Upon first glance, it would appear the trio of health care executives who started the life sciences private equity firm Blood, Sweat and Capital, are fans of jazz-rock stalwarts Blood, Sweat and Tears. But the story behind the firm’s whimsical name is actually much simpler. They held a contest among friends and colleagues last year and weren’t quite sure where they’d land.
“I think there’s something in a name, and our first news release attracted a ton of attention,” says Dan Lyons, one of the principals who grew up in Bucks County, practiced medicine at Reading Hospital, and currently sits on the Board of Trustees for the Temple University School of Medicine.
Equally attractive is BSC’s potential in the near future. With health care reform–in some measure–on the horizon and an increased focus on operations and cost-savings during the recession, BSC is steering clear of drugs and devices. Instead, the firm, which boasts 70 years of health care executive experience between its founders, will target start-ups specializing in health care service provisions and technology that supports health care reform.
“We think there’s a going to be a lot of companies coming forward that are going to make health care more efficient, personalize it and make it better,” says Lyons.
BSC will probably be headquartered in Fort Worth, TX, but because of the huge life sciences presence in Greater Philadelphia, Lyons expects a significant amount of activity for BCS in Pennsylvania. Already, about 25 percent of the business plans he’s reviewing are from the Keystone State. Lyons says BSC’s goal is to have close to dozen successful small- to mid-size companies in its portfolio by 2013.
Source: Dan Lyons, Blood, Sweat and Capital
Writer: Joe Petrucci