NYC Chapter: September Healthcare Summit
New York, New York, 10036
This event starts on September 10th at 1:30 PM.
- Private Equity Panel: Private Equity in Healthcare - Trends, Accelerated Growth, and Lessons Learned
- Investment Banking Panel: Is There Still Value in Lower Middle Market Healthcare?
- Executive Panel: Innovation in Healthcare and How It Affects M&A Opportunities
1:30 PM – 2:00 PM: Registration
2:00 PM – 3:00 PM: PE Panel
3:00 PM – 4:00 PM: IB Panel
4:00 PM – 5:00 PM: Executive Panel
5:00 PM – 7:00 PM: Cocktail Reception
PE Panel: Private Equity in Healthcare - Trends, Accelerated Growth, and Lessons Learned
In 2018, global private-equity backed healthcare deals rose almost 50% to $63.1 billion. 2019 deal volume shows there is no slowdown in sight. Healthcare has historically shown strong growth and superior historical returns but are there still good opportunities in the market? Is the growth in private-equity backed deals sustainable? Provider deals (physician groups, behavioral health, retail centers and home care) have been the leader domestically but we’ve also seen deal growth in non-traditional providers like clinical trial sites and contract research organizations as well as healthcare support services like revenue cycle and supply chain management. Our panelists will discuss healthcare deals they’ve done and share the healthcare sectors in which they see the most opportunity. We will also discuss reasons behind their healthcare sector focus and lessons learned from recent deal activity.
Taryn Stone, Partner at Ice Miller
Scott Kauffman, Partner at Northlane Capital Partners
Nicholas F. Ganias, CFA, Principal at Brookside Mezzanine Partners
Reid Petersen, Vice President at Avego Healthcare Capital
IB Panel: Is There Still Value in Lower Middle Market Healthcare?
Healthcare has been one of the hottest sectors for investment over the last several years, with deep-pocketed private equity firms and strategic buyers bidding aggressively against one another and driving valuations into the stratosphere. In 2009, private equity firms completed ~200 healthcare deals, and by 2016 this had tripled to more than 600 deals. With all this money chasing high quality assets, is it too late to get into the sector or are there still buying opportunities that can lead to compelling investment returns? Our panel of healthcare sector focused investment bankers will share why healthcare continues to be an attractive sector for investment and what they are seeing in today’s marketplace related to areas where there may still be some value-based buying opportunities vs. those subsectors that may be overheated. We will explore the current regulatory environment, the shift toward value-based care, technology’s impact on the sector, buyer behavior, valuations, buy-and-build strategies and the potential for corporate carve-outs, among other topics.
Ken Heuer, Principal at Kidd & Company
Lance Carr, Senior Vice President at Houlihan Lokey
Richard Blann, Managing Director at Cantor Fitzgerald
Kenneth Benton, Vice President at Ziegler
David Blume, Managing Director at Edgemont Partners
Executive Panel: Innovation in Healthcare and How It Affects M&A Opportunities
Demographic and economic changes have fueled the expansion of healthcare as a proportion of U.S. GDP for decades, and U.S. personal healthcare spending is expected to rise at an average of 5.5% annually through 2026, increasing from 17.6% of GDP in 2017 to 19.7% by 2026, according to Centers for Medicare & Medicaid Services (CMS) estimates.Two major drivers of this trend are (i) demographic changes driving demand for services, as the much-expected impact of aging baby-boomers becomes apparent, and (ii) the proliferation of innovation disrupting the healthcare sector to meet demand from healthcare consumers and address resource scarcity issues.
The panel will discuss recent innovations in healthcare across a range of subsectors, how this causes disruption, and ultimately affects M&A opportunities. Topics which will be discussed include innovations impacting healthcare services, pharmaceuticals, and medical devices including digitalization, big data, artificial intelligence, telemedicine, immunotherapy, amongst others.
Mark Billings, Managing Director at CFGI
Dr. Chitra Dorai, Founder & CEO at Amicus Brain Innovations Inc.
Harris Hafeez, Managing Director & Member at Advanced PMR
Wendy DiCicco, Board Member at EyePoint Pharmaceuticals & Carmell Therapeutics
Marc Duey, Founder/President/CEO at ProMetrics
Opus Connect Members: No Charge
- Non- Members (On or before September 5th): $395
- Non-Members (On or after September 6th): $495
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Ken is a Principal at Kidd & Company, a family office private investment group, where his responsibilities include deal sourcing/origination, due diligence, transaction execution and financial oversight and governance of portfolio investments. He currently serves on the Board of Directors of NextPhase Medical Devices and Family RV Group. Previously, Ken was a Managing Director at Spencer Trask, an early-stage venture capital firm, where he identified investment opportunities and structured financing transactions for companies in the life sciences, healthcare, information technology, software, and communications sectors. Prior to Spencer Trask, Ken was an investment banker at JPMorgan where he was responsible for execution of capital-raising and M&A transactions. Ken received a B.S. in Civil Engineering from Lehigh University and an M.B.A. from New York University’s Stern School of Business.
Mark Billings is a Managing Director and leads CFGI’s Transaction Advisory Services healthcare practice.
He has focused on providing buy-side and sell-side financial due diligence services in the healthcare services, technology & pharmaceutical sectors for the last 12 years and has extensive healthcare deals experience on transactions ranging from $1 million to $100 billion. Having worked on nearly 300 due diligence transactions for PE sponsors, corporations and healthcare systems he has deep experience in a wide range of sub-sectors of the healthcare industry. For the last 5 years he has brought his experience specifically to the lower middle and middle market. He has helped his clients navigate through critical due diligence issues involving platform acquisitions and roll-up strategies within specialty physician, behavioral health, skilled nursing facility (SNF), revenue cycle management and dental sub-sectors, and; performed sell-side analysis and support of telemedicine and healthcare data analytics companies, amongst others.
Outside of his professional life, Mark is an avid family man and helps lead several non-profit organizations. He is on the executive team of the Association of Chartered Accountants in the USA (ACAUS), a 9,000 strong network of US-based international accountants and helps lead World Eye Cancer Hope (WE C Hope) an international charity focused on supporting patients, survivors and families impacted by retinoblastoma, a children’s eye cancer.
Previously, Mark worked for 14 years in the audit and healthcare transactions services practices of PwC, an international “big-4” consultancy firm. He graduated in Economics / Economic History from the University of Leicester, U.K. and studied business at K.U. Leuven, Belgium. He is a Chartered Accountant with the Institute of Chartered Accountants of Scotland.
Taryn Stone is a partner and chair of the Firm's Health Care Group, concentrating her practice on various aspects of health law. Taryn represents various providers and suppliers of health care services including hospitals, physicians, and medical device manufacturers on transactional and regulatory issues.
Her practice includes counseling clients on matters involving Medicare conditions of participation, Medicare and Medicaid billing and reimbursement issues, the Stark and Anti-Kickback laws and similar state laws, the False Claims Act, HIPAA and other state privacy and security laws, and state licensure laws and regulations. She is also a member of the Firm's Internet of Things (IoT) Group.
Taryn has represented many health care providers on a wide variety of matters including structuring complex health care arrangements under the Stark and Anti-Kickback laws, the formation, operation and sale of physician group practices, negotiating contracts, mergers and acquisitions, employment matters and other business arrangements between providers, manufacturers and other entities.
Previously, Taryn served as in-house counsel for a large, publicly traded home health and hospice company. Taryn also worked as a health care consultant for a national consulting firm helping clients develop and implement co-management arrangements.
Taryn graduated from Washington University in St. Louis in 2002 with a Bachelor of Arts. While at Wash U, she was captain of the Washington University Women's Swimming & Diving team. She received her juris doctorate, magna cum laude, from Indiana University School of Law-Indianapolis in 2005. While in law school, she was an articles editor for the Indiana Law Review, a volunteer in the school's pro bono program, a member of the Health Law Society, and a member of the Dean's Tutorial Society.
Taryn is admitted to practice law in the states of Indiana and North Carolina.
Mr. Blume is a co-founder and Managing Director of Edgemont Partners and has over 30 years of investment banking experience, including more than 25 years representing healthcare companies in M&A and capital raising transactions. He has completed over 150 transactions, representing more than $60 billion in value. He has provided strategic advice and raised capital for pharmaceutical research and development services companies such as CROs, clinical sites and networks, and other pharma services companies. David has closed over 25 M&A transactions for clinical research site companies. He graduated from Haverford College with a Bachelor of Arts in Philosophy in 1988.
Dr. Chitra Dorai is a globally renowned Artificial Intelligence (AI) Scientist and is the Founder & CEO of Amicus Brain Innovations. Amicus Brain develops innovative AI-enabled digital services for the world’s older population and their caregivers/care partners, to help make optimal decisions and enhance their well-being and quality of life in the golden years. Following two decades of a highly decorated career at IBM, where she was the Global CTO for Cognitive Services, Chitra is frequently interviewed or cited in press, news and blogs, and YouTube video on a wide variety of topics from AI, Machine Learning, Blockchain, Big Data and Analytics.
Chitra has received numerous awards and recognition both externally and whilst at IBM for her groundbreaking research and client-facing work over the last twenty-five years. She is the co-inventor of 48 patents and has received multiple high-value patent awards, having been recognized as a “Master Inventor” thrice at IBM. She has co-authored 100+ technical papers for conferences and journals, edited a book and received 5 best paper awards at international conferences. She was a recipient of IBM’s highest honors including the Gerstner Award for Client Excellence and was appointed by the IBM CEO as an IBM Fellow, the company's pre-eminent technical honor.
Chitra graduated from IIT Madras with an undergraduate degree in Electrical Engineering and received her Ph.D. in Computer Science at Michigan State University with the Distinguished Academic Achievement award.
Harris Hafeez joined Advanced Physical Medicine & Rehabilitation in July 2015 and is a managing member of the practice. He has extensive experience in business management and marketing. Mr. Hafeez oversees the operations of Advanced PMR and ensures that all patient expectations are met. Having studied business marketing at St. Peter’s University in Jersey City, NJ he later worked in management positions for Fortune 500 companies focusing on growth, senior management and marketing. He has set the bar high at Advanced Physical Medicine & Rehabilitation with offices throughout New Jersey ensuring that all patients receive the best in healthcare. Mr. Hafeez is a Microsoft Certified Systems Engineer and has consulted with many large companies in the tri-state area incorporating his technology and management skills to ensure that all operations are running efficiently. He has also overseen the expansion and growth of companies he founded. In 2018 he oversaw the strategic alliance of Advanced PMR with private equity. Post-acquisition, in the ensuing year he spearheaded the expansion of Advanced PMR to offer multiple services including pain management and orthopedics. Mr. Hafeez, alongside business partner Daniel Reizis, directed Advanced PMRs expansion by adding key locations throughout New Jersey encompassing state-of-the-art facilities. Since 2015, Advanced PMR has increased its workforce ten-fold under the leadership of Mr. Hafeez and Daniel Reizis. YoY during 2018 to 2019 Advanced PMR under Mr. Hafeez’s leadership realized a 40% increase in revenue and doubled profitably. With its strategic alliance with its PE group Mr. Hafeez plans on having Advanced PMR continuously expand services offered to patients along with geo-targeting sites in the Northeast for new sites. In his time off he enjoys spending time with his family.
Ken Benton joined the corporate finance team at Ziegler in 2017. He specializes in mergers and acquisitions, strategic advisory and capital formation engagements for Ziegler’s middle-market healthcare client base. Ken focuses on providers at all stages of the continuum of care as well as information technology and managed care entities. Prior to Ziegler, Ken was a vice president at Hammond Hanlon Camp LLC (H2C), an independent, healthcare-focused strategic advisory and investment banking firm. Prior to H2C, Ken worked in the healthcare groups of boutique firms Scott-Macon Ltd. and Navigant Capital Advisors. In these roles, Ken advised on M&A, equity and debt capital raises and restructurings to middle-market healthcare clients with a particular focus on serving healthcare providers and payors, both for-profit and not-for-profit. Ken earned a joint J.D./M.B.A. degree in finance from Emory University. He earned a B.A. degree from Williams College, where he majored in political economy. Ken holds Series 7, 63 and 79 securities licenses.
Mr. Carr is a Senior Vice President in Houlihan Lokey’s Financial Advisory Services business. While at Houlihan Lokey, he has provided valuation opinions for businesses, equity interests, and intangible assets in many scenarios, including acquisitions, financing, strategic planning, corporate restructuring, and dispute resolution, as well as for financial reporting and tax purposes, including purchase price allocations, asset impairments, and tax reorganizations. Mr. Carr has focused on providing opinions within the consumer goods, industrials, financials services, and healthcare industries. He is based in the firm’s New York office.
Before joining Houlihan Lokey, Mr. Carr was a Senior Associate with the Business Valuation group at Deloitte Financial Advisory Services, where he focused on preparing valuation analyses for tax and financial reporting purposes.
Mr. Carr holds a B.A. in Economics from the University of Pennsylvania. He holds the designation of Chartered Financial Analyst.
Marc Duey, Founder, President and CEO of ProMetrics, enjoys serving the decision support needs of specialty biopharma executives with a focus on patient-level data impacting prescription efficiency.
Over the last two decades-plus at ProMetrics, Mr. Duey and his long-tenured colleagues have developed and built numerous proprietary technology platforms for data collection, aggregation, integration, analysis and reporting to cost-effectively raise systems of record, information, and knowledge up to systems of intelligence. Under his direction, ProMetrics has served over 150 clients, completed over 10,000 projects, and played a role in the launch of dozens of specialty brands that have reached sales in excess of a billion dollars per year. Today, Marc’s stewardship provides insights and guidance for over 300 million patient journeys, including AI-driven predictive analytics.
Marc previously served as founder and President of DuWest Research, a market research firm with offices in 5 cities on 3 continents. He serves on the Board of several biopharmaceutical firms and numerous non-profits. Marc earned an MSc in Toxicology from Ottawa University and an MBA from Western University, both in Canada. As an adjunct professor for over a decade at West Chester University, he teaches in both the MBA and the Pharmaceutical Product Development programs. He is an avid hockey player and obstacle course runner.
Nicholas is a Principal at Brookside Mezzanine Partners. Prior to joining Brookside Mezzanine Partners in 2008, he was an Analyst in the Middle Market Lending group at NewStar Financial where he participated in the origination, structuring and underwriting of leveraged finance transactions for middle market financial sponsor clients. Mr. Ganias also worked as a P&L Analyst at JWM Partners, a multi-strategy hedge fund located in Greenwich, CT. Mr. Ganias holds a BSBA with a concentration in Finance from Boston University, an MBA from Columbia Business School and is a CFA charterholder.
Founded in 2001, Brookside Mezzanine Partners has raised $900 million across four mezzanine funds and is currently investing from $375 million Fund IV (2019 vintage). The Firm is a leading provider of subordinated debt and minority equity capital to small and mid-sized companies throughout the United States. We invest in both sponsored and non-sponsored transactions and provide junior capital and unitranche financing to support buyouts, leveraged recapitalizations, strategic acquisitions, dividends and growth capital.
Mr. Petersen is leading Avego's pharma and healthcare services initiatives. Prior to joining Avego, Mr. Petersen was a Vice President at Edgemont Capital Partners, a healthcare-focused investment bank, where he executed mergers and acquisitions for companies in the pharmaceutical and healthcare services sectors. Prior to this, he served as an Associate at Newstone Capital Partners, a mezzanine debt investment fund, where he made private debt and equity investments across industries to support leveraged buyout transactions. Mr. Petersen began his career as an investment banker in the Global Financial Institutions Group at Citi, where he executed mergers and acquisitions, and debt and equity raises for insurance companies. Mr. Petersen graduated from New York University’s Stern School of Business with a BS degree in Finance.
Rich Blann is a Managing Director in the Healthcare Group at Cantor Fitzgerald, a global investment bank with 32 offices and over 11,000 employees across North America, Europe, Asia Pacific and the Middle East.
Over his 18 year investment banking career, Mr. Blann has completed over 65 M&A advisory transactions representing over $70 billion in aggregate value. At Cantor Fitzgerald, Mr. Blann leads the investment banking advisory practice across a number of specialty medical and dental fields including dental, ophthalmology, allergy/ENT, veterinary services, radiology, amongst others. His experience with physician and provider groups includes extensive work with founder-based groups and partnerships, multi-specialty practices, as well as advising private equity clients and their portfolio companies.
Prior to joining Cantor Fitzgerald, Mr. Blann was a Managing Director at Cain Brothers, a division of KeyBanc Capital Markets where he advised physician / provider based businesses. He began his investment banking career at Lazard and Wasserstein Perella, and later worked as an international M&A banker for Rothschild and Jefferies.
Mr. Blann holds an M.B.A. from New York University’s Stern School of Business and a B.A. with honors from Brandeis University
Scott Kauffman is a Partner at Northlane Capital Partners. Mr. Kauffman has more than 12 years of middle market private equity experience with Northlane and its predecessor. He initially joined Northlane’s predecessor as an Associate in 2004 and then rejoined in 2008 after completing business school. He began his career as an investment banking analyst at BB&T Capital Markets. Mr. Kauffman spends the majority of his time focused on investment opportunities in the healthcare services sector. Mr. Kauffman is currently a member of the Board of Directors at Firma Clinical Research and was previously on the Board of Directors at WIL Research, Schulman IRB, and Science Care, amongst other companies. Mr. Kauffman received an M.B.A. from the Stanford University Graduate School of Business and a B.S. in Business Administration, magna cum laude, from the University of Richmond.
Wendy DiCicco is an experienced C-suite executive and a corporate director with an array of corporate leadership accomplishments with both public and private companies. She currently serves on the boards of EyePoint Pharmaceuticals (NASDAQ: EYPT), where she serves as the Audit Committee Chair, and Carmell Therapeutics. She has previously served on three additional corporate boards, including boards in the medical device, semiconductor and biotechnology sectors, where she has experience chairing the audit, compensation and governance committees Ms. DiCicco is also a Financial, Executive and Board Advisory Consultant for several emerging growth companies. At the C-level, she brings broad, practical leadership experience including financial and operational acumen as a CFO, COO and President. Most recently, Ms. DiCicco was the Chief Operating and Chief Financial Officer of Centinel Spine and previously the President and Chief Operating Officer at Camber Spine Technologies. Prior to these two privately held spinal technology companies, Ms. DiCicco served as the Chief Financial Officer for several private and public medical device and biotechnology companies. Ms. DiCicco started her career with Deloitte & Touche in audit assurance. Ms. DiCicco also serves in the community, where she is currently on the board of the Chester County Library System and the Philadelphia Chapter of the National Association of Corporate Directors (NACD) as well as previous service for other non-profit organizations. She is a Corporate Governance Fellow as well as a Board Leadership Fellow of the NACD. Ms. DiCicco graduated from Philadelphia College of Textiles and Science with a B.S. degree in Accounting and is a CPA in the state of Pennsylvania.