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Professional Experience
I’ve been an investment banker for my entire 18-year professional career.
For the past 12 years I have focused exclusively on healthcare. I started as a
lowly financial analyst at Salomon Brothers in the 1980’s and have held
every title along the way to Managing Director at Bear Stearns, eventually running
several industry coverage teams for Lehman Brothers, now to heading a firm. I
left Lehman in 2001 to co-found Edgemont Capital Partners. In my career, I have
experienced what seems like a lifetime's worth of transactions with at least one
captivating tale to go with each. When I add up the numbers, I have completed
over 60 transactions representing more than $25 billion in total value, including
mergers and acquisitions, fairness opinions, partnerships, joint ventures, public
and private equity and debt issuance and general strategy and financial advisory
services.
I wanted to be a doctor growing up and I've had a passion for medicine for a long
as I can remember. Finance won me over, but I find my current role working with
healthcare companies to be the best of all worlds. My healthcare experience covers
a broad range of industry sectors, including pharmaceuticals (large capitalization
and specialty) pharmaceutical outsourcing (contract research organizations "CROs"
and pharmaceutical sales and marketing) healthcare information technology, distribution,
medical devices, diagnostic equipment, managed care, home healthcare, institutional
pharmacy and pharmaceutical benefit management. Prior to founding Edgemont, I
ran the Specialty Pharmaceuticals, Pharmaceutical Outsourcing and Health Information
Technology Coverage Teams in The Lehman Brothers Healthcare Group.
Over the years, my clients have ranged in size from start-ups to Fortune 50 companies.
In representing these companies, I've completed some large transactions, including
representing the seller in the then-largest CRO sell-side transaction and the
buyer in one of the largest non-pharmaceutical healthcare transactions of all
time. Yet despite these successes, I have always enjoyed most working with smaller
and entrepreneurial companies. Advising venture companies at Patricof & Co.
(now Apax Partners) in the early 1990's provided me with strong insight into earlier
stage companies and I have found over the years that my most rewarding professional
experiences have resulted from working with emerging, high growth and dynamic
companies. I am also a board member of the Rutgers University Venture Action Committee
(RVAC).
My passion for working with entrepreneurs is fueled by my own entrepreneurial
spirit, evidenced well before co-founding Edgemont. At Haverford College, I founded
and managed Skeeter's Pizza, a student-operated pizza restaurant and delivery
service. Skeeter's, which became a school institution, made and delivered piping
hot pizzas to starving college students on limited budgets. In addition to improving
Haverford's culinary alternatives, Skeeter's also employed 45 students part-time
each semester and helped finance my living expenses. I sold the business to the
Haverford College Students Association upon graduation (my first deal!).
Favorite Professional Accomplishment
Building Edgemont and the thrills I've had and that I continue to experience playing
some role in helping entrepreneurs and entrepreneurial businesses achieve critical
objectives. I love living the transactions alongside them (highs, low and all).
For me, nothing beats the sense of accomplishment and the personal gratitude that
results from helping clients to realize their dreams, or just get an important
deal completed.
Personal
Some might say I'm a bit parochial. I was born in New York City and I have lived
my entire life in the City and NYC metropolitan area (except for my fours years
at college outside Philadelphia). I didn't always appreciate New York, but now
that I've had the opportunity to travel throughout the U.S. and some in Europe,
I wouldn't want to live anywhere else. I graduated from Haverford College, with
a B.A. in philosophy. As Steve Martin said about majoring in the discipline, "I
learned just enough to screw me up for the rest of my life."
Other Life
I have two daughters who mean the world to me. They help keep it all in perspective.
Work, my girls and my passions (see below)…is there time for more? "I'll
sleep when I'm dead" - Warren Zevon.
Passions
Cycling. I have ridden recreationally since my teens, but started racing in 2001.
Wow! That's hard, but what a rush. I'm a USCF licensed Category 4 racer and belong
to the Century Road Club Association (www.crca.net) in New York. In 2006, Edgemont
Capital Partners is sponsoring
its own team as a sub-team of CRCA. I also enjoy modern fiction… got
to make the most of airplane time.
Secret Ambitions
Professional cyclist. The Tour De France, or perhaps the Giro D'Italia, Vuelta
a' Espana or the Spring Classics instead. I rode the L’Etape
du Tour in 2005 and got a taste of it! For now, I'm just going to try to win
my first race!
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