Daniel E. Straus
From Wikipedia, the free encyclopedia
- Founder, chairman and CEO, CareOne LLC
- Chairman, CEO and President, Care Realty, LLC
- Founder, The Straus Group
- Co-founder, chairman and CEO, Aveta Inc.
- Chairman, InnovaCare Health
- Former Vice Chairman, Memphis Grizzlies
Daniel E. Straus | |
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| Born | 1956 (age 69–70) New York, New York, U.S. |
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| Years active | 1999–present |
| Website | danielestraus.org |
Daniel E. Straus is an American entrepreneur, investor, and philanthropist. He is the founder, chairman, and controlling shareholder of several operating businesses in healthcare services, real estate, and financial advisory activities, with reported combined revenues exceeding $5 billion.[1][2] Through his family office, The Straus Group, Straus has participated as a principal investor in transactions involving operating businesses, real estate development, private equity, venture capital, private credit, and sports and entertainment. He has also made philanthropic contributions to institutions including New York University School of Law and Columbia University.
Straus was born and raised in Brooklyn, New York. He earned an A.B. in political science from Columbia University.[2][3] He has also served on the Columbia College Board of Visitors.[4] He subsequently earned a J.D. from New York University School of Law in 1981.[2]
Prior to entering business, Straus practiced law as an associate at Paul, Weiss, Rifkind, Wharton & Garrison in New York City.[3]
Business career
Multicare Companies
In 1984, Straus left Paul, Weiss, Rifkind, Wharton & Garrison to co-found Multicare Companies Inc. with his brother, Moshael Straus, building on a portfolio of four nursing homes inherited from their father, Joseph Straus. Under his leadership as president and chief executive officer, Multicare expanded to more than 170 locations across the eastern and midwestern United States.
In 1993, Multicare completed an initial public offering and was listed on the New York Stock Exchange. The company was sold in 1997 to Genesis Health Ventures, Inc. for approximately $1.382 billion, including assumed debt.[5][6][7]
CareOne
Following the sale of Multicare, Straus founded CareOne LLC in the late 1990s.[2] The company develops, operates, and manages inpatient healthcare properties in the New York metropolitan area and surrounding regions. Its services include independent living, assisted living, memory care, hospice, home care, subacute care, and inpatient rehabilitation. The company reports having served more than 100,000 individuals since its founding.[8]
Aveta and InnovaCare Health
In the early 2000s, Straus founded Aveta Health, a physician practice management company operating primarily in California.[9] Aveta was sold to a subsidiary of UnitedHealth Group in 2012.[10] He subsequently founded InnovaCare Health, which provides Medicare Advantage plans and serves approximately 500,000 members in Puerto Rico.[11][12] InnovaCare was recapitalized in 2019.[11] Straus served as its chairman and controlling shareholder throughout his tenure at both companies.[9]
Other Operating Businesses
Straus has also been associated with several healthcare-related businesses, including Partners Pharmacy, Tech Pharmacy, Ascend Hospice, Ascend Homecare, and Avantum Pharmacy.
He has also participated in the development and construction of healthcare and residential real estate projects in the northeastern United States.
The Straus Group and investment activities
Straus manages The Straus Group, a family investment office that invests in real estate, private equity, private credit, hedge funds, venture capital, sports, and entertainment.[13]
Real estate
33 East 74th Street (Whitney Condos)
Straus developed 33 East 74th Street on the Upper East Side of Manhattan, known as the Whitney Condos. In 2010, through an affiliated entity, he acquired a group of brownstone and townhouse properties from the Whitney Museum of American Art following the museum’s relocation to the Meatpacking District.[14]
The project involved the renovation and conversion of the existing buildings into condominium residences while retaining their exterior facades. Architectural work was carried out by Beyer Blinder Belle, with interior design by Alexandra Champalimaud.[15] The development was completed in 2016 and generated reported sales of approximately $255 million.[14]
181 MacDougal Street
Straus also developed 181 MacDougal Street, a seven-story mixed-use building in Greenwich Village, Manhattan, containing 16 residential units and one commercial unit.