Boston Millennia Partners
 | |
| Type | Private ownership |
|---|---|
| Industry | Private equity |
| Predecessor(s) | Boston Capital Ventures |
| Founded | 1982 |
| Headquarters | Boston, Massachusetts, United States |
| Products | Venture capital |
| Total assets | $750M |
| Website | bmpvc.com |
Boston Millennia Partners is a private investment firm that provides private equity financing to high growth companies in the healthcare and business services industries.[1] The firm is based in Boston, Massachusetts and was formed in 1997 when the founding partners spun out of Boston Capital Ventures to create Boston Millennia Partners. The managers have organized nine separate investment partnerships. Boston Millennia Partners’ investors include institutions, corporate pension programs, as well as non-profit foundations and high net worth family offices.
The managers have completed over 100 individual investments and 300 add-on acquisitions over twenty years. Investments include PAREXEL International (PRXL), GlycoFi (acquired by Merck),[2] Ilex (ILXO, acquired by Genzyme),[3] Bright Horizons (BFAM), Verio Inc. (VRIO, acquired by NTT),[4] Odyssey Logistics,[5] Arthrosurface,[6] Athenix (acquired by Bayer CropScience),[7] P&H Solutions (acquired by ACI Worldwide),[8] Nexidia, Inc.,[9] MedAptus, Inc.,[10] and Hotjobs.com (HOTJ, acquired by Yahoo!).
Management
A. Dana Callow, Jr., Managing Partner
Mr. Callow is a founder and Managing Partner of Boston Millennia Partners. Prior to forming Boston Millennia Partners, Mr. Callow co-founded Boston Capital Ventures in 1982 and was a Partner in four of its investment partnerships. Prior to that, he worked as a Senior Consultant at Braxton Associates, an international strategic planning firm that was organized by professionals from Boston Consulting Group and Bain & Company. His primary clients were Fortune 100 multinational companies, for which he advised senior management on strategic planning and implementing merger and acquisition strategies. Prior to his activity in the management consulting business, Mr. Callow worked in sales and marketing for Tymshare, Inc. a venture funded and subsequent public company in the cloud and remote computing sector which was acquired by McDonnell-Douglas. In 1986, he was the founding institutional investor in PAREXEL International Corporation (NasdaqGS: PRXL), and continues as its Presiding Director and Chair of the governance committee. From its inception and seed funding with four employees, PAREXEL is now the third largest clinical research organization worldwide, generating revenues in excess of $2 billion annually with approximately 14,400 employees in 52 countries.[11] Its current sales backlog exceeds $5 billion.
He is a lead investor in, or has served as, a Director of a number of other public and private companies, including Ilex Oncology, Inc. (Nasdaq: ILXO), a cancer pharmaceutical company acquired by Genzyme for $1 billion; MedAptus, Inc., a mobile computing provider of clinical, financial and administrative software solutions to the medical community; and PHT Technologies, Inc., a provider of mobile and Web-based technology solutions to the pharmaceutical industry focused on patient outcomes and clinical trials management. Other investment responsibilities included GlycoFi, Inc., (acquired by Merck (NYSE: MRK)); HotJobs, Inc. (acauired by Yahoo! (NasdaqGS: YHOO)); iVillage, Inc. (acquired by NBC Universal, a subsidiary of General Electric (NYSE: GE)); and Tektagen, Inc. (acquired by Charles River Laboratories (NYSE: CRL)). Mr. Callow manages investments in CardioMEMS, Inc., a cardiovascular heart sensor device for the treatment of congestive heart failure, and Arthrosurface, Inc., a developer and manufacturer of advanced orthopedic devices. Mr. Callow is a past Director of Jobs for Massachusetts, a Massachusetts based non-profit organization of business and political leaders including Governor Mitt Romney (formerly) and Governor Deval Patrick.
Mr. Callow is a Member of the National Board of Directors of the Leukemia & Lymphoma Society, a $300 million in annual budget, non-profit organization advancing the research and treatment of blood cancers worldwide and chairs its Therapy Acceleration Program Committee. He is a member of the Board of Trustees and the Chairman of the Investment Committee at Tufts University and on the Board of Overseers at Tufts University Medical School. He is a member of the Advisory Board of the Amos Tuck Center for Private Equity and Entrepreneurship at Dartmouth College. Mr. Callow is a graduate of Tufts University and holds an MBA from the Amos Tuck School at Dartmouth College.
Martin J. Hernon, Partner
Mr. Hernon has been a Partner at Boston Millennia Partners since its founding in 1997. Mr. Hernon was formerly a Principal at Boston Capital Ventures. Previously, he was Assistant General Counsel for Lifetime Corporation (NYSE: LFT), an alternate site healthcare services business, where he was responsible for securities law matters and for mergers and acquisitions, and was a corporate attorney at Warner & Stackpole (now Kirk & Lockhart), where he focused on working with emerging growth companies. He is, or previously was, a Director of Child Health Systems, Inc., a pediatric healthcare services company; Deltagen, a provider of development tools and services to the biopharmaceutical industry; Infotrieve, Inc., a provider of information services for the life sciences and other R&D intensive industries; and Odyssey Logistics & Technology Corporation, a global lead logistics provider. Mr. Hernon is also responsible for Boston Millennia Partners’ investment in Nexidia, Inc., a provider of technology solutions for audio and video search. Mr. Hernon holds a BA from Boston College, an MA in Economics from the University of Maryland, and a JD from Georgetown University Law Center.
Robert W. Jevon
Mr. Jevon has been a Partner at Boston Millennia Partners since its founding in 1997. He was previously a venture partner at Boston Capital Ventures, which he joined in 1996. Prior to that, he was Managing Director and co-owner of Watch Hill Corporation, a Boston based private investment firm. Previously, he was Controller of Bolt, Beranek and Newman’s Communications Division. He was stationed in Copenhagen as Finance Director of BBN Communications A/S. His earlier business career included several assignments in General Electric’s Financial Management Program. Mr. Jevon serves as a Director of PreCision Dermatology, Inc., Collegium Pharmaceutical, Inc., and PHT Corp., a company that delivers clinical research services to the pharmaceutical industry. He has previously served as director for Athenix Corp., an agricultural-biotechnology company developing insect and herbicide resistant plants (sold to Bayer CropScience (Xetra: BAYN.DE)), Galt Associates, which provides safety and outcomes data management products and services to major pharmaceutical companies (sold to Cerner (NasdaqGS: CERN)), eMed Technologies, which provides systems to digitally store and transmit radiological images (sold to Cedara Software Corp. (NasdaqGM: CDSW)), and Proteome, a protein database company (sold to Incyte Genomics (NasdaqGM: INCY)). Previous investment responsibilities have included HotJobs.com, an online recruiting solution (acquired by Yahoo! (NasdaqGS: YHOO)). Mr. Jevon has a BA in economics from Haverford College and holds an MBA from the Amos Tuck School at Dartmouth College.
Robert S. Sherman
Mr. Sherman has been a Partner at Boston Millennia Partners since its founding in 1997. Previously, he was at Boston Capital Ventures and a General Partner at Hambro International Venture Fund. Mr. Sherman’s Director responsibilities have included P&H Solutions, a provider of Web-based cash management software for financial institutions (acquired by ACI Worldwide (NasdaqGS: ACIW)) and Nexidia, Inc. He has also served as a Director of MedSpan (acquired by Oxford Health Plans (NYSE:OHP)); TriVergent Communications (now NuVox Communications); Intrado (NasdaqNM: TRDO); Kronos (NasdaqNM: KRON); UNIsite (acquired by American Tower (NYSE: AMT)); Strato Medical Corporation; and Techmedia. Other investment responsibilities have included V-Span (acquired by Gores Technology Group) and Totality. Mr. Sherman served on active duty in the United States Navy and attained the rank of Lieutenant. He is a graduate of Amherst College and holds an MBA from the Harvard Business School.
Patrick J. Fortune, Ph. D., Partner
Dr. Fortune has over 30 years of experience in the healthcare, life sciences and information technology sectors, including R&D, business development, manufacturing, information technology and general management responsibilities. He has been a Partner at Boston Millennia Partners since 2002. He was previously President and Chief Operating Officer of New Era of Networks (Nasdaq: NEON); Vice President at Monsanto; Vice President at Bristol-Myers Squibb; Group President at Baxter International; and VP R&D at Baxter International. Dr. Fortune was responsible for Boston Millennia Partners’ investments in CombinatoRx, Inc. (NasdaqGM: CRXX), Sapphire Therapeutics, Inc., and Histogenics Corp., as well as several other private life sciences companies. He has been involved in 30 M&A transactions from sourcing the company opportunity to closing the investment and ensuring integration. Dr. Fortune has also served on the engineering and scientific advisory boards of the University of Wisconsin, the University of Illinois, and the University of Chicago, and currently serves on the Industrial Advisory Board of the Cleveland Clinic Foundation and on the Commercial Advisory Board of the Global Cardiovascular Innovation Center of the Cleveland Clinic. He holds a BA from the University of Wisconsin, an MBA from Northwestern University, and a Ph. D. in Physical Chemistry from the University of Wisconsin.
William M. de Groot, Principal
Mr. de Groot joined Boston Millennia Partners in August 2008. He has worked on international, federal and state public policy issues for healthcare companies including GlaxoSmithKline, Novartis, and Millennium Pharmaceuticals. Mr. de Groot has had an extensive career in the public policy arena working both inside and outside of the government sector. This work focused on driving legislation/regulation that allowed for a more streamlined delivery of products, services and overall healthcare to patients. Mr. de Groot is active developing new investment opportunities for Boston Millennia Partners as well as supporting portfolio companies through maturity and exit. Mr. de Groot has been a lecturer at Boston University School of Management. Mr. de Groot is a graduate of La Salle University in Philadelphia, Pennsylvania and holds an MBA from the University of Chicago Graduate School of Business.
Bruce R. Tiedemann, Chief Financial Officer
Mr. Tiedemann founded Tiedemann & Company, an independent certified public accounting firm in 1985. He has also served as Chief Financial Officer or Controller of several start-up venture funded companies. His professional experience includes over 25 years of public accounting experience. In addition to working at Boston Capital Ventures and Boston Millennia Partners, Mr. Tiedemann has served on a part-time basis as Chief Financial Officer for several individual companies, including Health Payment Review (Nasdaq: HPRI), PAREXEL International (NasdaqGS: PRXL), The Cornerstone Group, Healthcare First, and Interneuron Pharmaceuticals. A graduate of Bentley University, Mr. Tiedemann is a Certified Public Accountant, and is a member of the American Institute of Certified Public Accountants and the Massachusetts Society of Certified Public Accountants.
References
- ↑ "Boston Millennia’s Callow on the state of the VC industry". Retrieved 17 December 2013.
- ↑ "GlycoFi grabbed by Merck for $400M". Retrieved 17 December 2013.
- ↑ "Genzyme Completes Acquisition of ILEX Oncology, Inc.". Retrieved 17 December 2013.
- ↑ "Verio Acquisition Gives NTT a Global Presence". Retrieved 17 December 2013.
- ↑ "Odyssey Logistics Adds On". Retrieved 17 December 2013.
- ↑ "Boston Millennia Partners Invests in ArthroSurface, Inc.". Retrieved 17 December 2013.
- ↑ "Bayer CropScience to buy RTP neighbor Athenix". Retrieved 17 December 2013.
- ↑ "Transaction Systems Architects Closes P H Solutions Acquisition". Retrieved 17 December 2013.
- ↑ "Nexidia Secures Over $23 Million In New Equity Funding". Retrieved 17 December 2013.
- ↑ "Investors put a $6M charge into MedAptus". Retrieved 17 December 2013.
- ↑ "PAREXEL INTERNATIONAL REPORTS THIRD QUARTER FISCAL YEAR 2013 RESULTS". Retrieved 17 December 2013.