NaviMed Capital today said it raised its 1st fund, a $110 million pool it plans to use to back “lower middle-market healthcare businesses” in the services, IT, hospital products and distribution sectors.
The Washington, D.C.-based private equity shop said its 1st investment from the fund went to healthcare risk management company Lucent Health Solutions.
“Our partnership with NaviMed has been invaluable to the success of our business” Lucent Health CEO Brett Rodewald said in prepared remarks. “We chose to partner with NaviMed based on their strengths in the financing community, deep relationships with DC health policymakers, and ability to work with our executive team providing key insight into the healthcare industry.”
“As we have witnessed in every prior period of U.S. healthcare reform, change driven from Washington, D.C., can create significant opportunities for forward-looking healthcare companies,” added NaviMed managing director Ryan Schwarz. “We are honored to have assembled such a strong group of limited partners who support our mission to find and partner with the best healthcare growth companies.”