Ted Kaminer | CFO of the Year, Medium Company

As posted on Philadelphiabusinessjournal.com

July 8, 2011

Ted Kaminer joined BioClinica Inc., a provider of technology-enabled services for clinical research based in Newtown, as its CFO in February 2003. Now executive vice president and CFO, Kaminer has helped drive the company's worldwide growth and expansion. During that period, revenues grew from $25 million to $75.2 million, while employment grew from 223 people to 475.

Kaminer oversees BioClinica's financial statements, audits, banking and financing relationships, investor relations and compliance with the Securities and Exchange Commission. He also manages the legal and human resource departments, contracts and proposals and regulatory and corporate administration.

During his first year as CFO, Kaminer initiated and closed a $10 million private placement. Since, he has successfully completed six acquisitions, without incurring any debt. Under his guidance, the company expanded its eClinical service and product offerings and entered a new area providing a suite of products.

Kaminer also actively supports and encourages all employees to support several charitable organizations and activities that BioClinica sponsors. These include the Penn State Dance Marathon, which raises money to find a cure for childhood cancers, the food bank Philabundance and the Greater Philadelphia Cares coat drive. As a rider in the MS-150, a fundraising cycling series for multiple sclerosis, Kaminer helped build a team of more than 25 riders that last year raised more than $15,000 to fight the disease.

Mark Weinstein, president and CEO of BioClinica, wrote in his nomination, "Since the day Ted arrived at BioClinica, he has been an invaluable resource to me and the company and has provided invaluable guidance to our sales and operational teams to enhance the cohesiveness that drives our success."

Alvert M. Piscopo, a partner at Price Waterhousecoopers, the auditor for BioClinica, wrote in his nomination, "Aside from having excellent accounting and finance skills, he is passionate about ensuring that the company has a rebust control structure in place — one that sets the right 'tone at the top' for the organization. He also does a great job of coaching his team by providing them with ample development opportunities to stretch their capabilities and add value to the company and its shareholders."

— Valerie Rubinsky

How did you arrive at your field? Applying the knowledge and skills developed in accounting and investment banking to become a CFO.

What have you done to contribute to your company's growth or profitability? During my tenure, we completed six acquisitions in the United States and Europe that expanded our medical imaging management capabilities into the cardiovascular and central nervous system areas and expanded our technology-enabled clinical trial offerings to include a full suite of eClinical solutions. During this time period the company grew from a marginally profitable business with a market cap of $28 million into a consistently profitable, global business with a market capitalization of $80 million and a strong balance sheet.

What have you done to strengthen your company's strategic position? During the last several years we expanded the company's suite of technology-enabled clinical trial services from our leading position in the medical image management solutions field to a full suite of best-in-class eClinical offerings that include electronic data capture; interactive voice and Web response; clinical supplies management and optimization; and clinical trial management solutions. This has increased our addressable market to more than $1 billion.

What have you done to safeguard your company's reputation? I'm responsible for the design, evaluation and supervision of our internal controls and procedures that govern our financial reporting.

What have you done to positively impact the community? I ride in the MS-150 bike race, along with the BioClinica team, to raise money for the National Multiple sclerosis Foundation.

What's the best career advice you ever got? Work hard, respect people and put the customer first.

If you weren't doing this, what would you want to be doing instead? Professional basketball.