Dr. Leininger has been a founder and investor in more than 40 companies. In 1976 he founded Kinetic Concepts (KCI:NYSE) as a specialty hospital bed company and served as CEO and then Chairman for over 20 years (he is now Chairman Emeritus). KCI has grown to be a diversified equipment, device and biologics company focused on preventing and healing wounds of all types; it had 2009 revenues of approximately $2 billion. In 1991, Dr. Leininger formed a private venture investment firm known as MedCare Investment Funds through utilization of his private equity and management firm. He is also a co-founder of Renal Care Group along with Dr. Jacobson and the late Sam Brooks.
Dr. Leininger has founded and established numerous healthcare companies through or with his private equity team. Examples include companies in the healthcare services sector (an ambulatory services company partnering with physicians and providing dialysis and radiation oncology services; an outpatient imaging services and management company), the medical technology sector (a medical device company with two CE Marks-approved devices and one FDA-approved device; a company developing a device to treat glaucoma and presbyopia), the healthcare information technology sector (a physician practice software company focused on women’s health; an early stage healthcare informatics company creating electronic medical records for Regional Health Information Organizations (RHIOs), large healthcare systems, hospitals and multisite practices; a benefits management company utilizing proprietary software), and the pharmaceutical sector (a pre-revenue drug discovery and development company with two promising drugs in phase III clinical trials).
Dr. Jacobson is former Vice Chancellor for Health Affairs at Vanderbilt University and CEO of Vanderbilt University Medical Center (VUMC). During Dr. Jacobson’s 11+ years of tenure, VUMC revenues grew from $750 million to $2.5 billion while delivering superior care at substantially lower costs seen in similar hospitals, its Federally-funded (NIH) research program moved from 24th to the top 10 in the country, and it opened over $1 billion of newly constructed research and patient care facilities. As a result, VUMC was recognized as a “most-wired” hospital as well as a U.S. News and World Report honor-roll hospital, and, most recently, as a Fortune 100 top place to work.
Dr. Jacobson has been a successful investor and entrepreneur, as well having founded or co-founded 10 companies. In addition, in his role at VUMC he participated in the oversight of technology transfer operations, which resulted in the creation of over two dozen companies. Notable co-founded companies include Contact Software (the developer of Act!, the world’s leading contact management software), acquired by Symantec (SYMC:NASDAQ); Renal Care Group (RCG:NYSE), a leading dialysis service company, acquired by Fresenius (FMS:NYSE); Ambulatory Services of America (currently privately held), a diversified outpatient ancillary services provider currently providing dialysis and radiation oncology services (2009 revenue estimate > $200 million); and CeloNova Biosciences, a medical device company with two CE-approved and one FDA-approved products (2009 revenue estimate > $7 million). Dr. Jacobson has been both a formal and informal advisor to several venture and private equity funds. He formerly served on the Board of Directors of Kinetic Concepts (KCI:NYSE) and Merck (MRK:NYSE).
Mr. Lyles has managed an investment portfolio for over 20 years, including both public and large private companies, and he serves as an Advisory Director of Majesty Hedge Funds. He also serves on numerous for-profit and non-profit Boards of Directors. Mr. Lyles’ primary responsibility is President of a private holding company, which oversees both strategic and operational issues for companies with Dr. Leininger. In 1991, Dr. Leininger formed a private venture investment firm known as MedCare Investment Funds, which Mr. Lyles is a co-founder of, and he has served as President since 2002. As a founding partner, Mr. Lyles was an active member of management in founding Renal Care Group along with Dr. Jacobson and the late Sam Brooks. Mr. Lyles, through his role as President of MedCare Investment Funds, has founded and established numerous healthcare companies. Examples include companies in the healthcare services sector (an ambulatory services company partnering with physicians and providing dialysis and radiation oncology services; an outpatient imaging services and management company), the medical technology sector (a medical device company with two CE Marks-approved devices and one FDA-approved device; a company developing a device to treat glaucoma and presbyopia), the healthcare information technology sector (a physician practice software company focused on women’s health; an early stage healthcare informatics company creating electronic medical records for Regional Health Information Organizations (RHIOs), large healthcare systems, hospitals and multisite practices; a benefits management company utilizing proprietary software), and the pharmaceutical sector (two pre-revenue drug discovery and development companies with one initiating Phase I clinical trial planning and a second with two promising drugs in phase III clinical trials).
Mr. Lyles has also helped found and build multiple high tech businesses primarily involving data transmission over cellular technology. From 1984 to 1989, Mr. Lyles was an attorney with the law firm of Haynes and Boone in Dallas, Texas. During 1986 and 1987, he taught Real Estate Financing at Southern Methodist University in Dallas. From 1983 to 1984, he was appointed a Briefing Attorney for the Chief Justice of the Supreme Court of Texas. In 1983, Mr. Lyles received his J.D., Cum Laude from SMU School of Law. Prior to attending law school, he was employed by KPMG Peat Marwick. Mr. Lyles earned an accounting degree from Texas A & M University, where he graduated Summa Cum Laude in 1979. In addition, Mr. Lyles is a Certified Public Accountant and has written material for the Texas State Bar and has been a speaker for the State Bar of Texas and the Dallas Bar.
Prior to joining MedcCare, Mr. Dashiff spent seventeen years as a healthcare investment banker advising healthcare companies on multiple fronts with respect to mergers, acquisitions, divestitures and capital markets transactions, including public/private equity, venture capital and senior/subordinated debt financing. Mr. Dashiff was previously a Managing Director with Morgan Keegan’s Healthcare Investment Banking Group and Co-Head of the Healthcare Corporate & Investment Banking practice of SunTrust Robinson Humphrey. He has also held positions in the healthcare investment banking departments of Raymond James & Associates and Smith Barney, Inc. Mr. Dashiff has completed assignments totaling more than $11.0 billion in aggregate transaction value for healthcare clients during his investment-banking career. His experience ranges across a variety of healthcare sub-sectors with emphasis on clients in the healthcare services and information technology areas.
Mr. Callister has 15 years of operating, consulting and investing experience. After serving as Tax Fellow to Senator Orrin Hatch in Washington, D.C., he spent 11 years with CURA Capital Corporation, a national medical equipment leasing company (fka KCI Financial Services). He served as Controller, CFO and President of CURA and was involved in $150 million in public and private debt and commercial transactions. Mr. Callister consulted with Mission City Management, Inc. and MedCare Investment Funds for five years where he performed diligence, negotiated deals and documents and oversaw many of the companies in Dr. Leininger’s portfolio funds. He also provided financial and management consulting services through his own consultancy for four years. Mr. Callister received his MBA from Brigham Young University after being ranked second in his executive program. He speaks Mandarin Chinese and lived in Taiwan for two years.
Dr. Doulis is former Assistant Vice Chancellor and Chief Operations Officer of the Informatics Center at Vanderbilt University. In this role, he was the single point of focus for the Informatics Center’s efforts to provide the most effective informatics and information technology infrastructure to meet the needs of the diverse operating units that make up VUMC. The objective of the position was to be best of class in support of medical center operations through informatics and information technology infrastructure.
As Chief Information Officer of MedCare, Dr. Doulis is responsible for the development of the information technology investment strategy for the fund and increase the value of the portfolio companies utilizing 20 years of experience as a physician executive, scientist, and architect and manager of healthcare information systems. Dr. Doulis received his M.D. from Monash University, Melbourne, Australia and has an extensive publication and presentation record.
Prior to joining MedCare in 2012, Dr. Noland was Associate Director of Finance at the Vanderbilt University Medical Center and prior to that, Associate Director in the Vanderbilt Office of Technology Transfer and Enterprise Development. In both roles, his primary responsibility was the assessment of early-stage technologies and business concepts and, when appropriate, their incorporation into start-up companies. During Dr. Noland’s time as head of Enterprise Development, companies spun out of Vanderbilt successfully raised funds in excess of $100 million, including ICA, a current MedCare portfolio company. Before joining Vanderbilt, Dr. Noland was an Assistant Vice President for business development at Renal Care Group (RCG:NYSE), a leading dialysis service company, acquired by Fresenius (FMS:NYSE). Dr. Noland received his B.S. from Florida State University and his Ph.D. from the University of Georgia. His research experience spans the fields of cell biology, biochemistry, pharmacology and nephrology.
As a Vice President of MedCare, Dr. Noland is responsible for supporting the existing medical technology portfolio companies and for evaluating new investments, particularly in the area of medical devices. Prior to joining MedCare, Dr. Noland acted as a consultant on a number of investment considerations including CeleNova BioSciences, a medical device company with two CE-approved and one-FDA approved product; Diabetes Care Group, a diabetes disease management company; digiChart, a specialty EMR company; and Seno Medical, a company developing functional imaging for cancer detection and diagnosis.
Mr. Ilesco started his career with Merrill Lynch Pierce Fenner, & Co. as a High Yield Debt and Healthcare REIT trader. After successfully being recognized in the Top 50 USA ranking amongst his peers, he joined an Institutional Private Banking team with over $1.0B in assets and served as their head trader on Debt and REITs. In conjunction with trading, Ron successfully sourced a $3.0B Fortune 100 RFP for their DC/ DB Plan and successfully engaged investment banking deals resulting in a $95M Pharmaceutical capital raise and a $15M Defense capital raise. Following the acquisition of Merrill Lynch by Bank of America, Mr. Ilesco chose to shift his efforts to the private markets where he served as Sr. Analyst for a venture-backed company, CapControls. After building his operating experience, Mr. Ilesco joined the MedCare team and serves as their Analyst. He is responsible for financial projections, valuation modeling, due diligence on current and considered investments, sourcing potential investments, and other transaction related functions.
Mr. Ilesco received his BS in Mathematical Economics from Wake Forest University and earned multiple academic scholarship honors. He is fluent in Romanian and has extensive knowledge of the European markets.