|By PR Newswire||
|January 13, 2014 05:57 PM EST||
AUSTIN, Texas, Jan. 13, 2014 /PRNewswire/ -- Spindletop Capital Management, a healthcare focused private equity firm, is pleased to announce the promotion of Steve Whitlock and Bob McDonald, MD, MBA to Managing Director. Mr. Whitlock and Dr. McDonald have been with Spindletop Capital since its inception in 2011.
Steve has over 20 years of orthopedics industry experience, in addition to being a co-founder of Path4 Ventures and an Operating Venture Partner with PTV Sciences. During his tenure working in the venture space he co-founded LDR Spine USA, (now part of LDR Holdings) and either founded or incubated many emerging medical device and diagnostic companies. Steve began his career with Centerpulse Orthopedics (formerly Sulzer Orthopedics) where he held various executive management roles in Research and Development, New Business Development and Global Products in the areas of total joints, sports medicine, trauma and orthobiologics. He was a member of the Centerpulse executive team responsible for the company turnaround following one of the largest product recalls in the medical device industry. The success of the turnaround led to an acquisition by Zimmer in 2003 for $3.2 billion. He has been instrumental in bringing many technologies to the U.S. orthopedic market, holds 5 issued patents, and several pending patents.
Mr. Whitlock holds a B.S. in Mechanical Engineering degree from Texas A&M University and an MBA from the Embry-Riddle Aeronautical University.
Dr. McDonald has 30 years of experience as a physician, executive, and physician leader with extensive healthcare operating experience. Currently, he is President and Founder of Aledo Consulting, Inc., a consulting firm focused on the strategy and reimbursement concerns facing life science and health service companies. For the last 11 years, he has served as Course Director and faculty member of the MD/MBA Leadership Forum at Indiana University and was appointed Adjunct Full Professor within the Business of Medicine MBA program at the Kelley School of Business. He is also the Kelley School of Business Director of Physician Executive Coaching. Prior to these roles, he served in a variety of senior medical and operations positions at Anthem Blue Cross and Blue Shield (WellPoint) and its predecessor company, The Associated Group, including Medical Director of Medical Policy, Medical Director of Anthem Prescription Management and Medical Director of Health Care Management, Anthem Inc. At Anthem, he was involved in the growth of the Anthem prescription benefit business which was ultimately sold for $4.7 billion. Prior to Anthem, he served for three years at Eli Lilly and Company as a Health Economics Research Physician performing cost effectiveness analyses both as part of developmental trials and on site at health plans across the United States. He has served on the Boards of FAST Biomedical and ImmuneWorks.
Dr. McDonald received his MD degree from The University of Texas Southwestern Medical School and his MBA from the Wharton School of Business at the University of Pennsylvania. He completed his residency in internal medicine between the University of Texas-Southwestern Medical School/Parkland Hospital and Washington University – St. Louis and completed his fellowship in pulmonary medicine at Washington University – St. Louis.
"Steve and Bob have been valued members of the Spindletop team both in identifying attractive investments and partnering with our CEOs and our portfolio companies since our founding," says Dr. Evan Melrose, Managing Director at Spindletop Capital. "For much of the last decade I've been fortunate to have worked closely with both Steve and Bob through various roles. Well recognized as industry leaders, Steve and Bob have significant operating and technical expertise that will create substantial value for current and future portfolio companies."
ABOUT SPINDLETOP CAPITAL MANAGEMENT
Spindletop Capital, founded in 2011, is a healthcare investment firm focused on providing expansion capital for commercial stage healthcare companies. Based in Austin, Spindletop is managed by an unrivaled team of investment professionals and advisors with deep operating, technical, and transactional experience. Spindletop Capital leverages the organization's extensive experience, broad network and proprietary access to Texas resources to enhance value for management teams and financing syndicates. Spindletop Capital invests nationally across all sectors of healthcare including medical devices, diagnostics, healthcare services, healthcare IT, specialty pharmaceuticals and biotechnology.
SOURCE Spindletop Capital