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The Story of CoverMyMeds with Ted Frank: from $10M Revenues to a Sale of $1.4B

January 17 @ 7:30 am - 8:50 am

Event Recap:

The January 17 CFE program had the most registrations and the largest attendance of any of our CFE programs to date. We were delighted to see many new faces in the crowd, which speaks to the CFE’s relevance and ever growing membership.

Ben Calkins of CFE sponsor The Calkins Law Firm, Ltd. was host of the program, and started by thanking all of the other CFE sponsors, Ken Greaney and Greg Keegan of JP Morgan, David Brown of Red Hawk Associates, Windom Ratchford of Creative Gold Media, and new sponsor Bradley Calkins of Spaceman. We couldn’t do this without our sponsors and ask you to support them with your business!

Jerry Frantz of JumpStart served as Moderator of the program, which featured Ted Frank, former CFE of Ohio’s first unicorn, Cover My Meds. Ted told his story, starting with a lawn mowing business during his teen aged years, to his studies at Miami of Ohio, to his work as a banker with Ameritrust and his studies at Weatherhead, to his early entrepreneurial ventures, to his joining JumpStart and subsequently Cover My Meds. The crowd was spellbound as Jerry recounted what it was like to work at Cover My Meds, what Cover My Meds did and what distinguished the company (among other things the people and the culture), and ultimately how it came to be that Cover My Meds was acquired by McKesson on favorable terms.

CFE is dedicated to bringing people and ideas and capital together to reinvent and rejuvenate the region’s economy, by, among things, hosting and sharing programs like this one!

Ben

Event Gallery:

Click for slideshow

About Theodore W. Frank:

Managing Partner, Marketcypher Capital

LinkedIn

With over twenty-nine years of building, leading and advising organizations through aggressive growth, Ted Frank has a stellar track record of helping SaaS and technology-enabled healthcare
organizations scale and become more profitable. Driving to what’s possible versus what’s perceived achievable, Ted focuses on creating data-driven strategies, building extraordinary teams and developing a deep understanding of his client’s market in order to better leverage opportunities for organic growth. After its purchase of CoverMyMeds, Ted spent the last few years in an expanded role as CFO at McKesson Prescription Technology Solutions and helped the organization markedly accelerate its organic growth. As CFO of CoverMyMeds (a healthcare software and digital industry network company) from the time it was $10M in sales, he helped the team capture a multi-billion dollar market opportunity that resulted in $1.4B sale and $1.5B returned to
shareholders. He has now founded Marketcypher Capital, a private investment firm developing a portfolio of companies in the healthcare and software as a service technology industries. Ted currently resides in Cleveland, Ohio with his wife, Stacy.

Original Event Details:

Ted Frank, former CFO of CoverMyMeds, will talk about helping to lead the growth and eventual sale of that business to McKesson. He will also give our audience leadership and deal insights from his stellar career.

By means of introduction, Ted has over twenty-nine years of building, leading and advising organizations through aggressive growth, Ted has a stellar track record of helping SaaS and technology enabled healthcare organizations scale and become more profitable. Driving to what’s possible versus what’s perceived achievable, Ted focuses on creating data-driven strategies, building extraordinary teams and developing a deep understanding of his client’s market in order to better leverage opportunities for organic growth. After its purchase of CoverMyMeds, Ted spent the last few years in an expanded role as CFO at McKesson Prescription Technology Solutions and helped the organization markedly accelerate its organic growth. As CFO of CoverMyMeds (a healthcare software and digital industry network company) from the time it was recording $10M in sales, he helped the team capture a multi-billion dollar market opportunity that resulted in $1.4B sale and $1.5B returned to shareholders. Ted currently resides in Cleveland, Ohio with his wife, Stacy.

Who should attend? Investors, managers or advisors to businesses.

Please join us at the Cleveland Racquet Club. Check in and complimentary breakfast starts at 730a, Discussion starts at 750a. This event is complimentary. Please register in advance. If you like to learn, meet, eat and have fun, then join us.

Moderator: Jerry Frantz, Chief Investing and Services Officer at JumpStart.

Program Host:  Ben Calkins, co-Founder of the Center, provides business law services to middle market business owners and investors.

 

Thank You to Our Sponsors!

JP Morgan Private Bank: it is a leading provider of wealth management solutions and advice and is an important segment of JPMorgan Chase, the largest US bank and the 6th largest bank in the world. 

For more information about JP Morgan Private Bank’s services, please contact Greg KeeganVice President, Investment Specialist, Ken Greaney (216/781-2392) Vice President, Banker or John Arrowsmith, Managing Director, Investment Specialist.

The Calkins Law Firm is a premier boutique law firm that specializes in business law and focuses on business transactions and business disputes. Please contact Ben Calkins (440/796-4592).

Red Hawk Associates primarily helps investors acquire founder or family owned firms. Please contact David Brown (216/464-8714).

Meeting Agenda

730a Continental Breakfast and Networking

750a Program

850a Adjourn

 FAQs

 Are there ID requirements to enter the event?

Pre registered guests only, please, due to space limitations.

 Is my registration/ticket transferrable?

Yes.

 Do I need to print and bring my paper event ticket?

No.

 Where can I contact the organizer with any questions?

Contact David Brown at [email protected] or 216/464-8714.

 How do I contact the professionals at JP Morgan Private Bank?

For more information about JP Morgan Private Bank’s services, please contact Greg Keegan, Vice President, Investment Specialist, Ken Greaney (216/781-2392) Vice President, Banker or John Arrowsmith, Managing Director, Investment Specialist.

You might also be interested in becoming involved with the 100+ Men Who Care about Cleveland group.

See the next meeting information here

Venue

Cleveland Racquet Club
29825 Chagrin Boulevard, Pepper Pike, Ohio 44124
Pepper Pike, Ohio 44124 US
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Organizer

The Center for Free Enterprise
Website:
https://www.eventbrite.com/o/the-center-for-free-enterprise-8038369444