Redefining the Classroom

Healthcare executive is 2013 top business alum

Posted: April 27th, 2013

DISTINGUISHED ALUMNUS – Lake Superior State University’s School of Business Distinguished Alumni Award recipient Victor Breed, right, receives his citation from mentor and business professor Madan Saluja and David Finley, left, dean of LSSU's College of Business and Engineering. Breed accepted his honor during the School’s annual graduate recognition dinner at the Sault Golf and Country Club in Sault Ste. Marie, Mich., on April 13. (LSSU/Drew Putvin)

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SAULT STE. MARIE, Mich. -- Lake Superior State University’s School of Business has presented its 13th distinguished alumni award to Victor Breed, chief financial officer of Genoa Holding Company, Inc., of Seattle, Wash. The award recognizes Breed's successful career in growing medical and healthcare services businesses through marshalling and managing the application of private equity and venture capital.

Breed accepted his honor during the School’s annual graduate recognition dinner at the Sault Golf and Country Club in Sault Ste. Marie, Mich., on April 13.

“I am very surprised and honored to be named a distinguished alumni”, Breed said. “Lake Superior prepared me very well academically, and helped me develop important analytical and decision making skills. I am fortunate and thankful for the excellent experience I had at LSSU.”

Genoa Healthcare builds and operates on-site, full-service pharmacies for the mental health community. Its vision is to become the leading national provider of essential services to individuals with mental illnesses and those involved in their care.

"Vic Breed embodies the attributes that we hope to instill in all of our graduates. He has had an accomplished career, given back to his community via service, and stayed connected to his alma mater," said David Finley, dean of the College of Business and Engineering. "Vic is a wonderful role model for our students and someone of whom we are very proud!"

After graduating from Lake Superior State University in 1982 with an accounting degree, Breed worked for 14 years with Ernst & Young, initially in Marquette, Mich., for three years, before transferring to the Seattle, Wash., office.

He left public accounting in 1996 to begin a career in senior corporate management, most recently with a series of private companies in the healthcare industry. After two years as chief financial officer of a public company, he joined HBS International, Inc., a venture-backed startup in the healthcare IT industry, as chief operating officer and chief financial officer. After the senior management team grew the company, Breed then worked closely with the chief executive officer to negotiate HBS International's sale to Solucient, LLC, a private-equity financed company that provides clinical and financial analytical tools to hospitals.

Breed was appointed Solucient's senior vice president for strategic development, where he worked on partnerships, joint ventures, and strategic alliances. After the company went through a series of acquisitions, he advanced to senior vice president and general manager Solucient's business unit that provided operational resource assessment products to hospitals.

Then Breed was tapped as executive vice president for finance and operations at ClearMedical, Inc., a venture-backed company in the medical device industry. He managed operational and administrative functions for production, engineering, regulatory affairs, finance and accounting, human resources and information technology.

When Breed joined Genoa in 2006 as chief financial officer, it had 15 pharmacies. Today it has more than 100 pharmacies across the country. Breed's job has him working closely with Genoa's board of directors and its CEO and management team in developing company strategy and assessing company performance. He manages investor relations and negotiates and oversees the company's banking relationships. He is responsible for all accounting, tax, cash and treasury management, billing and receivables management, risk management, and oversees the IT, data management and reporting functions.

Victor Breed lives in the Seattle area with his wife, Alene, and sons Sam, 19, and John 17. Sam is pursuing a business degree at the University of Portland, while John is finishing his junior year in high school.

Breed is actively involved with youth sports programs, has served on the Board of Community Services for the Blind and Partially Sighted, and the board of the Make-a-Wish Foundation of Washington.

He maintains professional affiliations with the American Institute of Certified Public Accountants and the Washington Society of Certified Public Accountants.

"Victor is probably the most focused student I've ever had the pleasure of teaching," said Breed's former professor and mentor, Madan Saluja, who is coming into his 44th year as faculty in the School of Business at Lake State. "It doesn't surprise me that Victor has made a career out of growing companies that help so many people."

Breed joins 12 others who have received the School of Business Distinguished Alumni Award, a listing that includes corporate presidents, law partners, and executive officers engaged in finance, manufacturing, banking, insurance, energy sectors throughout the United States and Canada.

Run a Web search on "LSSU School of Business" to read more about studying accounting, economics, finance, and business at Lake Superior State University.


CONTACT: Tom Pink, 906-635-2315,; John Shibley, 635-2314,