Weill Cornell Dean’s Council
After earning a doctor of medicine from the University of Pennsylvania School of Medicine and an MBA from Wharton, Mitchell Blutt went on to launch the health care investment business at JPMorgan Partners and subsequently founded Consonance Capital. In addition to his role as an instructor at Weill Cornell Medical College in New York City, Mitchell Blutt serves on its Dean’s Council.
The Weill Cornell Medical College Dean’s Council exists to help advance research, patient care, and instruction in the Weill Cornell community through the efforts of its members. Dedicated to philanthropy and major giving to the college, Dean’s Council members build relationships with Weill Cornell’s best physicians and faculty while learning more about how their contributions advance positive change in the medical field.
Dean’s Council donors are in turn recognized through a variety of societies and appellation giving opportunities, such as endowments for student scholarships and research. For instance, The Lewis Atterbury Stimson Society holds a recognition luncheon for its donors every spring. Those that contribute to the Council also receive a newsletter with information about how the money is being spent.
Weill Cornell Medical College
Dedicated to the advancement of medical science, Dr. Mitchell Blutt has promoted and supported research in both the public and private sectors. Dr. Mitchell Blutt leads as CEO of healthcare investment group Consonance Capital and serves on the Dean’s Council of Weill Cornell Medical College.
In July of 2017, researchers at Weill Cornell Medical College announced the creation of a dissolvable device that could decrease the risk of damage to internal organs during the closing phase of surgery. The device was developed largely due to the practice experiences of Dr. Jason Spector, a plastic surgeon and professor at Weill Cornell. Noting that medical science at the time offered no way of protecting the vital organs during surgical wound closure, thus leaving many patients at risk of internal damage, he consulted with biomedical engineering professor Dr. David Putnam.
Dr. Putnam reported that his graduate student, Nicole Ricapito, had developed a material that was not only strong enough to protect intestinal tissue and flexible enough to pass through a minimally-invasive surgical incision, but also capable of dissolving in the patient’s body. Drs. Putnam and Spector used this compound, made of polyethylene glycol and dihydroxyacetone (DHA), to craft a device that effectively protected mouse intestines during abdominal suturing and then rapidly dissolved in the abdominal cavity.
The researchers found that because DHA and polyethylene glycol both dissolve when exposed to water, the device would break down in less than three hours with no lasting effects. Encouraged by these results, the researchers are currently moving toward pre-clinical testing, to ensure that the technology is safe and effective enough to introduce into the commercial market.
Noted as the first physician to be a private equity investor in health care, Mitchell Blutt served as an executive partner at JPMorgan Partners prior to founding Consonance Capital, where he serves as CEO. Mitchell Blutt’s New York-based company invests in private health care firms situated in the lower middle market.
Pennsylvania-headquartered KEPRO was one of the companies in which Consonance Capital invested. KEPRO was founded by physicians in 1985 to provide care management and quality improvement solutions to lessen the unwarranted use of health care resources and improve patient outcome. Consonance Capital invested in KEPRO in 2014 and helped the company grow both organically and through acquisition.
With Consonance Capital’s investment, KEPRO purchased APS Healthcare, increased its national presence, added new customers, and introduced new services. Since its founding, KEPRO has helped 20 million people live healthier lives.
In May 2017, Consonance Capital announced that it had sold KEPRO, with terms undisclosed.