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Growth equity firm for healthcare to launch next month

3:18 pm by | 0 Comments

Industry veterans from Ernst & Young, Johnson & Johnson (NYSE:JNJ) and Deloitte are planning to launch a healthcare growth equity company to provide turnaround services and to help new companies get off the ground.

Scheduled to open next month, the firm will help underperforming companies improve sales. It will also serve as a launchpad for smaller companies with $20 million to $100 million in annual sales and offer equity investment.

David Shrier, the CEO of KeyView Partners, spoke to MedCity News in a phone interview. Shrier previously served as an entrepreneur-in-residence at Ernst & Young and prior to that focused on health at middle-market growth equity fund Compass Partners. Like his cofounders Tom Gardner, the chairman, and Richard Shanley, its vice chairman, all have led companies, turned them around and sold them. The company will have offices in New York City and Sarasota, Florida.

“We provide a point of view informed by deep experience, specific ideas on how to take advantage of the transformation sweeping the $2.5 trillion healthcare system and operating executives who demand to be held accountable for their results,” Shrier said.

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Among the companies it is working with are Big Pharma and global biotechnology companies, mid cap public companies with market caps of $250 million to $1 billion. It will focus on cloud-based systems, big data, analytics and connectivity. It also sees opportunities in the consumer and retail sectors, not only for consumer healthcare but also in terms of “brand innovators” and “evidence-based marketing.”

“The companies we look to work with are interconnecting big data and analytics, and implementing solutions,” Shrier added.

The healthcare industry is in the process of evaluating how electronic health records will be managed with the latest meaningful use recommendation published last night. There is also a network of healthcare information exchanges being implemented on a regional, statewide and national level. The company plans to help businesses navigate this web of information and platforms.

Shanley serves as the vice chairman of Lakumi Markets and has worked for Deloitte. Gardner is the executive chairman of Integrichain, a software as a service company that works with the healthcare and biopharmaceutical sectors, and is based in Princeton, New Jersey. He also led Access Health, which was later acquired by McKesson. He has also worked at Johnson & Johnson in marketing and general management with McNeil Consumer Health and presided over making Tylenol an over-the-counter medication.

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Stephanie Baum

By Stephanie Baum

Stephanie Baum is the East Coast Innovation Reporter for MedCityNews.com. She enjoys covering healthcare startups across health IT, drug development and medical devices and innovations deployed to improve medical care. She graduated from Franklin & Marshall College in Pennsylvania and has worked across radio, print and video. She's written for The Christian Science Monitor, Dow Jones & Co. and United Business Media.
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