Strategy
We invest in businesses that we believe address the needs of the healthcare system by improving patient outcomes, lowering the cost of delivery, increasing efficiency, and aligning stakeholder incentives. Our portfolio is built around four key investment themes.
KEY INVESTMENT THEMES
We combine a top-down, bottom-up approach to identify and invest in solution-oriented companies that we believe are either best-in- or first-in-class, focusing on long-term winners with sound fundamentals, attractive valuation, and large market opportunities.
Coverage Expansion
- Managed care remains one of the best areas of investment in healthcare
- Political and regulatory headwinds that have plagued the sector at various points are minimal
- Medicaid enrollment likely to continue growing: Additional population expansion, potential economic slowdown
- Medicare Advantage growth outpacing FFS
Innovative Therapies & Diagnostics
- New therapeutics that meet unmet medical needs will drive growth, have pricing and market power, ripe for M&A
- Most exciting areas of growth: targeted oncology, neurology, gene therapy
- Innovative diagnostics address significant need: preventive and early treatment, lowering cost
Lower Cost Of Delivery
- Incentivize delivery from high-cost centers to lower-cost, without sacrificing quality
- Inpatient hospital procedures moving to lowercost centers of care such as ASCs andn outpatient centers
- Home infusion
- Dialysis move to the home and acute based
Behavioral Heath
- Mental health and substance abuse treatment is a large underserved market growing double-digits annually
- Covid has heightened awareness and need for these services
- Inpatient and outpatient services are the two biggest opportunities for investment in the space
Our Mandate Is Simple:
Identify and invest in solution-oriented companies that are either best-in- or first-in-class. We are focused on long-term winners with sound fundamentals, attractive valuation and large market opportunities, not short-term momentum driven trades.
