Harbour Point Capital and Quantum Strategic Partners, a fund managed by the Soros family office, have made a growth capital investment in Oak Street Health, an operator of primary care centers focused on seniors with Medicare.
“Oak Street Health’s primary care model is at the nexus of population health, value-based care and rising consumerism – the three most important secular trends in health care,” said Robert Juneja, co-founder and Managing Director of New York-based Harbour Point Capital.
Today, Oak Street Health operates seven primary care centers in the Chicago metropolitan area, serving about 5,000 adults. Its primary care centers feature clinicians who specialize in the care of older adults; convenient locations; transportation to and from appointments for eligible patients; same-day appointments; bilingual staff; community rooms that host daily educational and social events; and at most locations, on-site pharmacy and dental services. The company was founded in 2012 and focuses exclusively on seniors with Medicare. Oak Street Health is headquartered in Chicago (www.oakstreethealth.com).
Oak Street Health plans to use the capital from Harbour Point and Quantum to fund expansion in the Chicago area and other Midwest markets. “We are excited to expand and bring improved care to the older adults in our communities. There are thousands more seniors in Chicago and in other parts of the Midwest who do not have access to primary care targeted to their needs,” said Mike Pykosz, co-founder and Chief Executive Officer of Oak Street Health.
Harbour Point Capital was formed by Robert Juneja and Bret Bowerman, both former investment professionals with Irving Place Capital, in January of 2015. Harbour Point invests from $10 million to $50 million of equity capital in companies that operate in the healthcare sector with a specific interest in companies active in accessible primary care, outpatient services, consumer-centered services and outsourced clinical services. Harbour Point is headquartered in New York City and initially plans to fund investments on a transaction-by-transaction basis (www.harbourpointcapital.com).
Quantum Strategic Partners (QSP) invests in long duration investments such as capital-intensive start-ups, project development and growth equity transactions. The investment advisor to QSP is Soros Fund Management, a private investment management firm that serves as the principal investment advisor to a number of private investment funds that are managed exclusively for Soros family clients. QSP is headquartered in New York.
© 2015 PEPD • Private Equity’s Leading News Magazine • 3-9-15
