Blackstone Announces Appointment of Dr. Mark McClellan, Former Head of the FDA and CMS, as Senior Advisor
29 Mai 2020 - 5:56PM
Business Wire
Blackstone (NYSE:BX) today announced the appointment of Dr. Mark
McClellan (MD, PhD), a physician and economist who served as both
the commissioner of the U.S. Food and Drug Administration (FDA) and
administrator of the Centers for Medicare & Medicaid Services
(CMS), as a Senior Advisor.
Dr. McClellan will bring his expertise across the life sciences,
healthcare, economics and public policy sectors to advise across
the firm’s businesses, with a focus on Blackstone Growth (BXG) and
Blackstone Life Sciences (BXLS).
Jon Korngold, Global Head of Blackstone Growth (BXG), said: “Dr.
McClellan is a globally respected figure at the intersection of
healthcare and public policy. The current environment has only
underscored the importance of long-term investment in the
healthcare sector and we believe private capital can play a
critical role. As the only individual who has led both the FDA and
CMS, we look forward to the deep insights Dr. McClellan can provide
to our portfolio companies and investing teams.”
Nicholas Galakatos, Ph.D., Global Head of Blackstone Life
Sciences (BXLS), said: “Mark’s experience in the approval of
innovative pharmaceutical and medical technology products is a
terrific and complementary addition to the capabilities of
Blackstone Life Sciences. He will be an important resource for our
investment team, our product development partners, and our
portfolio companies as we advance breakthrough medicines and
medical technologies to the patients who need them.”
Dr. Mark McClellan added: “I’m pleased to be advising
Blackstone. This is a critical time for entrepreneurship in the
healthcare sector, and I’m looking forward to working with
Blackstone and their diverse partner companies to develop
innovative and efficient approaches to address unmet medical
needs.”
Ram Jagannath, Global Head of Healthcare for Blackstone Growth
(BXG), said: “We are thrilled to have Dr. McClellan work across the
firm in support of our portfolio companies and evaluating new
opportunities to invest in the healthcare sector.”
Last year, Blackstone launched a dedicated Growth Equity
investing platform, which is focused on providing capital to
companies seeking to manage the execution risks associated with
high-growth environments. In 2018, Blackstone launched Blackstone
Life Sciences by acquiring Clarus, a global life sciences
investment firm, which invests across the life-cycle of companies
and products in the life sciences sector. Blackstone Life Sciences
helps bring to market promising new medicines and technologies that
improve patients’ lives.
Dr. Mark McClellan, MD, PhD, is the Robert J. Margolis Professor
of Business, Medicine, and Health Policy, and founding Director of
the Duke-Margolis Center for Health Policy at Duke University. With
a highly distinguished record in public service and academic
research, Dr. McClellan is a former administrator of the Centers
for Medicare & Medicaid Services (2004-06) and former
commissioner of the U.S. Food and Drug Administration (2002-04),
where he developed and implemented major reforms in health policy.
Dr. McClellan has also served as a member of the President’s
Council of Economic Advisors and as Deputy Assistant Secretary of
the Treasury for Economic Policy. He received his BA from the
University of Texas, MD from Harvard Medical School, MPA from the
Harvard Kennedy School of Government, and a PhD in Economics from
the Massachusetts Institute of Technology.
About Blackstone
Blackstone is one of the world’s leading investment firms. We
seek to create positive economic impact and long-term value for our
investors, the companies we invest in, and the communities in which
we work. We do this by using extraordinary people and flexible
capital to help companies solve problems. Our asset management
businesses, with $538 billion in assets under management, include
investment vehicles focused on private equity, real estate, public
debt and equity, growth equity, opportunistic, non-investment grade
credit, real assets and secondary funds, all on a global basis.
Further information is available at www.blackstone.com. Follow
Blackstone on Twitter @Blackstone.
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Matt Anderson Matthew.Anderson@Blackstone.com +212-390-2472
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