Persistence Capital Partners, a Canadian private equity firm focused on the healthcare services sector, has held a second close on more than C$65 million for its debut fund.
Persistence Capital Partners (“PCP”), a leading Canadian healthcare services investor, today announced a successful second closing of Persistence Capital Partners LP, its debut fund. PCP LP has now received commitments in excess of $65mm, and will have its final close at the end of Q1 2010.
As Canada’s only private equity fund focused on healthcare services, PCP aims to create significant long term capital appreciation by identifying and pursuing attractive investment opportunities in the Canadian healthcare market.
PCP currently has investments in 4 platform companies, each leaders in their respective spaces, including: (i) Medisys Corporate Health LP – Canada’s largest provider of healthcare services to corporations; (ii) a provider of diagnostic imaging (radiology) services in Southwestern Ontario; (iii) a pan-Canadian provider of medical information collection services for the Canadian life insurance industry; and (iv) a provider of advanced diagnostic imaging services in Quebec.
PCP is currently actively investing its debut fund, and aims to acquire platform companies in the Canadian healthcare services industry, with initial equity investments between $5 and $20 million. The Fund will not invest in biotechnology, pharmaceutical discovery, or medical devices.