H&Q Healthcare Investors and H&Q Life Sciences Investors Announces Dismisses of Lawrence S. Lewin, Chairman of the Board of Trustees
May 07, 2012 at 10:08 pm IST
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H&Q Healthcare Investors and H&Q Life Sciences Investors announced the death of Lawrence S. Lewin, Chairman of the Board of Trustees of each Fund. Lewin died on April 29, 2012, after a lengthy illness, and was 74 years old. Lewin was serviced as an officer in the U.S. Marine Corps. He also served as a member of the Board of Regents at the Uniformed Services University of the Health Sciences and as a member of the Congressionally mandated Task Force on the Future of Military Medicine. Lewin founded the Lewin Group in 1970 and served as its Chief Executive Officer until he retired in 1999. He directed a wide range of projects in health policy and finance, academic medicine, public and private health insurance, technology and market assessment of medical devices and pharmaceutical products, strategic visioning and planning, and health systems management and governance. Over the course of his forty year career, Lewin had a major role in shaping healthcare in the United States. Lewin was a Trustee of H&Q Healthcare Investors since 1987 and of H&Q Life Sciences Investors since 1992 and Chairman since 2000. Lewin also served as a board member for a number of healthcare companies, including Intermountain Health Care, Cardionet, and Medco Health Solutions, and was a member of the Institute of Medicine, receiving the Institute's Yarmolinsky Medal for Distinguished Service in 2004.
abrdn Healthcare Investors (the Fund), formerly Tekla Healthcare Investors, is a non-diversified closed-end healthcare fund. The Fund's investment objective is to seek long-term capital appreciation by investing primarily in securities of healthcare companies. In addition, it seeks to provide regular distribution of realized capital gains. It may invest up to 20% of its net assets in securities of foreign issuers, located primarily in Western Europe, Canada and Japan, and securities of United States issuers that are traded in foreign markets. It invests in healthcare industries and is focused on the smaller, emerging companies, investing a maximum of 40% of the Fund's assets in restricted securities of both public and private companies. It invests in subsectors, such as biotechnology, pharmaceuticals, healthcare equipment, healthcare supplies, life science tools and services, healthcare distributors, managed healthcare and others. abrdn Inc. is the investment adviser of the Fund.