Daniel E. Straus: Trusted Leader of CareOne & InnovaCare Health
Daniel E. Straus has acted as the principal investor in hundreds of transactions involving both operating businesses and real estate totaling several billion dollars. Mr. Straus rose to prominence in the 1980’s and 1990’s as the President and CEO of The Multicare Companies, a NYSE traded corporation that he grew from three health care properties into a healthcare empire of over 170 locations spread across the East and Midwest of the United States. Multicare was sold to another large healthcare operator in a highly publicized healthcare real estate transaction in the late 1990’s. Currently, Mr. Straus serves as Chairman, CEO and controlling shareholder of several healthcare services businesses with revenues totaling in excess of $5 billion. These businesses were each built and/or founded by Mr. Straus.
CareOne, founded by Mr. Straus in the late 1990’s, has developed, operated and managed more inpatient healthcare properties in the New York Metropolitan area than any other operator. With Mr. Straus’ vision to redefine healthcare, his company has become the market-share leader for senior living, subacute care and inpatient rehabilitation in the northeast of the United States. Over 100,000 older adults have been cared for by the CareOne family of senior living and rehabilitation centers since its founding. His portfolio of senior living properties is regarded in the industry as the gold standard for design and programming and has garnered national attention and awards for the quality of care, and architectural and design elements.
Mr. Straus also founded and built InnovaCare Health, one of the largest Medicare Advantage health plans in the United States, which provides health insurance to 500,000 seniors in Puerto Rico, and currently serves as its Chairman of the Board and controlling shareholder. Mr. Straus previously operated Aveta Health, a large physician practice management company located in Southern California, which he sold to United Healthcare in 2012.
In addition, Mr. Straus’ portfolio of companies include: Partners Pharmacy, an institutional pharmacy that provides for the needs of over 40,000 people in several states; Ascend Hospice, which cares for thousands of patients annually; Avantum Pharmacy, which provides oncology medication to cancer patients; and Ascend Homecare.
Outside of the healthcare services, through his family office eponymously named The Straus Group, Mr. Straus invests in a wide-range of investment types, including, but not limited to, real estate, hedge funds, private credit and equity, financial products, and sports-related investments.
Prior to founding Multicare, Mr. Straus was an attorney with Paul, Weiss, Rifkind, Wharton & Garrison LLP in New York City. Mr. Straus holds an A.B. in political science from Columbia University and a J.D. from New York University.
Mr. Straus has also been and remains as dedicated and committed to philanthropy as he has been to his business interests. He supports several charitable causes through his own foundation and through charitable foundations he has created at his various companies. An area of particular interest for his philanthropic endeavors has been to provide for and care for the needs of the thousands of employees who are part of Mr. Straus’ companies and the communities in which his businesses operate. Accordingly, Mr. Straus personally contributed and organized funding intended to provide for the uninsured losses of his employees and their communities as a result of the devastation caused by Hurricane Sandy in 2012. Mr. Straus started and maintains a charitable fund to provide for the needs, beyond those covered by health insurance, of his employees who have been ill with cancer. Mr. Straus, through CareOne and together with his daughter, has successfully spearheaded large fundraising campaigns for the Valerie Fund, Breast Cancer Research Foundation, and the Make-A-Wish Foundation. Most recently, Mr. Straus led efforts to assist victims of the hurricanes in Puerto Rico, Texas and Florida in 2017. The fundraising effort for Puerto Rico in particular was by most measures the largest private citizen initiative to assist in rebuilding the island of Puerto Rico.