Meet Medical Entrepreneur Dr. Mark McKennaJanuary 4, 2018
Dr. Mark McKenna is an entrepreneur, medical doctor, as well as a successful real estate mogul. He attended medical school at Tulane University, practicing medicine in a family venture for a short time after graduation from medical school. The problem was, no matter how passionate one is about medicine, it is hard to make a successful career in the field these days, and this lead him to pursue different endeavors for a time.
In many interviews, he recalls that when he was younger, a doctor led a comfortable and monetarily successful life, but this is something that changed in recent years.
He moved into the real estate business, achieving a great deal of success with his start-up firm, McKenna Venture Investments. He actually began investing when he was still in school, moonlighting at a local prison in order to get the capital he needed to make real estate purchases. While he loved medicine, it wasn’t that lucrative and he didn’t feel like it was as much of a challenge as other entrepreneurial endeavors had the potential to be. After about five years in medical practice with his father, McKenna left to try his hand at real estate full-time.
Based in New Orleans, his foray into the real estate market was a big success until a national tragedy hit that effected his business directly: Hurricane Katrina in 2005.
Before the disaster that effected so many lives, McKenna was earning a half a million a year and had a business worth over $5 million, showing just how much success he had in the New Orleans real estate development market.
After the devastating hurricane, much of McKenna’s financial and real estate interests in the area were destroyed as well, causing Dr. Mark McKenna to lose much of his business investment. In just the span of a few days, he had lost some millions of dollars in assets at the hands of the hurricane. He stayed in the area for a number of years after the hurricane, working hand-in-hand with the community to help rebuild New Orleans, focusing on the rebuilding of low- and middle-income housing options for displaced residents.
In the wake of the hurricane, McKenna was able to purchase flooded and damaged properties really cheaply. He would then renovate the buildings which could then be sold to investors who developed the properties into low-income housing for the residents of New Orleans who’s homes and lives were completely wiped out. McKenna made smart investment decisions, took advantage of government subsidies available to residents in the New Orleans area, build and then sold the houses at a profit.
The venture in real estate, while ultimately a success, was not where McKenna’s heart really lied. He wanted to get back to his roots and do something in the medical community, but he also wanted to provide something innovative to consumers that they couldn’t find anywhere else.
He was also lucky that he chose to get out of the business when he did, as the housing bubble burst not long after he got out of the market. He noted that when people with very little income were able to financing on large homes that something in the market was amiss. He feels incredibly fortunate to have gotten out when he did, a lot of people in similar positions lost everything.
Given his entrepreneurial success, Dr Mark McKenna took his business acumen and medical skill to Atlanta, where he began a medical practice called ShapeMed. ShapeMed was an aesthetic-based venture that was highly successful. McKenna sold ShapeMed to Life Time Fitness Inc, a publicly-traded fitness corporation, in November of 2014. After the acquisition, McKenna worked for Life Time Fitness Inc in the position of National Medical Director.
He held this position at Life Time Fitness Inc until July 2016, when he left to pursue another start-up endeavor. In July of 2017, Dr McKenna began to work on a venture called OVME as CEO/founder.
OVME is a medical venture that helps leverage cutting-edge technologies allowing patients better and easier access to elective health care options. In essence, what it is is a combination of brick-and-mortar boutique medical establishments/freelance medical providers that is coupled with a user-friendly mobile application that provides a direct line between the patient and their elective health care providers.
The ultimate goal is to link those who are looking for elective medical services with licensed freelance professionals in their area that will even make house calls to provide said treatment. This provides a level of service and treatment that is not currently offered, even within the more boutique areas of the medical field.
The business plan was highly attractive to potential investors, allowing Dr McKenna to secure over $4 million in capital to get the OVME off the ground from a venture capital investment firm in the Atlanta area. This seed money was what allowed McKenna to turn his idea of a better interface and patient experience into a reality.
The plans are laid, the financing has been secured and licensed surgeon-turned entrepreneur McKenna plans on opening up a flagship location in Atlanta in February of 2018, shortly thereafter, branching out into Las Vegas as well. He is confident that the venture will quickly take off and has an aggressive and detailed plan for how to not only sustain, but grow the business to meet the national demand he expects the venture to elicit.
— Dr. Mark McKenna (@drmarkmckenna) September 16, 2017
With his experience, success, proven acumen, and unique skill set, Dr Mark McKenna is the perfect example of what it means to be a “doctorpreneur.” These are medical professionals who seek to combine their knowledge and skill in the field with innovative new technologies and business models that provide patients with better ways of getting the health care they need, when they need it. Many people see these trend-setters as the way of the future for the medical industry, changing the landscape to make it more patient-centered, able to deliver the outcomes that people want in a more timely and convenient manner.