Jan 09,2017

Vesey Street Capital Partners Announces Significant Portfolio Expansion and Strengthens Investment Team with the Addition of Three Experienced Healthcare Professionals

NEW YORK--(BUSINESS WIRE)--Vesey Street Capital Partners, LLC (VSCP), a strategic private equity firm dedicated to middle market healthcare services investments, today provided an update on the company’s investments and formally announced the addition of three senior-level healthcare investment professionals to the firm. Larry Marsh and David De Luca have joined the firm as general partners, and Bryan Sekino was appointed as chief financial officer.

“We are closing out an extremely busy and successful year as we build great momentum entering the new year,” said VSCP Founder and General Partner Adam Feinstein. “We’re proud of the growth we’ve seen in 2016 and are looking forward to working together with Larry, David, and Bryan to further the company’s leadership in the sector.”

Among the notable portfolio updates that VSCP announced include:

In October, VSCP led the recapitalization of HealthChannels, a holding company with three distinct segments that collectively meet the full range of providers’ increasingly complex healthcare data and documentation needs. Among these companies are ScribeAmerica, the nation’s most used medical scribe company, which touches the lives of more than 30 million patients and 1,400 partner providers; QueueLogix, a service that closes the gap between back-office activities and frontline patient encounters; and CareThrough, which provides specialized patient care and population health management strategies to help providers achieve improved outcomes at lower costs.

In August, VSCP was a co-investor, along with the Pritzker Group, in the recapitalization of PathGroup, one of the largest private providers of anatomic pathology and clinical lab services in the United States.

In addition, Imedex, an established leader in the independent accredited healthcare education industry, experienced record high attendance in 2016 at its marquee meetings including World GI, AIBD, and L&M.

“Larry and I have worked together for most of the past 20 years, and I’ve also had the benefit of working closely with David and Bryan for many years at Lehman Brothers. I am extremely pleased that they have joined the VSCP team,” said Feinstein. “Larry has been an advisor to Vesey Street Capital Partners since last year, and in his current expanded role is playing a key part in working closely with the executive management teams of our portfolio companies as they continue to execute their strategic growth strategies. His relationships and extensive industry knowledge will also be a valuable asset to VSCP as we identify potential investments to add to our growing portfolio. David will lead our capital formation and investor relations activities. Under his leadership during his time at Morgan Stanley, the firm’s U.S. equity sales effort was consistently ranked in a leading position in industry polls. And, with Bryan’s near decade of experience, I’m confident that he will be a great addition to our team.”

Larry Marsh has more than 30 years of experience in the financial analysis, business development, investment banking and strategic advisement areas in the healthcare services industry. He has been a key advisor in providing solutions to a wide range of public and private companies in the pharmaceutical, medical, dental and vet supply chain, pharmacy benefit management, cost management managed care, physician services, and healthcare information technology sectors as part of the capital raising process. Marsh was previously Executive Vice President of New Market Development and Chief Strategy Officer at AmerisourceBergen, a global pharmaceutical sourcing and a distribution company. Prior to joining AmerisourceBergen in 2012, Larry was a managing director at Barclays Capital, Lehman Brothers, Salomon Smith Barney and Wheat First Butcher Singer.

David De Luca joined Vesey Street Capital Partners from Morgan Stanley where he was a managing director and head of U.S. institutional equity sales in New York and other regions, along with several other businesses within the global equities business. De Luca was also a managing director of U.S. institutional equity sales at Lehman Brothers. He was a former corporate litigation associate at Simpson Thacher & Bartlett and a senior aide to United States Senator Daniel Patrick Moynihan in Washington, D.C.

Prior to joining VSCP, Bryan Sekino worked at Brant Point Capital Management, where he was responsible for healthcare investments across a diversified portfolio. He was also an analyst at Lehman Brothers and Barclays Capital, where he focused on the healthcare facilities sector.

Mr. Feinstein concluded, “We are excited about our recent investments and helping these organizations to grow both organically and via acquisitions. At the same time, we have significantly strengthened our team with the addition of Larry, David and Bryan, three experienced and well respected healthcare professionals in the investment community. We are entering 2017 with great optimism and look forward to expanding our investments as the year progresses.”

About Vesey Street Capital Partners LLC

Vesey Street Capital Partners is a strategic private equity manager founded in 2014 with substantial and differentiated Healthcare Services sector and sourcing expertise. VSCP specializes in middle market buyouts and growth equity investments, with a focus on founder-led businesses with strong cash flow characteristics that create value for hospitals and physicians by enhancing efficiency, improving quality, reducing costs and expanding revenues. The recapitalization of HealthChannels in 2016 marked the firm's fourth transaction since inception, which combine for approximately $400 million in capital deployed. For more information on Vesey Street Capital Partners, visit www.vscpllc.com.

Contacts

Vesey Street Capital Partners LLC

Adam Feinstein, 212/213-4156

Founder & General Partner

adam@vscpllc.com

or

The Blueshirt Group

Bob Jones, 212/871-5570

bob@blueshirtgroup.com

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