Advent International adds operating partner in China

Advent International has appointed healthcare veteran Lincoln Chee to its operating partner program in China. Chee will advise and work closely with Advent to identify investment opportunities and generate post-investment value within the regional healthcare sector.


Advent International, one of the largest and most experienced firms dedicated solely to private equity, announced today that it has appointed healthcare veteran Lincoln Chee to its Operating Partner Program. With deep knowledge of and extensive experience in the healthcare industry in the Asia-Pacific region, Dr. Chee will advise and work closely with Advent to identify attractive investment opportunities and generate post-investment value within the regional healthcare sector.

An experienced surgeon and seasoned executive in the healthcare sector, Dr. Chee’s industry experience spans more than two decades. He is a Venture Partner focused on life sciences at Vertex Venture Holdings, a venture subsidiary of Temasek Holdings. Prior to this, Dr. Chee was Chief Executive Officer and board member of Quality Healthcare Asia, Hong Kong’s first publicly listed healthcare company, from 2003 to 2012. Over his eight year tenure, he led the restructuring and turnaround of the group, doubling revenues to HK$1.1 billion, quadrupling its market capitalization and securing its sale to Fortis Healthcare for HK$1.52 billion in 2011. In 2009, Dr. Chee was selected as an outstanding entrepreneur of Hong Kong in the Asia Pacific Entrepreneurship Awards.

Previously, Dr. Chee led investments and held board positions at Arana Therapeutics in Sydney (acquired by Cephalon) and at Biosensors International, a leading drug eluting stent company listed on Singapore Stock Exchange. He is also a Consultant to Pronova Solutions, a next generation developer of Proton Therapy Systems based in Tennessee, US.

Dr. Chee started his career as a medical doctor and practiced as a consultant ENT specialist and Head and Neck Surgeon at Singapore General Hospital, the country’s largest tertiary medical institution. He is a Fellow of the Royal College of Surgeons in Edinburgh, Scotland and a Fellow of the Academy of Medicine Singapore in Otorhinolaryngology Head & Neck Surgery, and previously held committee positions with Hong Kong Government Food and Health Bureau on ehealth Records and Primary Care Delivery Models, and been an advisory member of the Hong Kong Trade and Development Council.
Filippo de Vecchi, Advent Managing Director and Co-head of Greater China, said: “We are very pleased to have Dr. Chee joining the firm’s Operating Partner Program. Advent is an active investor in the global healthcare sector, which is also a core area of focus for Advent in China. Dr. Chee’s operational and investment experience gives us great confidence in the value he will offer to our investment teams and portfolio companies in the region and globally.”

Commenting on his new role, Dr. Chee said: “I am enthusiastic about working with Advent’s Shanghai office and the rest of the global sector team. I look forward to sharing my regional and industry experience, and together exploring interesting opportunities within the healthcare space.”

Advent International has been an active investor in the healthcare sector for over 20 years and has invested in over 30 companies worldwide. Most recently Advent acquired Mediq, a leading business delivering pharmaceuticals, medical devices and related care services. Other recent investments include Connolly Inc. a leading technology-enabled provider of recovery audit services and CARE Hospitals, a multi-speciality hospital chain in India.

Advent’s Operating Partner Program, is a long-established and successful element of the firm’s highly operational approach to investing. The program includes over 60 senior industry executives, many of whom have been involved in multiple Advent investments. These executives typically assist in activities such as finding attractive investment opportunities, conducting due diligence, and creating and driving value creation plans for Advent’s portfolio companies.

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About Advent International
Founded in 1984, Advent International is one of the largest and most experienced global investors dedicated solely to private equity. Since inception, the firm has invested in more than 280 buyout transactions in 36 countries, achieving over 230 full or partial exits, and today has approximately $31.6 billion in assets under management. With offices on four continents, Advent has established a globally integrated team of over 170 investment professionals across North America, Europe, Latin America and Asia. The firm focuses on buyout and strategic repositioning transactions across five core sectors, including business and financial services; healthcare; industrial; retail, consumer and leisure; and technology, media and telecoms. After 29 years dedicated to international investing, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for portfolio companies.
Erin Smith | Account Executive
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