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HealthQuest is targeting innovative companies that create tech to drive better outcomes and reduce costs.
HealthQuest Capital today announced the close of its Fund III at $440 million that will be invested in companies delivering innovation across the healthcare industry to improve patient outcomes, enhance efficiency and reduce costs.
Fund III will target growth- and commercial-stage companies focused on medical technologies, diagnostics, digital health and innovative services.
“Technological innovations play a significant role in this transformation process — from improving patient care and safety, to driving down costs, reducing complexity and speeding delivery,” said Garheng Kong, M.D., Ph.D., MBA, HealthQuest’s founder and managing partner.
HealthQuest has assembled an advisory board that includes current and former CEOs and presidents from companies including Mayo Clinic, Johnson & Johnson, Humana and Medtronic.
The company leverages the experience of its advisors and partners to provide portfolio companies with guidance, expertise and a network of contacts across the industry.
Since its founding in 2013, the growth capital firm has more than $785 million in capital under management for companies fostering innovation across the healthcare spectrum. Its investments have resulted in four merger and acquisition transactions — Ajax Health, Avizia, Spirox and VirMedica.
HealthQuest looks for companies that are operating with capital-efficiency and an urgency to build a large and profitable enterprise. The company typically invests anywhere from $10 million to $30 million per company, with the ability to invest up to $50 million overtime. The capital is primary directed towards growing revenues and scaling the company.
“HealthQuest sees great opportunity to support growth and expansion for a wide array of commercial companies that are developing new solutions to optimize value across all sectors of healthcare,” Kong said.
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