New Enterprise Associates: New Enterprise Associates Names Richard Whitney Venture Partner
New Enterprise Associates Names Richard Whitney Venture Partner
Proven Executive and Investor to Further Enhance Medical Team
MENLO PARK, CA — (MARKET WIRE) — January 24, 2007 — New Enterprise Associates (NEA)
has addedRichard K. Whitney to its healthcare and life sciences group as a VenturePartner. Mr. Whitney will work from NEA’s Menlo Park office.
“Rich very clearly understands how to create value in life sciencescorporations,” said Chip Linehan, NEA General Partner. “We warmly welcomehim to our team and look forward to the role he’ll play in both identifyingnew investment opportunities as well as working with our existing portfoliocompanies.”
Mr. Whitney is the founder and Managing Member of Whitney Capital LLC, aprivate equity investment firm focused primarily on healthcare services andproducts. Previously, he served as Executive Chairman of Specialty Labswhere he led the turnaround and successful sale of the company. Earlier,he served as Chief Financial Officer of DaVita, Inc where he was a leadexecutive in the company’s four-year financial and operating turnaroundwhich created over $3 Billion of equity value for investors. Mr. Whitneyearned a Masters of Business Administration from Harvard Business Schooland a BS in Business Administration from Pennsylvania State University.
NEA
“There is a strength at NEA on which many great companies build theirfutures,” said Mr. Whitney. “I look forward to working with this team andto being a part of the process of helping to build those great companies.”
About NEA
New Enterprise Associates (NEA) is a leading venture capital firm focusedon helping entrepreneurs create and build major new enterprises that usetechnology to improve the way we live, work and play. Since its founding in1978, the firm has followed the same basic principles: support theirentrepreneurs, provide an excellent return to their limited partners andpractice their profession with high standards and respect. Practicingclassic venture capital for 28 years, NEA focuses on investments at allstages of a company’s development, from seed-stage through IPO. Withapproximately $8.5 billion in committed capital, NEA’s experiencedmanagement team has invested in over 550 companies, of which more than 150have gone public and more than 220 have been acquired. NEA has offices inReston, Virginia, Menlo Park, California and Baltimore, Maryland. Foradditional information, visit www.nea.com.
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