WCAS hires former Providence president as operating partner

Butler formerly worked as president of Providence, where he helped increase revenue from $2 billion when he joined in 1998 to $25 billion. 

Welsh, Carson, Anderson & Stowe hired Mike Butler as an operating partner. Butler formerly worked as president of Providence, where he helped increase revenue from $2 billion when he joined in 1998 to $25 billion.

Press Release

Welsh, Carson, Anderson & Stowe (WCAS), a leading private equity firm focused exclusively on the healthcare and technology industries, announced today that Mike Butler has joined the firm as an Operating Partner.

Mike Butler has over 30 years of experience across a range of senior executive roles in the healthcare industry. He was formerly President of Providence, where he helped to create the third largest health system in the U.S., increasing revenue from $2 billion when he joined in 1998 to $25 billion today. Mike also served as Providence’s CFO and COO, with accountability for ambulatory and hospital operations, finance, strategy, technology, digital innovation, clinical institutes, population health and people development. Butler graduated from California State University Fullerton.

Brian Regan, WCAS General Partner, said: “We have known Mike for several years through our strategic partnership with The Health Management Academy and are excited that he is now joining WCAS. Our Firm has a long history of partnering with leading health systems. We’re confident that Mike will bring new ideas and insights to complement those efforts, as well as provide our portfolio companies with the benefit of his judgment and experience.”

Mike Butler added, “I am energized to partner with WCAS’s team of talented, committed professionals and portfolio company leadership teams that share our entrepreneurial spirit. It is an honor to join an organization that has a legacy of excellence, unwavering team culture and strong results.”

Over the past four decades, WCAS has successfully invested approximately $10 billion of equity in over 90 healthcare companies through its 13 private equity funds.

About Welsh, Carson, Anderson & Stowe

WCAS is a leading U.S. private equity firm focused on two target industries: healthcare and technology. Since its founding in 1979, the firm’s strategy has been to partner with outstanding management teams and build value for its investors through a combination of operational improvements, growth initiatives and strategic acquisitions. WCAS has deep experience in acquiring founder-led businesses and corporate carve-outs. The firm has raised and managed funds totaling over $27 billion of committed capital. For more information, please visit www.wcas.com.