Leaders in Pharmaceutical Business Intelligence (LPBI) Group

Richard A. Mandahl­­, Business Development, M&A, Exit Management

 

Roles at LPBI Group:

• Business Development Activities: Initiation, pursuit of leads offered, contributions to Venture’s strategic plan definition and its execution
• Client Acquisition during the prospecting period for an acquirer for LPBI Group Intellectual Property (IP)
• Prospecting for an acquirer for LPBI Group Intellectual Property (IP)
• Timeline: Transaction planned for completion in late 2019-2020.
• Finding a Buyer for the Venture’s IP for the following potential Transaction types:

1. Outright sale of IP. A Total of 10% of Proceeds EBITA paid to Venture Founder will be allocated among all contributors to the exit activity, one day after 9, below is TRUE
2. M&A,
3. Licensing of variously defined “bundles of products”, See Ventures Assets, below
4. Licensing of variously defined “bundles of services”, See Ventures Assets, below
5. Sell of Segment(s) of the total universe of the Venture’s IP 
6. Exploration of M&As Options
7. Complete responsibility for management of the Exit process
8. All parties sign on the dotted line and
9. Transaction proceeds clears.

Venture assets:

(a) The Journal, 1.7 Million eReaders, 5,700 scientific articles 

https://pharmaceuticalintelligence.com/

(b)  BioMed e-Series of e-Books – 16 volumes – The Frontier in Life Sciences and Five Specialties of Medicine

https://lnkd.in/ekWGNqA

(c)  Archive of Top Tier Biotech Conference e-Proceedings – 60 events, Aviva Lev-Ari, PhD, RN, had attended and covered in Real Time, 2013 – Present plus 10 events covered by Dr. Williams.

https://pharmaceuticalintelligence.com/press-coverage/

 

UPDATED on 11/5/2019

Richard A. Mandahl, MBA

Health and Information Technology Business Development Advisor

Leaders in Pharmaceutical Business Intelligence (LPBI) Group

Boston, Berkeley, Cambridge UK, Maine, New Delhi, Palo Alto, Philadelphia, Princeton, Salt Lake City, Tel Aviv, Toronto

 

Rick Mandahl is engaged in helping the innovative Leaders in Pharmaceutical Business Intelligence (LPBI) Group evolve its scalable and reproducible business model, which includes maintaining a growing portfolio of eJournal, eLibrary, eConference proceedings and supporting advertising offers to support its current 1.5 million followers. LPBI Group aspires to be a global and disruptive alternative to cost-prohibitive medical and scientific publications, as well as a resource for translational research pursuits across multiple disciplines. LPBI Group is a company with virtual Knowledge-as-a-Service that can be organized, aggregated and distributed in novel ways anywhere from the Cloud. From a core and growing archive of specialized, technical content and new information products and services, the offerings of LPBI Group are journals, books and conference proceedings, which can serve as subject matter for podcasts for nontraditional and traditional consumers of technical content, including underserved populations anywhere. The core objective of containing the explosion of scientific and medical information while protecting against information obsolescence is well served by the current LPBI Group model as the company strives to position itself for the right strategic buyer.

Mandahl began his technology marketing career with BSL Technology, which was the final commercial phase of Berkeley Scientific Laboratories, a pioneering, clinical laboratory computing company co-founded by W. Wattenberg and D. Glazer (Nobel Prize – Physics,1960). He joined after graduate school, participated in a successful IPO led by CEO Kenneth D. Lame.’ The company later merger into Knowledge Data Systems to become a fully integrated hospital information systems company. The lead investment bank was Stephens, Inc., the firm that backed Sam Walton, founder of Walmart.

Subsequently, he joined the Parvus Corporation, a specialty engineering design and manufacturing firm for microprocessor-based harsh environment controls and played a critical role in winning a contract to embed the technology for global deployment in Varian Associates first-generation of computer-controlled radiation therapy linear accelerators. Key accomplishments included marshalling an embryonic technology from concept to finding key partners and early adopters, ultimately achieving global deployment. This effort also included the first ISO-9001 certification in the State of Utah.

Mandahl held positions in marketing and private-placement operations in Medicode to join payer, provider and workers compensation coding and reimbursement firms at the dawn of the managed care era. The investment banker was Hambrecht and Quist and the investment consortium included Sequoia, Trident Capital, Galen Associates, St. Paul Ventures and Partech. Medicode was acquired on the eve of its IPO by United Healthcare to become Ingenix. The leadership team, including Mandahl successfully courted and partnered with some of the world’s leading venture capitalists of the era, ultimately achieving a favorable exit into one of the top healthcare firms in the United States. In the process, the company honed its skills in transitioning from conventional publishing of coding and reimbursement books (ICD-9, CPT, HCPCS) to a portfolio of database and software tools for providers, payers and workers compensation organizations, thus providing expert knowledge and proven technology in the arbitrage between provider and payer as United Healthcare expanded into both realms.

After more than a decade of start-up and early-stage entrepreneurship, Mandahl joined AT&T Government Solutions, responsible for data and network sales for a five-state region, won a new Utah statewide contract, connected the state capitol building with AT&T’s global backbone (fiber optic network) and delivered the new statewide University of Utah Telehealth Network (telemedicine) extending from the Idaho border in the north to tribal lands on the Arizona border. He also worked to bring fiber optic redundancy to the Cache Valley of Northern Utah. This experience enabled serious exploration of advanced network technologies, laying the foundation for cloud-based solutions today also providing serious network training and understanding of software, hardware and networks integrated with professional services.

Mandahl moved back to start-ups with the University of Utah, serving as business development lead for the translational and interdisciplinary Brain Institute, a neuroscience research enterprise spanning from basic science to clinical applications, to explore genomic underpinnings of neuropathology. This endeavor was led by distinguished scientists and clinicians: Executive Director Dr. Thomas N. Parks was Chair of the Department of Neurobiology, co-founder of NPS Pharmaceuticals, and Dr. Ray Gesteland was Distinguished Professor of Human Genetics, Howard Hughes Medical Institute (HHMI), Vice President for Research Emeritus, University of Utah. Dr Erik Jorgensen, Scientific Director of the Brain Institute received his HHMI appointment during this period and Advisory Board member Dr. Mario Capecchi, Co-Chair, Dept of Human Genetics (and HHMI) was soon to be awarded the Nobel Prize for Physiology or Medicine. Areas of exploration included Addiction, Alzheimer’s Disease, Epilepsy, Multiple Sclerosis, Parkinson’s Disease and Spinal Cord Injury. Novel fundraising and partnership initiatives were introduced, including venture philanthropy and, in the process, the Brain Institute team helped set the stage for what later became the largest gift to date for the University of Utah Hospital.

Mandahl next became a founding member of UNIConnect, a three-person software partnership designed to change laboratory computing by supporting the deep and complex processes of molecular science, including pharmacogenomics and next-generation sequencing. Mandahl and his partners grew the partnership to support global precision medicine and crop science companies delivering solutions to DuPont by pioneering a worldwide seed trait laboratory network in the U.S. mainland, Hawaii, Puerto Rico, as well as in Ontario Canada, Chile, Germany, South Africa, India and China. Additionally, he supported Newborn Screening Ontario, Canada’s highest-volume molecular lab, and ARUP Laboratories, a nationally recognized clinical laboratory leader in esoteric testing. UNIConnect customers operated in regulated environments requiring HIPAA, CLIA, CAP, FDA 21-CFR-11, 510K compliance along with rigorous quality certifications, including Lean Six Sigma and additional global standards.

Along with the founding team, Mandahl helped UNIConnect grow while carefully exploring for exit partners. UNIConnect was acquired by Sunquest Information Systems, a division of Roper Technologies (NYSE-listed company) in a strategic acquisition, adding UNIConnect prowess in molecular diagnostics / precision medicine to the Sunquest clinical laboratory platform. UNIConnect molecular diagnostic systems were Google Cloud-based SaaS. Drawing upon years of entrepreneurial experience in sales, marketing, business development and fundraising with leading healthcare angel and venture capital investors, Mandahl helped his team achieve significant technological, clinical and commercial success.

He received his B.A. in Political Science from the University of Denver, M.B.A. from the University of Utah and pursued post-graduate studies in healthcare, science – business leadership, and technology marketing from Harvard Business School Executive Education.

He funded his baccalaureate and master’s degrees through avalanche forecasting, control and rescue endeavors in ski patrol operations in western North America. In addition, he has engaged in mountain pursuits in Alaska, the Alps, the Andes and the Nepal Himalayas. He was appointed to the Board of Trustees for the 1998 Salt Lake Olympic Campaign working with French-speaking International Olympic Committee members and was a founding member of the Soldier Hollow Olympic Nordic Ski Patrol for the Winter Games of 2002. Active in endurance sports, he has completed over 70 marathon courses running or on cross-country skis.

 

Additional information

 

Rick Mandahl’s Domains of Expertise: All topics relate to the business of science

The following 12 Categories of Research on the ontology of venture’s Journal

https://pharmaceuticalintelligence.com/ represent the domains on which Mr. Mandahl will be using his Author access privilege to the platform to periodically post short articles on the journal.

1. Allergies and Infectious Disease
2. Alzheimer’s Disease
3. Big Data
4. BioIT – Bioinformatics
5. Biomarkers and Medical Diagnostics
6. Biotechnology – Venture Creation
7. Cancer genomics
8. Clinical Diagnositcs
9. Pharmacogenomics
10. Commercialization
11. Personalized Medicine Coalition
12. FDA

BIO

 

Richard A. Mandahl­­

Salt Lake City, UT 84121 • 801-243-5937

• rmandahl@gmail.com

• linkedin.com/in/rick-mandahl-557260

 

Senior Health Care – Life Sciences Business Development and Sales Entrepreneur:

­­­

• Molecular medicine (research and clinical) IT sales and business development executive with success in delivering information systems to support innovation and operational excellence.
• Startup specialist: new ventures, new corporate and institutional initiatives including corporate fundraising
• Experienced with domestic and international clients with CAP/CLIA laboratories and HIPAA requirements
• Special expertise with molecular in vitro diagnostic (IVD) test developers and laboratories offering MDx, CDx, PCR, PGx, NGS for infectious disease, oncology, inherited and somatic disorders
• Winning background in the sales and marketing of health IT, cloud services software, and networks ­­

Professional Experience:

Vice President of Business Development Transitional Role – Sunquest Molecular Division (2016-2017)

UNIConnect L.C. (acquired by Sunquest Information Systems)

Following the Sunquest acquisition of UNIConnect, continued to lead the development of new opportunities in the molecular market, including healthcare systems, molecular diagnostic test developers, molecular diagnostic device companies, molecular forensic labs, government laboratories. and LIMS consultants to increase referrals.

• Build relationships with academic institutions, cancer centers, forensics laboratories, molecular test and device developers, and major IT companies.
• Lead alternate channel business development of wetlab and drylab molecular diagnostics information systems to drive new opportunities with multimillion dollar potential.

Selected Accomplishments:

• Opened major new channel opportunities, including the global molecular diagnostics blood screening, nucleic acid test (NAT) market.
• Facilitated growth by opening and guiding CxO-level talks with a global CDx device leader toward embedding UNIConnect-Geneinsight platform into their product line for global distribution.
• Established relationships within a major academic medical center where Sunquest had previously lost the clinical laboratory business; opened new opportunities via molecular software tools.
• Built an opportunity pipeline of prospects in the federal, healthcare, diagnostics, biotech, and academic sectors.
• Leveraged personal relationships to top molecular diagnostics leaders to advocate UNIConnect’s MDx LIMS.

Founding Partner, Board Member, & Vice President of Business Development, UNIConnect (2007-2016)

• Directed business development and marketing efforts for startup developer of cloud-based molecular laboratory software. Client base included CAP and CLIA certified labs with HIPAA requirements.
• 3^rd employee hired by the company; held a partnership as well as an executive role.
• Leadership involved in all aspects of business. Performed fundraising, established an SBA-backed line of credit, recruited CFO, brought in intellectual property legal resources, directed PR.
• Recruited a creative agency to design the company website, collateral, and graphics. Oversaw the creation of the technical product descriptions portfolio, including electronic and print advertising campaigns.
• Led the rebranding of corporate names, trademarks, and registrations in the U.S., Canada, and Europe.

Selected Accomplishments:

• Lead role in initiating and managing the process that led to the sale of UNIConnect to Sunquest.
• Guided, with UNIConnect executive team, the company to a 30x increase in revenue from Y1 to 2016.
• Developed the molecular strategy focus to drive market share, growth, and eventual strategic acquisition.
• Won strategic new accounts including ARUP Laboratories, Children’s Hospital of Eastern Ontario, Clinical Genomics (Australia), and others.
• Raised millions of dollars in funding through angel investment, bank line of credit and final sale of company.
• Delivered major growth by penetrating a variety of markets, including blood-based molecular diagnostics, molecular forensics, cancer centers, and medical and health science academic institutions.
• Increased brand visibility by achieving key MDx journal placements and coordinating major case studies.
• Helped UNIConnect gain recognition as the sixth fastest growing company in Utah in 2012.

Brain Institute at the University of Utah, 2004 – 2007

Director of Business Development

• Recruited to guide the launch of the Brain Institute, an interdisciplinary, translational neuroscience enterprise integrating basic, applied and clinical research.
• Supported the VP of Research in the area of personalized medicine.
• Led promotion efforts for research services, focusing on grant agencies, philanthropists, pharmaceutical firms, and medical device companies.
• Directed the institute application process, achieved formal institute designation by Utah Board of Regents

Selected Accomplishments:

• Launched funding from initial startup to multi million dollars in some cases spanning the following decade, setting the stage for the largest single gift in the history of the University of Utah Hospital.
• Developed the strategy to obtain a research-only 3 Tesla Magnetic Resonance Imaging (MRI) machine.
• Formulated the strategy that produced the Interdisciplinary Work Groups provided new research funding.
• Co-authored the Planning Grant for the USTAR Molecular Biotechnology Building.
• Initiated new venture philanthropy advancement strategies that produced new funding sources from Alzheimer’s to MS to spinal cord injury research.
• Project manager for joint University of Utah – Intermountain Healthcare response to RFI, “Utah’s Vision for Genomic/Personalized Medicine”, invited by the Department of Health and Human Services, February 2007.

AT&T, 2000 – 2003

Senior Sales Executive – Government Solutions

• Senior Account Manager for a multi-state territory for this telecom giant. Supervised 5 direct and dozens of indirect reports. Sold high speed, fiber optic data network technology, with 3 multi-product categories.
• Client portfolio state governments and universities in the western US – CIOs, Governors, university leaders.

Selected Accomplishments:

• Member of the Public Sector State and Education Roll-Out Team that opened significant opportunities.
• Consistently met or exceeded personal quota each year.
• Won State of Utah Data Network Contract, AT&T’s first public sector statewide data network contract in Utah. Contract valued at more than $10M over 5 years.
• Sold, managed the installation of the University of Utah Telehealth Network, from cities to Tribal lands.
• Increased revenues by introducing new professional services offerings focusing on HIPAA compliance, network security audits, and business continuity/disaster recovery consulting.
• Established a relationship with the Utah Education Network that led to new data services statewide.
• Developed a successful capital investment business case that led to the upgrade of the Utah State Capital building to a global backbone with an OC-12 fiber optic ring.

CAREER NOTES: Director of Marketing at MEDICODE (coding and reimbursement), member of leadership team which raised $19MM in 7-month private placement effort via Hambrecht & Quist, Sequoia, Trident, Galen, later acquired by United Healthcare to become Ingenix. VP of Marketing and Sales at PARVUS CORP (controls for Varian radiation therapy – oncology- linear accelerators). Director of Marketing – BSL Technology – Clinical Lab IT.

 

Education:

Master of Business Administration, David Eccles School of Business, University of Utah

Bachelor of Arts, University of Denver

 

Training:

Harvard Business School Executive Education:

• Value Measurement for Health Care
• Business Innovations in Global Health Care
• Leading Science Based Enterprises
• Marketing Innovative Technologies

Affiliations: Personalized Medicine Coalition, Association for Molecular Pathology, Licensing Executives Society 

Languages: Fluent in French