Heritage Group, a Nashville, Tenn.-based healthcare-focused private equity firm, closed its third fund, at over $300m.
The fund was backed by some of the leading healthcare organizations in the nation, including large provider systems, payers and healthcare service providers.
Founded by Rock Morphis and David McClellan, Heritage will continue its strategy of making majority and minority investments, ranging from $20 to $40m per portfolio company, in high-growth healthcare services and healthcare technology businesses that address the challenges of the U.S. healthcare system.
The firm has invested in some of the leading healthcare services and technology companies, including Medical Solutions, Sharecare, HealthChannels, Abode Healthcare, MDLIVE, Lumere and Spero Health.
Heritage recently promoted Jesse Bland, Lauren Brueggen, Bryan Bui and Graham Hunter to partner. The firm also recently hired Jason Young as the firm’s CFO, who joined Heritage from RedBird Capital Partners and previously held roles at TPG Capital and KPMG.