Richard D. Forman is currently the managing partner of Health Venture Group, LLC a private investment company focused on technology and consumer related health care investments. He is also a co-founder of Vitals.Com, one of the leading healthcare IT companies focused on transparency and cost-savings. Vitals has been funded with over $85 million including its most recent round led by Goldman Sachs. He has a history of investing in early stage companies and providing hands on efforts to grow these companies into sustainable entities with long term value for shareholders.
He is also an investor in other health care companies including Centrihealth (sold to UnitedHealthcare for more than $300 million) , Startup Health, Blueprint Health, Maxwell Health and Doctor.com.
Mr. Forman is a board member for Maimonides Medical Center (“MMC”), the leading treatment facility and academic medical center in Brooklyn, NY. MMC has approximately $1.2 billion in revenue; annually serves over 50,000 patient discharges, over 150,000 emergency room visits; and has over 1,000 staff physicians.
Previously, Mr. Forman was co-Founder, President and CEO of Register.com, Inc. (NASDAQ-RCOM) through June of 2003. During his tenure, Mr. Forman led the Company through explosive growth and change including
Grew revenue to over $115mm
Successfully completed three (3) acquisitions, including one cross-border EU based acquisition
Raised over $150mm through a series of private and public (IPO) offerings of preferred and common stock
Generated $100mm in cumulative operating cash flows and achieved 12 quarters of positive operating cash flow
Received the Ernst & Young Entrepreneur of the Year Award (Winner in 2002 and a Finalist in 2000)
In addition, Mr. Forman was instrumental in deregulating the domain name market. Mr. Forman assisted the industry and the Department of Commerce in delegating its internet responsibilities to the Internet Corporation for Assigned Names and Numbers (ICANN).
Also, Mr. Forman was a consultant with Booz & Company, the oldest and one of the leading international management consulting firms. At the firm, he worked out of the New York, NY and Sydney, Australia offices and consulted on systems, operations and strategy assignments.
Mr. Forman is a Cum Laude graduate of the University of Pennsylvania's Management and Technology Program where he earned a B.S. in Economics from the Wharton School and a B.S. in Electrical Engineering from the Moore School. He also obtained a Masters Degree from New York University's Real Estate Institute. Currently, he sits on the Board of Overseers for the School of Engineering at Penn.