The Paragon Team
Jim Palazzo is the founder and president of Paragon Health Capital.
Jim has worked in the healthcare industry for nearly 30 years. As a physician group administrator, he developed a deep understanding of the unique factors that lead to organizational success including: effective governance, strategic positioning, developing measurable clinical excellence, operational efficiencies, IT management, revenue cycle management, contracting, recruiting, and staffing. He also participated on the senior leadership team of a hospital reporting to the CEO. His leadership and management experience with both physician practices and hospitals has allowed him to facilitate successful partnerships between the two. Jim has long been involved in advocacy – offering leadership to professional associations, speaking at national and regional meetings, and monitoring and supporting state and federal legislative activities.
He founded a hospital/physician consulting, transaction, and interim management firm starting in 2007 – and ultimately sold the business to a nationally recognized publicly traded healthcare consulting firm in 2011 – where he worked post-acquisition in a national senior leadership position. While leading various national healthcare consulting enterprises, he came to experience many different markets across the United States working with doctors, hospitals, systems, payers, and government. His primary focus over the years has been in support of optimizing and bringing greater value to physician practices.
Paragon Health Capital was founded to offer investment banking and business brokerage services focused on the physician practice, in addition to offering more traditional transaction and provider consulting services. Paragon takes great care in matching physician practices with the right kind of optimal outcome for practice owners, primarily with private equity firms through management recapitalization.
Joe Cacchione, M.D.
Joseph Cacchione, MD, FACC, has been named President of Ascension Medical Group, the national provider organization of Ascension, the largest non-profit health system in the U.S. and the world’s largest Catholic health system.
Ascension Medical Group is a physician-led national provider network focused on furthering the advancement of the Quadruple Aim – exceptional health outcomes, exceptional patient experience, and an exceptional experience for providers at an affordable cost. Ascension Medical Group includes 6,500 employed providers, spanning 16 states and the District of Columbia, and is one of the leading networks in the country.
Dr. Cacchione joins Ascension Medical Group from the Cleveland Clinic, where he has served as Chairman of Operations and Strategy for the Clinic’s Heart & Vascular Institute since 2011. In this capacity, he helped build a high-performing specialty network of providers around the country and directed the onboarding of physicians moving from independent practices to a private physician model.
Prior to joining the Cleveland Clinic in 2009, Dr. Cacchione served as Executive Vice President, Chief of Quality & Operations, at Saint Vincent Health System in Erie, Pennsylvania, from 2004 to 2009. In this role he oversaw the development of a number of service lines, including orthopedics, oncology, neuroscience and cardiovascular.
“We are tremendously pleased to have a physician executive of Dr. Cacchione’s skills and abilities join our ministry,” said Robert J. Henkel, FACHE, President and Chief Executive Officer, Ascension Healthcare, and Executive Vice President, Ascension. “He brings proven leadership in aligning physicians and building provider communities that support the needs of patients and caregivers.”
Board certified in Internal Medicine, Cardiology and Interventional Cardiology, Dr. Cacchione received his medical degree from the Drexel University College of Medicine in Philadelphia, and his undergraduate degree from Gannon University in Erie. He is a member of the Board of Trustees of the American College of Cardiology.
Mr. Hendrie is a Managing Director and founder of Expedition Capital Partners, an independent private equity sponsor focused on pursuing leveraged buyouts in partnership with operating executives. Mr. Hendrie has completed 23 acquisitions across three platform portfolio companies since launching ECP six years ago and has developed strong working relationships with numerous private equity firms. Before founding ECP, Mr. Hendrie worked at Code Hennessy & Simmons, a private equity firm with $2.5 billion under management and in the Industrials Group within the Investment Banking Division at Goldman Sachs in New York. He has an MBA from the Ross School of Business at the University of Michigan and a BSE in Chemical Engineering, also from the University of Michigan.
Mr. Ben Dunford serves as Chief Operating Officer of NorthStar Anesthesia P.A. Mr. Dunford has been Chief Financial Officer of Sunnyvale at Texas Regional Medical Center LLC , since December 1, 2011. Mr. Dunford was a leader in the Dallas office at Bain & Co.
He has experience in finance, strategy and operations, including organizational effectiveness, process redesign, profit improvement, real estate, information systems and customer loyalty. He has led teams assisting Fortune 500 clients in health care, technology and real estate, as well as major non-profit organizations. He also worked for Goldman Sachs, where he oversaw more than $1 billion in private financial investments in health care and hospitality. He received master’s degree in business administration from The Wharton School at the University of Pennsylvania and bachelor’s degree from Brigham Young University.
Managing Principal | Dermatology Division
Dan has established himself as a comprehensive authority in dermatology acquisitions. He has worked for three of the largest dermatology platforms in the nation, as Director of Strategic Initiatives and Executive Vice President. In January 2014, he founded Dermatology Practice Consultants, Inc., a leader in private equity/investment banking consulting within the Dermatology space. There he provided consulting services to private equity firms seeking to purchase dermatology practices AND privately held dermatology practices seeking to better prepare for sale to larger platforms.
With this unique combination of experience, Dan was able to provide strategic advice on missed revenue opportunities, create the investment thesis for private equity board of directors, oversee final due diligence in the purchase of practices, and establish internal valuations (how much the practice is worth to the private equity firm POST acquisition) of physician owned dermatology practices.
Dan has unmatched experience in representing:
• Dermatology practices selling to larger dermatology platforms.
• Regional dermatology platforms selling to private equity backed firms.
• Dermatology platforms (both national and regional) buying independent dermatology practices.
• Private equity firms buying regional physician owned dermatology platforms.
Paragon Health Capital represents the physician owners in the sale of their dermatology practice. Paragon protects the short and long term interests of the physician owners via extensive knowledge of the transaction process, including the value to the platforms (the buyer of the practice) post acquisition. Paragon truly understands the unknown key attributes of underlying value drivers of the private equity’s financial interests.
James Savage is the SVP General Manager of Pierpont Communications in Dallas, Texas, where he leads a growing team dedicated to the communications needs of local, regional and global clients. He joined Pierpont after successfully leading the corporate practice of Edelman, where he contributed to the brand and reputation success of national and global clients such as Symantec, British Telecom, BNY Mellon, Forest Park Medical Center, Entrust, International Association of Events and Exhibitions and the Wi-Fi Alliance.
Throughout his career, James has filled various senior leadership roles at Western Financial Group Federal Reserve Bank of Cleveland and Philips Electronics. James founded RainCoast Group, a Dallas-based global tech sector communications and marketing consultancy, and led groups with GTE Corporation (now Verizon), the Pacific Telecommunications Council, and the Canadian Federal Department of Communications (Industry Canada).
James has an M.Sc. from the London School of Economics (LSE) and a BA from the University of British Columbia, Canada. A leader in the communications community, he serves as a Commissioner with the Institute for Public Relations and has been a member of the Board of the Canadian PR Society (Toronto) and the Convergence Council of the S. I. Newhouse School of Communications (Syracuse University).
Barry L. Coletti
Barry L. Coletti joins Paragon Health Capital with 33 years’ experience in the healthcare sector. Barry initially began his healthcare career as a Licensed and Board-Certified provider where he successfully championed inpatient clinical teams for five years. With reimbursement changes to ambulatory settings, Barry led and implemented Laurelwood Hospital’s first ambulatory center from design through services offered. After successful start-up of this center, Barry became the Regional Ambulatory Director for all (4) of Laurelwood Hospital’s ambulatory centers.
Continued reimbursement changes in healthcare transformed patient services, as well as Barry transitioning into Executive Director/Chief Operation Officer roles for 28 years leading primary care, multi-specialty care and Cardiology practices within integrated delivery systems for large healthcare systems, owned and operated physician corporations. In a dyad management structure with Chief Medical Officers, Barry and physician leaders developed and implemented successful multi-disciplinary teams comprised of physicians, nursing and administrative staff which resulted in accomplishing performance improvements as demonstrated by efficiency and effective measurement outcomes.
Barry is known for his systemic management knowledge, training and style. He consistently demonstrates his expertise in developing teams and cultures that foster trust, collaboration, cooperation and consistent communication.
The capstone plan for Barry’s career in healthcare began and continues by joining an international consulting firm in the Physician Enterprise Solutions Division in 2013. While there, Barry spent a significant amount of his time in Interim Executive positions for the firm’s clients. He also functioned as a Project Director by assessing strategic and operational areas of physician corporations, collaborating with clients to develop performance improvement plans and leading teams in the implementation process.
During his time in Healthcare Consulting, Barry’s was the Interim Chief Executive Officer for an Integrated Physician Network in a multi-state, 17-hospital system comprised of 25 practices and 46 locations. Barry, the Chief Medical Officer and the employee teams transformed their culture and services by addressing significant customer service concerns, resulting in performance improvements in multiple operational and strategic areas. During this interim tenure, Barry assisted the client organization in finding and hiring a permanent Chief Executive Officer.
Barry was also an Interim Chief Operations Officer for a primary and multi-specialty practice with 30 locations across the state of New York. After 13 months in this role, Barry assisted the client in the search, hiring and orienting for a permanent Chief Operations Officer.
Barry has both a Clinical and Business (MBA) formal education, and is a Green Belt in both Lean Sigma and Six Sigma performance improvement. Barry earned a MBA in Operations Management from Baldwin Wallace University, a Master of Arts in Human Services from John Carroll University and a Bachelor of Arts in Psychology from Kent State University. He earned his Green Belt in both Lean Sigma and Six Sigma performance improvement methodology and management from Villanova University.
Barry is a Director at Paragon Health Capital.