Clifford S. Cramer
Managing Director, Global Healthcare Investment Banking Group
Merrill Lynch

Mr. Cramer spent over 25 years as a senior professional in the financial services and healthcare/ pharmaceutical sectors. Most recently Mr. Cramer was Managing Director at Merrill Lynch in the Global Healthcare Investment Banking Group, responsible for providing strategic advisory and corporate finance services to global pharmaceutical and healthcare companies. Prior to this position, Mr. Cramer was Managing Director in the Corporate Finance Group of J.P. Morgan, where he served as head of M&A for the pharmaceutical sector. Earlier, Mr. Cramer was Vice President, Corporate Planning and Development for Merck & Co., Inc., with worldwide responsibilities for strategic planning and business development including acquisitions, joint ventures and divestitures, reporting to the Chairman / CEO. Mr. Cramer's previous experiences also include the co-founding of American Health Capital / VHA Enterprises, Inc., a healthcare/ financial services company, and investment banking positions with Paine Webber, Inc. and L.F. Rothschild, Unterberg, Towbin, Inc. Mr. Cramer received a MBA in Finance from State University of New York, Albany in 1975, and a BS in Accounting from State University of New York, Binghamton in 1973.