Our executive team brings proven experience and expertise in developing and commercializing innovative nuclear medicine products and technologies.

Executive Team

Stephen Merrick
Frank Scholz, Ph.D.
Paul Estrem, CPA
James T. Harvey, Ph.D.
Jeff Schaaf
Monica Andersen
Vice President, Human Resources
Jean-Noel David, MBA, MS
Vice President, Operations
Alison Hess, MBA
Adam Lynch
Vice President, Finance and External Affairs
Robert Perry
Jason Vinyard, MBA, MHA
Dave Wilson

Stephen Merrick was appointed as Chairman of the Board in June 2023, after five years as Chief Executive Officer and Member of the Board. He first joined NorthStar in March 2016. He has more than 30 years of experience in the biotechnology, pharmaceutical and life sciences industries. He has held multiple executive positions with leading multinational companies, including leadership of nuclear medicine businesses. Steve has extensive general management and corporate officer experience, and a proven record of accomplishment with integrating science, engineering and commercial activities to drive complex projects to successful completion. Steve also served in the Royal Navy as a Nuclear Submarine Officer, where he specialized in Navigation and Operations.

Steve received a BSc (Honors) in Engineering Science from the University of Exeter and an MBA from the London Business School, both in the United Kingdom. He also completed the Nuclear General Course at the Royal Naval Staff College, Greenwich in the United Kingdom.

Barbara, who joined NorthStar’s Board of Managers in February 2024, is an active Board Director and former public company Chief Financial Officer with extensive global experience in branded & generic pharmaceuticals, medical device, and healthcare technology & services. She is currently a Board Director for Enovis Corporation, Option Care Health and BioMarin Pharmaceutical. Previously, Ms. Bodem has served as a director for Syneos Health, Turning Point Therapeutics and Invacare Corporation. She also served in finance roles of increasing responsibility at Eli Lilly, Hospira, Mallinckrodt Pharmaceuticals and Hill-Rom, where she was SVP and CFO until their acquisition in Dec 2021.

Barbara graduated from Indiana University with a Bachelor of Science in Finance degree and later received an MBA from Indiana University.

Jon Coulter is Managing Director at Hendricks Holding Company, Inc. (“HHC”) and has responsibility for several HHC portfolio companies, including NorthStar Medical Technologies LLC. Jon has served on NorthStar’s Board of Managers since 2010. Before joining HHC, Jon was an investment banker at Robert W. Baird & Co. (“Baird”) and a Principal at Baird Capital Partners, the private equity arm of Baird. Jon also was an investment banker at Cleary Gull, Inc.

Jon served twelve years in the U.S. Air Force as an Operations Staff Officer and Instructor Pilot, and is a veteran of Operation Desert Storm. He earned a Bachelor of Science from Purdue University and an M.B.A. from the University of Wisconsin–Madison.

Paul brings more than 30 years of relevant experience to NorthStar where he is responsible for the Financial operations of the company. Prior to NorthStar, he was the CFO of Melinta Therapeutics, Inc., a publicly traded company focused on the discovery, development and commercialization of novel antibiotics. During his five-year tenure at Melinta, Paul guided the company in the process of converting from a private to public enterprise, raised more than $500 million in support of the company, assisted in the acquisition of products from other companies, facilitated a merger and supported the commercial launch of multiple products. Prior to Melinta, he spent more than 20 years with Baxter International, Inc. where he held both financial and non-financial positions of increasing responsibility. During his tenure at Baxter, his experiences included divisional CFO for various divisions of Baxter, CFO of Baxter’s operations in Japan and serving as the Vice-President of Integration for a large acquisition. Prior to Baxter, Paul was a public accountant with Arthur Andersen & Co.

Paul earned a Master of Business Administration degree from the Kellogg School of Management at Northwestern University and a Bachelor of Science degree in Accounting from Illinois State University.

Diane M. Hendricks has served on NorthStar’s Board of Managers since 2010 and was appointed Chairperson in 2018. Although she has transitioned Board Chair responsibilities to Steve Merrick, she remains an active member of the Board. Diane is also the Chairperson and sole shareholder of ABC Supply Co. Inc. ABC Supply is the largest wholesale distributor of exterior building products in the United States with more than 700 locations nationwide, 14,000 associates, and projected sales for 2022 in excess of $10 billion. Diane and her late husband, Kenneth Hendricks, founded ABC Supply in 1982.

Through the ownership of Hendricks Commercial Properties, Diane is the owner of a large national portfolio of industrial and commercial real estate. Diane is also Chairperson of Hendricks Holding Company, Inc. (“HHC”), a holding company that includes a diverse portfolio of companies in manufacturing, service and distribution industries, including NorthStar Medical Technologies LLC (“NorthStar”). HHC is currently the majority shareholder in NorthStar.

David Keeling, who joined NorthStar’s Board of Managers in February 2024, is currently a Senior Partner with McKinsey & Company, Chicago. He is a leader of McKinsey’s global Life Sciences Practice, Operations Practice, and Quality, Compliance and Remediation Practice. David has worked for McKinsey and for clients across North America, Europe and Asia with areas of focus that include strategy, organization, mergers and acquisitions, operations, and supply chain management. He has spent more than 25 years serving the largest and most successful companies in biopharmaceuticals, including in areas such as oncology, cell and gene therapy, and contract manufacturing.

David graduated from the University of Western Australia with a Bachelor of Engineering degree with first-class honors. He later received an MBA from the J.L. Kellogg Graduate School of Management at Northwestern University.

Randy has served as a Board Member of NorthStar since 2012. He led an investment group that supported NorthStar’s early development and has continued to invest in the growth of NorthStar’s industry leading technology. Randy is a food industry veteran with two decades of senior executive leadership at Kerry plc, where he gained extensive experience of compliance with FDA regulations. In retirement he continues to be active in the food industry through consulting and Board roles, which has enabled him to keep current of industry dynamics and FDA policy. He has been a leader and active member of Stateline Angels, who have invested over $10M in 20 companies during the last decade.

Pete, who joined NorthStar’s Board of Managers in April 2024, is an experienced Biotechnology Executive and Chief Financial Officer with a background in strategic planning, corporate financing, business development, and investor relations. He is currently Chief Financial Officer (CFO) and Head of Investor Relations at Voyager Therapeutics and has previously served as CFO at Frequency Therapeutics, UroGen Pharmaceuticals, Sucampo Pharmaceuticals, Immunomedics, and Circulite Inc. Prior to working in the biotech industry, Pete also held progressively senior roles across Finance, Commercial Operations, and Business Development within the pharmaceutical industry at Johnson & Johnson and AstraZeneca. He started his career as an auditor at Ernst & Young, LLP.

Pete is a Certified Public Accountant and holds a Master of Business Administration in Finance from Rider University. He has completed master’s coursework in strategic marketing from Northwestern University’s Kellogg School of Management and received his Bachelor of Science in Accounting from Rutgers University.

Frank, appointed as NorthStar’s President and Chief Executive Officer in June 2023, has more than 25 years of global experience in the pharmaceutical and life sciences industries as well as in consulting. He has held executive-level positions in general management, operations, quality, alliance management, and merger integration. Frank has led transformative change throughout the value chain of pharmaceutical companies, and managed multiple acquisitions and divestitures in branded pharmaceuticals, generics, and medical device assets. Before joining NorthStar, Frank was a Managing Director with AlixPartners, the Chief Operations Officer and Chief Digital Innovation Officer at Mallinckrodt Pharmaceuticals, and a Partner with McKinsey & Company.

Frank holds a Ph.D. in Business Management from the University of Bielefeld, Germany, an MBA from the Georgetown University McDonough School of Business in Washington D.C., and a Master’s in Economics from the Leibniz University of Hannover, Germany.


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