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A successful CFO in both public and private companies. Experience includes healthcare IT and services, medical devices and pharmaceuticals ranging from pure start-ups to the revenue in hundreds of millions. Strong revenue and operational focus, capitalizes on the strategic opportunities in an organization. Builds successful teams and holds them accountable and gives them the credit they deserve. Hands on leader, who “checks his ego at the door" and does the right things to get the job done.Winner - NJBIZ CFO of the year - Public Company - 2015 KEY COMPETENCIES AND ACCOMPLISHMENTS#FUNDRAISING - Raised more than $150 million of capital from both private and public equity and debt sources. CUSTOMER ACQUISITION AND RETENTION - Lead executive on new $25 million account. Delivered more than $300 million of savings to the client, a return > 500%. UNIQUE ANALYTICAL FOCUS - Secured and retained more that $50 million of revenue by developing and implementing new pricing models which included significant risk and gain share.INTELLECTUAL PROPERTY - Resolved multiple patent matters in ways that were financially favorable to the Company.REGULATORY - Secured regulatory approval for a device already in the market.SYSTEM DEVELOPMENT - Led IT functions and delivered high service levels and reduced operating costs.ACQUISITIONS AND JOINT VENTURES - Participated in multiple acquisitions and JV arrangements. CPA licensed in New JerseySpecialties: #LifeSciences, #Healthcare, #ThirdPartyReimbursement,#PrivateEquity, #M&A, #VentureFinancing, #BusinessPlanning, #Forecasting, #accountancy, budgeting, business plans, business systems analysis, executive management, finance, financial, forecasting, #fundraising (private equity and public), inventory management, legal, IT, pricing, re-engineering, strategic, #taxplanning, capital raising,
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Chief Financial OfficerPrecisedxMahwah, Nj, Us -
Lead Independent Director And Audit Committee ChairTimber Pharmaceuticals May 2020 - May 2024Madison, New Jersey, UsTimber Pharmaceuticals is building an orphan dermatology organization that focuses on mitigating the cost, risk, and time of drug development by leveraging the Orphan Drug pathway for conditions with no FDA Approved treatments. The company’s investigational therapies have proven mechanisms-of-action backed by decades of clinical experience and well-established CMC (chemistry, manufacturing and control) and safety profiles. Timber is initially focused on developing non-systemic treatments for rare dermatologic diseases including congenital ichthyosis (CI), tuberous sclerosis complex (TSC), and localized scleroderma. -
Chief Financial OfficerVariantyx Jan 2022 - Jan 2024Framingham, Massachusetts, UsVariantyx is a technology-driven precision medicine company providing disruptive solutions to the genetic disorders, reproductive health, and precision oncology markets. Variantyx's whole genome analysis platform allows a better understanding of a person's genetic makeup, leading to unmatched diagnostic capabilities and improved personalized treatment recommendations. -
Chief Financial Officer9 Meters Biopharma, Inc. Jul 2019 - Jan 20229 Meters Biopharma is the new company formed from the merger of Innovate Biopharmaceuticals and RDD Pharma and NAIA Rare Diseases. I was the leader in that strategic transaction. Since the merger I was instrumental in:• Raising over $100 million of new capital;• Increasing institutional ownership in the shareholder base from 9% to more than 50%;• Increasing the market capitalization to allow us to join the Russell 2000;• Lead investor relations outreach with my deep relationships on the buy side and Wall Street;• Obtained coverage from eight (8) analysts and improving our financial profile so we are now served by "household name" Investment Banks.• Transitioned merger and corporate structure issues (e.g. mergers, dealing with securities from predecessor companies, managing new shareholder votes on amendments to our corporate structure); and • Developed and improving high level systems which resulted in the material weakness audit report being removed.
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Acting Chief Financial OfficerCaredox, Inc. Feb 2019 - Jun 2019Ramsey, Nj, UsWorked with Series C healthcare technology company in business model rationalization and acquisition integration -
Chief Financial OfficerAmmon Analytical Laboratory Apr 2017 - Nov 2018Linden, New Jersey, UsAmmon Labs is a leader in specialty testing for the drug treatment community. As a result of my efforts the value of the Company tripled. Significant accomplishments included:• Revenue increased 70% while specimen counts were flat;• Securing national and regional payer contracts• Implementing financial procedures (where none existed) and upgraded HR including implementing a budget/F,P&A function and establishing internal recruiting function• Accessing more than $6 million of financing to support the Company’s growth• Improved risk management function to obtain coverage for areas previously neglected -
Chief Financial OfficerCancer Genetics, Inc. Mar 2014 - Feb 2017Cherry Hill, Nj, UsCancer Genetics, Inc. is an emerging personalized medicine company with unique diagnostic technology that can help providers deliver precise treatments to patients with difficult to treat blood borne and urogenital cancers. I was the public facing CFO responsible for all finances including SEC reporting, IR, third party reimbursement and HR.• Led three acquisitions that quadrupled the size of the Company• Reorganized the third party billing and reimbursement functions to significantly improve long term reimbursement results• Refinanced the Company’s debt releasing onerous collateral requirements -
Cfo - New BusinessHealthagen, An Aetna Company Jan 2013 - Dec 2013Healthagen acquires, builds and supports new businesses that have unique technologies or capabilities that will transform healthcare. I am the financial executive responsible for leading the businesses out of the concept state to commercialization. My broad skills in finance, legal, intellectual property, operations and regulatory contribute to the success of these organizations.
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CfoActivehealth Management 2010 - 2012New York, Ny, UsActiveHealth, a subsidiary of Aetna ,is the market leader in clinical decision support systems. AHM's technology supports the transformation of current payer systems to ACO and PCMH models. As CFO I support the transformation of our customer businesses with responsibility for deal pricing in addition to accounting and other finance functions. During my tenure cost footprint was reduced by $30 million. -
Executive Vice President And Chief Financial OfficerCadent Holdings, Inc 2001 - 2011Lead US executive for venture backed high technology company. Recapitalized Company from Israel to Delaware. Developed and implemented tax plan to minimize US and international burden. Led fundraising for more than $120 million of financing that introduced new lead investors and lending sources. Lead legal and regulatory function and intimately involved in sales and marketing, operations and business plan development.
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CfoBioscrip (Formerly Mim Corp) 1998 - 2001Executive responsible for the financial affairs of a $600 million decentralized pharmacy benefit management, specialty pharmacy and e-commerce/fulfillment company. Key participant in all major decisions. Developed strategy for future development of business. Evaluated and negotiated with acquisition and merger candidates. Successfully negotiated Company’s first financing facility.
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Vice President - FinanceVital Signs, Inc 1996 - 1998Executive responsible for the financial affairs and business systems of a $140 million dollar publicly traded manufacturer and distributor of disposable medical products. Led re-engineering studies and implementation of changes of both the executive management and MIS areas of the company. Key team member in evaluation of acquisition and joint venture opportunities. Oversee the operations of non-local subsidiaries. Lead role in developing the Company's response to contracting with managed care and group purchasing organizations
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ControllerZenith/Goldline Pharmaceuticals, Inc 1993 - 1996Directed the financial affairs of a $500 million multisource pharmaceutical manufacturer and distributor. Responsible for accounting, tax, management information systems, inventory control, budgeting and forecasting. Managed a staff of thirty-five professionals. Interfaced directly with chief executive officer and chairman of the board of directors. Extensive involvement in operations at all the company's facilities (including seven manufacturing plants and four distribution locations). Directly involved in the acquisition of Zenith Laboratories
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Senior Manager, Emerging Business Service TeamPwc (Coopers & Lybrand) 1982 - 1993Led audits of various size organizations in the Healthcare, Consumer Product and Education industries
Ed Sitar Education Details
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University Of ScrantonAccounting -
Saint Joseph High School- Metuchen, NjCollege Preparation -
St Mary'S PlainfieldGeneral Studies
Frequently Asked Questions about Ed Sitar
What company does Ed Sitar work for?
Ed Sitar works for Precisedx
What is Ed Sitar's role at the current company?
Ed Sitar's current role is Chief Financial Officer.
What is Ed Sitar's email address?
Ed Sitar's email address is ed****@****gix.com
What is Ed Sitar's direct phone number?
Ed Sitar's direct phone number is +120152*****
What schools did Ed Sitar attend?
Ed Sitar attended University Of Scranton, Saint Joseph High School- Metuchen, Nj, St Mary's Plainfield.
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