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Health Care Shop Seeks $150M For Maiden Fund

EDG Partners, which buys small health care companies, is trying to raise $150 million for its debut fund, a source close to the fundraising told Buyouts.

The Arlington, Va.-based firm has so far raised $92 million through two closings, the source said. Touchstone Group LLC, a New York-based placement agency, is assisting.

EDG Partners, which invests $5 million to $25 million at a time, is particularly interested in information technology, distribution, outsources services, disposables and consumables. It avoids medical devices, biopharmaceuticals and life sciences companies subject to Food & Drug Administration approval risk.

Its portfolio has included Gemino Healthcare Finance, a company that extends term loans and revolving credit lines to health care service providers; Caresite Pharmacy, an operator of nine clinical pharmacies; and Regency Healthcare Group LLC, an operator of three hospice brands.

To read more about EGG’s fundraise, see the upcoming Buyouts feature on promising emerging managers, to be published Aug. 15.

Bernard Vaughan is a Senior Editor at Buyouts Magazine. Follow his tweets @BVaughanReuters.