Accelmed Partners, an Aventura, Fla.-based private equity firm focused on acquiring and investing in U.S. commercial stage, lower middle market HealthTech companies, closed its second fund, Accelmed Fund II, LP, at $400m.
Fund II received backing from new investors globally, including pension funds, insurers, family offices, and high net worth individuals, as well as from existing Accelmed limited partners.
Led by Founder and Managing Partner Dr. Uri Geiger, together with General Partners Evan Norton, Lior Shav and Dr. Rafael Torgovicky, Accelmed is a private equity firm focused on acquiring and investing in U.S. commercial stage, lower middle market HealthTech companies.
Since 2009, Accelmed has deployed over $400 million into companies spanning medical devices, diagnostics, digital health and technology-enabled healthcare services. The firm seeks to accelerate value and scale innovation across the HealthTech field by bringing to bear the team’s industry experience, operational and financial expertise, and global relationships.
Consistent with its strategy, Fund II identifies and executes on investments in medical devices, diagnostics, digital health, and technology-enabled healthcare services with a focus on control-oriented opportunities in companies with revenues typically between $20m and $70m. Fund II also provides a certain allocation of non-control growth capital to companies within Accelmed’s domain expertise with revenues greater than $10 million over the past twelve months.
The closing of Fund II follows its first two investments, which included the acquisition of TearLab, an ocular surface diagnostics company for dry eye disease in July 2020, and leading a $67m financing round to support the commercial expansion of NeuroPace, a developer of brain technology for individuals who suffer from neurological disorders.
Fund II’s predecessor vehicle, Accelmed Fund I, LP, closed in 2016 with $130m in capital commitments, built on prior work executed by the team on similar strategies as part of the Arkin family office. Fund I investments included Cogentix Medical, which was acquired by Laborie in 2018 for $240m, Strata Skin Sciences (NASDAQ: SSKN), Keystone Dental Inc., and EndoGastric Solutions Inc., among other digital health companies.
Amanda Klein/Alex Jeffrey
Gasthalter & Co.