W Bruce Steever - Co-founder and Chief Financial Officer
W Bruce Steever has more than three decades of experience in finance and accounting ranging from start-ups to a $1.5 billion international, multi-industry Fortune 200 firm.
He is particularly skilled in the financial and investment aspects of early-stage ventures.
Mr. Steever served as the senior financial executive for Quantum Health Resources, Inc., a $360 million NASD-listed chronic disease management provider co-founded by Mr. Stickney.
Mr. Steever has also served as CFO for two $100+ million equipment rental/supply subsidiaries of a $1 billion family-owned wholesale distribution enterprise and a $70 million NASD-listed dental HMO.His initial corporate experience after working at a Big Eight CPA firm was gained as Chief Accounting Officer of Studebaker-Worthington, Inc., a $1.5 billion NYSE-listed multinational firm.
Mr. Steever received his B. S. degree in Business Administration (Accounting) from Lehigh University and obtained his CPA certification from the State of New York.
W. Bruce SteeverBoard MemberW Bruce Steever is a co-founder and member of the Board of Directors for Cerius Interim Executive Solutions.
With over three decades of expertise in finance, accounting and administration, he is well equipped to bring early-stage companies, and those companies in the midst of expansion or organizational change, to success in a timely and organized manner.
He has also overseen several successful turnarounds of companies in severe turmoil.
In addition to his extensive work in raising private capital and establishing appropriate staff and infrastructure, he has worked hand-in-hand with CEOs and the boards of pre-IPO entities to advise them as their businesses grew.
Bruce has co-managed three over-subscribed Public Offerings - a $32 million Common Stock IPO, an $86 million Convertible Debenture sale and $100 million of Corporate Bonds - as well as two $100 million Bank Revolving Credit Lines and other major secured/unsecured credit lines.
Combining the entrepreneurial spirit needed to flourish in early-stage, emerging businesses and pre-IPOs with the broader corporate vision and oversight experience garnered at larger publicly-traded companies, he also has remained proficient in SEC/GAAP compliance and reporting; budgeting and forecasting; cash and balance sheet management; financial and performance analyses; M&A, divestitures and turnarounds; and H.R. (notably "hands-on" hiring, training, development and retention).
With over four decades of expertise in finance, accounting and administration, Bruce has a proven track record in publicly traded and privately owned entities ranging in size from day-one start-ups to a $1.5 billion Fortune 200 firm.
A transplant to Southern California from Northern New Jersey in late 1981, Bruce has worked in a variety of industries including home infusion and chronic disease therapy, dental laboratory and HMO management, medical imaging device development, international multi-industry conglomerates, wholesale distribution and public accounting.
He is very well equipped to help early-stage ventures and small- to mid-sized enterprises in the midst of expansion and/or organizational change to achieve successful growth and/or liquidity in a timely and organized manner.
Prior to joining B2B CFO® in late 2011, Bruce became CFO and Co-founder of Quantum Dental Resources, Inc. ("QDRI"), a Carmel, IN-based dental lab and services start-up, in 2007, when he was reunited with his prior CEO from QHRI (see below).
Key accomplishments included the initial equity financing, six lab acquisitions and establishment of a conformed reporting system.
Despite the challenges of an onerous recession, QDRI's lab network outperformed the industry as a whole and the sector leaders in 2009 and 2010 before the CEO and Bruce merged QDRI into one of the larger industry competitors in 2011.
Prior to QDRI, Bruce co-founded Cerius Interim Executive Solutions ("Cerius"), an independent executive and general management services firm based in Orange County, CA. In addition to providing hands-on creative business solutions to his Cerius clients, he served as Cerius' CFO, heading up its capital funding, financial, accounting and administrative efforts; he also was a primary force in all Principal and Partner/Alliance recruiting and oversight activities in years 1-3.Cerius was bought by its senior management team in early 2011.
In the late 1990's, Bruce was Co-founder and Senior V.P. & CFO of StorCOMM, Inc., a privately owned clinical image management systems ("CIMS") innovator (based in San Diego, CA and Jacksonville, FL) with operations in the U. S. and U. K. He helped the CEO raise over $20 million in equity capital and played a key role as StorCOMM achieved a top-ten ranking in the highly competitive U. S. PACS/CIMS sector.He was a member of the Board of Directors of StorCOMM and its wholly owned U. K. subsidiary, StorCOMM, Ltd.
The Company and its unique array of CIMS technology were sold to a competitor following the industry's Y2K debate.
Between 1988 and 1995, Bruce served as the senior financial executive (as employee #6) for Quantum Health Resources, Inc. ("QHRI"), a publicly–listed (NASD) chronic disease management and home healthcare provider (with $360 million in 1995 Revenues), where he reported directly to the Chairman & CEO (the same Chairman & CEO of QDRI – see above).
Key accomplishments included $11 million of private equity financing, a $7.5 million Bank line of credit and two over-subscribed public offerings – a $32 million Common Stock IPO and an $86 million Convertible Debenture sale – as well as four "Pooling of Interest" transactions, from due diligence to negotiation to integration.
He managed the entire finance and accounting area, where he developed and retained a top-notch professional staff and helped implement state-of-the-art systems/processes.From inception to 1991, he was actively involved in the H.R. and Administrative functions as well; subsequently, Bruce assumed an oversight role for Quantum's payor reimbursement process at the corporate and regional levels.
Finally, he played a key role assisting the CEO in Quantum's investor relations' efforts, contributing to Quantum's selection as the Public Relations Society of America's 1993 Silver Anvil Award for best Investor Relations in Healthcare.
In the 1980's, Bruce was CFO for two $100-plus million equipment rental/supply subsidiaries of a $1 billion family-owned wholesale distribution enterprise, a $110 million Branded Snack Foods leveraged buyout and a $70 million Dental HMO turnaround (where he developed and led a restructuring/divestiture plan that enabled the firm to rebound from a $1.5 million loss to a $1.0 million net profit within 12 months).His initial corporate experience was gained during the 1970's as V.P. - Comptroller (Chief Accounting Officer) of Studebaker-Worthington, Inc., a $1.5 billion NYSE–listed multinational firm, after serving as Executive V.P. & CFO of Finserv Corp., Studebaker's wholly owned financial services arm; his accomplishments included co-management of a $100 million Corporate Debenture offering as well as two $100 million Bank Revolving Credit Lines and several $25-plus million secured credit lines.
He also was a co-founder of three separate captive leasing/finance/insurance subsidiaries.
Bruce's first job following college was as Senior Auditor (and Trainer) at Arthur Andersen & Co., the then-largest (and top-rated) Big 8 CPA firm at its key New York, NY office.
Bruce was also active in the Orange County, CA nonprofit community before his 2007 relocation to Indiana, serving on the Board of Directors at Orange County Head Start, Inc. ("OCHS"), a $37 million federally-funded education and healthcare program for low-income, minority pre-school children and their families, and as OCHS' Board Treasurer and Chairman of its Finance and Audit Committees.Bruce also served on the Board at 2-1-1 O.C., a county/community-funded communications and resource facilitator, and as a member of 2-1-1's Governance and Audit Committees; he also worked closely with the Executive Director of the not-for-profit Volunteer Center of Orange County.
Bruce received his B. S. degree in Business Administration (Accounting) from Lehigh University (Bethlehem, PA) and obtained his CPA certification from the State of New York.He also had the honor to participate in a company-paid summer session of the Financial Executive Management Program at Harvard Business School.
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