NASHVILLE, TENN. (March 5, 2014) - FCA Venture Partners (“FCA”), a leading source of equity capital for early-stage companies in the Southeast and venture capital manager of Clayton Associates, announces the completion of its advisory board with the additions of Paul Rutledge, Herb Fritch, George Salem, Larry McTavish, and Leon Drennan. They join Larry Kloess, former President of HCA TriStar, Jim Fitzgerald, founder and former President of Health Trust Purchasing Group, John Ingram, CEO of Ingram Content Group, Aubrey Harwell, managing partner of Neal & Harwell, PLC, Stuart McWhorter, Partner and Chairman of Clayton Associates, and Clayton McWhorter, Founder and Chairman Emeritus of Clayton Associates.
“We are pleased to welcome these five business leaders to our advisory board. Their extensive healthcare and business experience will provide our portfolio companies with a better understanding of, and access to, healthcare systems, suppliers, and end users," says John Burch, Co-managing Partner of FCA Venture Partners. "As healthcare continues to evolve, their relationships and insight will add value to our team."
Rutledge and Salem join Kloess and Fitzgerald as Operating Partners, an expansion of the advisory board unique to FCA Venture Partners newest fund, FCA V, a $53M fund focused on healthcare services and technology. Each of the new members has very specific healthcare expertise, including healthcare revenue cycle, supply chain management, hospital management, physician services, and information technology. “We are leveraging our Operating Partners, along with our network of board members, investors, and affiliates, to add value and guidance in each of our investments,” said Matt King, Co-managing Partner of FCA.
Paul Rutledge is former President of HCA’s Central Group, responsible for 61 of HCA’s hospital operations in Georgia, Indiana, Kansas, Kentucky, Louisiana, Mississippi, Missouri, New Hampshire, Tennessee, Virginia, and London, England. Rutledge has over 30 years of healthcare leadership experience at HCA with multiple corporate and market positions, including CEO of Centennial Medical Center, the flagship hospital of HCA’s Nashville market, and Division President of TriStar.
Herb Fritch is President of Cigna-HealthSpring, joining in 2012 after Cigna’s acquisition of HealthSpring, one of the largest coordinated care plans serving the Medicare and Medicaid market, which he founded and served as CEO. Before founding HealthSpring, Fritch founded and served as President of North American Medical Management and served as Regional Vice President at Partners National HealthPlans. He also founded Sanus Corp. Health Systems, a regional managed care company. Fritch is an industry leader and has over 40 years of experience in healthcare.
George Salem is the founder and former CEO of Proxsys, LLC, a portfolio company from FCA’s previous fund, FCA IV, which sold to athenahealth in 2011. He previously founded and was CEO of both Guidestar Health Systems and the Southeast Health Plan, an IPA model HMO in Birmingham, Alabama. Salem is also on the board of directors for FCA V portfolio company, Catavolt, Inc.
Larry McTavish is former CEO of Source Medical Corporation, an outpatient information solutions and services provider for ambulatory surgery centers and rehabilitation clinics. Prior to Source Medical, McTavish served as CEO of BenView Capital, as well as a full-time consultant for Welsh Carson Anderson & Stowe, and CEO of Comdata, a provider of information services, financial services and software to the transportation and payments industries. McTavish is also on the board of directors for FCA V portfolio company, Medical Reimbursements of America.
Leon Drennan is former President of HCA Physician Services. Drennan has over 31 years of leadership experience with HCA, having previously operated at a Senior Executive level overseeing an array of functions, including All About Staffing, Design/Construction and Engineering, Real Estate, Corporate Services, Revenue Integrity, and Internal Audit. Drennan also developed a leadership platform for audit staff, generating opportunities both inside and outside the company.
About FCA Venture Partners
FCA Venture Partners, the venture capital manager of Clayton Associates, was founded in 1996 by R. Clayton McWhorter, founder of HealthTrust, Inc. and former chairman of Hospital Corporation of America (NYSE:HCA), to serve as a platform for investing in transformational healthcare and technology related strategies. FCA Venture Partners fifth fund, FCA V, is focused on healthcare services and information technology businesses in early to growth stages with disruptive, scalable business models, led by strong management teams with sector specific expertise. FCA and its affiliates have invested $175 million in over 85 companies to date, resulting in more than $7 billion in annualized revenue. For more information, visit www.claytonassociates.com.