RoundTable Healthcare Partners Raises $500 Million for Second Private Equity Fund
Firm Continues Strategy to Partner with Healthcare Companies That Will Benefit From RoundTable’s Industry Relationships and Operating Expertise
LAKE FOREST, IL, March 24, 2005 — RoundTable Healthcare Partners, an operating-oriented private equity firm focused on the healthcare industry, announced today the closing of its second fund totaling $500 million in equity capital. RoundTable’s second fund was initially targeted at $400 million. One month after fund raising efforts commenced, the firm closed its second fund at the maximum amount the firm said it would accept in commitments. RoundTable closed its first fund of $400 million in March 2002. The second fund’s limited partners are comprised of substantially all of RoundTable’s first fund investors as well as several new institutions. RoundTable’s institutional investors include financial institutions, university endowments, fund managers, pension funds and foundations.
“We are pleased our original strategy has produced strong deal flow and investment returns,” said Lester B. Knight, Managing Partner of RoundTable and one of its Founding Partners. “Closing our second fund allows us to continue executing our strategy of investing in healthcare companies that can benefit from our strong operating focus and industry relationships. We thank all of our limited partners for their support and commitment.”
RoundTable’s entire original team is committed to the second fund. The Founding Partners of RoundTable are Joseph F. Damico, Lester B. Knight, Jack L. McGinley, and Todd E. Warnock. David J. Koo was a founding Principal and was promoted to Partner in early 2005. Leonard G. Kuhr is RoundTable’s Chief Financial Officer and a founding Principal. R. Craig Collister joined the firm as a Vice President in 2002 and was promoted to Principal in early 2005.
RoundTable has expanded its team over time to add dedicated, senior operating personnel who serve for the benefit of portfolio companies. Robert B. DeBaun is Senior Vice President of Human Resources, John W. McConachie, Jr. is Senior Vice President of Health Systems, and Sue Cho is the firm’s Controller.
RoundTable focuses its investments on established, profitable companies in targeted healthcare segments that can benefit from the firm’s expertise, relationships and operating oversight. Targeted healthcare segments include medical products (devices and disposables), medication delivery systems, specialty pharmaceuticals, specialty distribution, and complementary outsourced services.
“Our approach is to partner with owner/founders and management teams of our portfolio companies to build on their strong foundations and to accelerate their growth strategies with our complementary operating experience and relationships,” said Mr. Knight. “We seek partners who are interested in our strategic resources and relationships as much as our financial capital.”
To date, RoundTable’s first fund has completed six platform company investments and multiple add-on acquisitions. Realizations in the first fund have resulted from the sale of Sabex and the recapitalization of AMIH in 2004.
Davis Polk & Wardwell served as legal advisor to RoundTable for the fund raising efforts. RoundTable did not use a placement agent.
RoundTable Healthcare Partners, Lake Forest, IL, is an operating-oriented private equity firm focused exclusively on the healthcare industry. The partners of RoundTable have significant experience in managing, operating, acquiring and financing multibillion-dollar diversified healthcare companies. RoundTable partners with companies that can benefit from its extensive industry relationships and proven operating and transaction expertise. More information about RoundTable Healthcare Partners can be found at www.roundtablehp.com.