Jean Hoffman sold her most recent company, Putney, to Dechra Holdings US Inc., a subsidiary of Dechra Pharmaceuticals PLC (LSE: DPH) for $200 million in cash. The sale closed in April 2016.
Jean founded, chaired the Board of Directors and led Putney as President and CEO from inception to exit, generating an almost 4X cash on cash return for Putney’s institutional investors. Ms. Hoffman developed the strategy, raised over $60 million in debt and equity and recruited the outstanding team that built Putney into America’s leading generic drug company for pets. Under her leadership, Putney’s R&D and Regulatory team received 47% of the dog and cat generic approvals by the Food and Drug Administration (FDA) since 2012. The Company’s commercial team launched eleven veterinary approved products for pets, four of them first to market generic dosage equivalents. In the highly regulated U.S. market, Putney had the highest product market shares of any generic veterinary company as well as the highest growth rate amongst all U.S. animal pharmaceutical companies.
Putney was Jean Hoffman’s second successful exit for a company she founded and built, after the acquisition of Newport Strategies, Inc. by Thomson Reuters (NYSE-TRI) in 2004. Newport built a global brand for its proprietary healthcare information technology (HIT) systems. Newport’s software developers delivered multiple generations of proprietary information systems that were adopted by customers on six continents and achieved an industry leading annual renewal rate of more than 85%.
Jean Hoffman has been honored with numerous business awards, including several for science and technology leadership, such as EY’s Entrepreneur of the Year™ 2014 Award for New England in the life sciences category and Deloitte’s 2013 North American Technology Fast 500.
Jean Hoffman thrives on challenge and problem solving, and enjoys challenging leaders and working collaboratively with a team to set clear goals, focus on priorities, and to capitalize on global trends and opportunities.