Creating a new industry is not for the faint-hearted. What attracts people to InstyMeds and unites all our teammates is the passion for improving the care experience for patients and providers and patients alike.
We are passionate about getting prescription medications to patients round-the-clock so that they can feel better faster. We are passionate about making sure that providers can wow their patients by offering prescriptions at the point of care. And we are thrilled to contribute to healthier communities knowing that 94% of InstyMeds prescriptions are filled by patients as opposed to 70% average industry fill rates.
Each member of our leadership team has personally experienced problems with getting prescriptions for their loved ones at some point of their lives. Those experiences and their passion for expanding access to medications is what drives them to make InstyMeds available to more patients in new markets.
Chief Executive Officer
Mr. Schraut has been CEO since 2005. Throughout his distinguished career he has developed startup companies in revolutionary industries into successful businesses. Under his leadership InstyMeds has been transformed from a company with operations in a single state to an international network of dispensers that have successfully dispensed over 4 million prescriptions to patients from all 50 states and on three continents. He pioneered the innovation and development of three new industries: physician automation, home theaters and direct-to-patient dispensing.
Mr. Schraut started his career in the healthcare information industry as a co-founder of Rovak, Inc., a provider of practice management software. He served as President of the Mid-Range Division of lnfoCure after Rovak was simultaneously rolled into InfoCure and consummated its IPO. Subsequently, Mr. Schraut served as CEO of Audio Video Planners, a top US custom electronic installation firm and consulted for Discus Dental of Los Angeles, CA, guiding them with the creation of practice management and clinical software for dental specialists.
Chief Financial Officer
Mr. Zeman joined InstyMeds in 2002 with over 20 years of experience in dealing with public and private, large and small companies. His financial management expertise and business acumen have been instrumental in InstyMeds expansion from one dispenser to almost 200 nationwide. At InstyMeds he developed financial systems, policies and procedures to meet the needs of a rapidly growing company. Mr. Zeman has a wide range of experience which spans accounting and reporting, capital management and equity transactions (IPO), investor relations, mergers & acquisitions, financial modeling, human resources, product development, administration and strategic planning. During his career, Mr. Zeman held various positions at Deloitte & Touche, and was CFO at ARM Financial Group and Quantech Ltd. Mr. Zeman received a BS degree in accounting with high distinction from the University of Minnesota.
Director of Engineering
Mr. Vadnais joined InstyMeds in 2003 with extensive engineering management experience in the areas of automated production systems and remote systems monitoring via the Internet. With over 25 years of product development and manufacturing experience in early stage businesses, Mr. Vadnais has fully applied his expertise to the rapid advancement of the InstyMeds design. Combining his design knowledge with his supervisory responsibilities for all aspects of the manufacturing process, he has accelerated numerous production efficiencies and cost reductions. He has also developed cost-effective global shipping processes and implemented a national field service organization. Throughout his career, he has held management positions at GeoDigm Corporation, FSI International, Emerson Electric (Rosemount Engineering), and Seagate Technology. Mr. Vadnais earned his BS degree in Mechanical Engineering from North Dakota State University.
Vice President of Sales and Account Management
Mr. Bang has been with InstyMeds since 2006. During that time, he has developed operations, sales and marketing efforts that led to contracts in 34 states and three countries. Currently he is leading the Client Operations team. He is a senior healthcare sales, marketing and operations executive with over 30 years of experience. Most recently Mr. Bang worked with the Pyxis division of Carefusion, a leading provider of automated medication dispensing systems for the hospital in-patient market. Previously, he has worked with other high technology healthcare and startup companies including Cerner and GeoDigm Corporation to bring new technologies and services to the market. Mr. Bang holds an MBA from the University of St. Thomas in St. Paul, Minnesota. He holds a bachelor degree in Finance and Management from Minnesota State University, Mankato.
Michael Burns, RPh
Vice President of Pharmacy Services
Mr. Burns is a Registered Pharmacist and joined InstyMeds in January of 2017. He provides leadership and oversight for several departments including Drug Distribution, Medication Services, Regulatory Compliance and the 24/7 Patient Service Center. Mr. Burns has enjoyed an extensive and successful career in various areas of pharmacy and healthcare. He brings to InstyMeds a high level of insight and expertise in operational and performance management as well as innovative strategies for growth.
Previously Mr. Burns led the multi-state pharmacy business unit for a Fortune 500 company, owned and operated multiple retail pharmacy locations, founded a health and wellness startup and held leadership positions with various other companies including CVS.
Board of Directors
Mr. Kohler has over 20 years of experience in portfolio management, including venture capital and small cap publicly traded equities. He is currently Chief Investment Officer and Portfolio Manager with Blue Clay Capital. He was formerly with Whitebox Advisors for 11 years, most recently as a partner and Portfolio Manager. Previously, Mr. Kohler spent 13 years with Okabena Investment Services that manages the Dayton-Hudson family assets. Mr. Kohler earned a BA from the University of Minnesota and an MBA from Cornell University’s Johnson School with concentrations in marketing and finance.
Mr. Sprenger is the retired President and CEO of Allina Health System, an integrated healthcare system comprising 13 hospitals and 42 clinics. Mr. Sprenger had been a hospital administrator in the Twin cities for more than 35 years. Named in 1992 to head HealthSpan, Mr. Sprenger had been President and CEO of LifeSpan, Inc., parent of Abbott Northwestern Hospital, Inc., in Minneapolis since 1982. He became President and CEO of Abbott Northwestern Hospital in 1975, serving as CEO until 1993. Mr. Sprenger is currently the Chair of the Minnesota Orchestra Board of Directors and serves on the Board of Global Market of Minneapolis.
Robert Van Tassel, MD
Dr. Robert Van Tassel received his undergraduate degree and Doctorate of Medicine from the University of Minnesota. He completed his residency in internal medicine at Hennepin County Medical Center in Minneapolis and a fellowship in cardiovascular disease at the University of Minnesota Hospital. He served two years as a flight surgeon in the United States Air Force. Dr. Van Tassel is a board certified cardiologist and served as a Senior Consultant in Cardiology at the Minneapolis Heart Institute at Abbott Northwestern Hospital in Minneapolis and as a Clinical Professor of Medicine at the University of Minnesota until his retirement in 2010.