Wikipedia

Adam Boehler

Adam Seth Boehler (/ˈbeɪlər/ BAY-lər; born June 23, 1979) is an American businessman and government official who served as the first chief executive officer of the U.S. International Development Finance Corporation from 2019 to 2021. He is currently the chief executive officer of Rubicon Founders, a health care investment firm based in Nashville. He is the founder of Landmark Health.

Adam Boehler
Special Envoy for Hostage Affairs
Presumptive nominee
Assuming office
TBD
PresidentDonald Trump (elect)
SucceedingRoger D. Carstens
1st CEO of the U.S. International Development Finance Corporation
In office
October 1, 2019 – January 20, 2021
Preceded byDavid Bohigian (acting president of the Overseas Private Investment Corporation)
Succeeded byScott Nathan
Director for the Center for Medicare and Medicaid Innovation
In office
April 2018 – October 2019
Preceded byDr. Patrick Conway
Succeeded byBrad Smith
Personal details
Born
Adam Seth Boehler

(1979-06-23) June 23, 1979 (age 45)
Albany, New York, U.S.
SpouseShira Boehler
Children4
EducationWharton School of the University of Pennsylvania (BS)

He previously served as Director of the Center for Medicare and Medicaid Innovation, as well as Senior Advisor for Value-based Transformation for Health and Human Services Secretary Alex Azar and Deputy Administrator of the Centers for Medicare and Medicaid Services. He joined CMS in April 2018.[1][2]

Early life and education

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Boehler was born in Albany, New York on June 23, 1979 to a Jewish[3] household. Boehler's father is a physician. Boehler graduated magna cum laude from the Wharton School of the University of Pennsylvania in 2000.[4] He was a summer college roommate of Jared Kushner, with whom he would later work on a team coordinating tests for COVID-19.[5] During college, Boehler worked for a summer at the Financial and Fiscal Commission, a government agency managed by the Parliament of South Africa.[6]

Early career

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Boehler started his career at Battery Ventures, a technology venture capital firm that focuses on investments in software and emerging technologies.[7] Boehler was also an Operating Partner at Francisco Partners, a global private equity firm based in San Francisco focusing on healthcare. Boehler founded and was Chairman of Avalon Health Solutions, a provider of laboratory benefit management services.[8]

Previously, Boehler was the founder and chief executive officer of Accumen, a provider of laboratory management services to health systems.[9][10] Prior to joining CMS, Boehler was founder and chief executive officer of Landmark Health, the largest provider of home-based medical care in the country.[11] United Health Group purchased Landmark for $3.5 billion in 2021.[12]

US Government (2018-2021)

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Center for Medicare and Medicaid Innovation

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Boehler was appointed Director of the Center for Medicare and Medicaid Innovation at the United States Department of Health and Human Services (HHS) in April 2018.[13] While at HHS, Boehler also served as Senior Advisor for Value-based Transformation to Secretary Alex Azar.

During his tenure at CMMI, Boehler launched 16 payment models[14] designed to speed the transformation of US Health Care to value based payments instead of fee for service.[15] He launched a series of models focused on empowering primary care physicians[16] as well as transforming kidney care across the United States.[17]

During the COVID crisis, Boehler led teams focused on expanding testing, sourcing critical PPE, and ensuring that there were sufficient ventilators for the United States population (and ultimately helping emerging countries in need). Boehler was a founding board member of Operation Warp Speed. On May 14, 2020, the President of the United States signed an executive order delegating Defense Production Act authorities to Boehler, underwriting the production of various vaccines under consideration in advance of the Food and Drug Administration's approval to expand domestic vaccine supply.[18][19]

International Development Finance Corporation

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On July 10, 2019, the president of the United States announced his intent to nominate Boehler for the position of chief executive officer of the newly formed U.S. International Development Finance Corporation, a government agency formed through the Better Utilization of Investments Leading to Development (BUILD) Act as a consolidation of the Overseas Private Investment Corporation and the Development Credit Authority of the United States Agency for International Development (USAID) into one entity.[20][21] The nomination was received by the Senate on July 22, 2019, and confirmed unanimously by voice vote on September 26, 2019.[22]

Under his tenure at the DFC, Boehler helped draft an executive order in response to COVID-19 that expanded the DFC to domestic projects—a break from its congressional mandate, which focused on funding projects in the developing world.[23][24] The DFC's first domestic loan was a $765 million loan to Kodak intended to transform the photography company into a pharmaceutical company. An investigation by the DFC Office of Inspector General found no evidence that DFC staff had conflicts of interest regarding the loan, and found no "evidence of misconduct on the part of DFC officials."[24]

Three Seas Initiative

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The DFC under Boehler publicly advocated for and invested $300 million in the Three Seas Initiative Investment Fund to bolster the energy security of East European countries and counter Russian influence.[25][26][27]

Serbia/Kosovo

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Under Boehler, the DFC and EXIM signed letters of interest with Serbia and Kosovo to help finance projects identified under a U.S. brokered agreement to advance economic cooperation and development between Kosovo and Serbia. Serbian president Aleksandar Vucic and Kosovo prime minister Avdullah Hoti signed the agreement on September 4, 2020, in Washington.[28]

Afghanistan

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Boehler accompanied Ambassador Khalizad to negotiate with the Taliban in a series of meetings held in Qatar touting the possibility of joint investment in Afghanistan through the Qatar Fund for Development, and promoting a commitment to peace to prioritize Afghanistan's economic growth.[29][30][31]

Southeast Asia

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Boehler met with heads of state in Vietnam[32] and Indonesia[33][34] to discuss investments in energy and infrastructure. He led the last US delegation to meet with State Counselor Aung San Suu Kyi prior to her arrest and imprisonment by the Myanmar military on February 1, 2021. [35]

Among the first equity investments made by the DFC were a $54 million investment in India's National Investment and Infrastructure Fund,[36] a direct investment in the Indian e-commerce fresh produce startup FreshToHome,[37] and over $200 million in solar power.[38]

South America and Latin America

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Boehler met with leaders of countries across the region, including the Caribbean,[39] Colombia,[40] Ecuador,[41][42] El Salvador,[43] Guatemala,[44][45] Honduras,[46][47][48] and Venezuelan opposition leader Juan Guaidó.[49] DFC's 2020 annual report indicated loans to women-owned or led small-medium enterprises of approximately $1 billion across Latin America.[50]

Colombian president Iván Duque and Boehler drafted an economic plan addressing the growth of cocaine farming in Colombia.[51][52][53] The DFC reported investments of over $1 billion in more than 30 projects in Colombia across infrastructure and financial sectors in late 2020.[54]

Countering China's Belt & Road

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Ecuador

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Boehler led negotiations with Ecuadorean president Lenín Moreno resulting in a $3.5 billion lending agreement enabling prepayment of loans to China, in exchange for Ecuador excluding Chinese telecoms services and equipment providers from its 5G telecommunications networks.[55][56]

Greece

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In July 2020, the DFC-backed Onex Group signed an agreement “in principle” to take over management of Elefsis Shipyards, the second largest in Greece.[57] Shipyard investing efforts started by Boehler in Greece to counter China's BRI continued following his tenure.[58][59][60]

Africa

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Boehler met in November 2019 with Ethiopia's prime minister, president, and finance ministers to discuss support of reform initiatives on the nation's developmental goals.[61][62][63] Through the Atlantic Council, the DFC engaged with various African presidents presenting as an alternative source to China BRI funding.[64]

Abraham Accords

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Boehler was part of several delegations that traveled in 2020 and 2021 with Jared Kushner to Saudi Arabia, UAE and Qatar that ultimately resulted in the Abraham Accords,[65][66] as well as the agreement to resolve the Gulf Rift.[67][68][69]

 
Boehler with Moroccan officials during American-Israeli delegation visit

Boehler was part of a high-level delegation to Israel and Morocco to discuss the Israel–Morocco normalization agreement,[70][71] as well as a delegation in October 2020 with Secretary of Treasury Steven Mnuchin to Israel, Bahrain, and UAE to discuss economic cooperation under the Abraham Accords.[72]

Post-government career

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In 2021, Boehler started a health-care investment firm, Rubicon Founders, based in Nashville, Tennessee. The firm is focused on senior living and genomics.[73] He is also on the Board of Directors of the Atlantic Council and a member of the United States Holocaust Memorial Council.[74][75]

Personal life

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Boehler currently resides in Nashville, Tennessee with his wife, Shira, and their four children.[76] Boehler formerly resided in New Orleans.[10]

References

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  1. ^ "CMMI's Adam Boehler wants to 'blow up' fee for service". FierceHealthcare. November 29, 2018. Retrieved December 23, 2019.
  2. ^ "Health Care Powerhouse Stops by CDPHPAdam Boehler Shares Vision on Future of Health Care in America". markets.businessinsider.com. Retrieved April 14, 2020.
  3. ^ https://www.jta.org/2024/12/04/politics/trump-names-former-abraham-accords-negotiator-as-top-hostages-official
  4. ^ "Archived copy". Archived from the original on October 24, 2019. Retrieved April 8, 2021.{{cite web}}: CS1 maint: archived copy as title (link)
  5. ^ Lahut, Jake (July 31, 2020). "Jared Kushner asked his college roommate to create a national coronavirus testing plan, according to a new report". Business Insider. Retrieved August 4, 2020.
  6. ^ "Opening Statement of Adam Boehler" (PDF). senate.gov. September 19, 2019. Retrieved March 31, 2023.
  7. ^ "Battery Ventures". Battery Ventures. Retrieved December 23, 2019.
  8. ^ "Laboratory Benefit Manager". Avalon Healthcare Solutions. Retrieved December 23, 2019.
  9. ^ "Accumen.com - Delivering Healthcare Performance". Accumen.com. Retrieved December 23, 2019.
  10. ^ a b Crisp, Elizabeth (October 8, 2019). "New Orleans resident Adam Boehler takes reins of federal foreign investment effort". NOLA.com. Retrieved April 14, 2020.
  11. ^ "In Home Medical Care with Doctor House Calls". Landmark Health. Retrieved December 23, 2019.
  12. ^ "UnitedHealth's Optum Reportedly Strikes Deal for Landmark Health". February 21, 2021. Retrieved February 21, 2021.
  13. ^ "HHS Secretary Alex Azar appoints Adam Boehler as director of CMMI". healthcarefinancenews.com. April 9, 2018. Retrieved November 14, 2023.
  14. ^ "Adam Boehler speaks on what's next as he reflects on CMMI tenure". fiercehealthcare.com. October 30, 2019. Retrieved November 15, 2023.
  15. ^ "CMMI's Adam Boehler wants to 'blow up' fee for service". fiercehealthcare.com. November 29, 2018. Retrieved November 15, 2023.
  16. ^ "CMS announces new primary care payment models aimed at greater shared risk". fiercehealthcare.com. April 22, 2019. Retrieved November 15, 2023.
  17. ^ "Innovative New Kidney Care Model in Development Highlighted at National Quality Forum". kidneynews.org. March 26, 2019. Retrieved November 15, 2023.
  18. ^ "Delegating Authority Under the Defense Production Act to the Chief Executive Officer of the United States International Development Finance Corporation To Respond to the COVID-19 Outbreak". federalregister.gov. May 15, 2020. Retrieved November 14, 2023.
  19. ^ "Inside the Messy Race to Develop a COVID Vaccine". esquire.com. October 19, 2021. Retrieved November 14, 2023.
  20. ^ "OPIC President and CEO Washburne Statement as President Signs BUILD Act into Law". dfc.gov. Retrieved December 23, 2019.
  21. ^ "President Donald J. Trump Announces Intent to Nominate Personnel to Key Administration Posts". whitehouse.gov. Retrieved December 23, 2019 – via National Archives.
  22. ^ "PN972 - Nomination of Adam Seth Boehler for United States International Development Finance Corporation, 116th Congress (2019-2020)". www.congress.gov. September 26, 2019. Retrieved December 23, 2019.
  23. ^ Rappeport, Alan; Swanson, Ana; Thrush, Glenn (October 25, 2020). "Kodak Loan Debacle Puts a New Agency in the Hot Seat". The New York Times. ISSN 0362-4331. Retrieved October 26, 2020.
  24. ^ a b Rachael Levy (December 6, 2020). "Watchdog for U.S. Agency That Brokered Controversial Kodak Loan Deal Finds No Wrongdoing". Wall Street Journal.
  25. ^ "US offers allies energy investment without strings attached". ft.com. February 24, 2020. Retrieved December 2, 2023.
  26. ^ "Transcript: A conversation with US Secretary of State Michael R. Pompeo on China, the Middle East, and the Trump administration's foreign policy". atlanticcouncil.org. September 15, 2020. Retrieved December 2, 2023.
  27. ^ "DFC Approves Over $2.1 Billion in New Investments for Global Development". dfc.gov. December 10, 2020. Retrieved December 2, 2023.
  28. ^ "U.S. private capital eyes investments in Serbia, Kosovo - Boehler". seenews.com. September 22, 2020. Retrieved December 1, 2023.
  29. ^ "Taliban Ready For Compromise With Kabul to Reach Peace, US Rep for Afghanistan Says". globalsecurity.org. March 7, 2020. Retrieved December 1, 2023.
  30. ^ "US envoy forges ahead with troubled Taliban peace deal". www.wbal.com. July 4, 2020. Retrieved December 1, 2023.
  31. ^ "Adam Boehler: Negotiating with the Taliban – here are the lessons I learned". allmybiznews.com. August 25, 2021. Retrieved December 1, 2023.
  32. ^ "Vietnam always supports US investors: Party official". nhandan.vn. January 8, 2020. Retrieved December 1, 2023.
  33. ^ "Statement by DFC CEO Adam Boehler Following His Meeting With Indonesian President Joko Widodo". dfc.gov. January 10, 2020. Retrieved December 1, 2023.
  34. ^ "Indonesia says U.S. DFC will invest $2 billion in new sovereign wealth fund". reuters.com. November 23, 2020. Retrieved December 1, 2023.
  35. ^ "EXIM Chairman Kimberly Reed Meets With State Counsellor of Myanmar Aung San Suu Kyi to Discuss Economic Development and Job Creation". exim.gov. October 27, 2020. Retrieved December 1, 2023.
  36. ^ "US financial body to invest USD 54 mn in India to support critical infrastructure projects". indiatvnews.com. December 23, 2020. Retrieved December 1, 2023.
  37. ^ "India's FreshToHome raises $121 million to grow its meat and vegetable e-commerce platform". techcrunch.com. October 27, 2020. Retrieved December 1, 2023.
  38. ^ "US DFC Okays $350 Mn for Development in India Including over $200 Mn for Solar". saurenergy.com. June 5, 2020. Retrieved December 1, 2023.
  39. ^ "U.S. Delegation Advances Economic Growth, Private Sector Investment in Suriname, Guyana, Jamaica, Haiti, Dominican Republic". dfc.gov. October 15, 2020. Retrieved December 1, 2023.
  40. ^ "Readout of Boehler's Meeting With Colombian President Iván Duque". dfc.gov. December 6, 2019. Retrieved December 1, 2023.
  41. ^ "DFC and Ecuador Sign Joint Statement Highlighting Support for Investment and Development in Ecuador". dfc.gov. December 7, 2020. Retrieved December 1, 2023.
  42. ^ "Adam Boehler: 'Ecuadorians need to look at what's happening in Venezuela'". expreso.ec. December 15, 2020. Retrieved December 1, 2023.
  43. ^ "U.S. Finance Corporation Director to Meet with Bukele to Discuss 'America Grows'". laprensagrafica.com. January 30, 2020. Retrieved December 1, 2023.
  44. ^ "US Commits $1 Billion USD To Guatemala Private Sector Development". financeamericas.com. January 16, 2020. Retrieved December 1, 2020.
  45. ^ "DFC APPROVES A $200 MILLION INVESTMENT FOR GUATEMALA". usembassy.gov. June 4, 2020. Retrieved December 1, 2020.
  46. ^ "Readout of Boehler's Meeting With Government of Honduras". dfc.gov. December 20, 2019. Retrieved December 1, 2023.
  47. ^ "New $1 Billion of Private Sector Investment in Honduras". fundsforngos.org. July 23, 2020. Retrieved December 1, 2023.
  48. ^ "Readout from the Meeting with Honduran President Juan Orlando Hernandez and DFC CEO Adam Boehler". dfc.gov. December 4, 2020. Retrieved December 1, 2023.
  49. ^ "DFC CEO Adam Boehler's Statement on His Meeting With Interim President of the Bolivarian Republic of Venezuela Juan Guaidó". dfc.gov. February 7, 2020. Retrieved December 1, 2023.
  50. ^ "A Report on DFC's First Year" (PDF). dfc.gov. Retrieved December 1, 2023.
  51. ^ "US vows to invest 'billions' in Colombia's countryside to combat drug trafficking". colombiareports.com. January 17, 2020. Retrieved December 1, 2023.
  52. ^ "DFC CEO Adam Boehler Explores Investment Opportunities in Colombia". dfc.gov. January 17, 2020. Retrieved December 1, 2023.
  53. ^ "U.S. Government Announces Bilateral Initiative to Advance Rural Development in Colombia". dfc.gov. August 18, 2020. Retrieved December 1, 2023.
  54. ^ "Bilateral initiative to advance Rural Development in Colombia". fundsforngos.org. August 20, 2020. Retrieved December 1, 2023.
  55. ^ "DFC and Ecuador Sign Joint Statement Highlighting Support for Investment and Development in Ecuador". dfc.gov. December 7, 2020. Retrieved December 1, 2023.
  56. ^ "Deal with US development bank will help Ecuador pay Chinese loans". thecuencadispatch.com. January 19, 2021. Retrieved December 1, 2023.
  57. ^ "Onex Group set to take over Elefsis Shipyard". seatrade-maritime.com. July 30, 2020. Retrieved December 1, 2023.
  58. ^ "Adam Boehler (DFC): Why we are investing in Greece now". capital.gr. September 22, 2020. Retrieved December 1, 2023.
  59. ^ "A crucial Greek port will now fall under American control". elpais.com. September 22, 2022. Retrieved December 1, 2023.
  60. ^ "The U.S. Bails Out Elefsina Shipyard in Greece with $125 Million Loan". greekreporter.com. November 8, 2023. Retrieved December 1, 2023.
  61. ^ "DFC chief visits Ethiopia". thereporterethiopia.com. November 19, 2019. Retrieved December 1, 2023.
  62. ^ "US International Development Finance Corporation (DFC) to Support Ethiopia with $5 Billion". businesselitesafrica.com. March 5, 2020. Retrieved December 1, 2023.
  63. ^ "A Conversation With Adam Boehler". cfr.org. October 30, 2020. Retrieved December 1, 2023.
  64. ^ "The US government makes its big push for investment in Africa". atlanticcouncil.org. October 16, 2020. Retrieved December 1, 2023.
  65. ^ "Secretary of the Treasury Steven T. Mnuchin Abraham Accords Dinner Keynote Address". treasury.gov. October 20, 2020. Retrieved December 2, 2023.
  66. ^ "Abraham Accords, one year later: The inside story". jpost.com. August 11, 2021. Retrieved December 2, 2023.
  67. ^ "Trump senior aide Kushner and team heading to Saudi Arabia, Qatar". cnbc.com. November 29, 2020. Retrieved December 2, 2023.
  68. ^ "Jared Kushner takes on Qatar blockade in Middle East 'swan song'". aljazeera.com. December 1, 2020. Retrieved December 2, 2023.
  69. ^ "Saudi Arabia, Qatar to sign U.S.-brokered deal to ease Gulf crisis". axios.com. January 4, 2021. Retrieved December 2, 2023.
  70. ^ Steve Holland (December 15, 2020). "Kushner to lead U.S. delegation to Israel, Morocco". Reuters.
  71. ^ Steve Holland (November 29, 2020). "Trump senior aide Kushner and team heading to Saudi Arabia, Qatar". Reuters.
  72. ^ "Mnuchin to lead U.S. delegation to Israel, Bahrain and UAE to support Abraham Accords". Israel National News. October 17, 2020.
  73. ^ "Ex-Trump Aide Boehler Launches Health-Care Investment Firm". Bloomberg.com. April 7, 2021.
  74. ^ "Board of Directors". www.atlanticcouncil.org.
  75. ^ "President Trump to Appoint New Council Members — United States Holocaust Memorial Museum". www.ushmm.org. December 4, 2020.
  76. ^ "Adam Boehler Announces New Healthcare Firm, Rubicon Founders, Headquartered In Nashville". www.prnewswire.com (Press release).
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