Firm appoints healthcare industry veteran to lead mission of socially conscious investing
QuestCap has appointed Doug Sommerville, a veteran with broad leadership experience in the North American pharmaceutical and healthcare technology industries, as its new chief executive officer and as a director of the company.
In a statement, the social-impact investment company said it expected Sommerville’s experience to “enhance its vision of bringing together industry experts to lead its mission of socially conscious investing.”
His professional history includes a stint as head of country for Canada at Teva Canada, a subsidiary of Teva Pharmaceutical Industries, which is known as the leading provider of generic medicines in the world.
Recognized as Teva’s third-largest global subsidiary, Teva Canada boasted sales in excess of $1.3 billion. Sommerville oversaw all aspects of its commercial, distribution, demand planning, and customer operations until his retirement in 2018. Over that time period, he was also the Chairman of the Canadian Generic Pharmaceutical Association.
Prior to that, he was global vice president, infusion systems with Baxter Healthcare International, which stands among the largest medical, pharmaceutical, and technology companies in the world. He was responsible for Baxter’s infusion-pumping devices and intravenous administration sets worldwide, as well as the company’s pain management and ambulatory infusion devices.
“I am pleased to assume the responsibility of leading QuestCap as we open up new markets and strike new partnerships,” Sommerville said.
In taking the CEO position, he succeeds Neil Said, who resigned but will continue to provide legal consulting services to the company.
To allow for Sommerville’s entry into the board, Stan Bharti has resigned as a director of the company and Scott Moore has been named as the new executive chairman.
A business executive with more than 25 years’ experience in the resource and durable goods sectors, Moore has worked in various companies to help raise over $1 billion in equity since 2006. He is the former president and CEO of Dacha Strategic Metals and Executive Vice President of Sulliden Mining Capital Inc.