June 2, 2021 – Horsham, PA-based Klein Hersh International, an executive search firm focused on the life sciences and healthcare industries, has appointed Jared Kaleck to managing partner. “The promotion reflects Klein Hersh’s ongoing evolution and innovation in life sciences executive search,” the search firm said. It also reflects an effort to oversee and manage growth at the firm: Klein Hersh completed 176 searches in the first quarter of this year, a 43 percent jump from the same period a year earlier.
“Since joining us in 2006, Jared has been instrumental in the steady and deliberate growth of our biotech and venture capital practice areas,” said Jason Hersh, CEO of Klein Hersh. “Jared brings not only his deep experience and seasoned industry knowledge, but his wholistic understanding of our organization and our vision for the future of Klein Hersh.” Mr. Kaleck, who joined the search firm in 2006, co-leads the CEO and board practice. He has partnered with clients on CEO, CBO, CFO and COO searches. Mr. Kaleck works closely with clients including life science focused venture capital firms, seed-stage companies, small to medium size biotech, and big pharma companies.
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“I’m honored to be recognized for my hard work and dedication to our organization,” said Mr. Kaleck. “And I am grateful for the strong partnerships I’ve developed over the years with innovative companies who are improving and saving the lives of patients through cutting edge science and technology.”
Established in 1998, Klein Hersh works with global pharmaceutical, biotech and healthcare companies as well as operating businesses of PE and VC-backed investments. Among the firm’s clients are a Who’s Who list of biopharma, biotechnology, life sciences, healthcare, therapeutics, and venture capital & private equity concerns, including CVS Health, Andreesen Horowitz, Elevate Bio, KKR, Novo Holdings, Talaris Therapeutics, Atlas Venture, Veradigm, Versant, Cognizant, Francisco Partners, Madrigal Pharmaceuticals, Adicet Bio, Arvinas, Third Rock, Riverside, Signet Healthcare Partners, Black Diamond Therapeutics, Clear Choice, Limelight Bio and Rhythm Pharmaceuticals, among a long list of other leaders across the space.
Equity Investment Stake
New State Capital Partners, based in Larchmont, NY, recently took an equity investment stake in Klein Hersh. New State was advised on the transaction by Morgan Lewis (legal), Duff & Phelps (financial), L.E.K. Consulting (industry), and Citizens Bank (M&A advisory). “It’s no secret that life sciences and healthcare are booming fields with significant growth pathways for the foreseeable future,” said Shaun Vasavada, vice president at New State. “Businesses in those sectors need experienced leaders with technical expertise to build successful organizations, and Klein Hersh has proven to be a strategic partner to clients seeking world-class talent.”
The search firm’s senior executives – Jason Hersh, Jesse Klein, and Josh Albert – will remain as the leadership team at the firm and will retain a substantial ownership stake. “It was important for us to find a financial partner who understood the priorities of owner-managed companies and could help us attain next-level growth,” said Mr. Hersh, CEO of the firm. “We feel fortunate to be working with New State, whose financial and operational resources will guide our expansion and reinforce the culture that has contributed to our success.”
“Executive recruiting leaders are increasingly turning to private equity funding sources to help them grow and expand, but also to safeguard their firms in times like the one we find ourselves in now,” said CEO Scott A. Scanlon, who also oversees Hunt Scanlon Ventures, an M&A advisory business which sits at the nexus of buyer, seller, private equity funding source, and client. “This represents a solid investment for New State Capital Partners and it is a platform they will be able to expand upon and extend in several directions in the coming years.” Growth areas include interim staffing – which has witnessed a resurgence in the life sciences sector during the pandemic, said Mr. Scanlon – as well as international opportunities which the search firm has had little exposure to. “As the pandemic reminds us, life sciences is a global endeavor and the need for talent will be explosive.”
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; and Stephen Sawicki, Managing Editor – Hunt Scanlon Media