The gateway to everything entrepreneurial at Cornell University

Cornellians in Private Equity

Lester Knight

M.B. A. '81, B.S. '80

Founding Partner
RoundTable Healthcare Management (Lake Forest, IL)

Background

Mr. Lester B. Knight, III is the Founding Partner since February 2001 and Co-Chairman since July 2010 of RoundTable Healthcare Management, LLC. Mr. Knight was also the Managing Partner at the firm from February 2001 to July 2010. Together with Mr. Damico, he is responsible for setting the overall strategic direction and management of the firm. He works closely with the operating and transaction teams in evaluating and monitoring the firm’s investments. Mr. Knight has over 30 years of strategic, operational, and senior management experience in the healthcare industry. Prior to this, he served as the Chairman and Chief Executive Officer of Allegiance Corporation from September 1996 to February 1999. Mr. Knight assumed this position after spin-off from Baxter in 1996. He led the company’s growth to $4.5 billion in annual revenue and to 20,000 employees. During his tenure the stock price increased from $7.50 at the time of the spin-off from Baxter to $50.19 when the merger with Cardinal Health closed. Mr. Knight served as an Executive Vice President of Global Hospital Businesses at Baxter International from 1992 to 1996 and as the Corporate Vice President of Baxter International from 1981 to 1996.

Education

Mr. Knight holds an M.B.A. in 1981 and a B.S. in Industrial Engineering in 1980 from Cornell University.

Board Affiliations

Mr. Knight served as the Chief Executive Officer of Baxter International from 1995 to 1996 and joined Baxter Healthcare Corporation in 1981. He is the Chairman of Renaissance Acquisition Holdings LLC. He serves as the Non-Executive Chairman of Salter Labs and Renaissance Pharma. Mr. Knight has been Non-Executive Chairman of Aon Corporation since 2008 having served on the board since 1999. Mr. Knight serves as a Director of Evanston Northwestern Healthcare, Northern Star Broadcasting, and Junior Achievement of Chicago. Mr. Knight served as the Vice Chairman and Director of Cardinal Health, Inc. from February to June 1999 and successfully led the merger and integration of Allegiance and Cardinal Health. He was a Director of Baxter International, Inc. from 1995 to 1996. Mr. Knight currently serves on the Board of Directors of the Advanced Medical Technology Association. He is also a Trustee at Northwestern University. He also serves as the Chairman of the Aon Foundation. He also served as the Chairman and Director of The Baxter Allegiance Foundation.