Deerfield Management Co. said it raised a fund aimed at healthcare investments that’s worth $1.6 billion.
Deerfield Private Design Fund III is "designed to provide flexible private financing to healthcare companies," according to a press release.
The fund "is to advance all aspects of medicine and human health," Deerfield said, in sectors including medical devices, biotech, pharmaceuticals, healthcare services and animal health.
"Deerfield is proud to play a leading role in advancing innovation in the development and delivery of healthcare products and services through investment, information and philanthropy. Few other industries can have such a profound impact on the quality and length of life," managing partner James Flynn said in prepared remarks.
Deerfield said the fund is its 3rd, again aimed solely at the healthcare space. The 1st fund raised $500 million and the 2nd "is in the final stages of committing" roughly $1 billion, according to the release.