- Finance leaders of traditional healthcare providers may have opportunities to pursue positions with private equity firms.
- Firms can use finance leaders who understand complex payment systems and the operating environment of a healthcare organization.
- Candidates to move from hospital finance to private equity should be prepared to work in a nimbler environment where change happens quickly.
Dave Fielding doesn’t have the typical healthcare CFO’s resume. After his first role in finance, at a software company, he moved to biotech and then to a generalist private equity firm, Cerberus Capital Management. As vice president of finance from 2008 to 2010, he worked with companies in several industries, learning “how to boil down a business into its basic components,” he says.
In 2010, Cerberus acquired Caritas Christi Health Care in Boston and converted it from a not-for-profit system to a for-profit accountable care organization called Steward Health Care. Fielding became Steward’s vice president of finance, a role he served in for four years. Then, in 2014, he became the first CFO at Iora Health, a startup that manages primary care practices and signs value-based contracts with Medicare Advantage plans, as the company was kicking off its campaign for Series C funding.