HealthEdge Launches Fund II
Tampa, FL – May 30, 2012 – HealthEdge Investment Partners, LLC (“HealthEdge,” or the “Fund”) is pleased to announce it has launched its second fund, HealthEdge Investment Fund II, L.P. (“Fund II”). HealthEdge is an operating-oriented private equity firm that specializes in acquiring healthcare businesses that could benefit from the knowledge, expertise, and network of relationships of the firm’s principals. Fund II aims to continue the successful investment strategy pursued by HealthEdge in Fund I, a $60 million fund closed in 2006. The Fund will again be led by the founding principals Brian W. Anderson and Phillip S. Dingle and will include the active investment team from its first fund.
In addition to Anderson and Dingle, HealthEdge will be supported by the other members of its investment team, which includes Partner Jeffery Thompson, Operating Partner Guy Bryant, Chief Financial Officer Ralph Nelson, Principal Scott Lee, and Investment Analyst Charles Davis, all long-standing members of the HealthEdge team and active participants in Fund I. HealthEdge makes control equity or structured minority investments as the lead investor in U.S.- based lower market health care businesses. HealthEdge seeks to achieve superior returns by investing in businesses that benefit from the knowledge, experience, and network of relationships of its partners. Co-Managing Partner Dingle said, “After positioning the remaining portfolio companies in Fund I towards an exit during the past 18 months, we are ready to take what we have learned and refocus our investment efforts on an opportunity-rich healthcare industry. Since 2005, we’ve assembled a strong team that has completed 18 transactions together and are poised to continue the success of our group’s recent history.” The principals have also assembled a group of knowledgeable Advisory Board members that will assist in sourcing, screening, and monitoring investments.
Since the inception of Fund I, the HealthEdge team has completed seven platform investments and eleven add-on acquisitions. To date, four of these platform investments have been exited, all at attractive returns in excess of 30% compounded annually. Mr. Anderson, Co-Managing Partner, said, “We are very pleased with the progress of Fund I. With our highly supportive investors, we begin work on Fund II and plan on utilizing the expanded knowledge and relationship base we were able to create from our first fund to continue to create superior returns.”
HealthEdge Investment Partners
100 S. Ashley Drive, Suite 650
Tampa, Florida 33602
HealthEdge is delighted to announce that Mr. James K Murray, Jr. has assumed the role of Chairman of the Fund’s Advisory Board. Mr. Murray currently serves as Chairman of Murray Corporation, a private merchant company. He was a founder of a company that is today HealthPlan Services, which he sold to Dun & Bradstreet Corporation (NYSE:DNB) in 1978 and re-acquired in 1993, taking it public in 1995. From 1978 through 1993, Mr. Murray served in various capacities with Dun & Bradstreet, including President and Chairman of three of its divisions.
Additional members of the Advisory Board include:
- Vince Farrell, who currently serves as Chief Investment Officer of Soleil Securities and was formerly a Principal at Scotsman Capital, Chairman of Victory Capital Management of Cleveland, and Chairman of Victory SBSF Capital Management in New York. Mr. Farrell is a regular guest on the cable network CNBC as well as other national print and broadcast media;
- J. Rex Farrior IIII, the managing member of Farrior Enterprises LLC, a diversified investment company focused on agriculture, health care and tech private equity, restaurants, and real estate;
- John R. Gunn, who has served as Chief Operating Officer of Memorial Sloan-Kettering Cancer Center in New York since 1987 and previously served in senior financial positions at the hospital;
- Christopher C. Lykes, a private investor and a Director of Bay Cities Bank in Tampa, Florida, where he also serves as a member of the bank’s executive loan, compensation, asset/liability and electronic settlement oversight committees;
- Richard J MacKay, who was Vice Chairman of Stiefel Laboratories until its sale to GlaxoSmithKline in 2010 and was President and Chief Executive Officer of Stiefel Canada. Mr. MacKay has vast experience in management and sales in the pharmaceutical industry and presently serves as Chairman of the Advisory Board of ValeoPharma;
- Dr. Roy Sanders, who is a practicing orthopaedic surgeon that specializes in acute trauma and posttraumatic reconstruction, as well as foot and ankle surgery. He is a the President of the Florida Orthopaedic Institute, a group he helped found, and the Director of Orthopaedic Trauma Service; and
- Dave Shell, who retired at the end of 2011 as a Partner of Goldman Sachs & Co. Since 2002, he served as Co-Chief Investment Office of the growth team at Goldman Sachs Asset Management, where he was responsible for the portfolio management and investment research process of the firm’s U.S. growth strategies and managed over $20 billion of client assets.