RADNOR, PA — NewSpring, a family of private equity strategies catering to the lower-middle market, has announced the final close of its oversubscribed fourth healthcare fund, NewSpring Health Capital IV. The fund raised over $180 million, marking a significant milestone for the firm’s healthcare-focused investment strategy.
NewSpring Healthcare boasts of two decades worth of experience investing in companies that are transforming the delivery of healthcare. The fund received robust support from a diverse group of existing and new investors, including strategic partners, financial institutions, and family offices. Triago served as the exclusive placement agent for the fund.
NewSpring General Partner Dr. Kapila Ratnam commented on the firm’s investment philosophy saying, “We partner with companies that influence healthcare by using technology and human capital in novel ways.” She added that they invest in management teams that share their passion for improving access to care, enhancing patient outcomes, and increasing efficiency while lowering costs.
The NewSpring Healthcare team leverages proprietary deal flow, identifying sectors that significantly influence healthcare through primary and secondary research. The fund has already made six investments before its final close, including in AeroSafe Global, a specialized pharmaceutical distribution services provider, and BetterNight, an end-to-end sleep disorders management provider.
NewSpring Partner Mike Kaplan expressed gratitude to their Limited Partners (LPs), acknowledging their support in what he described as ‘a successful fundraise in less-than-ideal macroeconomic circumstances.’ He also emphasized the team’s extensive healthcare expertise and networks as a key differentiator in their investment approach.
The NewSpring Healthcare team, led by Dr. Ratnam, Kaplan, and Brian Murphy, is complemented by a panel of advisory partners who bring a wealth of healthcare industry expertise to the table. This includes former executives from Paragon Bioservices, CVS Caremark, Barr Pharmaceuticals, Inc., and a 30-year healthcare industry veteran, Mark Pacala.
NewSpring Healthcare aims to continue capitalizing on its deep and expanding deal pipeline of innovative healthcare companies. The strategy will invest between $10 and $25 million in lower-middle market companies with revenues ranging from $10 to $100 million at the time of investment. As such, this move positions NewSpring to leverage escalating opportunities and growing momentum within the healthcare sector.
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