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GENERAL MANAGEMENT - HEALTH CARE SERVICES / DEVICES
Track record of profitable growth, strong organizational development and successful mergers & acquisitions. Specializing in turn-arounds, new ventures and distribution challenges, including international experience.
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PROFESSIONAL EXPERIENCE
ACCENTIA, Inc. 2001-Present
Tampa, Florida
(International Specialty Pharmaceutical Company Including Mail Order Pharmacy, Pharmacoeconomics & Pharmaceutical Product Launch, Pharmaceutical Sales – Previous Client of BioWave Innovations)
President & CEO
Responsibility for corporate leadership of holding company and subsidiaries including Accent Rx, The Analytica Group and TEAMM Pharmaceuticals.
• Grew Accentia revenues by 38%, improved earnings over 150% via internal growth and restructuring.
• Managed turn-around, restructuring, relocation of Accent Rx specialty mail order pharmacy business from annual operating loss of ($6M) to profitability within 12 months while growing revenue base, improving balance sheet. Reduced receivables from 280 days to 38, replaced 90% of staff.
• Completed acquisitions of The Analytica Group, a leading international pharmacoecomonics consultancy servicing most major pharmaceutical manufacturers, and TEAMM Pharmaceuticals, a specialty pharmaceutical sales operation, into ACCENTIA.
• Acquired the complete line of HISTEXTM antihistamine products from Andrx Corporation, including license, and developed national sales force to detail and distribute products.
• Developed business strategy and raised financing for acquisitions and turn-around.
• Completing sale of company with expected return on investment over 3X.
HEALTHANSWERS, Inc. 2000
Austin, Texas
(Venture-Backed Combination of e-Healthcare, Media, Disease Management and Medical Education Companies)
President & CEO – HealthAnswers, US. (Interim)
Responsibility for combined organization consisting of Orbis Broadcast Group, Carnes Communications, Hastings Healthcare, Physician’s Weekly, Medical Consumer Media, HealthAnswers.com and others.
• Managed the integration of 10 companies into a centralized corporate entity, realigning structure for founders, division presidents, and functional corporate officers, established operating structure, budgets, P&L’s and growth strategy.
• Positioned corporate entity for IPO prior to e-health market correction, then restructured strategy after, eliminating $21M in cost, achieving break-even position and initiating divestiture of companies.
• Integrated on-line and off-line health and disease management offerings, medical education, broadcast, publications, focusing on consumers, healthcare professionals, pharmaceutical companies, employers and managed care organizations.
BERGEN BRUNSWIG CORPORATION – PHARMERICA DIVISION 1997-2000
Tampa, Florida
($1.7B Healthcare Provider of Institutional/Mail-Service Pharmacy, Chronic/Catastrophic Care, DME/Supplies, PBM)
Chief Operating Officer - PHARMERICA DIVISION, (PMSI) (Sold To Bergen Brunswig in 1999)
Grew PMSI subsidiary revenues from $91M to $300M and exceeded budgeted profits by 20%. Participated in the sale of PharMerica to Bergen Brunswig with Donaldson, Lufkin & Jenrette. Worked with board of directors to develop strategy & re-structured with Medicare PPS changes.
Chief Operating Officer - PHARMERICA Inc, (PMSI) (Spun Off & Took Public in 1997)
Senior Vice President - Corporate Marketing & Sales
Improved EBITDA from 14% to 22%, via restructuring, product mix and business processes. Completed acquisitions with $120M in revenues, achieved 100% revenue growth in largest acquired business (TMESYS) closed in 1998. Participated in IPO/merger and integration of PCA and Capstone, to create PharMerica. Led public relations and participated in road shows, investor relations.
General Manager - PHARMACY CORPORATION OF AMERICA, (PMSI) (Subsidiary of Beverly Enterprises) Vice President - Corporate Marketing & Sales
Achieved 35% growth in catastrophic care, 15% in mail service pharmacy, 10% in institutional pharmacy marketing to insurance carriers, TPA’s, case management, long-term care. Expanded offerings to skilled nursing, sub-acute, assisted living, home and case management, including orthotics & prosthetics, orthopedics, DME, infusion, respiratory, transportation, reimbursement software.
GENERAL ELECTRIC MEDICAL SYSTEMS 1988-1996
Milwaukee, Wisconsin
(Global Manufacturer of MRI, CT, X-Ray, Ultrasound and Disposable Medical Imaging Products)
Director, Multi-Hospital Systems Operations - ($750M Sales)
Led division providing integrated offerings to multi-hospital systems, group purchasing organizations. Responsible for financial services, sales, service, consulting, providing productivity solutions at the corporate level. Introduced health care service, managed care offerings, managed fleet of 350 mobile imaging units.
Manager, Americas X-Ray Business (Global X-Ray Division) - ($400M Sales) 1993-1995
Led North/South America X-Ray division with 100+ products. Grew share by five points on $1.5B market, $80M in revenue growth, profitability from 38% to 43%. Grew $100M cardiology share from 8% to 27%.
Business Development/Product Manager - Surgical Products - ($145M Sales) 1991-1993
Dual role, focused on X-ray installed base offerings, product management for surgical products. Led GE corporate council to achieve ISO 9001 certification. Created $45M in incremental revenues.
Manager, Cardiac & Vascular Marketing – GE Medical Systems Asia - ($28M Sales) 1990-1991
(Tokyo, Japan) Two-year international assignment, started marketing/sales division to distribute GE cardiac imaging products to Asian market. Grew revenues by 60%. Increased share from 10% to 35%.
New York Region Cardiac Sales Specialist - ($13M Sales)
1988-1990
Achieved #1 sales volume in U.S., received GE Sigma Society Award. Managed New York region cardiac sales
for $1M cardiac cath lab imaging products. Increased share from 7% to 96% in 18 months.
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EARLY WORK HISTORY
1981-1988
FONAR CORPORATION
(Founder of MRI Imaging Technology)
Director of Marketing - Reported to president/founder of MRI Scanning in an entrepreneurial organization. Created a marketing organization and publishing subsidiary. Grew revenues by 40% in 1987.
DIGITAL IMAGING CORPORATION OF AMERICA
(Founder of Digital Cardiac Imaging Technology)
Engineering Program Manager/Product Manager - Reported to president of start-up company, developed first digital cardiac x-ray imaging system. Managed engineering/ manufacturing of proto-type to market.
PENNSYLVANIA STATE UNIVERSITY - Artificial Heart Lab – Cardiology Dept.
(Bio-medical Engineering Department-Artificial Heart and Electrocardiography)
Engineering Research Coordinator - Participated in the proto-type development and trial studies of the Pennsylvania State Artificial Heart and developed computerized ECG instrumentation for data acquisition.
CHESEBROUGH-PONDS, Inc. - Hospital Products Division
(Disposable Hospital Products Including: Nasogastric Feeding, Thoracic Chest Drainage, Respiratory Care)
Production Supervisor - Manufacturing management training program. Supervised the manufacturing of 80+ disposable hospital products, 100 employees. Set-up plastics molding operation. Conducted FDA trials.
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EDUCATION
HARVARD UNIVERSITY Disruptive Innovation Program, 2001
GE MANAGEMENT INSTITUTE - CROTONVILLE Executive Development Program, 1993
UNIVERSITY OF MARYLAND, Tokyo Campus International Business Management, 1990
PENNSYLVANIA STATE UNIVERSITY MS, Biomedical Engineering, 1984
STATE UNIVERSITY OF NEW YORK BS, Biochemistry/Biophysics, 1980
Experienced with Japanese Language
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BOARD ASSIGNMENTS
BioWave Innovations 1999-Present
Tampa, Florida
- Founder
(Healthcare Consultancy/Investment Firm Specializing in Corporate Turn-Arounds, Mergers & Acquisitions. Clients Included TechHealth, MDexchange, Solucient, Farallon Capital, Advent International, Thayer Captial and ACCENTIA, Inc.)
MDexchange 2001-Present
Middletown, Connecticut
- Director/Investor
(Privately held clinical indexing and information technology company)
TechHealth 2000-2002
Tampa, Florida
- Director/Investor
(Privately held ancillary services company focused on Workers’ Compensation & Managed Care)
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