INVESTMENT TEAM

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DAVID ADAIR, MD, MBA

Co-Founder & Managing Director

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Dave has worked with the partners of Solas BioVentures since 2004 and was a founding member of the firm in 2014. He currently focuses on investments in medical device and therapeutic companies. Board certified in Maternal-Fetal Medicine, Obstetrics and Gynecology, and Hypertension, with special expertise in Critical Care, Dave is a long-time physician, educator, administrator, innovator, and biotech/med-tech investor with nearly 20 years of experience in angel and venture investing. Dave recently retired from his position as Professor and Vice Chairman of the Department of Obstetrics and Gynecology at the University of Tennessee College of Medicine.  Dave also retired from clinical practice after a 30 year career. Dave received a BS in Biology from Morehead State University, where he is Hall of Fame member, is a recent graduate from University Tennessee Chattanooga with his Master of Business Administration with a concentration in Healthcare and earned his medical degree from the Joan C. Edwards College of Medicine at Marshall University in 1990. He completed residency at the University of Florida Health Science Center and Fellowship training at Wake Forest University.

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MARK HACKETT, JD

Co-Founder & Managing Director

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Mark is an attorney who has spent nearly 20 years practicing extensively in the life sciences and corporate law areas, including serving over 10 years as General Counsel to a biopharma and med-tech company specializing in pregnancy health. Mark has handled a wide range of life science matters, including company financing, investor representation, M&A, strategic alliances, technology licensing, regulatory, IP strategy, and clinical, manufacturing and distribution contracting.  Mark earned his B.A. from Tulane University and his J.D. from Vanderbilt University School of Law. Formerly a partner at a large, national law firm, Mark co-founded Evans Harrison Hackett PLLC in 2007, where he serves as managing partner.  After managing several successful angel group investments, Mark and Dave teamed up with Casey to form Solas BioVentures in 2014.

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MICHAEL HOEY, PHD, MBA

General Partner

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Michael is a serial entrepreneur, founding eight medical products companies, one agricultural company, and one musical products company.  Prior to that he taught and performed research at the University of Minnesota Medical School, the College of Engineering Sciences, and the Carlson School of Management.  Professor Hoey also taught in the School of Biological Sciences at Hamline University in St. Paul, Minnesota.  Michael was also Executive Chairman of a financial institution that he directed from $150M to more than $2.5B. Michael is a prolific inventor with over 200 patents granted and/or applied for.  Collectively, the start-up medical companies he has been involved in raised $400 million of capital.  Four of those companies combined have harvested greater than $1.5B and two more are commercializing product.  He also harvested the musical company, and the agricultural company is in commercialization.

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SCOTT RADER, MBA, AIF

Principal & Senior VP

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Scott has over 25 years of experience in investment management and banking.  At Solas, his focus is on capital raising, investor relations, compliance, and corporate finance.  He is also a mentor for Life Science TN, which incubates early stage life science companies domiciled in the State of TN.  Prior to joining Solas, Scott was a Senior Vice President for Business Development at Argent Financial Group, a $25B trust and specialty asset manager with offices across the Southern U.S.  Scott earned his MBA in Finance from Wright State University and his BS in Aerospace Engineering from the University of Michigan.

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JARRETT MILLSAPS, FACHE

Managing Director & Senior VP

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Jarrett Millsaps, FACHE, serves as Managing Director and Senior Vice President of Solas BioVentures. A Venture Capital firm that invests exclusively in the Life Science industry, Solas focuses primarily on early and development stage Biotech and Medtech companies seeking to improve patient outcomes at scale. Headquartered in Chattanooga, Tennessee, Solas has global coverage with other principal locations in Nashville, Tennessee, Research Triangle Park in North Carolina, and the Twin Cities Metroplex in Minnesota.  

 

Prior to joining Solas, Jarrett spent two decades as a hospital operator in facilities throughout the southeast, including a decade as a CEO.  He has significant experience raising the clinical, cultural, and competitive profiles of his teams and facilities, including having two facilities under his leadership place in the top 5% of quality outcomes across the country as well as improving stakeholder engagement, physician and nurse retention, and margin growth.


Born in Chattanooga, Jarrett received his Bachelor of Science from the United States Naval Academy in Annapolis, Maryland, and started his career in the U.S. Navy as a line officer in the Surface Warfare and Naval Special Warfare communities, completing multiple deployments across the globe. He obtained his MBA in Finance from the Haslam College of Business at the University of Tennessee, is Board Certified in Healthcare Management, and is a Fellow of the American College of Healthcare Executives. He and his wife have been married for nearly 20 years and have two children. 

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MICHAEL ACKERMANN, PHD, MBA

Managing Director

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Dr. Ackermann serves as the co-founder and COO for Arrivo Management LLC. He is the founder of Magnatas, LLC, supporting healthcare companies and venture firms in strategy development, business planning, organizational effectiveness, and process improvement. Previously, he served as Senior VP for Global Commercial Solutions at Quintiles (IQVIA) leading the integration of clinical and commercial activities. Prior to Quintiles, Michael spent more than 18 years at Eli Lilly and Company where he served as the leader of the US Neuroscience Business Unit. He grew revenue to over $4B and led the unit's performance improvement, including the turnaround of major product, and overseeing two successful product launches. 

Michael holds a BS from Hampden-Sydney College in VA, a PhD in immunology from the Drexel University College of Medicine, and an MBA from Kenan-Flagler School of Business at UNC Chapel Hill. 

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DAVID BELITZ, MBA

Partner

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David Belitz currently serves as the Chief Executive Officer of The Lupton Company, LLC. He joined Lupton in 1997 and served as the controller and CFO before being appointed as the CEO in January 2012.  


Mr. Belitz is a founding general partner of the Chattanooga Renaissance Funds (I and II), a series of angel funds investing in seed and early-stage businesses in Chattanooga and the surrounding region. He also serves on the investment committee of the Benwood Foundation and the endowment committee of the University of Chattanooga Foundation. 


David holds a BS degree in Business Administration and a Master of Accountancy degree from the University of Tennessee at Knoxville. His Master of Business Administration (MBA) degree is from the University of Tennessee in Chattanooga.

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Christian Snyder

Analyst

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Christian Snyder earned his BA in Finance and Investing from the University of Tennessee at Chattanooga while playing middle linebacker. Using two more years of eligibility, he now pursues an MBA with a concentration in data analytics, with plans to study for the CFA. Since joining Solas, Christian has provided expertise about the SPAC markets and financial analytics of current portfolio companies.

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JOSHUA ECKELBERRY, MBA

Principal

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Joshua Eckelberry graduated with honors from East Tennessee State University with a BS in Biochemistry as a Mayme Frazier Scholar and then attended Quillen College of Medicine for two years on the nationally ranked rural health track before diverting to pursue an MBA in Healthcare Administration. While in school he pioneered Quillen's anatomy lab internship where he helped create the school's first digital dissector, served as president of the local American Medical School Association, helped negotiated a hospital staffing contract worth over $1M, and raised over $200K for area non-profit clinics. With his understanding of both the science and business sides of the life science industry, Josh helps translate and negotiate the optimal outcome for patients and the companies. Josh has a lifelong commitment to drive positive impact on the community and the world through leveraged change.

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