James S. Vaughan
James S. Vaughan
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Summary
Four decades of investment banking experience with 20 years at large firms and the last 20 years at Cain Brothers, a boutique firm focused on health care services. Responsibilities at Cain Brothers include researching and writing white papers that integrate health care policy and reimbursement with the practical aspects of conducting profitable businesses, editing newsletters, and managing the firm’s website content. Transaction experience at Cain Brothers includes mergers, acquisitions, and joint venture partnerships involving both not-for-profit and for-profit providers and payers. Large-firm transaction experience includes IPOs, mergers and acquisitions, secured and unsecured debt financings, including debt with accompanying equity features, U.S. government guaranteed debt financings, mortgage-backed bonds, collateralized mortgage obligations, and the sale of packages of residential and commercial whole loans and credit card debt.
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Experience
Managing Director and Shareholder, Cain Brothers & Company, LLC, NY, NY
1995 –2014
Responsible for writing the firm’s publicly offered intellectual content through white papers that examine the intersections of health care policy changes and managing profitable businesses, editing newsletters, and maintaining the website content at www.cainbrothers.com. Client engagements include merger, acquisition, joint venture, and strategic advisory services in the provider and payer sectors.
Vice President, Smith Barney Inc., NY, NY
1992 – 1995
Expanded the firm’s participation in Resolution Trust Corporation business and developed and executed transactions for thrift, bank, and finance company clients.
Vice President, Secured Capital Corp., Boston, MA and Los Angeles, CA
1990 – 1992
Initiated new business development capability in the commercial real estate mortgage secondary market for this start-up firm.
First Vice President, Drexel Burnham Lambert Inc., NY, NY
1985 – 1990
Manager of residential whole loan trading desk. Manager of Structured Products Group, responsible for securitization of mortgage assets.
Vice President, Merrill Lynch & Co., NY, NY
1982 – 1985
Responsible for developing and executing residential mortgage-backed securities transactions and U.S. government guaranteed debt financings.
Vice President, Dillon, Read & Co. Inc., NY, NY and San Francisco, CA
1971 – 1982
Originated and executed private and public equity and debt offerings and mergers and acquisitions for utilities and industrial companies.
LT (jg), U.S. Navy
1967 – 1969
Supply Officer aboard Atlantic Fleet Destroyer.
Education
M.B.A., Finance, Columbia Business School, 1971
B.A., American History, Wesleyan University, Middletown, CT 1967
Outside Activities
President, Board of Trustees, Frost Valley YMCA, Claryville, NY
Enjoy riding bicycles and motorcycles
Selected Published Articles
“Private Equity Investment In Health Care Services,” Health Affairs, Vol. 27 No. 3.
“Capitalizing Hidden Values from Hospital Assets,” hfm, 4/2010.
Lead researcher and writer of over 75 Cain Brothers Briefing Papers and Strategies for Health Care Leaders white papers with the following selected recent titles:
“Behavioral Health – Expanding Access”
“FHA Strategy Can Improve Debt Structure and Strengthen Senior Living Providers’ Obligated Group Balance Sheets”
“Integrating Acute Care and Post-Acute Care: The Emerging Merging of the Sectors”
“Swap – As In Interest Rate Swap – Is Not a Four-Letter Word”
“What’s the Deal? Focus on Hospital M&A and Thoughts for Not-for-Profit Trustees”
“Real Estate Monetization with Net Lease Capital”
“Demise of the Back End? Transforming the Health Care Revenue Cycle”
“Navigating the Zone of Insolvency – A Nonprofit Trustee’s Guide to Financially Troubled Health Care Organizations”
“Fairness Opinions – Is the One You Receive Beyond Dispute?”
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