New York and San Francisco, May 15, 2009 — Behrman Capital, a private equity investment firm based in New York and San Francisco, today announced that Robert E. Flaherty has joined the firm as an Operating Partner.
As an Operating Partner at Behrman Capital, Mr. Flaherty 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,” said 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,” said Mr. 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, Inc. to Fisher Scientific International 2 Inc., now part of Thermo Fisher Scientific Inc., in a $283 million transaction.
Mr. 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 $3 million to $110 million and profits from zero to $50 million. Prior to joining Athena, he held a series of senior management positions at Becton Dickinson & Company, 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. Mr. Flaherty held product management, sales and marketing positions with C.R. Bard, Inc., a provider of vascular, urology and oncology related products and services, from 1971 through 1976. A 1968 graduate of Lehigh University with a BS in Industrial Engineering, Mr. Flaherty earned an MBA from Harvard Business School in 1971.
Mr. Flaherty currently serves on the Board of Directors of Behrman Capital portfolio company Ark Holdings, Inc. a multi-state, nursing home operator. He is also on the Board of the Chernobyl Children’s Project (USA), a charitable organization assisting children afflicted by the Chernobyl nuclear explosion.
About Behrman Capital
Based in New York City and San Francisco, Behrman Capital was founded in 1991 by Grant G. and Darryl G. Behrman. The firm invests in management buyouts, leveraged buildups and recapitalizations of established growth businesses. The company’s investments are primarily focused in five industries: defense, specialty manufacturing, outsourcing, health care and information technology. The firm currently has a combined capital base in excess of $2.0 billion. For more information, please visit www.behrmancap.com.
# # #
For Behrman Capital:
David Lilly / Michael Freitag
Kekst and Company