Nancy-Ann DeParle, one of the nation’s leading experts in health care policy and finance, has joined Consonance Capital as a Partner. Consonance Capital focuses exclusively on private equity investing in the US lower middle market healthcare industry.
A top official in both the Obama and Clinton Administrations, Ms. DeParle will re-join her former partners Mitchell Blutt, MD, Benjamin Edmands and Stephen McKenna, who worked together for over a decade while at JPMorgan Partners.
“It is wonderful to be reunited with Nancy-Ann,” said Dr. Blutt, CEO of Consonance Capital. “There is no other individual with her combination of healthcare policy and industry insight and private equity investing expertise. She is a delightful partner who completes the re-assemblage of our private equity team.”
Ms. DeParle’s has over 20 years experience as a policy official, private equity investor, and corporate board member. From 2009 to January 2013, she served in the Obama White House, first as Counselor to the President and Director of the White House Office of Health Reform, where she spearheaded President Obama’s effort to enact the Affordable Care Act and managed the initial implementation of the law. In 2011, she was promoted to Assistant to the President and Deputy Chief of Staff for Policy, where she was one of President Obama’s most senior advisors and oversaw policy development in many areas, including health. Ms. DeParle also served under President Bill Clinton as the Administrator of the Centers for Medicare and Medicaid Services (CMS, formerly known as the Health Care Financing Administration), where she managed the $870 billion Medicare and Medicaid programs and oversaw the launch of the Children’s Health Insurance Program (CHIP). Ms. DeParle received a BA from the University of Tennessee and a JD from Harvard Law School. She also received a BA and MA in Politics and Economics from Balliol College of Oxford University, where she was a Rhodes Scholar.
“I have great respect for Mitchell, Ben and Steve and their approach to private equity investing,” said Ms. DeParle. “The team at Consonance Capital has a unique combination of deep clinical and healthcare business expertise, as well as many years of experience in working with management teams to build successful companies. I am excited to bring my knowledge to a team that is committed to making meaningful investments that will drive innovation and improve healthcare.”
Consonance Capital invests in healthcare companies that have revenues between $20 million and $150 million. Sectors of particular interest include providers (specialty providers, inpatient and outpatient facilities); payors (commercial, Medicare, Medicaid, and carve outs); distribution (pharmaceuticals, products, and specialty); devices (commercialized products); specialty pharmaceuticals (commercialized and later-stage development products); outsourced services (servicing managed care, pharma, and providers); and healthcare information technology. Consonance Capital was founded in 2005 and is based in New York (www.consonancecapital.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 8-8-13