Jeffrey Goffman, Managing Partner & Chairman of the Board
Mr. Goffman was the Founder of OnCURE Medical Corp. (“OnCURE”). From 1998 until 2007 Mr. Goffman held various positions during his tenure at OnCURE including President, CEO, COO and Vice Chairman. OnCURE is one of the largest providers of outpatient radiation oncology care in the United States. OnCURE’s investors during Mr. Goffman’s leadership included Crossbow Ventures, Mercurius Fund, MedEquity, Halpern Denny & Co., Genstar Capital, Ares Management and Caisse de Dupot. Mr. Goffman grew OnCURE from its inception in 1998 to over $120 million in revenues with $32 million in EBITDA (earnings before interest, taxes, depreciation and amortization) with 40 centers owned and managed with a regional focus (number one provider in the State of California and the number two provider in the State of Florida) and approximately 100 oncologists affiliated with its centers.
OnCURE was sold in late 2006 for $230 million (representing a multiple of ten times trailing twelve month (“TTM”) EBITDA), with aggregate returns to its investors, depending on the time of investment, of between 3 and 4 times invested capital. Mr. Goffman is also a co-founder, owner and serves on the Board of Directors of Affiliated PET Systems, LLC, a private company that provides Positron Emission Tomography services in the Maryland / Washington D.C. area.
Mr. Goffman was the founder of U.S. Diagnostic, Inc. (“USD”), a leading consolidator of outpatient diagnostic imaging facilities. From its inception in June 1993 until 1997, Mr. Goffman served as USD’s Chairman and Chief Executive Officer, and took USD public in 1994. While at USD, Mr. Goffman grew USD to 120 centers in 19 states and over $225 million in revenues. In 1988 Mr. Goffman founded Goffman and Associates, Certified Public Accountants, PC, an accounting firm in New York, and remained a partner at this firm until 1994.
Mr. Goffman is an inactive Certified Public Accountant licensed in New York and Florida and holds a Bachelor of Science degree in Accounting from the Barney School of Business at the University of Hartford. Mr. Goffman is a member of the American Institute of Certified Public Accountants. Mr. Goffman is the current Chair of the American Cancer Society – Orange County Regional Council of Directors.
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Grant Ingersoll, Managing Director & Partner
Mr. Ingersoll has extensive experience in acquiring and integrating radiation oncology centers by working as the second-in-command of development at both Vantage Oncology and OnCURE. At OnCURE, Mr. Ingersoll worked directly with Mr. Goffman to cultivate new deal leads and opportunities, develop pro-forma analyses and forecasts, negotiate terms, oversee due diligence, finalize transactions and integrate newly acquired centers to OnCURE’s Operations Team through a 100-day succession plan.
At the time of Mr. Ingersoll’s departure, OnCURE was the largest radiation oncology provider in the US that focused solely on partnering with its physicians in lieu of employing them. After leaving OnCURE, Mr. Ingersoll joined Vantage Oncology, the second largest physician-partner provider of free-standing radiation oncology in the US. Along with his deal sourcing and closing responsibilities, Mr. Ingersoll led the financial valuation team that analyzed over forty radiation oncology investment opportunities.
During Mr. Ingersoll’s tenure at Vantage, the number of centers under management increased by 46%, annual facility revenue increased by 53%, and EBITDA increased by 58%. Prior to working in healthcare acquisitions, Mr. Ingersoll worked in finance at Microsoft and as a strategy/management consultant at Wipro (formerly NerveWire). At Wipro, he was part of a team that developed the U.S. market entry strategy for Hitachi’s Proton Beam Therapy program. Mr. Ingersoll held internships with the Principal Finance group at UBS on Wall St. and as a White House Intern in the Office of Political Affairs.
Mr. Ingersoll serves actively within the Church of Jesus Christ of Latter-day Saints. Mr. Ingersoll received a BS in Finance from Brigham Young University and an MBA from the University of Southern California, where he attended on scholarship and served as Class President.
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Mark O. Lama, Managing Director & Partner
Mr. Lama has extensive experience in healthcare middle market investment, acquisitions and operations. Mr. Lama was most recently COO of NationsHealth, $100 million revenue and $10 million EBITDA medical supplies company focused on diabetes products and insurance services were he led restructuring efforts on behalf of the ComVest Group. He was also an Operating and Investment Partner at ComVest, a leading private equity firm focused on middle market acquisitions, where he led their healthcare investment efforts.
Prior to his affiliation with ComVest, Mark was a Partner at Crossbow Ventures, where he focused on improving and monetizing the value of select portfolio investments. Crossbow Ventures was an investor with Mr. Goffman at OnCURE and Mark worked with Mr. Goffman on several initiatives. Mark spent six years as a Principal at UBS Capital Americas private equity group where he originated, led, and managed numerous private equity investments. Prior to this, he spent five years at Chase Capital Partners private equity group, where he worked on over 30 transactions, investing over $100 million.
Mark received his MBA from Harvard Business School, a Bachelor of Science degree in mechanical engineering from Columbia University, and a Bachelor of Arts degree in physics from Colgate University.
David Crowley, Chief Financial Officer & Partner
David Crowley, CPA, is the Chief Financial Officer of ION. Previously, Mr. Crowley was the Vice President, Controller of OnCURE Medical Corp. from 2002 to 2009. During his tenure at OnCURE, Mr. Crowley was responsible for the accounting department activities for: acquisition integration, post acquisition operational efficiencies, acquisition due diligence, physician reporting, treasury functions, capital request analysis, GL & financial statement preparation, and coordinated all audit and tax work with outside auditors.
From 1988 to 2001 Mr. Crowley held various financial and operational positions at Maxicare Health Plans, Inc. (a National HMO with $800 million in revenues and in 29 states) including Assistant Vice President of Underwriting, Assistant VP Accounting Operations and Assistant VP Financial Accounting. Mr. Crowley worked in public accounting prior to joining Maxicare as an audit supervisor at Laventhal & Horvath, CPA’s. Mr. Crowley is an inactive Certified Public Account licensed in California and holds a Bachelor of Business Administration Degree in Accounting from the University of Notre Dame.
