Firm Remains Focused on Partnering with Healthcare Business Owners on Control Growth Transactions
WASHINGTON, Nov. 20, 2024 /PRNewswire-PRWeb/ -- NaviMed Capital, a Washington, DC-based private equity firm focused exclusively on the healthcare industry, today announced the closing of its third fund, NaviMed Partners III ("Fund III"). The substantially oversubscribed new fund closed at its hard cap of $450 million of commitments. With the new fund, NaviMed now manages more than $850 million of capital commitments.
NaviMed will continue to focus on control investments in fast growing lower middle-market healthcare companies. The firm specializes in acquiring businesses that provide business process outsourcing services to hospitals and other healthcare providers, health insurers, and the pharmaceutical and medical device industries. NaviMed seeks to invest in profitable private companies with up to $10 million of EBITDA and double-digit annual revenue growth.
Since mid-2021, NaviMed has completed the sale or majority recapitalization of six of its portfolio companies including Argos Health, CenterPointe Behavioral Health System, The CM Group, Lighthouse Lab Services, Lucent Health, and Velocity Clinical Research. NaviMed believes that each of these successful investments exemplifies the firm's strategy of partnering with seasoned executives with the goal of constructing differentiated platforms in what NaviMed believes to be attractive growth markets through the acquisition of one or more founder-owned businesses.
"NaviMed will continue to execute our proven 'Thesis-Driven, Executive-Led' strategy in Fund III. We seek to partner with business owners to build upon the foundations they have created, with the goal of driving growth through new human capital, regulatory and policy insights, and funding for both internal initiatives and complementary acquisitions," said NaviMed co-founder and Managing Director Ryan Schwarz.
"We are grateful for the support from our new and returning investors, which include endowments, foundations, insurance companies, financial institutions, and family offices," said NaviMed co-founder and Managing Director Dr. Bijan Salehizadeh.
This fund continues the first institutional capital partner "platform creation" investment strategy that has been successfully employed by NaviMed for over a decade.
NaviMed's investment team is supported 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 its portfolio companies.
Ropes & Gray LLP served as legal advisor, and Metric Point Capital served as financial advisor and placement agent.
About NaviMed Capital
NaviMed Capital is a Washington, DC-based private equity firm with over $850 million of assets under management, focused exclusively on the healthcare industry. NaviMed invests in fast growing lower middle-market healthcare businesses that NaviMed believes are poised to benefit from the reform and technology innovation forces reshaping the healthcare industry. The firm's investment strategy focuses on healthcare business process outsourcing and specialty healthcare service providers. NaviMed targets 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, in the aggregate, dozens of investments and more than $11 billion of enterprise value created over the course of their combined careers.
For more information, please visit www.navimed.com
Media Contact
Richelle Newman, NaviMed Capital, 1 (202) 760-2542, This email address is being protected from spambots. You need JavaScript enabled to view it., www.navimed.com
SOURCE NaviMed Capital