Banks, one potential hole in your theory has to do with your comment below. It's not clear whether Lombardo was a "board" hire or if the board has any connection at all to the Channel Group. Before Lombardo was at the Channel Group, he was worked with O'Connor at Bracco Diagnostics.
"- Soon after Lombardo was brought on, another board hire. The board obviously had some connection to the Channel Group where Lombardo is a partner."