Granite Growth Health Partners, a new growth equity firm focused on health services companies, has launched. Granite Growth will make investments between $10 million and $50 million. Granite Growth is backed by HarbourVest Partners.
STAMFORD, Conn. and SAN FRANCISCO – (December 4, 2017) – Experienced health services investors Diane Daych and Mark Brooks announced today the launch of a growth equity firm exclusively focused on health services companies, called Granite Growth Health Partners (Granite Growth). Daych and Brooks, who each have extensive experience investing in, operating and managing high-growth health services companies, will serve as co-managing partners.
“We are very excited to launch a firm solely focused on the unique needs of companies addressing the financing, management and delivery of care,” said Daych. “This is a dynamic time in our nation’s healthcare delivery system, and we see an extraordinary opportunity to leverage our combined operations and management expertise to partner with management teams and help them maximize growth, build true value and strengthen the delivery of care.”
Granite Growth’s founding partners bring successful track records of developing market leaders and have created billions of dollars in exit value.
“We understand what it takes to grow and scale health services companies so they can become market leaders,” said Brooks. “Our collective knowledge enables us to deliver superior returns to our investors and empower our companies to develop true value for shareholders, providers, payors and patients.”
Granite Growth purchased its current health services assets through a secondary transaction and is backed by HarbourVest Partners, one of the largest global private equity investment managers. Granite Growth makes investments in the $10 million to $50 million range to help companies reach their full potential and achieve clinical and operational excellence.
“Granite Growth shares many of HarbourVest’s values around innovation, industry leadership and providing solutions and results for clients. We are proud to partner with Diane and Mark in this new venture, and look forward to working with them to help grow winning health services companies,” said Michael Pugatch, Managing Director at HarbourVest Partners.
The firm’s current portfolio reflects a successful track record of identifying high-potential opportunities to strengthen the delivery of care and create market leaders. Current companies in Granite Growth’s portfolio include CleanSlate Addiction Treatment Centers, Narus Health, QualDerm Partners and TripleCare.
“The Granite Growth partners appreciate that providers have unique needs and challenges to navigate, particularly in the increasingly complex healthcare environment,” said Gregory Marotta, President and CEO of CleanSlate Addiction Treatment Centers. “Even more than strong investors, they are trusted, hands-on advisors who bring an incredible depth of knowledge and experience to their partnerships.”
Granite Growth partners with health services companies to help them grow, scale and succeed. Granite Growth:
Leverages its superior network to develop boards and management teams
Determines when and how to accelerate growth to take advantage of market opportunities
Optimizes capital efficiencies
Develops playbooks for operational, clinical and regulatory excellence
Refines and refocuses strategies based on in-depth market analysis
Also on the Granite Growth team is seasoned healthcare executive and investment veteran Paul Brown, who joins as a venture partner. Brown brings more than 25 years of experience as a venture capitalist, entrepreneur, lawyer and professor. Previously, he was a managing director at Sandbox Industries, where he co-founded the firm’s BlueCross BlueShield corporate venture funds.
Daych brings more than 30 years of investing, advisory and operating experience, with more than 25 years of experience in the health services industry as an operator and investor. She previously led the health services growth equity investing at a healthcare focused venture firm, was a managing director and co-head of private equity at the Marwood Group and a was partner at CCP Equity Partners.
Brooks brings more than 25 years of experience investing in, operating and managing high-growth health services companies, several of which have become market leaders. He previously co-founded MMC Health Services and Scale Venture Partners, a diversified venture firm with more than $1.5 billion AUM, where he co-led the healthcare group for more than 15 years.
About Granite Growth
Granite Growth Health Partners is a growth equity firm that exclusively invests in and partners with health services companies, and has a successful track record of developing market leaders that strengthen the delivery of care. The firm invests in and provides strategic support to emerging growth health services companies with proven business models. Granite Growth makes investments in the $10 million to $50 million range to help companies reach their full potential, achieve clinical and operational excellence and create true value. Learn more at granitegrowthhealthpartners.com
HarbourVest is an independent, global private markets investment specialist with more than 35 years of experience and more than $45 billion in assets under management. The Firm’s powerful global platform offers clients investment opportunities through primary fund investments, secondary investments and direct co-investments in commingled funds or separately managed accounts. HarbourVest has more than 400 employees, including more than 100 investment professionals across Asia, Europe and the Americas. This global team has committed more than $32 billion to newly-formed funds, completed over $18 billion in secondary purchases and invested over $7 billion directly in operating companies. Partnering with HarbourVest, clients have access to customized solutions, longstanding relationships, actionable insights and proven results.