Family Care Partners, a platform company of Varsity Healthcare Partners, has hired Thomas Watson as its Chief Executive Officer and Paul Miller as its Chief Financial Officer. Both new officers have senior experience operating companies under private equity ownership.
Family Care Partners was formed in December 2015 by Varsity and Colonial Family Practice to consolidate and centralize non-clinical management functions of primary care and ancillary services providers in South Carolina (www.colonialfamilypractice.com).
“We could not be more pleased to welcome Tom and Paul to the Family Care platform,” said David Alpern, a founding partner of VHP. “Both of these top-notch healthcare operating veterans have experience building and leading healthcare provider platforms while at the same time ensuring consistent and excellent patient care.”
Mr. Watson has been active with Varsity Healthcare Partners as an operating partner and special advisor since July 2014. Prior to joining Family Care Partners, Mr. Watson was a senior vice president and general manager for the Consumer Division of Aetna. He has also held multiple CEO roles running privately held companies, including serving as CEO of Hometown Urgent Care, a portfolio company of Ridgemont Equity Partners that was sold in March 2014. He was also the CEO of Avizent, a third-party claims administration company, and a portfolio company of KRG Capital Partners that was sold to York RSG, a competitor of Avizent, in January 2012. Mr. Watson earned his MBA from the University of Baltimore and holds a BA in accounting from The Ohio State University.
“The decision to join Family Care Partners as its CEO was an easy one for me,” said Mr. Watson. “The Varsity Healthcare Partners team has proven its ability to identify segments within the healthcare economy that are ripe for this growth and patient care strategy, and the executives at Colonial have already put the foundation in place to build a leading regional primary care and diagnostic services business.”
Most recently, Mr. Miller was the CFO of Cornerstone Healthcare, a physician-owned multi-specialty medical practice with 350 providers. Prior to that he was the CFO for Avizent where he worked with Mr. Watson. Mr. Miller earned his JD from Capital University Law School and his bachelor’s degree in political science and sociology from Miami University.
Varsity Healthcare Partners is an investor in founder and/or entrepreneur owned companies that are active in the healthcare services sector and have from $5 million to $15 million of EBITDA. The firm was founded by David Alpern and Kenton Rosenberry and has offices in Los Angeles and Stamford (www.varsityhealthcarepartners.com).
© 2016 PEPD • Private Equity’s Leading News Magazine • 1-27-16