NEW YORK, June 28, 2016 /PRNewswire/ -- Clayton, Dubilier & Rice today announced the appointment of Nitin Sahney, former President and Chief Executive Officer of Omnicare, Inc., as an Operating Advisor to CD&R's funds.
Under Mr. Sahney's leadership, Omnicare implemented a complex growth plan and dramatically improved operating efficiency, culminating in the $12.7 billion sale of the company to CVS Health Corporation in 2015. At the time of sale, Omnicare had 13,000 employees, 160 U.S. locations and over $800 million of EBITDA. Prior to assuming Omnicare's CEO position, he held several senior leadership roles, including Chief Operating Officer and Executive Vice President and President of the Specialty Care Group.
"Nitin is a great business leader who has an outstanding record of building and transforming the businesses he has led," said CD&R Partner Rick Schnall. "He brings valuable perspective and experience to our growing healthcare investing activities."
CD&R has successfully invested in a number of healthcare companies which are positioned to benefit from the increased emphasis on reducing the cost of healthcare delivery and improving patient outcomes, including AssuraMed, a distributor of specialty medical products sold to Cardinal Health in March 2013; Envision Healthcare, a provider of facility-based outsourced physician and medical transportation services, which went public on the NYSE in 2013; Healogics, the largest outsourced wound care service provider in the U.S.; PharMEDium, a provider of hospital pharmacy-outsourced sterile compounding services sold to AmerisourceBergen in 2015; and Vets First Choice, a provider of cloud-based prescription management and pharmacy services for veterinary practitioners.
"I'm very pleased to be associated with CD&R," said Nitin Sahney. "This is a firm with strong values, a commitment to operational excellence and a very strong investment record in a number of industry sectors, including healthcare."
In 2001, Mr. Sahney founded RxCrossroads, an innovative healthcare start-up he built into a leading outsourced specialty services company serving both the biotech and pharmaceutical industries. RxCrossroads was sold to Omnicare in 2005. Prior to RxCrossroads, Nitin spent nine years in senior leadership positions at Cardinal Health, where he became the company's youngest general manager. From 2007 to 2010, he managed a personal healthcare investment fund.
He is an Independent Director of Exlservice Holdings, Inc. Mr. Sahney graduated with a Bachelor of Arts in Economics from Punjab University and a Master of Business Administration from Clarion University.
About Clayton, Dubilier & Rice
Founded in 1978, Clayton, Dubilier & Rice is a private investment firm with an investment strategy predicated on producing financial returns through building stronger, more profitable businesses. Since inception, CD&R has managed the investment of $21 billion in 66 businesses representing a broad range of industries with an aggregate transaction value of approximately $100 billion. The Firm has offices in New York and London. For more information, visit www.cdr-inc.com.
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