Welcome to ABL
Where Adaptive Health and Technology Leaders Collaborate.
California's Premier
Executive Membership Organization
For over 25 years, California's Technology and Health Executives have
relied on ABL's CEO Round Tables, through its unique multi-coach
approach, to accelerate their corporate and professional growth and help
them build great companies. In monthly, confidential Advisory
Board sessions, Members share and gain feedback on their most pressing
concerns.
In each
Vertical Industry Round Table, the Members are able to harness the
Group's "combined intelligence," to vet strategies, exchange ideas, and
leverage each other's real-world experiences, resulting in better
decisions for their corporations' growth.
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INSIGHT: From California's Top Executives
It's Still Springtime for Healthcare M&A
Earlier this week about 30 health and technology CEOs convened to hear “How to Buy A Company” from serial
entrepreneur and acquisition expert Casper Zublin and two of the senior partners
at Stradling Yocca Carlson and Rauth, Craig Carlson and Steve Freeman. Although
the afternoon was rich in strategic and tactical insights about the process,
some “nuggets” really stood out, particularly for CEOs considering growth
through acquisition. 1) Size matters. With the exception of very small deals,
the legal fees are going to be about $100,000, the “process” will be all
consuming for at least six months, and exceptionally disruptive, so leveraging
the costs – in dollars, time, and opportunity, makes the greatest sense. 2) Let
the seller set the price – otherwise you risk offending your future “partner”
with a low-ball offer, or could end up way
over-paying. 3) Set the price in Multiples of EBITDA, not a specific
Dollar amount. The Due Diligence doesn’t truly get underway until the LOI is
signed – and, ideally, the “exclusivity” clock starts running. “Something” that
lowers the value of the company is always
found in due diligence that makes the entity worth less. The last
take away occurred to me this morning in reading a New York Times OpEd piece: 4) When it
comes to healthcare Regulation and Legislation really matter. For example, CMS has run
several successful demonstration projects for purchasing durable medical
equipment (like wheelchairs and oxygen) through a competitive bidding process in
ten metro areas. Needless to say, the “loosing bidders” were unhappy about
this, so they lobbied Congress, who in turn bowed to their pressure, delaying
the program’s official launch for 18 months – which basically means it’s DOA. I
bet the folks at Apria who recently sold for one times revenues wishes that had
waited a few extra weeks.
Medicare Savings vs. the Lobbyists
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NEWS & ARTICLES:
Highlights from our bi-weekly Member Newsletter - ABL Healthcare OnlineSM
Welcome New Member – Quang X. Pham, CEO, Lathian
Quang Pham is founder and Chief Executive Officer of Lathian Health, a provider of technology-based
pharmaceutical marketing solutions. He founded Lathian (then known as
MyDrugRep.com) in 1999 and rejoined the company following an acquisition in
early 2008. As chairman and CEO during Lathian’s early years, Quang created the
vision, built the management team, and raised $14 million in venture capital
funding. He also secured multiple life science company customers. Lathian
provides a Spectrum of Solutions for medical marketing, combining promotion,
education, conferencing, sales effectiveness, and market research in a unique,
single cohesive platform. Previously, Quang was CEO of Monarch Healthcare
Staffing, a business consultant, and vice president of QTC, a disability
examination company. He is on the board of THINK Together, a nonprofit after
school provider, and volunteers as an advisory council member of Southern
California Public Radio. After serving as a U.S. Marine Corps helicopter pilot
in the Persian Gulf War and Somalia, he began his pharmaceutical
career as a sales representative with Astra Merck and Genentech. Quang is also
the author of his acclaimed memoir titled "A Sense of Duty: My Father, My
American Journey," published by Random House.
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Overview of ABL:
ABL, California’s leading Chief Executives’ Organization, provides its
Members with executive leadership coaching through its confidential peer
CEO Advisory Board Round Tables and executive learning workshops,
network of CEO peers and expert resources. ABL supports the needs
of its top-level Member Executives (CEOs of publicly traded, private and
not-for-profit companies) by providing them a place to draw on the
experience, knowledge and skill sets of their peers in a non-competing
vertical industry personal advisory board - multi-coach approach -
setting.
The core component of the ABL CEO Membership experience is the group
Round Table meeting. Members meet once a month for a half day with a
group of peer CEOs, Presidents, COOs and Division General Managers from
non-competing companies all from the same industry (healthcare,
technology or life sciences) in a trusted and confidential board room
like setting, which allows the executive Members to tackle topics and
enhance their decision making and business performance. Topics include:
developing and honing new business strategies, new lines of business,
best business practices, understanding new trends, developing an
effective board of directors, leadership training and executive
compensation.
Members also gather several times a year at workshops and conferences to
exchange ideas and connect with other chief executives beyond their own
CEO peer groups. In effect, ABL Members serve as each other’s business
coaches within the Round Tables and are encouraged to connect and
leverage their co-Member peers’ particular skills and expertise for
additional leadership coaching, one-on-one, outside of their monthly
group meeting. In addition, each Round Table’s Facilitator also serves
as an objective business advisor, offering executive and industry
insights and advice.
ABL's Chief Executive Leadership Development Round Table program is
currently being offered in California's greater Orange County, Los
Angeles and San Francisco County areas.
