Board of Directors
Dr. Jacobson, current Chairman of MedCare Investment Funds, is the former Vice Chancellor for Health Affairs at Vanderbilt University and CEO of Vanderbilt University Medical Center (VUMC). During Dr. Jacobson’s 11+ years of tenure, VUMC revenues grew from $750 million to $2.5 billion while delivering superior care at substantially lower costs seen in similar hospitals, its Federally-funded (NIH) research program moved from 24th to the top 10 in the country, and it opened over $1 billion of newly constructed research and patient care facilities. As a result, VUMC was recognized as a “most-wired” hospital as well as a U.S. News and World Reporthonor-roll hospital, and, most recently, as a Fortune 100 top place to work.
Dr. Jacobson has been a successful investor and entrepreneur, as well having founded or co-founded 10 companies. In addition, in his role at VUMC he participated in the oversight of technology transfer operations, which resulted in the creation of over two dozen companies.
Notable co-founded companies include Contact Software (the developer of Act!, the world’s leading contact management software), acquired by Symantec (SYMC:NASDAQ); Renal Care Group (RCG:NYSE), a leading dialysis service company, acquired by Fresenius (FMS:NYSE); Ambulatory Services of America (currently privately held), a diversified outpatient ancillary services provider currently providing dialysis and radiation oncology services (2009 revenue estimate > $200 million); and CeloNova Biosciences, a medical device company with two CE-approved and one FDA-approved products (2009 revenue estimate > $7 million).
Dr. Jacobson has been both a formal and informal advisor to several venture and private equity funds. He formerly served on the Board of Directors of Kinetic Concepts (KCI:NYSE) and Merck (MRK:NYSE).
Dr. Bonilla is the Founder of the Microtia-Congenital Ear Institute. Arturo Bonilla, M.D. is a Pediatric Microtia Surgeon who “exclusively” specializes in children’s ear deformities. He is Board-Certified in Otolaryngology Head & Neck Surgery and holds an additional two year clinical and NIH research fellowship in Pediatric Otolaryngology, Head & Neck Surgery. Dr. Bonilla received his microtia training at the prestigious Children’s Hospital of Pittsburgh. Dr. Bonilla received his M.D. degree at the University of Texas Health Science Center at Houston.
After medical school, Dr. Bonilla continued surgical training for 7 more years including General Surgery, Otolaryngology Head & Neck Surgery and finally, an additional two year subspecialty training in Pediatric Otolaryngology Head & Neck Surgery.
Dr. Bonilla returned to San Antonio, Texas with his family and since 1996, he has developed the largest exclusive PEDIATRIC microtia center in the United States. Since founding the Microtia-Congenital Ear Deformity Institute, Dr. Bonilla has given numerous lectures throughout the United States and is presently in private practice. Dr. Bonilla is currently pursuing an additional degree in Entrepreneurship from Babson College in Wellesley, MA.
Mr. Lyles is the President of MedCare Investment Funds with over 20 years of experience establishing health care companies. Mr. Lyles has managed an investment portfolio for over twenty years, including both public and large private companies, and serves as an Advisory Director of Majesty Hedge Funds. He also serves on numerous for-profit and non-profit Boards of Directors.
Mr. Lyles’ primary responsibility is President of a private holding company, which oversees both strategic and operational issues for various portfolios. Mr. Lyles has helped organize each fund in the MedCare Investment Funds group and has served as President of each fund since 1991. As a founding partner, Mr. Lyles was an active member of management in founding Renal Care Group along with Dr. Jacobson and the late Sam Brooks. Mr. Lyles, through his role as President of MedCare Investment Funds, has founded and established numerous health care companies. Examples include companies in the health care services sector (an ambulatory services company partnering with physicians and providing dialysis and radiation oncology services; an outpatient imaging services and management company), the medical technology sector (a medical device company with two CE Marks-approved and one FDA-approved device, and a company developing a device to treat glaucoma and presbyopia), and the health care information technology sector (a physician practice software company focused on women’s health and an early stage health care informatics company creating electronic medical records for Regional Health Information Organizations (RHIO), large health care systems, hospitals and multisite practices, a benefits management company utilizing proprietary software).
Mr. Lyles has also helped found and build multiple high tech businesses primarily involving data transmission over cellular technology. Mr. Lyles is an Attorney and was appointed a Briefing Attorney for the Chief Justice of the Supreme Court of Texas from 1983-1984. Prior to attending law school, he was employed by KPMG Peat Marwick. Mr. Lyles is a Certified Public Accountant and has written material for the Texas State Bar and has been a speaker for the State Bar of Texas and the Dallas Bar.
Mr. McNay is the Managing Principal of Essex Investment Management Company, Boston, MA. Prior to founding Essex in 1976, Joe was Executive Vice President and Director of Endowment Management & Research Corp. for nine years. Before 1967, Joe was Vice President and Senior Portfolio Manager at the Massachusetts Company.
Mr. McNay currently serves as a Trustee of National Public Radio, Trustee of the Dana Farber Cancer Institute, Trustee and Investment Committee member of the Boston Ballet, and is a Trustee Emeritus and member of the Children’s Hospital Investment Committee. He received his A.B. degree from Yale University and his M.B.A. degree from the Wharton School of Finance.
In 1980, Dr. Sandler was awarded a fellowship in Endocrinology, Metabolism and Nuclear Medicine at Vanderbilt University Medical Center where he subsequently became Assistant Professor of Radiology and Radiological Sciences and Assistant Professor of Medicine. He was named Director of Clinical Nuclear Medicine, ultimately becoming Director of Nuclear Medicine/PET, until his appointment as Chairman of the department in 2000. In 2006, he was named Associate Vice Chancellor for Hospital Affairs with responsibility for Vanderbilt’s four hospitals. He returned to clinical practice in 2009.
Dr. Sandler has edited nine medical textbooks and received 21 industry and government-funded grants and awards for research. He also has published 102 peer-reviewed articles, 83 scientific abstracts, 10 editorials and 62 book chapters. His research findings in endocrinology and diagnostic imaging have been published and presented nationally and internationally. Dr. Sandler has twenty years experience consulting in the field of medical imaging technology transfer with corporate sponsors such as General Electric, El Scint, CTE, Spectrum Dynamics and Seno Medical.
Gerhard Bette joined the Executive Committee of Medcare Investment Funds in September of 2014.
Mr. Bette is a Director Emeritus of McKinsey & Company, Inc., the pre-eminent global consulting firm. He retired from McKinsey’s Chicago office at the end of October 2010 after more than 28 years serving leading global institutions on some of their most important issues. His practice focused on working with senior teams of technology-based companies in healthcare, IT and telecommunications industries. He has also worked with several leading Private Equity firms on due diligence efforts and portfolio company management issues.
At McKinsey, Mr. Bette held a range of internal leadership roles. He is one of the co-founders of McKinsey’s global Telecommunication practice and served as the leaders of its North American telecommunication practice for many years.
Since Mr. Bette’s retirement, he has been continued to be active as an advisor to several of his former clients, including some global private equity and alternative investment firms. He serves on two private equity held portfolio company boards. He is also an Adjunct Lecturer at the Department of Management, Organization and Strategy at the Kellogg School of Management at Northwestern University. He has taught courses on topics ranging from business building, strategy, and since 2008, on managing in professional service firms and problem solving. Additionally, he is a coach for a number of corporate and non-profit executives, and serves as a board member of non-profits institutions.
Mr. Bette holds an MBA from the Harvard Business School and a Doctorate in Mathematics from the University Duisburg, Germany. He graduated from the University Dortmund, Germany with a degree in Mathematics and studied at the Universite Pierre et Marie Curie, Paris with post graduate scholarships from the French and German governments.
Mr. Tom Umbel is Chief Executive Officer and President of Seno Medical Instruments, Inc. Mr. Umbel brings more than 30 years of medical device and diagnostics leadership experience to Seno Medical. He has lead several start-up companies, including one through a successful acquisition. He has also managed large organizations through significant growth leading both the strategic development and M&A efforts in his previous roles.
Mr. Umbel was most recently the VP of Business Development for Bioventus, a privately held ortho-biologics company in Durham, NC. Mr. Umbel led the Business Development efforts at both Bioventus and Hologic, the largest dedicated Women’s Health company in the U.S. His role in managing mergers and acquisitions helped to grow Hologic from a small single-product company with $100 million in revenue to a large diversified company with more than $2.5 billion in sales in his 15 years with the company.
Prior to Hologic, Mr Umbel was the President of Direct Radiography Corp. (DRC). He led the development and commercialization of the digital x-ray detector technology, which he ultimately sold to Hologic in 1999. This company’s technology became the core to Hologic’s market leading digital mammography system and was the engine to Hologic’s significant growth.
Prior to DRC, Mr. Umbel worked at Sterling Diagnostic Imaging for 3 years and DuPont for 20 years. At those two companies, he held senior management positions in operations, engineering, sales and marketing.
Mr. Umbel has a BS in Chemical Engineering from Grove City College.