EU: Planning the Exit at the Outset
Wednesday, December 12 2012
8:00 am – 10:00 am
Location: MassBio, 300 Technology Square, 8th Floor, Cambridge, MA
In today’s challenging market, exit planning is more important than ever. Whether your company strategy includes an IPO, sale to a larger company, or bootstrapping, it is important to understand the liquidity options from the beginning, and to incorporate flexibility for multiple scenarios as market conditions evolve. Running low on capital and exiting prematurely can limit your upside and leave you at the mercy of vaguely defined future milestones, while hanging on too long can nullify an ROI on your sweat equity and your investors’ capital. If you grow a company organically with no defined exit strategy, you could limit the growth of your team, the future value of your company, and your exit options.
Planning your exit at the outset is never easy. If you take funding from outside investors, they will want to know your exit options and can force an exit under certain situations. Without exit options you have no pathway to the future.
Join us on December 12th as we explore various strategies for planning your exit at the outset.
- Thomas A. Fitzgerald, Vice President & Chief Financial Officer of Velico Medical
- Philip Lee, President & CEO of PHT Corporation
- Dr. Navjot Singh, Director of McKinsey and Company, Inc.
Thomas A. Fitzgerald has served as Vice President and Chief Financial Officer of Velico Medical since the latter half of 2006. Mr. Fitzgerald has extensive financial management experience with life sciences companies as both an investment banker and chief financial officer. His specialty is significantly improving corporate valuations through carefully considered strategic transactions and by close attention to operations and finance. As an investment banker, including as founding Managing Director for the healthcare investment banking firm of Leerink Swann, he completed public offerings, private financings, and mergers, acquisitions and other strategic transactions. As a chief financial officer, he has raised capital, improved working capital and cash flow, upgraded financial reporting systems and processes, improved operations, and managed corporate governance, IT, facilities, and HR. Mr. Fitzgerald earned an M.B.A. from the Harvard University Graduate School of Business Administration and an A.B. in Economics from Stanford University. Mr. Fitzgerald served in the U.S. Army for nearly four years, initially as an enlisted man and, subsequently, an infantry officer.
Philip Lee is one of the driving forces behind the widespread and global adoption of Patient Reported Outcomes (PROs) and electronic Patient Reported Outcomes (ePRO) solutions in the biopharmaceutical industry.
Since 2003, he has served as President and CEO of PHT Corporation where he has lead the company to achieve substantial corporate growth. Mr. Lee is a frequent speaker at Industry conferences and events and author of articles related to the use, benefits and rollout of ePRO.
Mr. Lee has more than 30 years of experience in the software industry with over 15 years devoted to serving the clinical research community. He was President and CEO of Clinsoft/Domain Pharma Corporation where he helped the Company achieve market dominance in clinical data management systems and adverse event reporting systems. Under his leadership, the company doubled its revenues, achieved profitability and was acquired by Phase Forward and later Oracle. After Clinsoft, Phil was President of eXcelon Corporation (EXLN), a public company in the XML development tools market. Previously, he held senior-level positions at Oracle Corporation, Interleaf Inc. and BBN Software Products (Bolt Beranek and Neuman).
Phil Lee holds a BS and Masters of Engineering Degree in Operations Research/Industrial Engineering from Cornell University.
Dr. Navjot Singh is the leader of the McKinsey Boston Office. His passions include Innovation, R&D and Regulatory related topics. He works with clients across the Healthcare Eco-System working with Pharmaceuticals, Biotechs, Private Equity/Venture Capital Firms, Contract Research Organizations, Health Care Providers and Regulators. He has over 11 years of experience at McKinsey, and prior to joining McKinsey, he was an R&D Leader at General Electric for 6+ years. Dr. Singh received a Ph.D. in Chemical Engineering from the University of Minnesota, and an M.B.A. from Rensselaer Polytechnic Institute. He has a B. Tech from Indian Institute of Technology. He is a co-author of numerous articles and a co-inventor on over 15 patents.