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Mr. Toney has been the Managing Member of the investment advisory firm MedCap Management & Research LLC, the General Partner of MedCap Partners LP, an investment fund comprised of institutional and accredited investors that focuses on healthcare, life science, and medical technology companies that are publicly traded.
Since December 2001, Mr. Toney also has been Chairman and co-owner of RxList LLC, a company he formed that owns and operates the largest, most widely used prescription drug database on the Internet, www.RxList.com. RxList, one of the few profitable Internet companies, targets both medical professionals and healthcare consumers with its comprehensive prescription drug information.
Mr. Toney was Chief Executive Officer and President of HealthCentral (Nasdaq) from February to November 2001. He guided the company through the sale of its assets and business units to Nature’s Bounty (Nasdaq), MD Choice, Spinaway, and RxList LLC. He was Executive Vice President and Chief Financial Officer from July 1999 to February 2001. He focused on capital formation via a $21 million venture financing (MedVenture, Delphi, InterWest, Alta, Tenet Ventures) and an $83 million initial public offering (Lehman, H&Q). He also focused on mergers and acquisitions and identified, structured, and consummated six significant acquisitions utilizing common and preferred equity, debt instruments, and other securities.
Mr. Toney has more than a decade of Wall Street experience in institutional research and investment banking, and he has been investing in public and private healthcare and life sciences companies for more than 15 years. He initiated research coverage of over 75 publicly-traded companies. He also provided corporate finance services to public and private medical technology, medical informatics, and healthcare service companies and completed more than 50 investment banking transactions. Over the 12 years prior to forming MedCap, Mr. Toney has been directly involved in raising over $1 billion in equity financing.
From 1992-1999, as Senior Managing Director and equity shareholder of Pacific Growth | 