" class="no-js "lang="en-US"> Concord Health Partners Completes Final Close of Concord Innovation Fund II with Commitments of $150 Million - Medtech Alert
Friday, April 12, 2024

Concord Health Partners Completes Final Close of Concord Innovation Fund II with Commitments of $150 Million

Concord Health Partners (“Concord” or the “Firm”), a healthcare focused investment firm, today announced the final close of $150 million in new commitments for Concord Innovation Fund II (“Innovation Fund II”). Innovation Fund II builds on the Firm’s strategy of investing in healthcare companies with innovative technologies and solutions that enhance the value of care through lower costs, improved quality and expanded access. Innovation Fund II focuses on growth stage investments.

The $150 million raise represents 300% growth from the Firm’s inaugural fund, which closed in November 2019. To-date, more than 50% of the committed capital for Innovation Fund II has been deployed across six portfolio Companies, including Clarify Health, Loyal, Iris, Accelus and Mindmaze. Concord significantly expanded its investor base with more than 50 Limited Partners, receiving strong support from pre-existing relationships and meaningful participation from both strategic and traditional investors, including RIAs, endowments, family offices and other institutions. The Firm’s diverse LP base continues to strategically include a number of major provider organizations and payors as well as the American Hospital Association (the “AHA”), enabling Concord to work closely with its LPs to drive growth of its portfolio companies through accelerated adoption of innovative products and services.

“We are honored by the support we have received from both existing and new LPs as we work with our partners to identify and accelerate the growth of innovative companies that advance healthcare,” said James Olsen, Founder and Managing Partner at Concord. “The substantial increase in capital raised and LP participation in Fund II is a testament to our strategy and follows the recent growth of our senior team and the establishment of a Nashville office, better positioning the firm to identify and diligence new platform opportunities. The pipeline of innovation within the healthcare ecosystem remains robust, and we are excited to put this capital to work for the benefit of our investor base.”

The closing of Innovation Fund II marks the latest step in Concord’s evolution as it continues to expand its platform and footprint. The firm is exploring additional near-term offerings in the areas of emerging innovation and behavioral health.

“Concord has quickly proven its ability to source and execute on investment opportunities across the continuum of care,” said Rick Pollack, President and CEO at the AHA. “We look forward to continuing to partner with the Concord team and other LPs to build on the success and trajectory of the Concord platform and help drive growth across a broader range of emerging healthcare products and solutions.”

The raise follows the establishment of Concord’s office in Nashville, which has become a true hub of healthcare innovation and talent. The Nashville office enhances Concord ability to identify, diligence and execute on opportunities in the region. Concord also added Erik Larsen and Derek Schmidt as Managing Directors based in Nashville, and announced on July 11 that Brian Gragnolati, who currently serves as President and CEO of Atlantic Health System and is former Chairman of the Board of Trustees of the American Hospital Association, joined the firm as Executive Partner. In that role, Gragnolati is working to source new investment opportunities, support management teams and accelerate the growth of Concord portfolio companies.

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