Spurred by the migration to new payment methodologies and a rapidly evolving competitive landscape, many managed care companies have launched venture and innovation programs. This article provides a high-level evaluation of the universe of model options accessible to payers who are interested in such programs. Read More
Ezra Mehlman, HEP Vice President, authored the article “Launching a Payer Venture and Innovation Group: Options and Trade-Offs” in The American Journal of Managed Care. Read More
Applied Pathways LLC today announced that healthcare industry veteran Steve Lefar has assumed the role of Chief Executive Officer and will join its Board of Directors. Founder and current CEO John Feldman will continue in an operating role as Chairman of the Board.
Michael J. Dowling is President and Chief Executive Officer of Northwell Health (formerly the North Shore-LIJ Health System). With 21 hospitals, more than 450 outpatient physician practices and a full complement of long-term care services, Northwell Health is one of the nation’s largest health systems, with nearly $8 billion in annual revenue. Michael served in New York State government for 12 years, including seven years as state director of Health, Education and Human Services and deputy secretary to the governor. He was also commissioner of the New York State Department of Social Services. Earlier this month, Mr. Dowling spoke to the audience of the HEP Annual Meeting about issues affecting large hospital systems, the healthcare industry in general, and the Hofstra Northwell School of Medicine. Read More
The reports of primary care’s death have been greatly exaggerated. My very conservative estimate is that there has been a recent infusion of over $1.2 billion in venture investment into organizations squarely focused on reviving primary care. Read more of this article by Dave Chase. Read More
As health systems begin to explore opportunities to move into the realm of venture capital, they can benefit from the lessons learned from corporations and other health systems that have experience with such a strategy. Read more.
Lockton Benefit Group today announced a material investment in its InfoLock® data intelligence platform. The enhancements to the platform improve Lockton’s ability to partner with their clients to identify health trends and respond to areas driving the cost of health. Lockton uses InfoLock to advise employers on developing comprehensive health management programs to address the continuum of health risks across their working population. Read more.
Accomplished healthcare executive Jim Glynn to lead home healthcare platform
For Immediate Release
Irvine, CA, April 15, 2016 – SV Life Sciences Advisers (“SVLS”) and Health Enterprise Partners (“HEP”) announced today that they have partnered with experienced healthcare services executive Jim Glynn to form Jet Health, Inc. (“Jet Health”). The new company will develop, acquire, and operate home health care companies as part of a strategy to build a leading national home health platform. SVLS, HEP and Mr. Glynn have committed significant equity capital to fund the growth of Jet Health.
Jim Glynn, Jet Health’s CEO, is a seasoned and highly accomplished home health care executive with deep expertise in building, acquiring, and growing home health care and home infusion businesses. Previously, Mr. Glynn served as CEO of Amerita, Inc., a private equity-backed specialty infusion platform. Mr. Glynn founded Amerita in 2006 and successfully grew the company to become the fifth largest specialty infusion provider in the U.S., with 18 locations generating $140 million in annualized revenue. Prior to his tenure at Amerita, Jim served in various senior management roles at Apria Healthcare, Gentiva Health Services, and Coram Healthcare. “At Amerita, Jim successfully built a health care services company that empowered local operators and clinicians to deliver high quality services in growing markets. We are excited to partner with Jim to replicate that model in home health care,” said Tom Flynn, Managing Partner at SVLS.
Home health care is a diversified industry comprised of skilled nursing care, physical, speech and occupational therapy, rehabilitative care, medical social services, personal care, and companion services. Jim stated, “The home health industry is poised to continue its strong recent growth driven by an aging U.S. population, patient preference to be treated in a comfortable and convenient setting at home, and significant cost savings relative to care in inpatient or nursing home facilities. I look forward to building Jet Health into a premier home health business in partnership with SVLS and HEP.” California-based Jet Health plans to leverage local brands and operating expertise while sharing best practices across its companies and centralizing traditional back office functions. Dave Tamburri, Partner at HEP, commenting on the critical role home health care plays in the post-acute care continuum, “Under Jim’s proven leadership, Jet Health will seek to partner with health systems and other providers to bring innovative approaches to post-acute care.”
About SV Life Sciences Advisers
SV Life Sciences Advisers, LLC (“SVLS”) is a global leader in healthcare and life sciences investing. SVLS affiliated funds have been investing in such companies since the early 1980s, forming its first dedicated healthcare fund in 1994. Today, SVLS manages five funds with approximately $2.0 billion of capital commitments under management. The firm has invested in over 175 companies through its venture funds, and employs a diversified investment strategy capitalizing on opportunities in the following subsectors; therapeutics, medical devices, healthcare information technology (HCIT) and healthcare services. SVLS employs a close symbiosis between operating and financial professionals which has led to significant success over five investment funds. SVLS has offices in Boston, London and San Francisco. For more information, please visit the company’s website at http://www.svlsa.com.
About Health Enterprise Partners
Health Enterprise Partners invests primarily in privately held, profitable, middle market companies in the health care information technology and health care service sectors. HEP’s strategy is to leverage its unique and extensive hospital system and health plan network, 26 members of which are investors in HEP’s funds. HEP seeks to invest in companies that improve the quality of the patient experience, reduce the cost of health care, and improve operating margins for their customers, typically hospital systems and / or health plans. For more information, please visit http://hepfund.com
New Investment Supports Continued Geographic and Product Growth While Adding Experienced Behavioral Healthcare Executive to Management Team
St. Louis, MO — December 2, 2015 — CenterPointe Behavioral Health System, LLC (CBHS)
announced today a control growth capital investment co-led by a syndicate of investors including Health Enterprise Partners and NaviMed Capital, with participation by Siguler Guff & Company, LP.
CBHS currently owns and operates high-quality freestanding psychiatric hospitals, outpatient behavioral programs, and other psychiatric specialty programs in multiple states including Missouri, Illinois, and Minnesota. CBHS assets include CenterPointe Hospital in St. Louis, MO and Signature Psychiatric Hospital in Kansas City, MO.
The senior management team at CBHS is led by Dr. Azfar Malik and John “Buddy” Turner. As the founder of CenterPointe Hospital, Dr. Malik continues his leadership role as President and Chief Medical Officer of CBHS. Since founding CenterPointe Hospital in 2003, Dr. Malik has grown CenterPointe’s clinical offering from 20 beds to nearly 200 beds while delivering consistently high quality care to a broad spectrum of psychiatric patients in a variety of care settings including inpatient, partial hospitalization, intensive outpatient, and outpatient practices.
Mr. Turner, an experienced behavioral healthcare executive, has recently joined CBHS as Executive Chairman and Chief Executive Officer to drive the company’s strategic plan as he leads the next phase of growth for CBHS.
“The entire CenterPointe Behavioral Health Systems family is excited for the next chapter of our growth with our new investors and in partnership with Buddy Turner,” said Dr. Azfar Malik. “CBHS commits to continue serving patients and their families with the highest clinical quality behavioral health programs.”
Prior to joining CBHS, Mr. Turner led Behavioral Centers of America (BCA), a multi-site behavioral care company, through its successful sale in 2013. HEP and Siguler Guff were investors in BCA, and Rick Stowe, a partner of HEP, served on the Board of Directors. Mr. Turner has more than 20 years of healthcare management experience in both the non-profit and the proprietary sectors.
“I am excited to work with Dr. Malik and the team at CBHS as we build on the strong foundation
of clinical care that they have created over the past 15 years,” said John “Buddy” Turner.
“Recognizing the significant policy-driven growth opportunity in behavioral health, NaviMed is pleased to partner with CBHS, one of the leading proprietary mental health services providers in the country,” said Dr. Bijan Salehizadeh, CBHS board member and Managing Director at NaviMed Capital.
“Continuing our tradition of investing in and helping build leading behavioral healthcare companies, Health Enterprise Partners is enthusiastic to be partnering with Dr. Malik, Buddy, and all of the employees at CBHS,” said Ezra Mehlman, CBHS board member and Vice President at Health Enterprise Partners.download press release