Summit Partners, the Boston growth equity investor, said Greg Serrao joined the executive-in-residence program, tasked with helping the firm’s healthcare and life sciences team identify investment opportunities among growth-stage healthcare companies. Serrao, 53, is founder and executive chairman, and from 1996 until 2015 was chief executive, of American Dental Partners, which Summit had backed. Serrao also led American Dental, the Wakefield, Massachusetts, provider of business services to dental practices, to its 1998 initial public offering. He also served as an executive at Cardinal Health and as a healthcare-focused investment banker at Dean Witter Reynolds. Summit Partners currently has invested more than $7.2 billion in equity and fixed-income opportunities.
Healthcare Entrepreneur Greg Serrao Joins Summit Partners as Executive-in-Residence
BOSTON, MASSACHUSETTS – Summit Partners, a global growth equity investor, today announced the addition of Greg Serrao to the firm’s Executive-in-Residence (“EIR”) program. In this role, Mr. Serrao will work closely with Summit’s Healthcare & Life Sciences team to identify new investment opportunities within growth-stage healthcare companies.
Mr. Serrao joins Summit’s EIR program from American Dental Partners (“ADPI”), a company he founded in 1996 with financial and strategic support from Summit. Mr. Serrao served as Chief Executive Officer from 1996 until 2015, rapidly scaling the business and leading the company’s IPO in 1998. Summit remained involved with the company’s Board of Directors through 2008. Today, American Dental Partners is one of the largest providers of business services to multi-disciplinary dental groups in the United States and is affiliated with more than 25 dental group practices located in 21 states.
Since late 2015, Mr. Serrao has served as ADPI’s Executive Chairman. Prior to American Dental Partners, Serrao served as President of National Specialty Services, a subsidiary of Cardinal Health, and Vice President of Corporate Development at Cardinal Health. He began his career as an investment banker for Dean Witter Reynolds, where he co-founded its healthcare investment banking group and specialized in mergers, acquisitions and public equity offerings.
“Greg’s success as an entrepreneur and as a CEO has been impressive,” said Darren Black, a Boston-based Managing Director at Summit Partners. “He is an excellent operator with a keen talent for driving growth – organically and through acquisitions. We are thrilled to continue our partnership with Greg, and we feel confident about the impact he will have.”
“Summit proved to be a great partner throughout their investment in ADPI. Given our history together, it was an easy decision to join the Summit EIR program when the opportunity arose,” said Serrao. “I’m excited to again work alongside the Summit healthcare team and to bring my experience to new opportunities.”
Summit has been active in the healthcare & life sciences sector for more than three decades. Since the firm’s founding in 1984, Summit has partnered with more than 90 companies in growth-oriented sectors across the healthcare value chain, including physician-based practice management, home health, healthcare IT, accountable care organizations, laboratory services, and lab-based diagnostics.
Summit’s EIR program is an established and successful element of the firm’s growth-oriented investing strategy. Since its inception in 1999, the program has connected senior industry executives who work alongside Summit’s sector teams to identify investment opportunities, conduct due diligence, and create and support value creation plans for the companies with which Summit has partnered.