Healthcare focused private equity investor Chicago Pacific Founders has held a closing of $194 million of a targeted $350 million for its debut fund. The $194 million of committed capital was provided by 49 limited partners and the general partner.
Chicago Pacific was launched in 2014 and invests exclusively in healthcare services. The firm will invest up to $75 million of equity capital per opportunity in growth, minority recap and buyout transactions for cash flow positive businesses.
Chicago Pacific was founded by Managing Directors Mary Tolan, Lawrence Leisure, and Vance Vanier. Ms. Tolan is the former CEO of Accretive Health – a hospital and physicians billing process manager which she co-founded in 2003 – and former Group Chief Executive for the Resources Operating Group at Accenture (previously Andersen Consulting). Mr. Leisure is a healthcare operating executive and is the current Chairman of ADVI Reimbursement and Health Policy Advisory Services and a former senior advisor of venture capital firm Kleiner Perkins Caufield & Byers. Mr. Vanier is also a healthcare operating executive and doctor – he received his medical degree from the Johns Hopkins University School of Medicine.
A recent transaction for Chicago Pacific was the October 2015 formation of Marquee Dental Partners. The firm committed $35 million in capital to fund the new platform. Marquee Dental is led by CEO James Usdan who has served as CEO of three public companies and five private equity-backed firms. He has more than 30 years of experience in healthcare provider and multi-site management operations, including having led or served as a board member of four dental service companies.
Joining Mr. Usdan at Marquee Dental are COO Christy Englehart – who has 25 years of dental operations experience – and Chief Dental Officer Dr. Steve Hecklin, CFO Luke Lamphron and Vice President of Business Development Les Matthews. Marquee Dental is based in Nashville (www.marqueedentalpartners.com).
Chicago Pacific has offices in Chicago and San Francisco (no website found) (LinkedIn).
© 2015 PEPD • Private Equity’s Leading News Magazine • 12-4-15
