Mitchell J. Blutt

Mitchell J. Blutt is an American physician-businessman. He is one of the first physicians to play a prominent role on Wall Street^[1] by drawing on his medical training to identify investment potential in healthcare companies. He is the founder and CEO of the New York-based healthcare investment firm, Consonance Capital, and a former Executive Partner of J.P. Morgan Partners. He is also a Clinical Assistant Professor of Medicine in the Department of Medicine at Weill Cornell Medicine and the Graduate School of Medical Sciences of Cornell University.

Mitchell Blutt

Physician & Businessman

In 1978, he graduated from the University of Pennsylvania. Blutt created his own undergraduate course of study.^[1] As a graduate of the University of Pennsylvania School of Medicine (1982) he completed his medical residency at the New York Hospital/Cornell Medical School (1985). He held the Robert Wood Johnson Foundation Clinical Scholars Fellowship at Penn while simultaneously receiving his MBA from Wharton (1987). Blutt was hired in 1987 by what became J.P. Morgan Partners.^{[citation needed]} From 1987 to 1999, Blutt spent four days at his investment office and one day a week at Cornell University Medical Center to teach and see patients.^[1]

Consonance Capital

Blutt remains a Clinical Assistant Professor of Medicine at Weill Cornell Medicine. ^[2] In 2005, he founded Consonance Capital, an investment firm focused on equity investments in healthcare.^[3] Consonance Capital ultimately consisted of a hedge fund and a private equity fund. The hedge fund is managed by Consonance Capital Management. Blutt's original partners in the hedge fund were Dr. Benny Soffer and Kevin Livingston.^{[citation needed]} The hedge fun is no longer making new equity investments, actively managing investment positions or accepting investor capital. It is continuing to oversee various administrative and financial matters associated with its underlying funds. ^[4]

Blutt also launched a private equity program managed by Consonance Capital Partners with partners Benjamin Edmands, Stephen McKenna and Nancy-Ann DeParle.^[5] Consonance Capital Partners invests in privately owned healthcare companies. The PE fund completed its initial financing at $500 million^[6] and raised its second fund at $856 million in May 2020.^[7]

Professional Memberships and Services

Blutt has held memberships in associations and committees and served on boards, among them The Michael J. Fox Foundation for Parkinson's Research.^[8] He has contributed columns on “Intelligent Investing” for Forbes.^[9] He is a former trustee of the University of Pennsylvania and of Penn Medicine, the medical school and health system of Penn, of the Brearley School and was on past corporate boards of directors, including Cardinal Health and Fisher Scientific.^[9] Currently he is on the Board of Advisors, School of Arts and Sciences, University of Pennsylvania; the Board of Advisors of The Wharton School; and the Board of Fellows and Executive Committee of Weill Cornell Medicine, the medical school of Cornell University, where he also serves as Co-Chairman of the Dean's Council.^[10] Blutt also serves on the board and Executive Committee of The Commonwealth Fund, a health policy research foundation,^[11] where he is also the Chair of the Investment Committee. He is also the former Chairman of the University of Pennsylvania's Center for Health Incentives & Behavioral Economics (CHIBE) External Advisory Board.^[12] Blutt's philanthropy includes multimillion-dollar contributions to Penn; in 2007 his support was recognized with the School of Medicine's Alumni Service Award.^[1] In 2018 Blutt was awarded the Alumni Award of Merit, the highest award given by the University of Pennsylvania.^[13] Blutt has also supported music at Penn through endowing the Blutt Singer Songwriter Symposium, which has supported Lou Reed, Patti Smith, Graham Nash, Rufus Wainwright, Questlove, Nona Hendryx, and Japanese Breakfast.^[14] In addition, Blutt and his wife have gifted three presidential professorships to the University of Pennsylvania in each of the three schools he attended at Penn: the School of Arts and Sciences, the Raymond and Ruth Perelman School of Medicine and the Wharton School. ^[15]

Family

Blutt married Margo Krody, a former New York City Ballet dancer,^[16] in 1993. They have three children.^{[citation needed]}