Dr. Albert Waxman founded Psilos Group, a healthcare-focused venture and growth equity fund, after a lengthy career as a healthcare entrepreneur. Today he serves as Senior Managing Member and CEO of the fund. As a serial entrepreneur, Dr. Waxman recognized the need for the value-added investor--one who understands and can impact all facets of growing company development from strategy and operations to financial and business development.
Through his activities at Psilos, Dr. Waxman is chairman and/or a director of several Psilos companies including: Gamma Medica, HealthEdge, and SeeChange Health. He is also on the Board of Cenegenics (a non-Psilos investment). He focuses much of his time on building relationships among Psilos companies and leading Psilos' overall investment strategy.
Prior to founding Psilos, Dr. Waxman spent nine years as Chairman and Chief Executive Officer of Merit Behavioral Care and its predecessor companies, American Biodyne and Medco Behavioral Care. During this period, he brought American Biodyne public, led its sale to Medco Containment Services (later acquired by Merck), organized a management buyout of it from Merck with KKR, and grew the company's revenues to over $800 million. Merit Behavioral Care was acquired by Magellan Health Services in February 1998.
Prior to American Biodyne, Dr. Waxman founded and served as President, Chairman and CEO of Diasonics, Inc., one of the first medical companies to provide ultrasound and magnetic resonance imaging in the U.S. Dr. Waxman holds several U.S. and foreign patents for display, imaging and diagnostic technologies and products. He has also been instrumental in the start-up and success of several other healthcare companies throughout his career in both the health services and medical device sectors.
Dr. Waxman holds a Bachelor of Science degree in Electrical Engineering from the City College of New York and Master and Doctoral degrees in Electrical Engineering and Physics from Princeton University.
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Al Waxman discusses why investing in healthcare innovation is imperative for effective healthcare reform.