Health Enterprise Partners has made an investment in Aware Recovery Care, a provider of in-home addiction treatment solutions. No financial terms were disclosed.
NEW YORK, Feb. 3, 2021 /PRNewswire/ — Health Enterprise Partners (“HEP”), a healthcare private equity firm, today announced the consummation of an investment in Aware Recovery Care, the ninth platform investment in its third fund, and a number of organizational changes.
Investment in Aware Recovery Care
On January 29, HEP announced an investment in Aware Recovery Care, a pioneer in the in-home addiction treatment space. The company will deploy this growth capital to support rapid expansion and increased access to high-quality, whole-person healthcare. Aware’s In-Home Addiction Treatment (IHATTM) program is backed by a decade of experience delivering individualized, evidence-based treatment and research showing that integrated medical and behavioral healthcare in the home setting enables lasting recovery.
Aware partners with leading payers to offer IHAT as a covered benefit to members with substance use disorder. Demand for Aware’s IHAT program has accelerated in the face of increasing rates of substance use disorder during the COVID-19 pandemic. Through a 52-week, home-based biopsychosocial curriculum that leverages best-in-class technology solutions to enhance the delivery of in-home addiction treatment, Aware drives proven outcomes for its patients and significant cost savings to its payor partners.
Health Enterprise Partners also announces a number of organizational changes, effective January 1st.
Pete Tedesco was promoted to Managing Partner. Pete joined HEP in 2015, prior to which he worked at Olympus Partners and Waud Capital Partners. “Pete has been a trusted partner to me for a number of years,” said Stacie Bratcher, CEO of Jet Health. “He has a unique ability to synthesize the core drivers of success and provide supportive guidance to build value for our patients, employees, and shareholders.”
Bob Schulz and Rick Stowe have each become Founder and Partner Emeritus. They will continue to stay actively involved with the firm. “When we co-founded Health Enterprise Partners in 2004, our vision was to build an enduring franchise that would invest in category-leading healthcare companies. We are confident that our firm will continue to thrive for many years to come under the leadership of Managing Partners Dave Tamburri, Ezra Mehlman and Pete Tedesco,” said Rick and Bob.
Lynn Weld has been appointed Chief Financial Officer. Lynn previously served as HEP’s Controller. Prior to joining HEP in 2010, Lynn held accounting roles at various private equity and hedge fund firms, including Brysam Global Partners, Allegra Partners and Pantheon Partners. Prior to her work with private equity and hedge funds, Lynn was an Audit Manager at PricewaterhouseCoopers LLP. “We are thrilled to promote Lynn to CFO. The dedication, analytical rigor, and strong corporate citizenship that she has demonstrated across our more than 10 years working together are an asset to our firm and its limited partners,” said Dave Tamburri.
About Health Enterprise Partners
Health Enterprise Partners provides expansion capital to the most innovative healthcare services and healthcare information technology companies. Central to HEP’s strategy is its unique and extensive hospital system and health plan network, 36 members of which are investors in HEP’s funds. HEP seeks to invest in companies that improve the quality of the patient experience, expand access, and reduce the cost of healthcare.
For more information, please visit http://www.hepfund.com.