University of Pennsylvania - Management and Technology (M&T) Alumni Community

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Last updated 6 days ago

Richard Forman

Richard D. Forman is currently the managing partner of Health Venture Group, LLC a private investment company focused on technology and consumer related health care investments. In that role he has founded, invested in and/or consulted to ExpertConsensus, LLCVitals.com, Centrihealth, Healthination and Finpago.

He also serves as a board member and chair of the Information Technology Committee for Maimonides Medical Center (“MMC”), the leading treatment facility and academic medical center in Brooklyn, NY. MMC has over $800 million in revenue; annually serves over 40,000 patient discharges, over 100,000 emergency room visits; and has over 1,000 staff physicians.

Previously, Mr. Forman was co-Founder, President and CEO of Register.com, Inc. (NASDAQ-RCOM) through June of 2003. During his tenure, Mr. Forman led the Company through explosive growth and change including

Grew revenue to over $115mm
Successfully completed three (3) acquisitions, including one cross-border EU based acquisition
Raised over $150mm through a series of private and public (IPO) offerings of preferred and common stock
Generated $100mm in cumulative operating cash flows and achieved 12 quarters of positive operating cash flow
Received the Ernst & Young Entrepreneur of the Year Award (Winner in 2002 and a Finalist in 2000)

In addition, Mr. Forman was instrumental in deregulating the domain name market. Mr. Forman assisted the industry and the Department of Commerce in delegating its internet responsibilities to the Internet Corporation for Assigned Names and Numbers (ICANN).

Prior to this, he was President of Bridge Associates and a manager at Ben Forman & Sons, Inc. Both companies were manufacturers of tabletop and giftware items. Mr. Forman was responsible for day-to-day operations and headed up the acquisition of Taunton Silversmiths, Inc., a $2 million consumer products manufacturer.

Also, Mr. Forman was a consultant with Booz & Company, the oldest and one of the leading international management consulting firms. At the firm, he worked out of the New York, NY and Sydney, Australia offices and consulted on systems, operations and strategy assignments.

Mr. Forman is a Cum Laude graduate of the University of Pennsylvania's Management and Technology Program where he earned a B.S. in Economics from the Wharton School and a B.S. in Electrical Engineering from the Moore School. He also obtained a Masters Degree from New York University's Real Estate Institute. Currently, he sits on the Board of Overseers for the School of Engineering at Penn and is the Chairman of the Dean’s New York Advisory Council.

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