Daniel E. Straus is an American

business executive A business executive is a person responsible for running an organization, although the exact nature of the role varies depending on the organization. Executives run companies or government agencies. They create plans to help their organizations gr ...

entrepreneur Entrepreneurship is the creation or extraction of economic value in ways that generally entail beyond the minimal amount of risk (assumed by a traditional business), and potentially involving values besides simply economic ones. An entreprene ...

venture capitalist Venture capital (VC) is a form of private equity financing provided by firms or funds to startup, early-stage, and emerging companies, that have been deemed to have high growth potential or that have demonstrated high growth in terms of number ...

, real estate developer and

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

. 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 The Memphis Grizzlies (referred to locally as the Grizz) are an American professional basketball team based in Memphis, Tennessee. The Grizzlies compete in the National Basketball Association (NBA) as a member of the Southwest Division of the ...

professional basketball team.

Career

Straus was born to an

Orthodox Jewish Orthodox Judaism is a collective term for the traditionalist branches of contemporary Judaism. Theologically, it is chiefly defined by regarding the Torah, both Written and Oral, as literally revealed by God on Mount Sinai and faithfully tra ...

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 Columbia University in the City of New York, commonly referred to as Columbia University, is a Private university, private Ivy League research university in New York City. Established in 1754 as King's College on the grounds of Trinity Churc ...

, graduating with a

B.A. A Bachelor of Arts (abbreviated B.A., BA, A.B. or AB; from the Latin ', ', or ') is the holder of a bachelor's degree awarded for an undergraduate program in the liberal arts, or, in some cases, other disciplines. A Bachelor of Arts degree ...

degree in

political science Political science is the scientific study of politics. It is a social science dealing with systems of governance and Power (social and political), power, and the analysis of political activities, political philosophy, political thought, polit ...

. Straus went on to earn a J.D. degree from

New York University School of Law The New York University School of Law (NYU Law) is the law school of New York University, a private research university in New York City. Established in 1835, it was the first law school established in New York City and is the oldest survivin ...

, and practiced law at

Paul, Weiss, Rifkind, Wharton & Garrison Paul, Weiss, Rifkind, Wharton & Garrison LLP (known as Paul, Weiss) is an American multinational white-shoe law firm headquartered in New York City. Paul, Weiss's core practice areas are in litigation and corporate law. The firm has histori ...

New York City New York, often called New York City (NYC), is the most populous city in the United States, located at the southern tip of New York State on one of the world's largest natural harbors. The city comprises five boroughs, each coextensive w ...

. 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 chief executive or managing director, is the top-ranking corporate officer charged with the management of an organization, usually a company or a nonprofit organization. CEOs find roles in variou ...

and president of the new company, which owned four

nursing home A nursing home is a facility for the residential care of older people, senior citizens, or disabled people. Nursing homes may also be referred to as care homes, skilled nursing facilities (SNF), or long-term care facilities. Often, these terms ...

s 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 A state-owned enterprise (SOE) is a business entity created or owned by a national or local government, either through an executive order or legislation. SOEs aim to generate profit for the government, prevent private sector monopolies, provide goo ...

, 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 chair, also chairman, chairwoman, or chairperson, 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 gro ...

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, New York, that carries northbound one-way traffic. It runs from Madison Square (at 23rd Street) to meet the southbound Harlem River Drive at 142nd Stree ...

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

, a professional basketball team in the

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

. 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 Fenway Park is a ballpark located in Boston, Massachusetts, less than one mile from Kenmore Square. Since 1912, it has been the home field of Major League Baseball's (MLB) Boston Red Sox. While the stadium was built in 1912, it was substantia ...

Boston Boston is the capital and most populous city in the Commonwealth (U.S. state), Commonwealth of Massachusetts in the United States. The city serves as the cultural and Financial centre, financial center of New England, a region of the Northeas ...

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. B ...

(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