Terren Scott Peizer | |
---|---|
Born | |
Alma mater | Wharton School of the University of Pennsylvania |
Occupation | Financier |
Website | www |
Terren Scott Peizer is an investor; financier; and founder, chairman and CEO of Ontrak.[1][2] He is also chairman of the Los Angeles-based investment company Acuitas Group Holdings.[3]
Peizer has held various senior executive positions within several technology and biotech companies. In the 1980s, he was a bond trader at Drexel Burnham Lambert.[4][5]
Early life and education
editPeizer was born in 1959, and raised in Beachwood, Ohio.[6] He graduated from the Wharton School of the University of Pennsylvania.[7]
Career
editEarly career and Drexel Burnham Lambert
editPeizer began his career at Goldman Sachs[7] and First Boston.[8] Michael Milken then hired Peizer as a bond salesman at Drexel Burnham Lambert in 1985.[9] Peizer received a $3.5 million dollar salary, and a $500,000 loan to invest in the partnership.[10] Peizer worked directly under (and at the same desk as) Milken, whom he admired, sometimes pretending to be him on the phone.[8]
When investigations into Milken's illegal activities started, Peizer agreed to provide material evidence to prosecutors in exchange for immunity.[4] Peizer later claimed he felt "compelled" to testify against Milken,[9] although he (Peizer) was not specifically the subject of the investigation.[6]
1989–2000
editIn 1989, Peizer purchased a minor league basketball team, the Omaha Racers.[11][12] He sold his majority stake a year later.[13]
Following his departure from Drexel Burnham Lambert, Peizer took on leadership roles at a series of medical and technology companies and promoted their stocks.[14] In 1991 he became Chairman of Urethane Technologies (then UTI Chemicals), which produced bicycle tires.[15] He exited the company in 1994;[16] it went bankrupt in 1997.[17]
From 1993 to 1995, Peizer was Chairman of CMS Enhancements (a subsidiary of Ameriquest), which produced computer parts.[18] From 1997 to 1999, he was president of Hollis-Eden, a pharmaceutical company that was developing a drug to treat HIV/AIDS.[9][17] In August 1999, Peizer became chairman of Tera Computer Company, a manufacturer of supercomputers. At Tera, Peizer raised funding and led the acquisition of Cray from SGI in March 2000. The merged company took the name Cray, Inc.[19] Peizer left the chairman role at Cray in December 2000 but stayed with the company as a director.[20]
Prometa
editPeizer founded Hythiam, an addiction treatment company, in 2004.[21] According to Peizer, he became interested in addiction treatment because of his half-brother's struggles with addiction.[14][21] In 2007, 60 Minutes and The Dallas Morning News criticized Peizer after Hythiam circumvented clinical studies and government approval when bringing Prometa, a treatment program for methamphetamine addiction, to market.[22][23]
In 2011, Hythiam changed its name to Catasys, retaining Peizer as chairman and CEO of the company.[24]
2018–present
editIn 2018, Peizer became CEO and director of BioVie, a pharmaceutical company.[3] In July 2020, Catasys, of which Peizer is chairman and CEO, changed its name to that of its Ontrak product.[25]
References
edit- ^ "Board of Directors". Ontrak. Retrieved 12 August 2020.
- ^ Hackett, Mallory (3 November 2020). "Ontrak deepens its behavioral health platform with LifeDojo acquisition". MobiHealthNews. Retrieved 25 November 2020.
- ^ a b Iral, Vince (4 July 2018). "BioVie sells stock, warrants to Acuitas, names CEO". S&P Global. Retrieved 22 July 2020.
- ^ a b Labaton, Stephen (10 December 1988). "4th Drexel Employee in Immunity Bargain". The New York Times. Retrieved 12 August 2020.
- ^ Eichenwald, Kurt (20 October 1990). "Kohlberg, Kravis Official Tells of a Hidden Milken Stake". The New York Times. Retrieved 11 August 2020.
- ^ a b Lee, Patrick (31 July 1994). "In the Shadow of the '80s : Yesterday's High Rollers Struggle in a New Era of Sobriety". Los Angeles Times.
- ^ a b "Catasys Inc (CATS.OQ)". Reuters. Retrieved 17 August 2020.
- ^ a b Griffin, Nancy; Masters, Kim (1997). Hit & Run: How Jon Peters and Peter Guber Took Sony for a Ride in Hollywood. p. 143.
- ^ a b c Eaton, Leslie (17 February 1998). "No Sales, but Watch the Stock Soar". The New York Times.
- ^ Kornbluth, Jesse. Highly confident: The Crime and Punishment of Michael Milken. p. 213.
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(help) - ^ "Omaha CBA team sold to Los Angeles banker". The Lincoln Star. 7 September 1989. p. 18. Retrieved 11 August 2020.
- ^ "Of Rats and Riches". Financial World. 1994-04-26. p. 22.
- ^ Soderlin, Barbara (28 February 2014). "For Idelman, core values led to success; ego didn't". Omaha World-Herald. Retrieved 11 August 2020.
Idelman and his wife and business partner, Sheri Idelman, bought the minor-league Omaha Racers in 1990.
- ^ a b Alpert, Bill (7 November 2005). "Curb Your Cravings For This Stock". The Wall Street Journal. Retrieved 12 August 2020.
- ^ Michaud, Anne (10 April 1991). "Drexel Figure Gains Control of UTI Chemicals". Los Angeles Times. Retrieved 11 August 2020.
- ^ "Jim Orefice has been appointed chairman..." Los Angeles Times. 7 February 1994. Retrieved 11 August 2020.
- ^ a b "Small world, ain't it?". Forbes. 5 September 1999.
- ^ "CMS Enhancements Names New Top Management Team". LA Times.
- ^ "L.A. Financier Reemerges as Key Player in Cray Deal". Los Angeles Business Journal. 6 March 2000.
- ^ "Cray Inc. Names President, CEO Rottsolk Chairman". The Wall Street Journal. 26 December 2000. Retrieved 12 August 2020.
- ^ a b Bartholomew, Dana (7 December 2018). "Catasys Thrives on Data Dives". Los Angeles Business Journal. Retrieved 12 August 2020.
- ^ "Prescription For Addiction". 60 Minutes. CBS News. December 9, 2007. Archived from the original on 2020-08-05. Retrieved 2008-08-22.
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timestamp mismatch; 2007-12-31 suggested (help) - ^ Ramshaw, Emily (January 20, 2008). "Texas' Prometa program for treating meth addicts draws skeptics". Dallas Morning News. Archived from the original on 2020-08-05.
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timestamp mismatch; 2010-10-27 suggested (help) - ^ Crowe, Deborah (17 March 2011). "Hythiam Changes Name". Los Angeles Business Journal. Retrieved 12 August 2020.
- ^ "BRIEF-Catasys Says Co Will Adopt Name Of Ontrak". Reuters. 6 July 2020. Retrieved 12 August 2020.
Category:1959 births
Category:American investment bankers
Category:Drexel Burnham Lambert
Category:Goldman Sachs people
Category:Living people
Category:People from Beachwood, Ohio