Jim Tananbaum is no stranger to starting a successful business and knows his way around the healthcare market. As founder and CEO of Foresite Capital, Tananbaum has set out on a mission to identify talent in healthcare and seek ways to help those businesses succeed in any given economic climate, allowing for their profitability to expand and their mission to provide medical care options and medications to continue.
Tananbaum comes to investing with a background in healthcare. As a co-founder of GelTecl Pharmaceuticals, Tananbaum helped guide the company to become a successful business built on the need for medication and eventually was able to sell the company for $1.6 billion in the late ’90s. An understanding of business obtained there helped Tananbaum become effective in the world of investing when he became a founding partner of Prospect Venture Partners. With an understanding of disparate industries, Tananbaum has been able to create an investment platform that understands the conservative pace of healthcare as a business and how that puts more responsibility on investors to seek talent. For more details visit LinkedIn.
Tananbaum has stated that a certain vigilance is essential for those looking to invest in healthcare. Identifying leaders in this field requires an understanding of the scientific process that leads to medical innovations and how that is the key to realizing believable ambitions in business. Tananbaum, who makes a continuous effort to remain abreast of medical advancements, can communicate with these lead researchers and their representatives in a language that doesn’t create barriers between investor and business.
Finding such talent and leadership, Tananbaum admits, isn’t always easy to do. Few in investment understand the need for time develop, and fewer still know how to work with such a requirement and reach profitability. Tananbaum urges those in the healthcare industry to consider turning some of their efforts towards entrepreneurship, as there’s a lack in the industry, meaning investors are largely receptive to those open to making first contact. Those willing to believe in themselves may find a receptive audience.
About Jim Tananbaum:
Jim Tananbaum graduated from Harvard and the Massachusetts Institute of Technology, giving him the background and professional network needed to co-found GelTex Pharmaceuticals, a biomedical company that went on to be acquired for $1.6 billion.
Having spent time as an investor and with experience in the healthcare field, Tananbaum went on to found Foresite Capital, an investment firm that identifies and develops healthcare businesses in need of investment.
Check out his website officialjimtananbaum.com