NewSpring Bolsters Healthcare Team with Industry Leader
October 01, 2021
New Partner will leverage extensive healthcare investment and operating experience to fuel the growth of healthcare companies transforming their industries
NewSpring (the "Firm"), a family of private equity strategies, today announced that Mike Kaplan has joined NewSpring Healthcare, the Firm's dedicated healthcare strategy, as a Partner, further complementing the team's already deep operational experience. For almost 20 years, NewSpring Healthcare has been partnering with management teams to accelerate the success of differentiated healthcare companies by delivering capital for growth, recapitalizations, and mergers & acquisitions.
A healthcare industry veteran, Kaplan has over 30 years of experience as an operating executive and investor. In his role as Partner, he will continue executing NewSpring Healthcare’s mission of growing, developing, and investing in lower-middle market healthcare companies that improve the delivery of healthcare or bend the cost curve of the healthcare industry through technology and human capital efficiencies.
Kaplan joins General Partners, Brian Murphy and Kapila Ratnam, PhD., alongside a deep bench of advisory partners who round out the strategy's healthcare industry expertise.
"As an industry leader with an extensive, successful track record of growing transformative healthcare companies, Mike has spent his entire career devising innovative, technology-focused solutions that have driven the healthcare industry forward," said Brian Murphy, NewSpring General Partner. "His deep industry knowledge and long history co-investing with the Firm further strengthen our team's ability to catalyze the growth of lower-middle market companies that are bringing new ideas and innovative business models to the market."
Before joining NewSpring, Mike was Managing Director of Altos Health Management, a healthcare investment firm he founded in 2009. In this role, and throughout his long association with NewSpring Healthcare, Mike has served as a co-investor on successful transactions with the team. Mike also served as an operating executive at Blue Shield of California, an investing partner at Three Arch Partners, and an advisor to Granite Growth Health Partners.
"The NewSpring Healthcare team possesses extensive domain experience and a passion for the sector that uniquely positions them to execute on strategic opportunities and help management teams grow their companies. I am thrilled to join this outstanding group of investors and former operators as we continue to partner with fast-growing, technology-enabled healthcare services, niche clinical providers, and specialty pharmaceutical companies that are advancing the state of healthcare in the U.S."
Since the strategy's inception, NewSpring Healthcare has completed 30 transactions and deployed $211 million in capital across three funds. With a deep network in the healthcare sector and a unique, technology-driven approach to deal sourcing, the strategy is well-positioned to continue to capitalize on this escalating momentum in the coming months.
"What differentiates our team is deep operational experience in healthcare and a commitment to leveraging it in a way that helps these transformative companies continue to grow," said Kapila Ratnam, Ph.D., NewSpring General Partner. "We are thrilled to welcome Mike to our expanding roster of senior team members and to continue to make new investments in this fast-growing area of the market."