HealthCap Merges with The Cirrus Group
Leading Healthcare Real Estate and Investment Firms Join to Offer Expanded Breadth of Capabilities to Healthcare Operators
DALLAS (May 1, 2012) – HealthCap, LLC, a private equity firm specializing in the healthcare sector, announced its merger with The Cirrus Group, LLC an industry-leading healthcare real estate development and investment firm. As a result of the merger, HealthCap clients and investors benefit from a diverse mix of investment professionals with in-depth experience in healthcare investing.
“In this very dynamic healthcare industry, you are either adapting or you are dying,” said Bill Hutchison, CEO of The Cirrus Group. “The Cirrus Group has had a great run over the last 17 years. The HealthCap team is made up of dedicated professionals and it is time to turn the reins over to them.”
HealthCap focuses exclusively on investments in the healthcare sector, via the deployment of supporting capital to facilitate the strategic growth of healthcare businesses. Since 1996, HealthCap and its predecessor entities have sponsored approximately $1.1 billion in healthcare sector investments. Through partnering with HealthCap, healthcare providers benefit from the opportunity to gain liquidity, while maintaining a meaningful equity position in their business. HealthCap’s investments are typically structured as recapitalizations, buyouts, or infusions of growth capital in addition to healthcare facility investments. The business target is rapidly growing entrepreneurial businesses, which possess leading market share, the ability to accelerate growth and cash flow and the prospect for complementary acquisitions.
“We pride ourselves on being consummate students of the healthcare industry in order to make wise and profitable investments,” said Jason K. Dodd, Managing Partner, HealthCap. “This merger expands HealthCap’s capabilities and enables us to provide more comprehensive investment options to healthcare operators and consequently, to our equity partners.”
HealthCap will continue to be led by Mr. Dodd, Managing Partner, who has more than 20 years of finance, healthcare, and investment management experience.