Health IT

Report: Healthcare investor Oak HC/FT is raising a new $500M fund

It is the second fund for Oak HC/FT which invests in growth stage companies in health IT and financial technology.

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Oak HC/FT Partners, a growth equity investor that targets health IT, healthcare services and financial technology, is raising a $500 million fund, according to PE Hub. This marks the second fund for the business.

The firm’s first $500 million fund closed in June 2014. The priorities for that fund were growth-stage, revenue-generating companies in health IT and fintech that had established a position in the market.

Annie Lamont, Oak HC/FT managing partner, summed up the investment strategy for MedCity News as part of a roundup of investor strategies last year.

“…addressing a broken system and improving it through the powerful combination of software, data, and services. That’s particularly the case when behavior change is an important part of what needs to happen to improve healthcare and materially bend the cost/quality curve. Appropriately, Aspire Health, Quartet, VillageMD and Axial Healthcare all have service as a component.”

The firm, which is a spinout from Oak Investment Partners,  is riding high on its most recent exit — Thermo Fisher Scientific announced Monday it acquired one of Oak HC/FT’s portfolio companies — Core Informatics. The software-as-a-service business for lab scientists in biotech and pharma, among other areas, had closed a $17.5 million Series B round led by Oak HC/FT in July 2015. The amount of the transaction wasn’t disclosed.

Some other companies in the investment firm’s portfolio include employer wellness business Limeade, Quartet — a tech infrastructure provider for improving behavioral health referrals by primary care physicians, and Hometeam, which is designed to help families find professional caregivers for seniors. Axial Healthcare, which developed a set of clinical support tools to analyze claims data and coordinate pain treatment between pharmacists, physicians and their patients, is also part of Oak HC/FT’s portfolio.

Photo: Bigstock

 

 

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