NEW YORK--(BUSINESS WIRE)--Petrichor Healthcare Capital Management (“Petrichor”), a healthcare investment firm, today announced the appointment of Donald M. Berwick, MD, MPP, FCRP, to its Advisory Board. Dr. Berwick is President Emeritus and Senior Fellow at the Institute for Healthcare Improvement (IHI) and previously served as Administrator of the Centers for Medicare and Medicaid Services (CMS) during the Obama Administration.
Dr. Berwick began his career as a pediatrician at Harvard Community Health Plan and became the plan’s first Vice President of Quality-of-Care Measurement in 1983. In this role, he investigated quality control measures used in other industries such as aeronautics and manufacturing to consider their application in healthcare settings. From 1987 to 1991, Dr. Berwick was co-founder and co-principal investigator for the National Demonstration Project on Quality Improvement in Health Care. Based on this work, Dr. Berwick left Harvard Community Health Plan and co-founded the IHI, a Boston-based not-for-profit organization dedicated to improving how patient care is delivered and analyzed throughout the world.
In addition to his work as an advocate for innovative healthcare policy, Dr. Berwick has served on the faculty of the Harvard Medical School and Harvard School of Public Health, and on the staffs of Boston’s Children’s Hospital Medical Center, Massachusetts General Hospital, and the Brigham and Women’s Hospital. He also served as Vice Chair of the US Preventive Services Task Force, the first “Independent Member” of the American Hospital Association Board of Trustees, and Chair of the National Advisory Council of the Agency for Healthcare Research and Quality. Dr. Berwick served two terms on the Institute of Medicine’s (IOM’s) Governing Council and served on President Clinton’s Advisory Commission on Consumer Protection and Quality in the Healthcare Industry. Dr. Berwick is recognized as a leading authority on healthcare quality and improvement and has received numerous awards for his public service, including being knighted by Queen Elizabeth II in 2005 for his work with the British National Health Service. He remains active and outspoken on healthcare policy reform, authoring over 170 scientific articles and six books throughout his career.
Petrichor Founder and Managing Partner Tadd S. Wessel welcomed Dr. Berwick’s support, saying, “We are honored to have Don join our Advisory Board. As one of the most accomplished healthcare policy experts globally, Don brings a wealth of experience analyzing and improving patient care. We are thrilled by the experience he brings to our platform.”
“The breadth of knowledge the Petrichor team has demonstrated in our work together is impressive,” Dr. Berwick said. “I look forward to working with them in an advisory capacity and supporting their investments in innovative healthcare companies.”
Dr. Berwick joins Mr. Peter Greenleaf, a longtime biopharmaceutical industry veteran and Chairman of Cerecor, Inc., Sir Bruce Keogh, Former National Medical Director for NHS England, as well as Dr. Raymond Schinazi, a renowned virologist and Chairman of Cocrystal Pharma, on Petrichor’s Advisory Board. The Board assists Petrichor’s investment team in their identification, diligence, and support of investment opportunities, including serving on the board of directors of portfolio companies.
About Petrichor Healthcare Capital Management
Petrichor Healthcare Capital Management partners with world-class healthcare managers and businesses to provide customized investment structures and support. The Petrichor team of investment professionals comes from highly-regarded financial institutions including OrbiMed Advisors and Fortress Investment Group. Collectively, the team has completed over 75 investments representing more than $5 billion in invested capital and has held over 25 board seats. Petrichor maintains a deep in-house understanding of healthcare products and services, including scientific, technical, and commercial expertise. This healthcare expertise, together with a breadth of experience investing across sectors, geographies, and capital structures, provides a strong competitive advantage.