Vesey Street Capital Partners, L.L.C.

VSCP is a private equity firm with substantial and differentiated healthcare services sector and sourcing expertise.  Specifically, we specialize in middle market buyouts, with a focus on businesses with strong cash flow characteristics that create value for hospitals, physicians, and health insurers by enhancing efficiency, expanding productivity, reducing costs, and growing revenues.  Since inception, the firm has deployed approximately $450 million in capital, primarily as a control investor.

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Portfolio Companies

Status: Active

 

HealthChannels is a collective of three distinct companies--ScribeAmerica, QueueLogix and CareThrough--that truly help hospitals, healthcare systems, and private practices streamline clerical processes.  ScribeAmerica is the nation’s largest and most frequently used medical scribe company. For more than a decade, our medical scribes have spared tens of thousands of physicians across the nation from millions of hours’ worth of digital documentation.  QueueLogix helps hospitals, healthcare systems and practices maximize revenue cycles by connecting backend business processes with frontline patient encounters in real-time.  CareThrough is a 360° care management solution for improving quality of care, patient engagement and financial outcomes. Our highly-skilled care navigation coordinators identify at-risk patients and improve the entire patient experience, leading to better health results and decreased costs.

Status: Active

 

PathGroup is a high growth, premier full-service laboratory providing high quality clinical, anatomic pathology, cytology, oncology, molecular, and genetic testing services to patients, physicians and hospitals across the U.S. with a leading presence in the Southeast and Midwest.  PathGroup has become a leader in its field based on its high clinical quality, physician-oriented service model, extensive testing menu and broad in-network payer coverage.  With origins dating back to 1965, PathGroup is led by a talented management team with over 100 years of combined industry experience.  Today, PathGroup employs over 1,230 professionals, operates primarily from a centralized Nashville-based laboratory, and offers over 1,125 unique tests.

 

Status: Active

 

Elite Body Sculpture is a founder-led, innovative physician services business that is a leading provider of minimally invasive body sculpting (nonsurgical fat reduction and fat transfer) procedures.  The Company's proprietary AirSculpt® procedure has revolutionized the body sculpting industry: it requires no needle, scalpel, stitches or general anesthesia, and provides the shortest known recovery times in the industry.  Elite Body Sculpture currently serves patients in seven markets across the United States, and provides over 3,000 procedures annually.

Status: Active

 

HRGi provides innovative cost containment solutions to the healthcare industry in the U.S. and Canada, reaching an estimated 50 million consumers through its clients, which include Insurance Carriers, HMOs, TPAs, Regional Health Plans, Self-Funded Employers and Taft-Hartley Funds.  HRGi is uniquely positioned as one of the few organizations in the industry that offers proprietary fee negotiation services, along with a national supplemental PPO network, through a single portal and seamless workflow.

Status: Recapitalized (October 2016)

 

ScribeAmerica is nation's leading provider of medical scribe solutions to hospitals and physicians.  ScribeAmerica's EMR experts are trained to alleviate up to 85% of a healthcare provider’s administrative responsibilities, thereby enhancing provider productivity, improving accuracy of clinical information and enabling physicians to focus on delivering high-quality patient care.  Through continual innovation in how electronic medical records are documented, ScribeAmerica is paving the way for a new model—one where providers can comfortably step away from computer screens to have more meaningful patient interactions.

Status: Exited (August 2017)

 

Imedex is an industry leader in providing independent continuing medical education for health care professionals. We develop high quality, scientific programming that translates the latest research into clinically relevant information. The activities have exceptional organization and outstanding educational value, with a proven sustained impact on disease management.

Our educational offerings focus on improving patient care around the world, and feature the premier global GI event, the World Congress on Gastrointestinal Cancer.  With more than 50,000 E-learning experiences annually and more than 97,000 live meeting participants since 2001, Imedex truly educates the global healthcare community.  At Imedex, education is the best medicine.

TEAM

VSCP AT A Glance

Firm History

Founded in 2014, the firm's partners trace a professional history together that goes back over 22 years.  The team worked side-by-side for a long period of time at Lehman Brothers before transitioning to lead M&A and strategy at two of the country's largest Healthcare Services companies.  Throughout that time, they have built C-Suite relationships with many of Corporate America's most successful healthcare organizations. The fund made its initial investment in ScribeAmerica within 60 days of formation.

Expertise

With over 50 combined years of analyzing and investing in Healthcare Services companies, and with an experienced and prestigious Healthcare Services-centered advisory board, VSCP possesses unparalleled industry knowledge and expertise.  Collectively the team has worked with hundreds of Healthcare companies and developed lasting relationships with industry executives and luminaries, which serve as the foundation for our deal-sourcing strategy.

Investment Philosophy

The U.S. Healthcare system is currently experiencing unprecedented change, triggered both by legislated system reform and by key constituent initiatives to drive new models of care.  Our experience highlights that these macro changes tend to create significant opportunities to create future value.  Fundamentally, we favor middle market companies that provide services to hospitals, physician groups, and payors that reduce costs, enhance efficiency, drive quality and build scale.

Investment Criteria
  • We invest in U.S. middle-market buyouts in the Healthcare Services sector
  • We prefer founder-led and corporate carve-out businesses
  • We target businesses with EBITDA of $5-30 million, with the ability to scale significantly higher
  • We focus on investments that meet our overall firm strategy, rather than check size
  • We actively invest in control transactions

With over 50 combined years of analyzing and investing in healthcare services companies, and with an experienced and prestigious healthcare services-centered advisory board, VSCP possesses unparalleled industry knowledge and expertise. Collectively the team has worked with hundreds of healthcare companies and developed lasting relationships with industry executives and luminaries, which serve as the foundation for our deal-sourcing strategy.