Michael Petit

Michael Petit Email and Phone Number

Chief Financial Officer, Novocardia @ Novocardia
Michael Petit's Location
Greater Boston, United States, United States
Michael Petit's Contact Details
About Michael Petit

Healthcare CFO with a strategic mindset and the ability to scale financial/operational infrastructure during periods of significant growth. Completed five successful sale transactions (4 exits as the lead financial executive and 1 in a supporting role). Extensive experience in both Private Equity backed multi-site healthcare service firms and large public companies. Specific areas of experience include Health Insurance Plans, Home-Health, Skilled Nursing, Ophthalmology, Optometry, Ambulatory Surgical Centers, Dermatology, Urgent Care, Telemedicine, and Clinical Laboratories. Additional areas of expertise include: • Significant acquisition experience - sourcing, LOI, financial diligence, deal closure and integration • Payer negotiations, development of value proposition, and movement to value based care • Strategic planning, market research, and complex analytics • Financial infrastructure build (platform development and creating the ability to scale aggressively) • Purchase/transaction accounting • Revenue cycle management (RCM) improvement

Michael Petit's Current Company Details
Novocardia

Novocardia

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Chief Financial Officer, Novocardia
Michael Petit Work Experience Details
  • Novocardia
    Chief Financial Officer
    Novocardia Dec 2021 - Present
    New York, New York, Us
    Chief Financial Officer for the first PE-backed Cardiology platform in the nation. A truly innovative business working to transform the delivery of healthcare through value-based care (VBC). Highly acquisitive with a particular focus on deploying new lines of service and building ambulatory surgical centers (ASCs) in multiple markets.
  • Convenientmd Urgent Care
    Chief Financial Officer
    Convenientmd Urgent Care Jul 2020 - Dec 2021
    Portsmouth, Nh, Us
    Chief Financial Officer for the Northeast's premier Urgent Care group. Focused on aggressive growth through de novos, acquisitions, and new lines of service (Telemedicine, highly complex lab, and offsite programs). Completed a successful exit for the business to Bain Capital in June-2021 (Boston-based private equity firm).
  • Apderm
    Chief Financial Officer
    Apderm Jun 2018 - Jun 2020
    Acton, Massachusetts, Us
    Chief Financial Officer for the Northeast's largest private equity backed Dermatology practice, focused on aggressive growth through acquisitions and de novos across five states
  • Claris Vision
    Chief Financial Officer
    Claris Vision Jan 2017 - Jun 2018
    Chief Financial Officer for a private equity backed Ophthalmology & Optometry business with wholly owned Ambulatory Surgical Centers (ASC's) in multiple states. Focused on aggressive growth through acquisition in the New England market and completed a successful sale process for the business in December-2017.
  • Independent
    Interim Cfo
    Independent Jun 2015 - Dec 2016
    Provided interim CFO services to a large Ophthalmology group. Prepared and executed a successful restructuring plan, preparing the business for future growth.
  • Aetna, A Cvs Health Company
    Vice President, Finance
    Aetna, A Cvs Health Company Jan 2010 - May 2015
    Hartford, Connecticut, Us
    •Built key performance indicators for 10 different product lines that delivered tremendous insight into business operations. •Developed pricing strategies to support all product offerings.•Partnered with sales leadership to create proposals for new business.•Conducted analysis into the company’s cost structure.•Developed highly accurate Budgets and Forecasts.
  • Aetna, A Cvs Health Company
    Director Of Finance
    Aetna, A Cvs Health Company Sep 2006 - Jan 2010
    Hartford, Connecticut, Us
    General Responsibilities:•Responsible for all aspects of the annual budget process, supporting a $750 Million Business Unit.•Oversee the finance department for a $250 Million division that operates in all 50 states.•Key contributor to the strategic planning process.•Review and approve financial forecasts before submission to Corporate.Accomplishments:•Worked closely with the management team to re-vamp the planning process in order to focus on productivity improvements and cost reductions. This resulted in $21.2M of annualized savings for a group of product lines with $250M of annual revenue ($12.0M in 2007 & $9.2M in 2008).•Completely redesigned the bonus and commission structure to better align with company financial objectives.•Completely re-engineered the reports being generated by finance to focus on the most important business drivers in the organization (key metrics).
  • Aetna, A Cvs Health Company
    Sr. Finance Manager
    Aetna, A Cvs Health Company Jan 2005 - Sep 2006
    Hartford, Connecticut, Us
    •Managed the development of annual budgets, monthly forecasts, and ad-hoc analysis.•Initiated the creation of a centralized data warehouse to capture and refine commonly used data. This resulted in both faster and more accurate ad-hoc/metric reporting.•Completely re-engineered the reports being generated by finance to focus on the most important business drivers in the organization (key metrics).
  • Bae Systems
    Program Controller
    Bae Systems Apr 2002 - Dec 2004
    London, Gb
    •Integrated numerous newly acquired companies, absorbing the additional work with existing staff. •Evaluated numerous acquisition targets (company acquisition values ranging from $5 Million to $1.3 Billion). This included deep analysis into the makeup of expenses, verification of asset values, and calculation of the acquisition’s overall return on investment. •Led the annual budget process, and consolidated the financial statements from six operating units
  • Bae Systems
    Finance Manager
    Bae Systems Apr 2001 - Mar 2002
    London, Gb
    •Led the annual budget process, and consolidated the financial statements from six operating units valued at over $2.0 Billion.•Oversaw the consolidation of financial statements.•Analyzed and conducted due diligence in support of numerous acquisitions.•Prepared internal business plans to support the sale / spin-out of 3 product lines.
  • Bae Systems
    Sr. Financial Analyst
    Bae Systems Apr 2000 - Mar 2001
    London, Gb
    •Developed program budgets and analyzed weekly/monthly performance against plan.•Prepared financial proposals for new business, ensuring adequate coverage of risks.•Completed variance analysis and earned value reporting for $50M worth of projects.
  • Bae Systems
    Contract Negotiator
    Bae Systems Jul 1996 - Mar 2000
    London, Gb
    •Negotiated a broad range of multi-million dollar contracts with international, commercial, and Government clients.•Dealt with complex issues involving international sales such as the loss of highly sensitive, export-controlled equipment during shipment to the Republic of China.•Developed strong communication skills (both verbal & written) while dealing with sensitive customer issues on a daily basis.

Michael Petit Skills

Forecasting Financial Modeling Insurance Budgets Process Improvement Strategic Planning Financial Analysis Financial Reporting Workers Compensation Management Risk Management Managerial Finance Sarbanes Oxley Act Leadership Analysis Finance Accounting Pricing Strategy Acquisitions Peoplesoft Executive Management

Michael Petit Education Details

  • Bentley University
    Bentley University
    Management
  • University Of Massachusetts Lowell
    University Of Massachusetts Lowell
    Accounting

Frequently Asked Questions about Michael Petit

What company does Michael Petit work for?

Michael Petit works for Novocardia

What is Michael Petit's role at the current company?

Michael Petit's current role is Chief Financial Officer, Novocardia.

What is Michael Petit's email address?

Michael Petit's email address is mp****@****tmd.com

What is Michael Petit's direct phone number?

Michael Petit's direct phone number is +1.301.581*****

What schools did Michael Petit attend?

Michael Petit attended Bentley University, University Of Massachusetts Lowell.

What skills is Michael Petit known for?

Michael Petit has skills like Forecasting, Financial Modeling, Insurance, Budgets, Process Improvement, Strategic Planning, Financial Analysis, Financial Reporting, Workers Compensation, Management, Risk Management, Managerial Finance.

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