Honoree Year: 2016
Georgia State University
J. Mack Robinson College of Business
Area of Impact:
Healthcare or Wellness
Tragedy changed the trajectory of Pete Petit’s career from aerospace engineering to healthcare. After losing a son to sudden infant death syndrome (SIDS), Petit developed the first home physiological monitor for at-risk infants. The company he formed ushered in the era of high-technology home healthcare in the United States. In the decades since, Petit has earned a reputation for developing healthcare companies from their emerging stages and leading them to maturity and significant stature in their respective markets. Petit’s commitment to philanthropy and community is reflected in gifts to his alma maters, Georgia State University (MBA) and the Georgia Institute of Technology (BS, MS), and in service on the boards of the Georgia Research Alliance and the National Health Museum.
In 1970, Petit founded Healthdyne, an international healthcare company that manufactured high-technology healthcare devices and provided healthcare information systems and technology, healthcare services, and disease management, which grew to annual revenues in excess of 1 billion USD. In 1995, Healthdyne Maternity Management was merged with Tokos Medical to form Matria Healthcare. Through Petit’s vision and leadership, Matria Healthcare transitioned into the industry’s only fully integrated health, productivity, and disease management care continuum.
Since Petit joined MiMedx as chairman and CEO in 2009, the company has grown from a development stage orthopedics biomaterials company to become the leading regenerative medicine company using human tissue and patent-protected processes to develop and market advanced products and therapies for the wound care, surgical, orthopedic, spine, sports medicine, ophthalmic, and dental sectors of healthcare.
Petit’s philanthropic initiatives have included helping fund the Parker H. Petit Science Center at Georgia State University and endowing the Petit Institute for Bioengineering and Biosciences as well as a professorial chair for engineering in medicine at the Georgia Institute of Technology.