Join The Discussion

 

Group buys former Armour meatpacking site in Stockyards

The 16.8-acre site of the historic, former Armour meatpacking plant in Fort Worth’s Stockyards has changed hands, and its new owners aren’t saying anything about their plans. Chesapeake Land Development Co., which bought the site

read more >

Hulen Pointe Shopping Center sold

Hulen Pointe Shopping Center, located in southwest Fort Worth on South Hulen Street one mile south of Hulen Mall, has been purchased by Addison-based Bo Avery with TriMarsh Properties for an undisclosed price.

read more >

Dallas-Fort Worth in top five commercial real estate markets in 2015

According to the Emerging Trends in Real Estate 2015 report, just co-published by PwC US and the Urban Land Institute (ULI), Dallas-Fort Worth ranks No. 5, with two other Texas cities, Houston and Austin ranking at No. 1 and 2 respectively. San Francisco ranks No. 3 and Denver No. 4.

read more >

Social House Fort Worth plans to open mid-November

Social House has leased 5,045 square feet at 2801-2873 W Seventh St. in Fort Worth, according to Xceligent Inc.

read more >

Fort Worth temporarily stops issuing new home permits in TCU area

The moratorium will give a committee and the City Council time to review a proposed overlay that will pare the number of permissible unrelated adults living in the same house.

read more >

Mike Patterson

CFO of the Year – DFB Pharmaceuticals Inc.

Michael A. Patterson is much more than the chief operating officer for Healthpoint Biotherapeutics, the leading developer and provider of bioactive wound care treatment in the United States.

Patterson joined DFB Pharmaceuticals more than 20 years ago, and as executive vice president has been responsible for corporate finance, business development, operations, strategic planning, human resources and information technology.

He is credited with decentralizing DFB in such a way that each of its unique businesses – DPT Laboratories, Healthpoint Biotherapeutics and Phyton Biotech – could focus on its own core competencies in order to increase shareholder value.

Under Patterson’s financial direction, Healthpoint’s revenues grew from $149 million in 2011 to $194 million in 2012.  Gross profit increased 36 percent.

Healthpoint’s outstanding financial performance, top-tier market position and long-term growth prospects are what led to the sale of Healthpoint to Smith & Nephew for $782 million in November, says Travis Baugh, president of Healthpoint.
Smith & Nephew is a global medical technology business that operates in 90 countries. Healthpoint will continue operating out of Fort Worth under its existing senior 
management team.

Patterson has been a key member of that team since joining DFB Pharmaceuticals. He was instrumental in many of the key acquisitions that helped build DFB Pharmaceuticals over the years, Baugh says.

“In addition to being a terrific CFO – we have financed all our growth with bank financing, and he arranged for all of that – Mike is involved intimately with our operations,” Baugh says. “He sees the whole picture from market position, manufacturing and regulatory requirements, capital improvements, etc.”

Since it acquired DPT Laboratories from Alcon in 1990, DFB has been exclusively funded with bank debt. Revenues have grown from $15 million to $380 million, without requiring the dilution of equity.

“My biggest contribution has been finding ways to grow the businesses without selling any of our equity,” Patterson says. “We have been able to obtain the appropriate bank financing to support our growth strategy, using structured acquisitions to finance debt rather than the sale of equity in our companies.”

This acquisition and divestiture strategy has created more than $1 billion in shareholder value since the initial acquisition of DPT from Alcon in 1990, Baugh notes. He praised Patterson for his vision and his track record of maximizing shareholder value.

What is the best piece of financial advice you’ve ever 
received?


Just because you can borrow a certain amount of money doesn’t mean you should. Banks are often willing to loan you more than the business can really support.

What books/publications do you read to stay ahead in your industry?


Wall Street Journal, Harvard Business Review

Who would you say is your hero/someone you look up to, and why?


Warren Buffet. He buys businesses for the long term. He invests in things he understands and businesses with sustainable growth.

– Carolyn Poirot

< back

Email   email
hide
Ebola
How worried are you about Ebola spreading?