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February 23, 2005

News & Opinion: Why did you got public with Neoforma?

By: 800-CEO-READ @ 8:48 PM – Filed under: Management & Workplace Culture

Once we brought on a tier one venture firm in mid-1998, it was not a question of whether we would pursue becoming a public company, but when. There was no decision.
The IPOs of Netscape and others had proven that the public was willing to bet on earlier companies than previously. And gambling is what the public stock market is all about. Anyone who pretends otherwise is doing just that pretending. Based on the economic reality of the time, the first company in each market sector to go public would reap the majority of the available mindshare.
We had run up against the frustrating inertia inherent in healthcare and knew that huge resources could help accelerate fundamental and much needed change. When the economic mood shifted from optimism to pessimism, a different, more patient approach is required. That is what we are doing at Attainia now.