Financial

Former Cleveland Clinic CEO Toby Cosgrove, MD, Joins InnovaHealth Partners as Senior Advisor

NEW YORK, Nov. 20, 2019 (GLOBE NEWSWIRE) — Former Cleveland Clinic CEO, Delos M. “Toby” Cosgrove, MD, has joined InnovaHealth Partners (“InnovaHealth”) as Senior Advisor.

Dr. Cosgrove was the Cleveland Clinic’s CEO and President from 2004 to May 2017 and now serves as an Executive Advisor, working on growth strategies with the Cleveland Clinic’s leadership. As CEO and President of the Cleveland Clinic, he focused on improving patient experience and medical outcomes, reorganizing services and strengthening the organization’s finances.

Mortimer (“Tim”) Berkowitz III, InnovaHealth President and Chief Executive Officer, said, “We are very pleased to welcome Toby to the InnovaHealth team. As a pioneering surgeon, medical technology innovator and exceptional healthcare leader, Toby shares our strategic vision of expanding market access for innovative medical technologies that meet large unmet clinical needs. His broad global reach and experience will augment our investment pipeline, ability to add value to our portfolio companies and further cement our strategic relationships in the medical technology industry.”

After serving as a surgeon in the U.S. Air Force, Dr. Cosgrove joined the Cleveland Clinic in 1975 and was named Chairman of the Department of Thoracic and Cardiovascular surgery in 1989. As a recognized cardiothoracic surgeon, Dr. Cosgrove performed more than 22,000 operations before retiring from surgery in 2006 and has earned an international reputation for his expertise in valve repair. Dr. Cosgrove was the first surgeon to complete a minimally invasive mitral-valve surgery in 1996 and holds 30 patents for medical innovations.

Dr. Cosgrove is a member of the National Academy of Medicine, and a Fellow of the National Academy of Inventors. In 2016, he was a Fortune Businessperson of the Year (No. 14). In 2018, he became an advisor to the Google Cloud healthcare and life sciences team. Three successive presidents of the United States have consulted him on healthcare issues.

Dr. Cosgrove commented, “I am very pleased to be joining the InnovaHealth team. This is a uniquely qualified private equity firm investing in proven medical technologies that advance clinical outcomes, simplify surgeries and lower the costs of healthcare delivery. This is a much-needed activity in the healthcare world and the InnovaHealth investing approach is a win-win for patients, clinicians and investors alike.”

About InnovaHealth Partners
New York based InnovaHealth Partners, LP is the leading specialist medical technology growth private equity firm. The InnovaHealth team manages approximately $200 million and has over 100 years of experience investing in the global medical technology market.

CONTACT:
Tiffany Cheynier, Manager, Investor Relations
InnovaHealth Partners, LP
T: 1.212.652.3550
F: 1.212.652.3544
E: tc@innovahp.com  
W: www.innovahp.com

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Drue De Angelis

Drue is Managing Partner for The De Angelis Group, Executive Search firm exclusively for the Ortho & Spine industry.

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