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Published on:

1st May 2019

491: When the Virtues of Organic Growth Trump M&A | Arthur Levine, CFO, Sensus Healthcare

Back in 2014, shortly after Arthur Levine first stepped into the CFO office at Sensus Healthcare, the fast-growing medical device company hit a sizable speed bump. A growing number of future Sensus customers were putting their purchases on hold as uncertainty around insurance reimbursements grew in relation to a review being conducted by The Centers for Medicare & Medicaid Services.

In order to quickly ease the company’s hefty appetite for cash, Levine and Sensus management executed a sizable layoff largely impacting the company’s sales team–while for the time being the healthcare company opted to leave its research and development team untouched.

Ultimately, reimbursements for Sensus offerings remained in place and product demand surged, allowing its 2015 revenues to jump 77 percent. Such news could not have been better timed for an initial public offering, a notion upon which Sensus acted in early 2016.

“We became one of the first companies to complete an IPO in 2016. Actually, we were the only Florida-based company to go public on a major exchange that year,” explains Levine, who had helped to restore the company’s sales function by green-lighting a flurry of new sales hires in 2015.

“I like the challenge of turning companies around,” says Levine, who quickly adds: “I also like periods of stability and a little less stress.” –Jack Sweeney 

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About the Podcast

CFO THOUGHT LEADER
CFO THOUGHT LEADER is a podcast featuring firsthand accounts of finance leaders who are driving change within their organizations.
We share the career journey of our spotlighted CFO guest: What do they struggle with? How do they persevere? What makes them successful CFOs? CFO THOUGHT LEADER is all about inspiring finance professionals to take a leadership leap. We know that by hearing about the successes — (and yes, also the failures) — of others, today’s CFOs can more confidently chart their own leadership paths across the enterprise and take inspired action.

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Jack Sweeney