Michael Korslin

Digital Health EIR

2022

Lotsa Helping Hands (https://lotsahelpinghands.com/) is a digital health organization within an incubation studio at Manifold Group, a Chicago-based venture fund. Lotsa has helped over 100,000 family caregivers organize 2.5 million members and volunteers (friends, family, neighbors, co-workers, etc.) around the non-clinical care needs of loved ones.

Digital Health EIR

2021

Manifold provides digital transformation (DX) and innovation services to help companies optimize, modernize, and grow operations with technologies like cloud computing, applied AI, analytics, and SaaS. We focus on “opportunity” technologies that can create new leverage for companies and startups, and partner with businesses to shape and adapt them to their purposes. Industries include Healthcare, Industrials, Energy and Renewables, and Education. Themes include data intelligence, AI readiness, smart automation, data products, and decision support. Our venture arm identifies, invests in, and supports the next generation of great technology companies.

Board Advisor

2018

CEO

2017 - 2018

CFO & CSO

2016 - 2017

Business Advisory (client interim-COO)

2018 - 2021

Partnering with client CEO, CFO, board, and management team, Michael organized and led the successful turnaround of a PE-owned, $400M business-to-consumer, homecare medical supply business, resulting in increased sales from $200M to $400M, increased EBIT from $0M to $30M, and improved enterprise value from $75M to $300M. To achieve those results, Michael collaborated with the client team to organize the “Industry 4.0” digital transformation of sales, order fulfillment, and voice of customer processes, and improve alignment of organization structure, decision rights, and incentive compensation plans.

Instructor

2017 - 2019

COO & CFO

2004 - 2016

Under Michael’s leadership, Centrad Healthcare became the market leader in providing enteral, urological, ostomy, tracheostomy, and wound care supplies to long-term care facilities, serving 28,000 patients and 3,200 skilled nursing facilities (SNF) across all 50 states. Centrad delivered value to its customers by leveraging its revenue cycle management expertise, processes, and software to qualify patients for third party payer reimbursement, thereby avoiding unnecessary cost for the SNF and its patient base. At Centrad, Michael led strategic panning and implementation, as well as administered and managed the annual operating plan. During his time at Centrad, he worked with the team to scale market share 10x, via organic and acquisitive growth (assessed and integrated 10 acquisitions); re-engineered the business model to eliminate inventory, reduce accounts receivable, and improve productivity; raised growth capital from banks and private equity investors; divested non-core business units; led the development of the Mission, Vision, and Values, aligning the team around them; and recruited key team members to execute on the strategy.

Investment Banker

2003 - 2004

M.L. Stern & Company was a boutique investment banking firm that provided financial advisory, business valuation, and private placement services, as well as stock brokerage services. M.L. Stern was founded in 1980 and was headquartered in Beverly Hills, California, with additional offices in Carmel, Sacramento, San Diego, and San Francisco, California. Michael held the following licenses while at ML Stern: Series 7, Series 63, & Series 65. He structured investment portfolios of low-risk, tax-free, municipal bonds for high net worth clientele and built business models to optimize client acquisition and retention.