Experienced Investors Raise First Washington, DC-based Healthcare Growth Capital Fund
Washington, DC — July 14, 2015 — NaviMed Capital, a leading healthcare focused private equity firm based in Washington, DC, today announced the closing of its inaugural fund, NaviMed Partners, LP, with over $110 million of total capital commitments.
NaviMed makes substantial investments in fast growing lower middle-market healthcare businesses. The firm focuses on healthcare services, healthcare IT, hospital products, and distribution businesses which are poised to benefit from the healthcare reform and technology innovation forces reshaping the industry. NaviMed typically invests in profitable private companies with up to $10 million of EBITDA and double digit revenue growth.
NaviMed’s senior investment team has a track record of value creation spanning dozens of investments and more than $6.5 billion of enterprise value created.
“As we have witnessed in every prior period of U.S. healthcare reform, change driven from Washington, DC can create significant opportunities for forward-looking healthcare companies,” said Ryan Schwarz, Managing Director of NaviMed Capital. “We are honored to have assembled such a strong group of limited partners who support our mission to find and partner with the best healthcare growth companies.”
Investors in the fund consist primarily of large institutions including endowments, funds-of-funds, global Fortune 500 companies, large family offices and high net worth investors. Thomas Capital Group of Gig Harbor, WA served as the fund’s placement agent.
This fund continues the successful investment strategy employed by the co-founders of NaviMed throughout the course of their careers in private equity investing. With more than 50 years of combined healthcare investing and operating experience, the NaviMed senior investment team includes co-founders and Managing Directors Brian Canann, Bijan Salehizadeh, MD, and Ryan Schwarz, as well as Vice President Edward Chan.
NaviMed’s investment team is buttressed by a strong group of Senior Advisors and Health Policy Partners comprised of senior healthcare executives, academics and former senior government officials with deep healthcare policy experience. These Senior Advisors and Health Policy Partners serve as resources to NaviMed’s investment team and to its portfolio companies.
The fund made its initial investment in October 2014 in Lucent Health Solutions, a Nashville, TN based technology-driven health care risk management company. Lucent is focused on providing innovative self-insurance solutions to employers – one of the most dynamically changing markets in healthcare today. The company manages health benefits for more than 120,000 members.
“Our partnership with NaviMed has been invaluable to the success of our business” said Brett Rodewald, CEO of Lucent Health. “We chose to partner with NaviMed based on their strengths in the financing community, deep relationships with DC health policymakers, and ability to work with our executive team providing key insight into the healthcare industry.”
About NaviMed Capital
NaviMed Capital is a Washington, DC-based private capital firm focused exclusively on the healthcare industry. NaviMed exclusively invests small and middle-market growth and buyout investments in healthcare services, healthcare IT, hospital products, and medical distribution and targets profitable private companies with up to $10 million of EBITDA. NaviMed partners with management teams and entrepreneurs to create value by providing growth capital to support both organic and inorganic growth through industry consolidation while leveraging its deep healthcare expertise, broad firm network, and combined 50+ year heritage of successful investing and operating. NaviMed’s senior investment team has a track record of value creation spanning dozens of investments and more than $6.5 billion of enterprise value created. For more information, please visit http://www.navimed.com or call Edward Chan at 703-474-4087.