Daniel E. Straus is an American business executive, entrepreneur, venture capitalist, real estate developer and

philanthropist Philanthropy is a form of altruism that consists of "private initiatives, for the Public good (economics), public good, focusing on quality of life". Philanthropy contrasts with business initiatives, which are private initiatives for private goo ...

. He is the founder or co-founder of several health care companies such as CareOne LLC, InnovaCare Health, Ascend Home Health, Ascend Concierge Home Care, Ascend Hospice, Partners Pharmacy, The Straus Group, Multicare Companies Inc. He also became vice chairman of the Memphis Grizzlies professional basketball team.

Career

Straus was born to an Orthodox Jewish familyPalmer, Joanne. ''The Jewish Standard''
"The spirit of innovation: Daniel Straus of CareOne talks about investing, health care, and life"
16 February 2017. and attended Columbia University, graduating with a B.A. degree in political science. Straus went on to earn a J.D. degree from New York University School of Law, and became a lawyer for at Paul, Weiss, Rifkind, Wharton & Garrison in New York City. In 1984 Straus left the law firm to co-found the health care company Multicare Companies Inc. with his brother Moshael. Straus served as co-

CEO A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...

and president of the new company, which owned four nursing homes inherited from their father, Joseph. Under the direction of the Straus brothers, the company increased revenue and profitability through a combination of high-quality care, specialty services, high occupancy rates and profitable payer profiles. In 1993, Multicare Companies Inc. became a public enterprise, eventually selling to Genesis Health Ventures, Inc. in 1997 for $1.06 billion.Freudenheim, Milt
"Deal To Create A Big Chain In Health Care"
17 June 1997. Retrieved 25 January 2016. Following the success of Multicare, Straus continued to grow businesses in the healthcare industry. In 1999, Straus founded and became

chairman The chairperson, also chairman, chairwoman or chair, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the grou ...

and

of CareOne LLC, which operates over 50 nursing homes and assisted living facilities in the northeastern United States, admitting approximately 20,000 patients per year."Our Locations"
CareOne. Retrieved 3 May 2023. In 2006, Straus co-founded and is chairman and chief executive officer of Aveta, Inc., and InnovaCare Health Solutions, LLC, which are managed health plans. Straus also has holdings in other health care businesses such as Ascend Concierge Home Care, Ascend Home Health, Ascend Hospice, Care Realty, Care Missouri, CareVirginia, HealthBridge Management, and Partners Pharmacy. In addition to health care businesses, Straus founded and manages The Straus Group, which invests in hedge funds, sports and entertainment assets, private equity and real estate. In 2010, his JZS Madison, LLC company purchased 6 brownstones and 2 townhouses on

Madison Avenue Madison Avenue is a north-south avenue in the borough of Manhattan in New York City, United States, that carries northbound one-way traffic. It runs from Madison Square (at 23rd Street) to meet the southbound Harlem River Drive at 142nd Stre ...

in New York City for commercial and residential development.Vogel, Carol
"The Whitney Trims Its East Side Holdings"
14 October 2010. Retrieved 25 January 2016. Straus also founded Bridge Sports, LLC, which from 2012 to 2018 was a minority owner of the Memphis Grizzlies, a professional basketball team in the

NBA The National Basketball Association (NBA) is a professional basketball league in North America. The league is composed of 30 teams (29 in the United States and 1 in Canada) and is one of the major professional sports leagues in the United St ...

. Straus became vice chairman of the team in 2012.

Philanthropy

In 2014, Straus and CareOne LLC founded The CareOne Cancer Fund in honor of its longtime executive Dan Grimes, who was diagnosed with advanced lung cancer. The CareOne Cancer Fund was created to help support employees of CareOne during and after cancer treatments. The campaign hosted over 100 fundraising events and concluded with a concert at Fenway Park in Boston and the eventual donation of over $1.3 million.Fitzgerald, Beth
"CareOne Raises $1.3M In Honor Of Employee Fighting Cancer"
6 August 2014. Retrieved 25 January 2016.NorthJersey.com
"Local Business Raises Funds For Employee Fighting Cancer"
7 August 2014. Retrieved 25 January 2016. In 2016, Straus and CareOne LLC organized a charity event which raised $1.7 million for the

Breast Cancer Research Foundation The Breast Cancer Research Foundation (BCRF) is an independent, not-for-profit organization which has raised $569.4 million to support clinical and translational research on breast cancer at medical institutions in the United States and abroad. BC ...

(BCRF).Chana, Jas
"CareOne Ball Raises $1.7 Million for Breast Cancer Research"
10 February 2016. Retrieved 15 February 2016.

References

{{DEFAULTSORT:Straus, Daniel E. 1956 births American health care chief executives Living people Columbia College (New York) alumni New York University School of Law alumni Businesspeople from Englewood, New Jersey Paul, Weiss, Rifkind, Wharton & Garrison people