Behrman Capital, a private equity investment firm based in New York and San Francisco, has appointed Robert E. Flaherty as an operating partner.
Behrman Capital, a private equity investment firm based in New York and San Francisco, has appointed Robert E. Flaherty as an operating partner.
Flaherty (pictured) will work with existing Behrman Capital portfolio companies to build value as well as source and evaluate new acquisition platforms in the healthcare space for the firm’s continued growth.
‘We first had the opportunity to work with Bob Flaherty in 2002, when Behrman Capital acquired Athena Diagnostics, a leading developer and marketer of sophisticated esoteric tests for neurological, endocrine and kidney disorders,’ says Grant G. Behrman, managing partner of Behrman Capital. ‘Under Bob’s leadership Athena continually enhanced its ability to identify and commercialize new diagnostic testing services, emerging as one of the preeminent providers of advanced neurological assays. Bob is an extremely gifted executive and highly successful entrepreneur and we are delighted that he will join with Behrman Capital as we continue to explore investments in the healthcare sector.’
‘I am very pleased to be once again working with Grant and his colleagues at Behrman Capital,’ says Flaherty. ‘Behrman is distinctive for its ability to focus on a highly specialized yet fragmented industry such as the clinical labs sector, establishing it as a platform for several successful portfolio investments. The firm’s support marked the start of a highly productive period at Athena, and I look forward to working with Behrman to bring that kind of strong operational support to other companies.’
In 2006, Behrman Capital sold Athena Diagnostics to Fisher Scientific International, now part of Thermo Fisher Scientific, in a USD283m transaction.
Flaherty served for over 17 years as president and chief executive officer of Athena Diagnostics before his retirement earlier this month. During his tenure he grew Athena’s revenue from USD3m to USD110m and profits from zero to USD50m.
Prior to joining Athena, he held a series of senior management positions at Becton Dickinson, a large multinational medical technology company, serving as president of Becton Dickinson Medical from 1984 through 1992 and president of Becton Dickinson Vacutainer Systems from 1982 through 1984. He joined Becton Dickinson as a marketing director in 1976.
Flaherty held product management, sales and marketing positions with C.R. Bard, a provider of vascular, urology and oncology related products and services, from 1971 through 1976.
He currently serves on the board of directors of Behrman Capital portfolio company Ark Holdings, a multi-state, nursing home operator. He is also on the board of the Chernobyl Children’s Project (USA), a charitable organisation assisting children afflicted by the Chernobyl nuclear explosion.
