GrowthCap is pleased to announce The Top 25 Healthcare Investors of 2023. Our third year running, the healthcare awards process has become more competitive not only in the number of participants but also in the caliber of individuals put forth. We are inspired by the dedication of this year’s awardees toward their craft and towards solving some of the healthcare industry’s most pressing challenges. These investors have highly specialized knowledge, are keenly aware of sub-sector areas to focus on, work effectively with management teams, and operate strategically to consistently produce successful outcomes.
Over 350 firms were pre-qualified to participate in this year’s process. We received hundreds of nominations and in some cases, several investors were nominated from a given firm. To determine the awardees, we placed considerable weight on feedback received from portfolio company CEOs, firm colleagues and peers in the industry. We also conducted our own proprietary research. The overarching goal was to determine those investors who have demonstrated the attributes to sustain a high level of investment performance—past, present, and future. As we like to say, returns are a lagging indicator and investor attributes are a leading indicator.
Healthcare plays a critical role in the quality of our lives, underpins all other business and economic activity, and ultimately determines the state of our world. Please join us in recognizing and celebrating the achievements of The Top 25 Healthcare Investors of 2023.
Firm: Francisco Partners
Title: Co-President, Co-Lead of Healthcare IT
Since joining the firm in 2003, Ezra founded and co-leads FP’s HCIT practice, which is currently recognized as one of the most successful HCIT practices in the industry. Ezra has played a critical leadership role in an array of transactions, including some of FP’s most complex carve-outs and strategic acquisitions. Ezra has helped drive some of FP’s most successful exits, including the sales of CoverMyMeds, eSolutions, Landmark, myON and Quadramed. In the past year, Ezra co-led the firm’s efforts in the carve-out of Watson Health from IBM, which was later rebranded into a standalone company, Merative. He also played a key leadership role in FP’s carve-out acquisition of bswift from CVS Health. He serves on the board of directors of Avalon, bswift, Edifecs, Merative, QGenda and Renaissance. Ezra has an AB in applied mathematics from Harvard College as well as an MBA from Stanford GSB.
“For the last two decades, we’ve been one of the most active private equity firms in the healthcare and healthcare technology space. It’s extremely rewarding to work with companies that are leveraging their technologies, products and solutions to provide better access to care, better affordability, and better adherence to medications.”—Ezra Perlman
Firm: TPG
Title: Partner
John Schilling is a Partner at TPG, where he leads the operations team for TPG Capital and co-leads TPG Capital’s healthcare investing practice. Additionally, John launched and co-leads TPG Life Sciences Innovations, the firm’s venture healthcare fund that seeks to invest in novel therapeutics, as well as digital health, medical devices, diagnostics, and tech-enabled services. Prior to joining TPG in 2011, John was a Corporate Officer at Abbott Laboratories, where he led sales and marketing for the ~$10B U.S. pharmaceutical business, and served as a Partner at McKinsey & Co., where he advised on healthcare strategy, M&A, and the commercialization of products and services. John received his undergraduate degree in biomedical and electrical engineering from Duke; a master’s in biomedical engineering from Johns Hopkins, where he was a Bozzelli Scholar; and an MD from the University of Chicago where he received the Joseph A. Capps Award for the most outstanding student in clinical medicine. John conducted his residency training in surgery at the Johns Hopkins Hospital and School of Medicine.
“TPG has a long history of partnering with leading management teams across the healthcare sector to build and grow businesses that deliver high-quality products and services to the patients and physicians that we serve. For decades, our investment strategy has been guided by a patient-centric philosophy—one that emphasizes true breakthrough innovations, that delivers consistent product enhancements, and that ensures that the quality of care patients receive is market-leading.”—John Schilling
Firm: The Vistria Group
Title: Senior Partner, Co-Head of Healthcare
David Schuppan is Senior Partner and Co-Head of the Healthcare Team at The Vistria Group, a Chicago-based next generation private investment firm operating at the intersection of purpose and profit. With over 25 years of healthcare experience, David joined The Vistria Group in 2017 and has helped grow the firm to over $10 billion in AUM.Known for his expertise within in-home and value-based care delivery and technology, David led the successful exits of St. Croix Hospice, Agape Care Group and Sevita. David recently led Vistria’s investment in Tango, a leading enabler of in-home benefit management solutions, as well as the recapitalization of Sevita. Including those two companies, David’s current portfolio is comprised of Rock Dental Brands, Mission Healthcare, Medalogix, VitalCaring Group, Help at Home, PANTHERx and HomeFree Pharmacy Services. David prides himself on working closely with management teams to address some of the nation’s largest health challenges; in particular expanding access and value of healthcare for complex and vulnerable populations. David graduated summa cum laude from Indiana University and received his MBA, with honors, from The Wharton School at University of Pennsylvania.
“Caring for the health and well-being of individuals is not just a moral obligation, it’s also good business. At The Vistria Group, this philosophy has led our team’s success for the past decade and continues to serve at the forefront of our impact strategy. By working alongside management teams who share this vision, we can ensure the best combination of success for both our portfolio companies and the lives and livelihoods we support.”—David Schuppan
Firm: Great Hill Partners
Title: Managing Director
Mark Taber is a Managing Director at Great Hill Partners, where he is responsible for transaction origination, investment policy, fundraising, investor relations and the general management of the firm. Mark leads the healthcare team and is also a member of the firm’s executive and investment committees.
Mark is currently a member of the boards for several companies he has led or co-led investments in, including Clearwave Corporation (a patient engagement platform), IVX Heath (provider of ambulatory infusion and injection therapy for patients with complex chronic conditions), Retiree First (provider of group retiree Medicare benefit management solutions), ParetoHealth (an employee benefit group captive manager), Quantum Health (a provider of care coordination and healthcare navigation solutions), RxBenefits (a provider of pharmacy benefits administration solutions) and Vatica Health (a provider of physician-integrated risk adjustment solutions).
He previously served on the boards of numerous other companies including PartsSource (acquired by Bain Capital Private Equity), Passport Health Communications (acquired by Experian), Qualifacts (acquired by Warburg Pincus), DealerRater (acquired by Cars.com), FirstCall HealthCare, Inc. (acquired by Matrix Medical Network), Accelerated Payment Technologies (acquired by global payments), Custom House (acquired by Western Union), BillMatrix (acquired by Fiserv) and SterilMed (acquired by Johnson and Johnson).
“Our focus at Great Hill has been to work with companies seeking to lower overall healthcare costs, while improving access to quality care and enhancing the patient experience. We have been fortunate to partner with some of the most innovative teams pursuing these goals over the past two decades. We are excited about the opportunities today as we have ever been.”—Mark Taber
Firm: Silversmith Capital Partners
Title: Managing Partner
Jeff co-founded Silversmith Capital Partners in 2015. In his role as a Managing Partner, Jeff focuses on investments in healthcare IT & services. Within healthcare IT, Jeff partners with talented leaders of proven, high growth software and data companies that can either materially improve clinical outcomes or reduce administrative inefficiency within all segments of the U.S. healthcare ecosystem. Jeff’s healthcare services investments are centered around innovative care delivery models oriented towards value-based care that can be scaled both organically and through M&A.
With more than 20 years investing experience, Jeff has led many of the firm’s key healthcare investments including Fortified Health Security, Iodine Health, LifeStance Health (Nasdaq: LFST), MediQuant, Nordic (acquired by Bon Secours), Panalgo (acquired by Norstella), Partners Surgical, Sound Physicians, Upperline Health, US Health Partners and Within3. Some of Jeff’s notable investments prior to founding Silversmith include ABILITY Network, Liberty Dialysis, Liazon and MedHOK.
Jeff received an AB in government and mathematics from Dartmouth College where he graduated magna cum laude, and an MBA with Distinction from Harvard Business School.
“Silversmith was founded to partner with growing, founder-led, healthcare and technology companies focused on solving clear, identifiable problems. It is a privilege to partner with talented founders and entrepreneurs in healthcare who are making an impact on the world by improving patient outcomes through technology and innovation.”—Jeff Crisan
Firm: Summit Partners
Title: Managing Director
Darren Black joined Summit Partners as a Managing Director in 2013 and, over the course of the last decade, has been instrumental in expanding the firm’s healthcare practice. Darren has invested in and partnered with numerous high-growth companies across the healthcare sector during his career, building deep expertise across the healthcare services and outsourced life sciences services landscape.
At Summit, Darren has led investments in 18 companies across the healthcare and life sciences sectors, representing more than $3.5 billion in capital. He has served as an active, engaged board member at each of these portfolio companies and currently serves as a director of Fortis Life Sciences, InnovaCare Partners, Leon Medical Centers, LifeStance Health (NASDAQ: LFST), Paradigm (recapitalized by OMERS), PharmScript, Sound Physicians, TurningPoint Healthcare Solutions, US Health Partners, U.S. Renal Care, VaxCare and Veranex. Darren’s previous board and investment experience includes Abode Healthcare (acquired by BrightSpring Health Services), ABILITY Network (acquired by Inovalon), Advance Health (acquired by New Mountain Capital), DuPage Medical Group (now known as Duly Health and Care; acquired by Ares Management) and HealthSun (acquired by Anthem).
Prior to Summit, Darren was a Managing Partner with SV Life Sciences, and he previously cofounded two companies—ClinCare and PharmaStar. Darren holds an AB from Harvard College and an MBA from the Wharton School at the University of Pennsylvania.
“At Summit, we believe strongly in the importance of helping companies fulfill their missions of improving the healthcare value equation—whether by improving quality, decreasing costs, or both. I’m incredibly proud to support the growth of these businesses and work alongside innovative leaders who are working to transform how healthcare is delivered.”—Darren Black
Firm: Great Hill Partners
Title: Managing Director
Rafael Cofiño is a Managing Director at Great Hill Partners, where he is responsible for originating, evaluating and managing investment opportunities in later-stage growth companies in a range of industries including healthcare and tech-enabled business services.
Rafael currently serves on the board of directors for several leading healthcare companies which he has led or co-led investments in, including Clearwave Corporation (a patient engagement platform), Retiree First (a provider of group retiree Medicare benefit management solutions), ParetoHealth (an employee benefit group captive manager), Quantum Health (a provider of care coordination and healthcare navigation solutions), RxBenefits (a provider of pharmacy benefits administration solutions) and Vatica Health (a provider of physician-integrated risk adjustment solutions).
He formerly served on the boards of PartsSource (acquired by Bain Capital Private Equity), Qualifacts (acquired by Warburg Pincus) and DealerRater (acquired by Cars.com) and was also involved in the investments of Passport Health Communications (acquired by Experian) and Wayfair (NYSE: W).
“At Great Hill, we are fortunate to partner with high growth healthcare companies whose core mission is to help expand access to care at a lower cost with better outcomes for as many individuals as possible. While we are extremely proud of the impact our partners are having in the industry, we recognize there is still much to do. It is this sense of urgency that drives us to invest our time, passion, experience and capital to support the visionary teams looking to improve the way healthcare is delivered, utilized and paid.”—Rafael Cofiño
Firm: Spectrum Equity
Title: Managing Directors
Jeff Haywood is co-head of Spectrum Equity’s investing efforts across healthcare, focusing on high growth internet-enabled software and data services companies serving all parts of the healthcare industry.
Jeff joined the firm in 2007 and currently serves on the boards of Definitive Healthcare (NASDAQ: DH), RxVantage and Membersy. He also led Spectrum’s investment in PWNHealth and subsequent sale to Everlywell, where he continues as a board observer. Jeff was previously involved with GoodRx (NASDAQ: GDRX), Payer Compass (acquired by Zelis Healthcare), Net Health (acquired by The Carlyle Group), Verisys (acquired by Aperture Health). Passport Health Communications (acquired by Experian), and MedHOK (acquired by Hearst Health).
“Spectrum Equity’s approach to healthcare is straightforward. We partner with companies that leverage software and data in unique ways to achieve one or several key objectives: improving access to care; driving better outcomes; and lowering the cost of care across our healthcare system. We’re grateful for our close partnerships with phenomenal entrepreneurs and founders who are building compelling businesses that address critical deficiencies in healthcare.”—Jeff Haywood
Steve LeSieur is co-head of Spectrum Equity’s investing efforts across healthcare, focusing on high growth internet-enabled software and data services companies serving all parts of the healthcare industry.
Steve joined Spectrum in 2005 and currently serves on the board of GoodRx (NASDAQ: GDRX). He was previously involved with Payer Compass (acquired by Zelis Healthcare), Definitive Healthcare (NASDAQ:DH), MedHOK (acquired by Hearst Health), HealthMEDX (acquired by NetSmart), Passport Health Communications (acquired by Experian) and QTC Management (acquired by Lockheed Martin).
“We believe the evolution of connected software, data and analytics will continue to have a massive impact on the healthcare market, and we are incredibly fortunate to work with founders and CEOs who are building today’s digital health companies.”—Steve LeSieur
Firm: Questa Capital
Title: Co-Founder and Managing Partner
Brad has spent over 25 years in the healthcare industry and has been investing in the space since 1999. During his investment career, Brad has been involved with 18 company boards of directors and the deployment of over $600 million in equity capital in the healthcare services and healthcare technology sectors. Prior to co-founding Questa, Brad was a senior investment professional at Parthenon Capital, a growth oriented private equity firm, where he helped lead their healthcare investment practice. During his time there, he deployed over $300 million in equity capital and served on eight different boards of directors.
Prior to Parthenon, Brad worked at Broadlane, Inc., a healthcare technology company, where he was a member of the Executive Management Committee. Brad previously worked in a variety of healthcare investment roles at MTS Health Partners and Evercore Partners in their New York offices. Brad started his career in the Healthcare Investment Banking Group at Bear, Stearns & Co. Inc. in New York.
Brad graduated from the University of North Carolina at Chapel Hill with a BA with distinction in economics and concentration in finance.
“We launched Questa Capital to make a difference in improving the US healthcare system by supporting the next generation of growth companies with our capital and expertise. Our goal is to work collaboratively with these outstanding management teams to build companies whose mission is to improve overall clinical care at a lower long-term cost to the system.”—Bradley Sloan
Firm: Health Velocity Capital
Title: Partner
Marty Felsenthal has invested exclusively in innovative and disruptive healthcare software and services companies for more than 25 years, and has led investments in companies such as TelaDoc (NYSE: TDOC); Change Healthcare (acquired by Emdeon); MDLIVE (Cigna); OnShift (ShiftKey); Aperio (Leica Biosystems); Titan Health (United Surgical Partners); US Renal Care (Leonard Green); Payerpath (Misys/Allscripts); Vantage Oncology (McKesson); NovoLogix (CVS Health); IVX Health; Artera Health (fka Well Health) and many others. For the past 15 years, he has served as an adviser to the California Healthcare Foundation Innovation Fund. Marty received his AB from Princeton University and his MBA from the Stanford University Graduate School of Business.
In addition to investing on behalf of traditional institutional limited partners, Health Velocity Capital counts among its limited partner base strategic investors and current and former executives who represent organizations that insure over 180 million Americans, operate more than 800 hospitals, provide pharmacy and PBM serves to every American, and sell software to every major payor and provider in the country. Health Velocity Capital works collaboratively with these limited partners in pursuit of its mission: supporting innovators contributing to a more affordable, sustainable, consumer friendly healthcare system.
“For the past 26 years, it has been a privilege to partner with entrepreneurs such as Doug Ghertner at IVX Health and Change Healthcare, Gui de Zwirek at Artera, Mark Woodka at OnShift, Jason Gorevic at Teladoc, Charles Jones at MDLive, and many others. We have leveraged our deep industry relationships and knowledge to help them build companies that have created entirely new sectors in healthcare. They obviously do the hard work, and we are here to support them as best we can. However, I am incredibly grateful for the opportunity to work alongside them and our strategic investors in pursuit of our mission: helping to build innovators that contribute to a more affordable, sustainable, and consumer-friendly healthcare system.”—Marty Felsenthal
Firm: B Capital
Title: General Partner and Global Head of Healthcare
Robert leads healthcare investing at B Capital, a $6B+ AUM global investment firm focused on investing capital from the early to the growth stages in transformative companies. Robert brings nearly two decades of clinical, operational, and investment experience to portfolio companies in the biotech, healthtech, and digital health spaces, and has been involved in deploying over $500M of capital in his career to date, in over 30 companies. He has experience as a public company medical robotics executive, as a clinician, and as a strategy consultant in the biopharma sector. Robert has been involved in a number of investments that are now public companies (iRhythm, IntersectENT, Silk Road Medical) as well as a number that resulted in notable M&A transactions (Visitpay, TigerConnect). He currently serves on the boards of Triumvira, CapitalRX, Atomwise, Carlsmed, Lively, Aetion (obs), and Hotspot Therapeutics (obs).
Robert is a Stanford-trained, board-certified emergency physician who earned his MD from Harvard in the Harvard-MIT program, his MBA from Harvard Business School, and his MA in international affairs from King’s College London. Robert was awarded a Howard Hughes Medical Institute fellowship for his research in computational neuroscience at Harvard Medical School. Robert received his undergraduate degree (honors) in biomedical engineering at Johns Hopkins University.
“It is a privilege to be an investor in category-defining companies that are transforming healthcare, by using novel biotechnology, AI, and automation to redefine the state of the industry. As a former public company operating executive, physician, and engineer, I am committed to tirelessly and strategically supporting management teams to help them achieve their desired growth and impact.”—Robert Mittendorff
Firm: Battery Ventures
Title: General Partner
Chelsea Stoner, based in San Francisco, is a General Partner at Battery Ventures focused on software investments, including SaaS companies serving the healthcare market. Since joining Battery in 2006, she has backed companies making technology for healthcare industries ranging from home care to dentistry to post-acute care to clinical labs. Currently, Chelsea serves on the boards of Maxio, ContinuumCloud, Curve Dental, Ontra (formerly InCloudCounsel), PageUp and Redox. She is also an investor in Honeybook.
Her previous investments include Avalara (NYSE: AVLR), Brightree (acquired by ResMed), ClearCare (acquired by Wellsky), Data Innovations (acquired by Roper Industries), Glassdoor (acquired by Recruit Holdings), Groupon (NASDAQ: GRPN), Guidewire (NYSE: GWRE), Intacct (acquired by Sage), Marketo (NASDAQ: MKTO, acquired by Vista Equity Partners), RealPage (NASDAQ: RP) and WebPT (acquired by Warburg Pincus). Prior to Battery, she held positions at Key Principal Partners, Accenture, Merrill Lynch and Classified Ventures. Chelsea received a BS with honors in chemical engineering from Northwestern University and an MBA from the University of Chicago. She also sits on the Northwestern University Engineering School Board as well as the Cleveland Clinic Innovations Advisory Council.
“My team and I look to partner with passionate leaders building great SaaS companies. Investing in healthcare software improves the efficiency, accessibility and quality of care for patients and providers around the world; It is a privilege to help bring these technology solutions to market.”—Chelsea Stoner
Firm: Warburg Pincus
Title: Managing Director
Thomas “TJ” Carella joined Warburg Pincus in 2016. Based in New York, he serves as a Managing Director and is Head of the Healthcare group. TJ leads a team of approximately 20 investment professionals responsible for identifying, sourcing, evaluating, and structuring investments and works closely with management teams to develop and implement key growth strategies.
TJ and his team currently oversee a portfolio of over 20 investments across a wide range of subsectors, including provider and payer services, healthcare technology (“HCIT”), life sciences, and medical devices. He currently serves as a Director of Aetion, Alignment Healthcare, Bond Vet, Ensemble Health Partners, PolyPlus, Quantum Health, and WebPT.
Prior to joining Warburg Pincus, TJ was a Partner in the Merchant Banking Division of Goldman Sachs and Global Head of the Division’s Private Equity activities in the healthcare sector. While at Goldman Sachs, he led several investments across life sciences, healthcare services and healthcare information technology. He earned his bachelor’s degree from Harvard College and then obtained his MBA from Harvard Business School.
“Since inception, Warburg Pincus has invested over $16 billion in more than 180 healthcare companies. We believe that the rapidly transforming healthcare landscape creates compelling investment opportunities in companies that are reducing costs and increasing access for healthcare consumers, providing differentiated technology solutions, and developing and driving medical product innovation. We are excited for the future of healthcare and are proud of our role in partnering with exciting and innovative companies in their growth journey.”—TJ Carella
Firm: Insight Partners
Title: Managing Director
Lonne Jaffe joined Insight Partners in 2017 as a Managing Director. While he has invested across many domains during his time at Insight, including but not limited to applied AI and machine learning, quantum computing and fintech, Lonne has a highly impressive healthtech portfolio—driven by his passion for improving health outcomes for all by harnessing the transformative power of technology. Within healthtech, Lonne has a keen eye for companies leveraging computer vision AI to extend the capabilities of care providers.
Prior to joining Insight, Lonne served as the CEO of Precisely (formerly Syncsort), an Insight portfolio company that provides data integrity software for over 12,000 customers in more than 100 countries. Lonne was previously the senior VP of corporate strategy at CA Technologies, and prior to CA, spent over a decade at IBM in various strategy and leadership roles, including director of M&As for an IBM software division and director of IBM’s software solutions business for the education, healthcare, life sciences, and government industries.
“This has been another year of groundbreaking advancements in technology that are improving patient care, diagnosis, treatment, and drug discovery. The predictive accuracy of existing artificial technologies like computer vision continues to improve very rapidly, for example identifying cancerous polyps during a colonoscopy, or determining whether a dental patient needs a crown or a filling based on an X-ray. And new, extraordinary capabilities are coming online every day. At Insight Partners we remain committed to supporting innovative companies that harness the power of software to address some of the most pressing challenges in healthcare, helping to improve the lives of millions of people around the world.”— Lonne Jaffe
Firm: TPG
Title: Managing Director
Zach Ferguson is a Managing Director with TPG Growth based in San Francisco. Over the past decade, Zach has helped establish TPG as a market-leading healthcare investing franchise and he has been instrumental to TPG’s thematic development and execution across both the provider services and technology and pharma services sectors. Zach previously held roles at Technology Crossover Ventures and Beecken Petty O’Keefe. He currently serves as a board member of AnovoRx, BGB Group, GoHealth Urgent Care, MedQuest Associates, and Q-Centrix. He has also been active in previous healthcare investments including: Evolent Health, Precision Medicine Group, and Medical Solutions. Zach is an alumnus of the University of Arizona and the Stanford Graduate School of Business.
“In an increasingly competitive and crowded market for growth equity, TPG Growth distinguishes itself through its unmatched breadth and depth of experience, pairing global perspectives with deep sector specialization, and expansive operational resources. TPG Growth is a leader in both growth and healthcare investing and it’s a privilege to partner with exceptional founders, management teams, and companies that continue to improve outcomes, enhance quality, and expand access in the healthcare sector.”—Zach Ferguson
Firm: Francisco Partners
Title: Partner, Co-Lead of Healthcare IT
Justin Chen is a Partner and co-leads the firm’s HCIT team with Ezra Perlman. Based in San Francisco, he joined the firm in 2016. He was a critical leader of the deal team’s initial investment in and eventual award-winning exit of Capsule Technologies when it was sold to Royal Philips in 2021. In the past year, Justin led FP’s carve-out of bSwift from CVS Health and co-led the carve-out of Watson Health from IBM, now Merative. Justin currently serves on the board of directors of bswift, Merative, Office Ally, NMI, QGenda, and TS Imagine. Justin has a BS and BA in finance and accounting from Georgetown University.
“It is a unique privilege to build and scale leading healthtech companies and work with such driven, entrepreneurial executives. At Francisco Partners, I am grateful for the opportunity to work alongside talented professionals and nurture productive long-term relationships with our team and network of seasoned operators. Across FP, we embrace a culture of collaboration with a true partnership mentality as we bolster critical companies in such an important sector.”—Justin Chen
Firm: Inverness Graham Investments
Title: Managing Principal
Aliya Khaydarova is a Managing Principal at Inverness Graham, a lower middle market buyout firm that acquires innovative companies where technology is transforming traditional industry. She joined Inverness Graham in 2008 and was promoted to Managing Principal in 2020. While at Inverness Graham, Aliya has worked on investments in multiple verticals and now specializes in healthcare investments, with a particular focus on advanced manufacturing companies.
During her tenure, Aliya has played an integral role in the strategic transformation and value creation at all healthcare investments at Inverness Graham and has helped to establish the vertical as a key focus area at the firm. Notably, Aliya served on the investment teams for AdvancedCath and Danville Materials, two of the firm’s most successful investments to date. She currently serves on the boards of Vista Apex, VitalPath, Innovia Medical and Treat Planet. Aliya holds a BS with high honors in finance from Drexel University and an MBA from The Wharton School. She is a board member of Community Backstop, a non-profit that supports local individuals and families in need.
“It has been a pleasure to spend a significant part of my career at Inverness Graham. We have been an active investor in healthcare since our very first fund, with a strong focus on the medical technology and manufacturing segments. Now investing our fourth fund, we have been successful in partnering with founders and management teams on both organic growth initiatives and synergistic acquisitions as part of our “Strategic Platform Build” approach. We are excited to bring our operational and value creation resources and an innovative mindset to support our portfolio companies to build scale and accelerate their growth trajectory.”—Aliya Khaydarova
Firm: Summit Partners
Title: Managing Director
Ross Stern first joined Summit Partners in 2009, and today he is a Managing Director on the firm’s healthcare and life sciences team. Over the course of his tenure, Ross has partnered with numerous high-growth companies across the healthcare sector, building deep expertise in value-based care, provider-led practice management business models, HCIT and life sciences. His select board and investment experience includes Abode Healthcare (acquired by BrightSpring Health Services), DuPage Medical Group (now known as Duly Health and Care; acquired by Ares Management), Fortis Life Sciences, My Dentist (acquired by Heartland Dental), Paradigm (recapitalized by OMERS), PharmScript, Sound Physicians, TurningPoint Healthcare Solutions, U.S. Renal Care and VaxCare. In total, Ross has led or played a significant role in 12 Summit investments, representing over $2.0 billion of invested capital.
Prior to Summit, Ross worked at the Center for Medicare and Medicaid Innovation and at Cowen & Company in the Health Care Investment Banking Group. Ross holds a BA from Bowdoin College and an MBA from the Wharton School at the University of Pennsylvania.
Ross’ sector experience and expansive network—combined with his practical know-how in driving acquisition strategies, in scaling sales organizations and in recruiting top executive talent and board members—informs his solid execution in supporting Summit portfolio companies’ growth initiatives.
“As a growth investor, I am continuously inspired by the vision, drive, and depth of perspective that each of the executives I work with brings to their companies. I feel privileged to partner with leaders that have a relentless focus on transforming and improving the healthcare ecosystem. It’s an honor to be a part of their growth journey.”—Ross Stern
Firm: Optum Ventures
Title: Managing Partner
Laura Veroneau is a Managing Partner and founding team member of Optum Ventures, the independent venture fund of UnitedHealth Group that invests stage agnostically across the healthcare ecosystem. Under Laura’s guidance and leadership, Optum Ventures—now with 60+ portfolio companies and over $1 billion in AUM–is gaining recognition as a leading platform in healthcare investing.
Laura has played an instrumental role in the fund’s activity and success, leading notable investments such as AbleTo, Dispatch Health, Equip, Garner, and Unite Us, among others. Prior to Optum Ventures, Laura’s experience ranges from a healthcare startup to UnitedHealth Group, CVS Health, and Transformation Capital—enabling Laura to develop a deep understanding of the healthcare system, with an eye on how innovation can integrate into and transform the overall industry. Today, Laura also sits on the Board of Overseers for Brigham and Women’s Hospital. Laura received her undergraduate degree in economics and legal studies from Williams College and received an MBA from the MIT Sloan School of Management.
“Optum Ventures was created to develop a comprehensive and strategic presence in the startup landscape in anticipation of increased healthcare innovation at this stage. In this role, we are fortunate to work with passionate innovators across the healthcare ecosystem—from large market players to early-stage startups—all working towards making the healthcare system more affordable, accessible, efficient, and equitable for all. Cross-industry partnerships have the power to move innovation forward and through this lens, I am incredibly proud of OV’s progress to date and even more excited for what the next ten years will bring.”—Laura Veroneau
Firm: JMI Equity
Title: General Partners
Matt joined JMI in 2006 and focuses on JMI’s investments in software, digital health, and healthcare IT businesses. In addition to supporting JMI’s current portfolio companies, he also helps to identify and assess potential investment opportunities in high-growth software companies. Matt has held numerous board positions at JMI portfolio companies during his tenure, and is currently a director of CiperHealth, Clio, Jane Software, PointClickCare, and TimelyCare. Prior to joining JMI in 2006, Matt was an Analyst in the technology investment banking group at Thomas Weisel Partners and a Research Associate at Thompson, Siegel & Walmsley.
“It’s an honor to be able to partner with great investors and support founders to achieve their goals. Collaborating with world class healthcare IT and digital health entrepreneurs is a great privilege.”—Matt Emery
Sureel has been a part of the JMI team since 2010 and has over a decade of experience partnering with growth-stage software businesses and leadership teams, particularly in the digital health and healthcare IT markets. In addition to supporting JMI’s current portfolio companies, he also helps to identify and assess potential investment opportunities in high-growth software companies. Sureel is currently involved with JMI portfolio companies Jane Software, PointClickCare, Clio, Ignition, OpenSesame, and SafetyChain. Sureel graduated from Stanford University with a BA in economics and minor in human biology. He received his MBA from Harvard Business School, where he was a Baker Scholar. Prior to JMI, Sureel began his career as a Business Analyst with McKinsey & Company.
“Our team at JMI has a strong track record of investments in the digital health and healthcare IT sectors, where we see a tremendous opportunity to automate clinical, financial and operational processes through software and technology-enabled services. It’s been a privilege to work with healthcare companies, software entrepreneurs and their teams at companies like Jane and PointClickCare, as they work hard every day to improve patient and healthcare provider lives. It’s an honor to be included on this list amongst so many great investors and people, many of whom I’m lucky to call friends.”—Sureel Sheth
Firm: WestView Capital Partners
Title: Managing Partner
Matt Carroll is a Managing Partner at WestView Capital Partners and has led the firm’s healthcare technology and outsourced services effort since inception. Prior to WestView, Matt invested in and served as Head of Corporate Development for LogistiCare, a leading medical transportation cost containment provider to the payor market. Previously, he served as an Associate at Triumph Capital, a Boston-based private equity firm and an Analyst with the Private Capital Group at Dean Witter Reynolds. Matt received his BS degree in finance, magna cum laude, from Boston College.
Matt has led investments focused on the provider and payor markets including Executive Health Resources, eSolutions, Xtend Healthcare, Alpha II, Jopari Solutions, The Phia Group and RSI RCM.
“From early in my career I had a front row seat to the many inefficiencies in the healthcare system and have dedicated my investing career to supporting the management teams of a number of companies that assist payors and providers in improving, automating or otherwise navigating the complexities and ever changing rules and challenges posed by many of these inefficiencies. At WestView we have had a longstanding commitment to the healthcare sector and are proud to have played a role in the creation of market leading healthcare technology and service companies of enduring value.”—Matt Carroll
Firm: Insight Partners
Title: Managing Director
Scott Barclay is a Managing Director at Insight Partners focused on investments in healthtech. Since joining the firm at the end of 2021, Scott has stretched Insight’s reach into healthcare with investments in mental health companies, healthcare infrastructure platforms, AI healthcare solutions and more. His Computational Care thesis envisions the future of US and global healthcare built at the intersection of empathy and scalable technology.
Prior to Insight, Scott built his investing career as a healthcare angel investor and advisor (NaviHealth, Doximity, Elation) and, from 2015-2020, as a Partner at DCVC, an early-stage deep tech venture capital firm. Scott’s early career traversed capital markets with Banc of America Securities in Europe and the US, The Boston Consulting Group, and CVS Health. At CVS and then after, Scott helped create and scale the nation’s e-Prescribing ecosystem, running iScribe (acq Allscripts) and as Chief Strategy Officer of Surescripts.
“At Insight, we believe that the biggest problems in healthcare will be unlocked in a future powered by software and empathy. By using software to rebuild the current infrastructure, and leveraging innovative technologies like AI to optimize decision-making, the next generation of great healthtech companies will extend great care experiences and expand access to improved quality. We’re proud to support these companies and be a true partner on their mission to create an equitable future of healthcare for all.”—Scott Barclay
Firm: Martis Capital
Title: Managing Partner
Owen is a Managing Partner at Martis Capital, a healthcare-exclusive firm that is passionate about building the companies transforming healthcare. Owen currently sits on the board of directors at WellHaven PetHealth, Community Based Care, Orthopedic Health, and DCN Diagnostics. He previously sat on the board of Care Hospice where he partnered with management to help expand the business to more than 13 states over the course of Martis’ ownership. Owen builds close relationships with CEOs and founders, who note his unique ability to nurture shared values across all stakeholders.
Owen has almost two decades of experience investing in the middle market and received his MBA from the Harvard Business School and his Bachelor of Commerce and Bachelor of Laws from the University of Sydney.
“At Martis Capital, we are committed to a deeply collaborative approach that emphasizes transparency, trust, and alignment. The team leverages a thematic approach, decades of experience, and robust relationship networks to build businesses that improve the healthcare industry in a significant and meaningful way. Our approach is specifically tailored to meet the unique needs and goals of our founders and CEOs. We are proud to support our management teams and work together to build successful businesses that drive transformative change in the healthcare industry.”—Owen Davis
Firm: Brighton Park Capital
Title: Partner, Head of the Healthcare Group
Calen Angert is a Partner and Head of the Healthcare Group at Brighton Park Capital. As a seasoned investment professional with a deep understanding of the healthcare landscape, Calen leads the Firm’s healthcare investing efforts, with an emphasis on Healthcare Information Technology (HCIT) and healthcare services. Calen supports Brighton Park Capital’s portfolio of leading healthcare businesses—including XSOLIS, Indegene, and Relatient—and serves on the board of Relatient.
Prior to joining Brighton Park Capital, Calen was at TA Associates (“TA”). While at TA, Calen executed and managed investments across the healthcare landscape, including Netsmart Technologies, RLDatix, MedRisk, Benecon, MPI Research, Navia Benefit Solutions, and SoftWriters.
Calen began his career in the Healthcare Group of Morgan Stanley’s Investment Banking division. Calen received a BSBA degree, magna cum laude, in finance from the McDonough School of Business at Georgetown University and an MBA degree, including a certificate in public management and social innovation, from the Stanford Graduate School of Business.
“At Brighton Park, we are thematic investors who seek to identify companies providing differentiated solutions to the healthcare ecosystem. Quality care is centric to our investing ethos, be it in the payor, provider, or pharma landscapes. We seek to partner with like-minded management teams, founders, and shareholders, and are actively involved in helping companies achieve their growth plans. Given our returns come almost exclusively from growth versus financial engineering, we are able to lean into innovation and invest in some of the most interesting pockets of healthcare. I feel fortunate to be leading our firm’s efforts investing in such an evolving and impactful sector.”—Calen Angert
Firm: Silversmith Capital Partners
Title: General Partner
Brian joined Silversmith Capital Partners in 2015 and focuses on investments in healthcare IT & services. Brian is passionate about building relationships and partnering with mission-driven entrepreneurs focused on scaling transformative business models that drive high quality, cost effective and efficient healthcare outcomes through innovative technology and services.
Brian has more than 15 years of experience in healthcare investing and financial services, including leading Silversmith’s investments in Advanced Medical Strategies (AMS) and MediaLab. His additional investment experience at the firm includes Centauri Health Solutions, Iodine Software, LifeStance Health (Nasdaq: LFST), Market Access Transformation (MAT), Net Health, Nordic Consulting, and Sound Physicians.
Brian graduated Phi Beta Kappa with a BBA from the Ross School of Business at the University of Michigan and received his MBA with honors as a Palmer Scholar from The Wharton School of The University of Pennsylvania.
“At Silversmith, we focus on doing just a few things really well, including partnering with exceptional entrepreneurs of rapidly growing, capital efficient companies in our core areas of expertise. It’s a tremendous honor to work with and support companies who are doing the important, and meaningful, work to shape the future of the healthcare industry.”—Brian Peterson
Firm: McKesson Ventures
Title: Managing Director
Dave leads McKesson Ventures, a leading venture firm focused on healthcare technology and services businesses. For two decades, he has been investing in innovative businesses addressing some of the toughest challenges in healthcare. Prior to McKesson Ventures, Dave led Kaiser Permanente Ventures and was a technology and healthcare investment banker at JP Morgan, Piper Jaffray and UBS.
While at McKesson Ventures, Dave has led investments in several category defining businesses across pharma services, data and analytics and value-based care, most notably: Aledade, IVX Health, Komodo Health, Landmark Health and Saama. Dave currently serves on the boards of IVX Health and Lightship and is a board observer to numerous other companies. Dave is a graduate of St. John’s University and received an MPP from Harvard Kennedy School.
“Over the last 9 years, McKesson Ventures is proud to have partnered with some of the industry’s most talented and passionate entrepreneurs across pharma software and services, oncology, pharmacy transformation and new models of care. McKesson’s position as a leading diversified healthcare services business allows us to draw upon differentiated resources and expertise to help our portfolio companies navigate complex industry dynamics and accelerate their growth. I am privileged to work alongside a talented and diverse team committed to supporting visionary healthcare entrepreneurs advancing health outcomes for all”—Dave Schulte
Firm: Redesign Health
Title: CEO
Brett Shaheen is the CEO of Redesign Health, a firm that builds healthcare software and services businesses from the ground up. Since inception in 2018, Redesign has raised more than $1.3bn of capital and built over 50 businesses across cancer care, cardiology, metabolic health, audiology, women’s health, mental health, and many more areas. Prior to launching Redesign Health in 2018, Brett was a Partner and lead Healthcare Analyst at Lone Pine Capital. He began his career as an Analyst at Goldman Sachs and was subsequently a healthcare private equity investor at the Carlyle Group. Brett holds an MBA from Harvard Business School, received an MPhil in international relations from Christ Church, Oxford University, where he studied as a Rhodes Scholar, and graduated summa cum laude with a BS / BA from the Wharton School at the University of Pennsylvania.
“As a former healthcare investor, I saw that the dual tailwinds of an accelerating digital transformation of healthcare and persistent build vs. buy arbitrage in private markets were creating a truly historic opportunity for innovators. We started Redesign Health to help founders take advantage of this opportunity and have built a company creation platform that has the nimbleness of a startup, the maturity and pattern recognition of a much larger institution, the proven ability to partner effectively with industry incumbents and de-risk innovation, and material benefits of scale. Through this, we believe we’re uniquely positioned to empower founders, create value for investors, and help transform the industry in service of patients.”—Brett Shaheen
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Copyright: GrowthCap’s Top 25 Healthcare Investors of 2023 publication is copyrighted material, produced and published by GrowthCap, LLC. For information pertaining to content permissions, please refer to GrowthCap’s award usage regulations.
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