanburg Regional Healthcare System. For more information, visit www.healthsciencessc.org.