Name Michael Malatin | ||
Michael D. Malatin is an American entrepreneur. He founded a company specializing in hospital-based valet parking and front door services.
Malatin is the founder and former CEO of Healthcare Parking Systems of America, Inc. He started by servicing a single hospital in St. Petersburg, Florida. He expanded to become one of the largest independently owned parking companies in America, with over $26M in revenues, and servicing over 280 hospitals in 33 states with over 5,000 employees. In 2011 Malatin sold Healthcare Parking Systems of America, Inc. to Ampco System Parking, a division of ABM Industries (NYSE: ABM). Financial terms of transaction included an initial cash payment of $7.1 million. Additional cash consideration of approximately $4.7 million is expected to be paid based on financial performance of the acquired business over the following three years.
Early life and education
Malatin was born in Cleveland, Ohio on July 24, 1970. He was raised in Cincinnati, Ohio where he graduated from Moeller High School in 1988. He went on to attend the University of Cincinnati, where he was a member of Pi Kappa Alpha, and earned a bachelor's degree in Political Science in 1993. Malatin is a classically trained pianist and speaks fluent French.