After recent recapitalization, QualityMetric to Move to Expand its Patient Reported Outcomes Solutions for Life Sciences and Healthcare Customers
- Martha Bayliss to become Advisor, added with Gardner to company Board of Directors
- After recent recapitalization, QualityMetric to Move to Expand its Patient Reported Outcomes Solutions for Life Sciences and Healthcare Customers
NEW YORK, Sept. 11, 2020 (GLOBE NEWSWIRE) -- QualityMetric (“QM”), an industry-leader of patient reported outcomes and clinical outcomes assessments products, scientific consulting and translation services, announced today the appointment of Garth “Gus” Gardner as Chief Executive Officer. His appointment comes as the company seeks to build on its position as the preeminent provider of Patient Reported Outcomes (PRO) and Clinical Outcome Assessments (COA) solutions and services to healthcare and life sciences companies, and following its recapitalization in August by Vesey Street Capital Partners, LLC. (“VSCP”). He will be joining the company’s recently constituted Board of Directors.
“We’re very excited about this announcement from Vesey Street Capital Partners’ newest portfolio company and we look forward to partnering with Gus and the executive team on future growth opportunities,” said Adam Feinstein, Managing Partner at VSCP.
“Gus brings deep experience in patient outcomes, research and analytics, and intimate knowledge of this business, with a record of successful leadership roles in multiple health technology companies, including QM earlier in its evolution,” said Larry Marsh, General Partner of VSCP. “We could not be more enthused about the leadership he will bring to the company as it enters this new chapter. We are equally thrilled to have Martha Bayliss also join our Board of Directors and serve as a company advisor after her successful tenure in running this business and look forward to her continued valuable contributions going forward.”
“Over the last two decades QM has established a track record of excellence in developing clinically-based, scientifically validated products and services that enhance the patient voice in drug development and across health care,” said Mr. Gardner. “I’m honored to be partnering with VSCP and the widely-respected management team at QM as we seek to build on that success by expanding and broadening the solutions we bring to the market to help measure the outcomes of patient care.”
Mr. Gardner’s career spans three decades of diverse leadership roles, including experience as the former President of QM. He also was an executive at Optum where he led multiple global science and analytics business units and helped oversee various analytics and emerging technologies efforts and initiatives. In 2018, he joined Optum International as EVP of Operations for its Brazil businesses, which included employee assistance programs and data/analytics consulting. Earlier in his career, Mr. Gardner was the Chief Operating Officer of Clinical Data, Inc., a global manufacturer of in vitro diagnostics analyzers and reagents, leading the company to rapid growth in analyzer products, menu expansion and novel laboratory middleware. Prior to Clinical Data, Mr. Gardner was a Division President at PSICOR, a leader in perfusion services, where he led his clinical team through rapid expansion prior to the company being acquired by Baxter International. Mr. Gardner is a formerly Board Certified Cardiovascular Perfusionist, and began his leadership career as an Officer in the United States Marine Corps.
A key role of QM’s newly established Board of Directors will be to provide the company’s executive team with strategic counsel across all areas of the business, including operations and business development. Ms. Bayliss was asked by VSCP to serve on the board of QM as she transitions her professional and academic pursuits.
VSCP, a New York-based healthcare services private equity firm, completed the recapitalization of QM in August. VSCP and affiliates contributed the equity for the transaction. First Eagle Alternative Credit, LLC and Morgan Stanley Credit Partners provided debt financing to support the transaction and Kirkland & Ellis served as legal counsel to VSCP.
ABOUT QUALITYMETRIC
QualityMetric works with the world’s leading healthcare and life sciences companies to measure and better understand outcomes through the creation, administration, and review of general and patient-specific health surveys. Founded in 1997, QM combines its proprietary scientifically validated general health and disease specific surveys with its enabling technology, advanced analytics, and sector expertise to work with all the world’s largest pharmaceutical companies in clinical trials and patient surveillance. For more information, please visit www.qualitymetric.com.
ABOUT VESEY STREET CAPITAL PARTNERS
VSCP is a private equity firm with substantial and differentiated healthcare services sector and sourcing expertise. Specifically, we specialize in middle market buyouts, with a focus on businesses with strong cash flow characteristics that create value for hospitals, physicians, pharmaceutical/life sciences companies, and health insurers by enhancing efficiency, expanding productivity, reducing costs, and growing revenues. Since inception, the firm has deployed approximately $600 million in capital, primarily as a control investor. For more information, please visit www.vscpllc.com.
Contacts:
Vesey Street Capital Partners
Bryan Sekino, CFA
Chief Financial Officer
Tel: (646) 847-2438
Email: bryan@vscpllc.com
Westwicke, an ICR Company
Media:
Mark Corbae
Tel: (203) 682-8288
Email: mark.corbae@icrinc.com
