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Great Woman of Texas; Stacie McDavid

“I’ve always been a maverick in a number of ways,” says businesswoman and philanthropist Stacie McDavid.

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Thousands rally across US after Ferguson decision

Thousands of people rallied late Monday in U.S. cities including Los Angeles and New York to passionately but peacefully protest a grand jury's decision not to indict a white police officer who killed a black 18-year-old in Ferguson, Mo.

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Fort Worth Thanksgiving schedule announced

Thanksgiving closures have been announced, with most Fort Worth city offices – including City Hall – set to close Thursday Nov.27 and Friday Nov. 28 for the holiday, according to a city news release.

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Hope Lancarte of Joe T. Garcia's dies

Hope Lancarte, who ran her father's restaurant, Joe T. Garcia’s, for decades, died Thursday morning.. She was 86.

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Earthquake hits on Saturday near Irving

A 3.3 magnitude earthquake shook the Dallas-Fort Worth area around 9:15 p.m. Saturday night, according to the United State Geological survey.

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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

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Midterms
What was the message of the midterm elections?