January 17, 2020 1:30 AM
2:50 am
The Story of CoverMyMeds with Ted Frank: from $10M Revenues to a Sale of $1.4B
Cleveland Racquet Club
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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 Gold Key Media, and new sponsor Bradley Calkins of Spaceman Solutions. 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.
Stay tuned for the video recap of the event on this page. If you haven’t joined the newsletter, do so below to get an alert when the video goes up.
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
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.
