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Terren Scott Peizer
Born (1959-07-31) July 31, 1959 (age 65)
Beachwood, Ohio
Alma materWharton School of the University of Pennsylvania
OccupationFinancier
Websitewww.terrenpeizer.com

Terren Scott Peizer is an investor; financier; and founder, chairman and CEO of Ontrak.[1][2] He is also chairman of the Los Angeles-based investment company Acuitas Group Holdings.[3]

Peizer has held various senior executive positions within several technology and biotech companies. In the 1980s, he was a bond trader at Drexel Burnham Lambert.[4][5]

Early life and education

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Peizer was born in 1959, and raised in Beachwood, Ohio.[6] He graduated from the Wharton School of the University of Pennsylvania.[7]

Career

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Early career and Drexel Burnham Lambert

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Peizer began his career at Goldman Sachs[7] and First Boston.[8] Michael Milken then hired Peizer as a bond salesman at Drexel Burnham Lambert in 1985.[9] Peizer received a $3.5 million dollar salary, and a $500,000 loan to invest in the partnership.[10] Peizer worked directly under (and at the same desk as) Milken, whom he admired, sometimes pretending to be him on the phone.[8]

When investigations into Milken's illegal activities started, Peizer agreed to provide material evidence to prosecutors in exchange for immunity.[4] Peizer later claimed he felt "compelled" to testify against Milken,[9] although he (Peizer) was not specifically the subject of the investigation.[6]

1989–2000

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In 1989, Peizer purchased a minor league basketball team, the Omaha Racers.[11][12] He sold his majority stake a year later.[13]

Following his departure from Drexel Burnham Lambert, Peizer took on leadership roles at a series of medical and technology companies and promoted their stocks.[14] In 1991 he became Chairman of Urethane Technologies (then UTI Chemicals), which produced bicycle tires.[15] He exited the company in 1994;[16] it went bankrupt in 1997.[17]

From 1993 to 1995, Peizer was Chairman of CMS Enhancements (a subsidiary of Ameriquest), which produced computer parts.[18] From 1997 to 1999, he was president of Hollis-Eden, a pharmaceutical company that was developing a drug to treat HIV/AIDS.[9][17] In August 1999, Peizer became chairman of Tera Computer Company, a manufacturer of supercomputers. At Tera, Peizer raised funding and led the acquisition of Cray from SGI in March 2000. The merged company took the name Cray, Inc.[19] Peizer left the chairman role at Cray in December 2000 but stayed with the company as a director.[20]

Prometa

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Main article: Prometa

Peizer founded Hythiam, an addiction treatment company, in 2004.[21] According to Peizer, he became interested in addiction treatment because of his half-brother's struggles with addiction.[14][21] In 2007, 60 Minutes and The Dallas Morning News criticized Peizer after Hythiam circumvented clinical studies and government approval when bringing Prometa, a treatment program for methamphetamine addiction, to market.[22][23]

In 2011, Hythiam changed its name to Catasys, retaining Peizer as chairman and CEO of the company.[24]

2018–present

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In 2018, Peizer became CEO and director of BioVie, a pharmaceutical company.[3] In July 2020, Catasys, of which Peizer is chairman and CEO, changed its name to that of its Ontrak product.[25]

References

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  1. ^ "Board of Directors". Ontrak. Retrieved 12 August 2020.
  2. ^ Hackett, Mallory (3 November 2020). "Ontrak deepens its behavioral health platform with LifeDojo acquisition". MobiHealthNews. Retrieved 25 November 2020.
  3. ^ a b Iral, Vince (4 July 2018). "BioVie sells stock, warrants to Acuitas, names CEO". S&P Global. Retrieved 22 July 2020.
  4. ^ a b Labaton, Stephen (10 December 1988). "4th Drexel Employee in Immunity Bargain". The New York Times. Retrieved 12 August 2020.
  5. ^ Eichenwald, Kurt (20 October 1990). "Kohlberg, Kravis Official Tells of a Hidden Milken Stake". The New York Times. Retrieved 11 August 2020.
  6. ^ a b Lee, Patrick (31 July 1994). "In the Shadow of the '80s : Yesterday's High Rollers Struggle in a New Era of Sobriety". Los Angeles Times.
  7. ^ a b "Catasys Inc (CATS.OQ)". Reuters. Retrieved 17 August 2020.
  8. ^ a b Griffin, Nancy; Masters, Kim (1997). Hit & Run: How Jon Peters and Peter Guber Took Sony for a Ride in Hollywood. p. 143.
  9. ^ a b c Eaton, Leslie (17 February 1998). "No Sales, but Watch the Stock Soar". The New York Times.
  10. ^ Kornbluth, Jesse. Highly confident: The Crime and Punishment of Michael Milken. p. 213. {{cite book}}: Cite has empty unknown parameter: |1= (help)
  11. ^ "Omaha CBA team sold to Los Angeles banker". The Lincoln Star. 7 September 1989. p. 18. Retrieved 11 August 2020.
  12. ^ "Of Rats and Riches". Financial World. 1994-04-26. p. 22.
  13. ^ Soderlin, Barbara (28 February 2014). "For Idelman, core values led to success; ego didn't". Omaha World-Herald. Retrieved 11 August 2020. Idelman and his wife and business partner, Sheri Idelman, bought the minor-league Omaha Racers in 1990.
  14. ^ a b Alpert, Bill (7 November 2005). "Curb Your Cravings For This Stock". The Wall Street Journal. Retrieved 12 August 2020.
  15. ^ Michaud, Anne (10 April 1991). "Drexel Figure Gains Control of UTI Chemicals". Los Angeles Times. Retrieved 11 August 2020.
  16. ^ "Jim Orefice has been appointed chairman..." Los Angeles Times. 7 February 1994. Retrieved 11 August 2020.
  17. ^ a b "Small world, ain't it?". Forbes. 5 September 1999.
  18. ^ "CMS Enhancements Names New Top Management Team". LA Times.
  19. ^ "L.A. Financier Reemerges as Key Player in Cray Deal". Los Angeles Business Journal. 6 March 2000.
  20. ^ "Cray Inc. Names President, CEO Rottsolk Chairman". The Wall Street Journal. 26 December 2000. Retrieved 12 August 2020.
  21. ^ a b Bartholomew, Dana (7 December 2018). "Catasys Thrives on Data Dives". Los Angeles Business Journal. Retrieved 12 August 2020.
  22. ^ "Prescription For Addiction". 60 Minutes. CBS News. December 9, 2007. Archived from the original on 2020-08-05. Retrieved 2008-08-22. {{cite news}}: |archive-date= / |archive-url= timestamp mismatch; 2007-12-31 suggested (help)
  23. ^ Ramshaw, Emily (January 20, 2008). "Texas' Prometa program for treating meth addicts draws skeptics". Dallas Morning News. Archived from the original on 2020-08-05. {{cite news}}: |archive-date= / |archive-url= timestamp mismatch; 2010-10-27 suggested (help)
  24. ^ Crowe, Deborah (17 March 2011). "Hythiam Changes Name". Los Angeles Business Journal. Retrieved 12 August 2020.
  25. ^ "BRIEF-Catasys Says Co Will Adopt Name Of Ontrak". Reuters. 6 July 2020. Retrieved 12 August 2020.


Category:1959 births Category:American investment bankers Category:Drexel Burnham Lambert Category:Goldman Sachs people Category:Living people Category:People from Beachwood, Ohio

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