Robert Q. Kreider, J.D., brings over 30 years of extensive financial and senior leadership in behavioral healthcare to the OPEN MINDS team. Mr. Kreider currently serves as the Senior Associate, Executive Project Lead, a position which allows him to utilize his vast repertoire of skills to successfully lead high-profile initiatives for OPEN MINDS. His areas of expertise include financial recapitalization, management and implementation, executive leadership and employee training, mergers and acquisitions and business development and streamlining.
Before joining OPEN MINDS, Mr. Kreider served as the President and Chief Executive Officer (CEO) of Devereux Advanced Behavioral Health, in Villanova, Pennsylvania. During Mr. Kreider’s 13 years as CEO, Devereux achieved positive operating margins every year, the fund balance increased by more than 50%, debt was reduced by more than 25%, cash and investments doubled, and net working capital decreased, positioning Devereux extremely well to face future challenges. Mr. Kreider is now providing consultation to the current CEO on a range of issues including healthcare integration, and mergers and acquisitions.
Prior to serving as the CEO, Mr. Kreider joined Devereux Advanced Behavioral Health as the Chief Financial Officer (CFO) after connecting with the organization as a financial consultant. At the Board’s request, he left his successful firm and joined the organization to execute his recommended plan. Within a year, the recapitalization plan was completed through simultaneous tax-exempt financings in four states, a new bank line of credit, a “AAA” rating on the debt through novel bond insurance strategy, and a reduction in bank borrowing using a novel financial derivatives strategy. These transactions reduced Devereux’s average cost of capital from 9% to 5%, saving more than $2 million per year, and were recognized as the corporate finance deal of the year for 1995 by the National Association of Corporate Treasurers and Treasury and Risk Management magazine.
Before joining Devereux, Mr. Kreider was Co-Chief Executive Officer and Managing Director of Fairmount Capital Advisors. At this organization Mr. Kreider acted as a financial advisor to health care organizations and financing authorities with respect to capital planning, asset management and debt financings.
Mr. Kreider earned his Juris Doctor in law, with honors in taxation, from the University of Pennsylvania Law School in Philadelphia, Pennsylvania. He earned his Master of Art in economics from the University of Pennsylvania in Philadelphia, Pennsylvania. Lastly, he earned his Bachelor of Science in management science, with honors, from Case Western Reserve University in Cleveland, Ohio.