Healthcare: Has Govt Risk Ruined PE Opportunity?

Dec. 4, 2012 - PRLog -- How Risky is Healthcare Investing?

The healthcare game is changing dramatically in the US, giving rise to a challenge for private equity investors in this sector – how to underwrite risk when the risks are so hard to measure? Regulatory, reimbursement and political risks are the core focus of this fascinating conversation between

James Elrod, Managing Director and Co-Head of the Healthcare Group for Vestar Capital Partners, Sherrill Neff, Founding Partner of Quaker Partners, and Tammy Hill, Partner for Transaction Advisory Services at McGladrey.

This is the first of a four-part thought leadership series focused on the private equity opportunity in healthcare. Topics discussed include: the government as an increasingly dominant payer in healthcare, which services and products are likely to be hit with reimbursement cutbacks, why home health looks like a good bet but nursing homes and big-market therapeutics do not, and why these experts are closely following the development of state-level health-insurance exchanges. Thisprogram includes an expert Q&A with Tammy Hill. The series is sponsored by McGladrey.

View the full video here - http://www.privcap.com/programs/222-how-risky-is-healthca...

http://www.youtube.com/watch?v=cJXt6Rv47Ak



Tammy Hill
Partner, Transaction Advisory Services
McGladrey
Tammy provides consulting services with a specialty in financial due diligence on mergers and acquisitions. Prior to joining McGladrey in 2006, Tammy was in public accounting and held a variety of senior financial positions with a Fortune 500 company.
Tammy’s experience includes:
Extensive transaction experience as head of mergers and acquisitions for a Fortune 500 company
In-depth due diligence on all aspects of transactions ranging in size from purchase prices of $5 million to more than $4 billion
Negotiations of deal terms and financing arrangements
Consulting assistance to private equity and strategic buyers performing due diligence on target companies
Professional Affiliations and Credentials:
American Institute of Certified Public Accountants
Chartered Financial Analyst (CFA) Institute
Tammy has written and conducted training courses on the financial services industry. She has spoken to groups of investment analysts on mergers and acquisitions, and other various accounting and transaction valuation issues.
Education:
BS with highest distinction in Accounting, Indiana University

P.Sherrill Neff
Founding Partner
Quaker Partners
Mr. P. Sherrill Neff is a Founding Partner at Quaker BioVentures. Mr. Neff is a Partner at BioAdvance Ventures LP, Quaker BioVentures Fund I, II LP and Garden State Life Sciences Venture Fund LP. Mr. Neff founded Quaker Partners Management, L.P. in 2002 and has been its Partner since its inception. Mr. Neff served as the President, Chief Operating Officer and Chief Financial Officer of Neose Technologies, Inc. from 1994 to 2002. He served as the Senior Vice President of Corporate Development at Aetna Inc. from 1993 to 1994. Mr. Neff served as Managing Director in the Investment Banking Division at Alex Brown & Sons Inc. from 1984 to 1993 and Corporate Attorney at Morgan, Lewis & Bockius LLP from 1980 to 1984. He served as the Chairman at Biolex Therapeutics, Inc. from February 2008 to November 09, 2010. He serves as Board Observer at Cempra Holdings, LLC and has been its Director since September 2011. He has been Director of RainDance Technologies Inc. since January 25, 2011, Resource Capital Corporation since March 8, 2005 and Biolex Therapeutics, Inc. since March 2004. He serves as Director at Neuronetics Inc. and Regado Biosciences Inc. He is a Board Observer at Argolyn Bioscience, Inc. He served as Director at Resource America Inc. from 1998 to March 8, 2005, Neose Technologies Inc. from 1994 to 2003, Amicus Therapeutics Inc. from 2005 to May 24, 2011 and JeffBanks Inc. since 1994. He served as Director of BioRexis Pharmaceuticals Corporation, Jefferson BanCorp. Inc., Walgreens Specialty Pharmacy, LLC, Mid-Atlantic Capital Alliance, Optherion Inc and Medmark. He serves as Director of The Biotechnology Institute. He served as President of The Pennsylvania Biotechnology Association. Mr. Neff serves on the Boards of National Venture Capital Association, Vesper Boat Club and on the Policy Board of WXPN at the University of Pennsylvania. He is also a former Chairman of the Greater Philadelphia Venture Group and Venture Capital Committee for the Biotechnology Industry Organization's 2005 Annual Meeting in Philadelphia. Mr. Neff served as a Director of University City Science Center. He holds a J.D. magna cum laude from the University of Michigan Law School and a B.A. from Wesleyan University.

James Elrod
Managing Director, Co-Head of Healthcare Group
Vestar Capital Partners
Jim is a Vestar Managing Director, and is co-head of the Healthcare group. He joined the firm in 1998, bringing with him years of operational experience in the healthcare sector.
He was Executive Vice President at Physicians Health Services, where he also served as corporate CFO, CEO of the New York and New Jersey subsidiaries, and President of the New Jersey insurance subsidiary.
Before that, he was a partner at Dillon, Read & Co., a private investment bank, where he created and ran the firm's healthcare investment group, and served as co-head of equity issuance.
Jim graduated with an AB, cum laude, in English from Colgate University, and holds an MBA from Harvard Business School.
Originally from Atlanta, Georgia, Jim now lives in Riverside, Connecticut, with his wife and three children.