- Co-Founder and Managing Director,
- Investment Banking Experience: Since 1996
- Healthcare Investment Banking Experience: Since 1996
- College Degree and College Attended: BA, Business Economics with Honors University of California at Santa Barbara
- Transactions: 40+
- Total Deal Value: $3B+
- Hometown: Westport, CT
I’ve been focused on healthcare for my entire professional career dating back to 1994. I began as an accountant with KPMG’s Health Care and Life Sciences group, auditing the books of various healthcare companies. Public Accounting was a great place to start my career but after passing the CPA exam and practicing for a few years, I concluded that I really enjoyed healthcare and that I wanted to be closer to the capital markets.
Jeff holds series 7, 23, 24, and 79 securities licenses.
I’ve been focused on healthcare for my entire professional career dating back to 1994. I began as an accountant with KPMG’s Health Care and Life Sciences group, auditing the books of various healthcare companies. Public Accounting was a great place to start my career but after passing the CPA exam and practicing for a few years, I concluded that I really enjoyed healthcare and that I wanted to be closer to the capital markets. I joined the Mergers and Acquisitions group at Volpe Welty & Company (soon to become Volpe Brown Whelan) as an investment banking analyst, where I worked on M&A transactions across a variety of healthcare sectors. At Volpe, I had the opportunity to be a part of some truly inspiring “home run” transactions – transactions that effected either very positive change in the provision of healthcare or took clients to another level on their growth trajectory. I also witnessed some spectacular disasters, primarily in the physician practice management sector in the mid-90s. I worked on transactions with FPA Medical and MedPartners, both just prior to their implosions, which is an experience that colors my perspective in advising physician practices and businesses to this day.
I joined McKesson from Volpe to experience working at a Fortune 50 company and one of the largest operating companies in healthcare. As the Senior Director of Corporate Development (the number two person in the corporation for M&A) I worked on acquisitions, divestitures, strategic partnerships and venture capital investments. We divested a division for over a billion dollars in cash and I was one-half of McKesson’s two person venture group that returned over three times invested capital. Despite those successes and the “glory” of working on sizeable transactions, I found the environment at a large corporation to be less-than-energizing. After several years (and working with three different CEOs), I left McKesson to pursue working with entrepreneurial, emerging growth healthcare companies.
We founded Edgemont Capital Partners in late 2001 with the goal of providing middle market healthcare companies with superior M&A advice and flawless transaction execution. Advising physicians, physician practices, entrepreneurs, and owners on M&A transactions, strategic options, financings, and maximizing the value for the businesses they have created and built is what excites and drives me. I enjoy winning the trust of our clients and delivering superior results for those clients on what is often the most important event in their professional lives. I have worked on billion dollar transactions and transactions a fraction of that size and, for me, the level of professional satisfaction has very to do with the size of the deal and everything to do with the outcome for our client.
Throughout my career I have advised dozens of founders and thousands of clinicians on over 50 healthcare transactions, representing several billion dollars in total value and spanning a wide range of transaction types. These include mergers and acquisitions (both domestic and cross-border), divestitures, fairness opinions, strategic alliances, public equity issuances, private equity principal investments, bankruptcy reorganizations, management buy-outs and recapitalizations. My healthcare experience covers a broad range of industry sectors, including physician practices and practice management companies, health care services, specialty pharmaceuticals, pharmaceutical outsourcing, healthcare information technology, distribution, assisted living, and medical devices. My recent physician client advisory experience includes the emergency medicine, anesthesia, pain management, radiology, hospitalist, primary care, oncology, urology, dermatology, and fertility specialties.
My passion for working with entrepreneurs in healthcare is no doubt fueled by my family background. My mother was a college biology professor and my father founded and ran a software company. My mom’s talent for science eluded me as high school biology was, embarrassingly, the lowest grade I received in high school. My father had the opportunity to sell his company to Microsoft for stock in 1989 and passed on the deal. He had no one to advise him and my memories of that (and fantasies of what could have been with 1989-era MSFT stock - only a 129 times return to 2015) drive my interest in advising healthcare entrepreneurs today.
Professional Accomplishment of Which
I am Most Proud
I am far and away most proud of the reputation that Edgemont has built as a firm of substance, integrity and results. Edgemont has a long reference list of former clients that will go out of their way to speak to prospective clients about the good work Edgemont did for them – the deep commitment of the team, the expertise, and the outcome. In the M&A advisory business, every transaction is difficult, has unique challenges to overcome, and has inflection point moments (read: moments of terror). Nonetheless, all of that is well-rewarded when I speak to clients from many years previous and they are still thrilled with the results Edgemont delivered for them and are eager to tell a fellow physician or entrepreneur about us.
I was born and raised in the Bay Area and graduated from the University of California at Santa Barbara with Honors, majoring in Business Economics. Until moving to the Northeast, I was blessed by many years of California weather and outdoor recreation.
My wife and I have three young boys and a dog – my other life is trying to keep control of the chaos at home. That means keeping the volume to a dull roar and the destruction to a minimum. My wife is a practicing veterinarian in Connecticut. She is also earning a lifetime achievement award in patience.
Passions (outside of work)
The mountains, the bigger the better. Whether I am climbing up, snowboarding down or mountain biking through, I never get tired of being in the mountains.
I have to admit, however, that some of the recent winters in the Northeast have made me consider a warm beach vacation as an alternative to the mountains during the winter months.
To climb an 8,000 meter peak. To win the World Series of Poker. To be a better Crossfitter and actually be able to do a muscle up. To learn to play a mean blues harmonica.