Strengthening Business for Growth
Mark Shaffar has spent the majority of career in healthcare focused in the areas of patent licensing, technology assessment, acquisitions, divestitures, negotiations, and mergers. He began his career with Abbott Laboratories in R&D where he rose to the level of divisional Vice President. Over 37 years Mark’s efforts resulted in over 5 major diagnostic division (IVD) acquisitions and more than $2B in expenditures for Abbott. He also successfully executed six divestitures resulting in over $0.5B in income to Abbott and was involved in hundreds of patent licensing transactions many of which involved international buyers/licensees.
Through his career Mark acquired the skills needed for value creation for the IVD business and optimized the product portfolio by buying new businesses and divesting older products. Once identifying assets that were no longer strategically important and ready for divestiture, he learned how find buyers and to exit the slower growth businesses gracefully by detangling the products from the remaining organization and customer base. Mark also created an out-licensing practice that resulted in many of the Abbott IVD patents being optimized for value.
For the last 6 years Mark has worked in the capacity of special advisor to private equity and venture capitalists for potential equity investments in early and mid-stage development companies. Mark’s skills in the area of value creation through technology assessment, business strategy development and due diligence aid him in assessing the competitive advantages of such new businesses and their distinctive competencies while understanding and addressing the risks and gaps in resources and assets that may impede success. He enjoys the processes of evaluating new opportunities and determining how these opportunities can be efficiently expanded to commercial successes.
Mark holds a Master of Management; Major in Management Policy, Finance with distinction from Northwestern University-Kellogg Graduate School of Management and a Bachelor of Science; Major in Biochemistry from University of Wisconsin-Madison. Mark served on the Board of Directors of Biocartis (Euronext: BCART) where he was an independent director and a member of the audit committee and REMCO. He also served as the Chairman of the Board of MDxHealth (Euronext: MDXH) where he was an independent director and a member of REMCO. He previously served as Chairman of the Board of Directors of Mycartis, a private IVD firm.