NaviMed Capital, a Washington, DC-based private equity firm focused exclusively on the healthcare industry, announced the closing of its third fund NaviMed Partners III. This substantially oversubscribed new fund closed at its hard cap of $450 million of commitments. NaviMed now manages over $850 million of capital commitments with the new funding round.
NaviMed will continue focusing on control investments in fast growing lower middle-market healthcare companies. And 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 looks to invest in profitable private companies with up to $10 million of EBITDA and double-digit annual revenue growth.
Since mid-2021, NaviMed 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. And 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’s investment team is supported by a strong group of Senior Advisors and Health Policy Partners, featuring senior healthcare executives, academics, and former senior government officials with deep healthcare policy experience. And these Senior Advisors and Health Policy Partners serve as resources to NaviMed’s investment team and its portfolio companies.
Ropes & Gray served as legal advisor, and Metric Point Capital served as financial advisor and placement agent.
KEY QUOTES:
“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.”
– 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.”
– NaviMed co-founder and Managing Director Dr. Bijan Salehizadeh
