Francisco Lobbosco of Future Life, Beth Zoneraich of Pinnacle and Richard Jennings of US Fertility
BY: RON SHINKMAN
Since being named group CEO of FutureLife in April, Francisco Lobbosco has been visiting every clinic in the company’s network. There are 44 in all, including 16 in the Czech Republic, where FutureLife is based. Lobbosco says he is traveling two to three days a week to visit all the locations. They include company-owned sites in Slovakia, the United Kingdom, Ireland, Spain, Romania, the Netherlands and Italy, along with affiliated clinics in Finland and Estonia.
Lobbosco says in an email that the visits are part of a steep learning curve in his new job that has “allowed me to immerse myself in the unique dynamics of each clinic, gain firsthand insights into the challenges and opportunities they face, and develop a strong rapport with the dedicated teams.”
Lobbosco is one of three new CEOs named to major fertility companies in recent months. They also include Beth Zoneraich, named CEO of Florida-based Pinnacle Fertility in late March, and Richard Jennings, CEO of Maryland-based U.S. Fertility, in January.
All three companies are completely or mostly financed by venture capital firms. CVC Capital and Hartenberg Holding back FutureLife; Pinnacle is held by Webster Equity Partners and Amulet Capital backs US Fertility.
Francisco Lobbosco, FutureLife
Of the three CEOs, Lobbosco had the most circuitous journey to the top job. An Argentinean by birth whose family relocated to Italy when he was an adolescent, Lobbosco was serving as chief operating officer for AniCura, a chain of veterinary hospitals and clinics, when he was contacted by a recruiter. Prior to AniCura, Lobbosco had been in senior positions with GrandVision and Vission Express, two European eyewear chains.
“The initial contact came as a surprise since I was content in my prior position,” Lobbosco says, but the top job resonated with him. He went through several rounds of interviews with the FutureLife board before being offered the position. He replaced Matěj Stejskal, who remains on the board of directors and is overseeing FutureLife’s mergers and acquisitions. Lobbosco relocated his family from the Netherlands to the Czech Republic for the new job.
He adds the experience in both the veterinary and vision worlds helped him with the transition.
“They provide a deep understanding of complex healthcare industries and regulatory compliance, which translate well into reproductive medicine,” he says.
Aside from visiting the various clinical sites, Lobbosco notes that the company is expanding. “We have been actively hiring more professionals to support our clinics and strengthen our team,” although he did not provide specific details on the new hires.
Beth Zoneraich, Pinnacle
Zoneraich joined Pinnacle as its chief operating officer in October 2021, after it acquired Advanced Fertility Care, the company she co-founded and served as CEO since 2005. She replaced Andrew Mintz, an executive whose primary expertise was in general medical group and hospital operations and was in the top job exactly a year. Mintz is now the CEO of a dental network.
Richard Groberg, who heads a consulting firm that works closely with companies in the fertility sector, says the changing of the guard at Pinnacle was sudden. He suggests that it likely took Zoneraich by surprise.
Zoneraich initially agreed to answer written questions, but had a change of heart after they were submitted. A spokesperson said Zoneraich was “finalizing a large partnership” and was unavailable.
Groberg says Zoneraich has been particularly aggressive regarding mergers and acquisitions since she became CEO.
“She’s made extraordinary progress in a very short period of time,” says Groberg, who represents several companies that have been in talks with Pinnacle. “I’ve had nothing but good experiences.” He adds that issues with absorbing some of Pinnacle’s acquisitions prior to Zoneraich’s elevation have also been resolved.
Zoneraich recently worked out a deal with TMRW for Pinnacle’s frozen egg and embryo storage, according to a TMRW press release.
Richard Jennings
Jennings was eased into his new job. U.S. Fertility named him to its board of directors last September, and also announced that he would become CEO on Jan. 1. He replaced Mark Segal, who had guided U.S. Fertility’s largest practice group, Shady Grove Fertility, since the 1990s. Segal was promoted to chairman of the U.S. Fertility board. Jennings was previously CEO of Generate Life Sciences and a board member of Gallant Therapeutics. He also held the top job at California Cryobank Life Sciences and MediScan Diagnostics.
Groberg says the appointment of Jennings was due to its top leadership wanting to transition into less strenuous roles.
Jennings and US Fertility have also been busy during his first five months at the reins. In March, the company agreed to acquire Ovation Fertility, a deal that was finalized late last month, creating a powerhouse with nearly 100 clinics and 28 laboratories. It also recently opened up its network of clinics to members of the Stork Club. And the company has also launched partnerships with two professional women soccer teams: Gotham FC and the Washington Spirit of the National Women’s Soccer League.
Jennings did not respond to a request for an interview.
Different Jobs, Different Situations
Groberg notes that although three major players in the fertility field have changed out their leadership in just a span of four months this year, it is not an indication of greater turmoil in the sector as a whole.
“These are three jobs – and three very different situations,” he says.
The themes reported in this publication are those of the news. They do not reflect the views of Inside Reproductive Health.
Amplification
Amplification from Three New Fertility Network CEOs And What They Have Done In Their First Calendar Year on 6/15/2023,
Original sentence:
Richard Groberg, who heads a consulting firm that works closely with companies in the fertility sector, says the changing of the guard at Pinnacle was sudden. He suggests that it likely took Zoneraich by surprise.
Amplification: The quote that the sentence referred to was
"When they first bought her practice, my understanding is that she was going to have a role, but there was no intention of her being CEO, nor did she intend to be CEO, but I don't know the inner details about what happened".
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