According to INC42, Jim Tananbaum is a renowned investment strategist,entrepreneur, and the founder and CEO of Foresite Capital, which deals with financing emerging healthcare leaders. Other than offering financial boosts, the firm also provides analytics and information to the healthcare leaders enabling them to gain productivity and reach high growth echelons. Before founding Foresite Capital, JIM had co-founded two pharmaceutical firms and two healthcare investments, which were the leading regarding sound management and returns.
In a report by Biz Journals, Jim’s pharmaceutical company, NASQAD, came up with two new drugs, which were sold for less than $80 million. Jim’s dream has been to offer affordable Medicare and to assist healthcare agencies to achieve their objectives by providing capital at subsidized rates. In 1998, NASQAD was purchased for $1.6 billion, which gave him the capital to launch other initiatives. At the time of sale, the firm’s drug, Ranzela, had a return rate of over $200 million, and its revenue return rate today is above $2 billion.
Jim Tananbaum says that the idea of launching ForeSite Capital came to him more than 25 years ago when he realized that the future of healthcare companies was becoming bright. The decision came after he used his experience as an investment strategist and an entrepreneur. He realized that investing in healthcare agencies would pay better as the world advances to the provision of better health services.
Since innovative healthcare products require more time and capital, Jim Tananbaum saw it necessary to start investing in healthcare as many investors failed to realize that the long-term benefits from this kind of investment are worth the initial amount invested. Foresight collects all published information about what the future holds and feeds the healthcare companies with it to produce innovative products. Currently, Foresite Capital has invested in more than 78 health care companies. The companies get frequent funding when launching products, which have assisted them to reach the global market.
Jim says that science is the motivating factor behind his ideas and investments. He says that the way entrepreneurs dedicate themselves to curbing issues around healthcare make him more committed to continue investing in their ideas. He says that even if one is healthy today, at some point in future he will need some health attention, which makes the number seeking healthcare services to increase daily.