Park City, Utah-based, healthcare-focused private equity firm DW Healthcare Partners closed its third fund at $265m.
DWHP III exceeded its original target of $250m with support from pension plans, foundations, fund of funds, high net-worth individuals and family trusts. It focuses on the medical device, clinical research, wholesale pharmacy and outsourced healthcare service areas. seeking investments in companies with EBITDA of $4m or more.
The new fund has already made three investments (totaling approximately $80m) in:
– Z-Medica, a developer and manufacturer of innovative hemostatic agents,
– Health & Safety Institute, a provider of safety and emergency care content and training, and
– Med-Pharmex, a veterinary drug manufacturer
In order to cover the Eastern Coast of the United States and Canada more efficiently, DWHP recently opened an office in Toronto, Ontario, which will be led by co-founder Andrew Carragher and Managing Director Rod Boone, along with six other professionals.