About City

About Deerfield

Background and Founding

Deerfield Management was established in 1994 by Arnold Snider with an initial equity investment of $17 million. Snider brought significant experience to the firm, having worked as a pharmaceutical analyst at Kidder Peabody and later as a managing director at Tiger Management. Deerfield is considered one of the Tiger Cubs, a group of hedge funds founded by former employees of Tiger Management. In 2000, James Flynn joined Deerfield and eventually rose to the position of CEO. Snider officially retired from the firm in 2005.

Financial Performance and Expansion

Deerfield has demonstrated consistent profitability, with reports from February 2019 indicating that the firm had been profitable for five consecutive years, including four years of double-digit gains. For example, the firm achieved an 11% return in 2018. In May 2019, Deerfield expanded its physical presence by acquiring 345 Park Avenue South in New York City, which became its new headquarters.

Strategic Acquisitions and Partnerships

Deerfield has actively engaged in acquiring companies, especially those undergoing financial distress. In August 2015, it acquired IMRIS following the company’s Chapter 11 bankruptcy filing. This was followed by the acquisition of Adeptus Health in April 2017 under similar circumstances. Deerfield also made a significant commitment to research and innovation; in October 2017, it pledged $50 million to the Broad Institute to support drug discovery efforts.

Commitment to Medical Research

In March 2019, Deerfield announced a strategic partnership with Harvard University aimed at funding drug development and medical treatments. Deerfield committed $100 million to this initiative, which was channeled through a newly formed entity called Lab1636. Continuing its focus on healthcare, Deerfield acquired Melinta Therapeutics in April 2020 by exchanging $140 million in secured debt for full equity ownership after Melinta filed for Chapter 11 bankruptcy protection.

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Total Stocked Products
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Orders Shipped
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Mission

To strategically invest in and support innovative healthcare and life sciences companies by providing capital, expertise, and partnerships that accelerate the development of breakthrough medical treatments and improve patient outcomes worldwide.

Vision

To be a leading investment firm renowned for transforming healthcare through visionary partnerships, pioneering research funding, and sustainable growth in life sciences that positively impact global health.