DW Healthcare Partners, a healthcare-focused private equity firm, closed its third fund with $265 million in commitments. The firm also said that it opened an office in Toronto, Ontario. During the course of fundraising, DW Healthcare Partners closed three deals with the new fund, investing in Z-Medica, Health & Safety Institute and Med-Pharmex.
DW Healthcare Partners, a healthcare-focused private equity firm, announced today that it has completed fundraising for its third fund (“DWHP III”), which has closed with $265 million of committed capital, exceeding its original target of $250 million. DWHP III investors are comprised of pension plans, foundations, fund of funds, high net-worth individuals and family trusts.
DWHP Co-Founder and Managing Director, Andrew Carragher said, “Through our partnerships with talented founders and management teams in our portfolio companies, we have been able to sustain a consistent track record of delivering above-average returns to our investors. As a result, we attracted a great deal of interest while fundraising for Fund III and are pleased that we have exceeded our target. We thank all of our limited partners for their commitment to our firm and look forward to forging new partnerships with innovators, founders, and management teams in the healthcare industry”.
During the fundraising period, DWHP completed three Fund III investments, totaling approximately $80 million. Through these investments, DWHP has become equity partners with Z-Medica, a leading developer and manufacturer of innovative hemostatic agents, Health & Safety Institute, one of the leading providers of safety and emergency care content and training, and Med-Pharmex, a leading veterinary drug manufacturer.
In conjunction with raising the third fund, the firm has opened an office in Toronto, Canada. This office will enable the firm to cover the Eastern Coast of the United States and Canada more efficiently. The Toronto office is staffed with Co-Founder Andrew Carragher and Managing Director Rod Boone along with six other professionals.
DWHP’s Fund III investment strategy mirrors the model of its first two funds, working as a strategic resource to founders to accelerate the growth of their businesses. DWHP’s first two funds were $88 million and $162 million in size, and resulted in 16 platform company investments in the medical device, clinical research, wholesale pharmacy and outsourced healthcare service areas. For Fund III, DWHP is seeking investments in companies with EBITDA of $4 million or more. Berchwood Partners served as placement agent for DWHP Fund III.
About DW Healthcare Partners
DW Healthcare Partners is a private equity firm focused exclusively on the healthcare industry. The firm manages over $500 million in committed capital and invests in profitable healthcare companies with proven management teams. DW Healthcare Partners is led by seasoned healthcare executives with more than 110 years of combined industry experience. The firm provides the capital, strategic guidance, and acquisition expertise to help mid-to-late-stage companies realize their potential for growth.