Former Healthcare Entrepreneurs &
Executives Partnering with Healthcare
Founders to Grow their Business

Expertise

BelHealth is focused exclusively on the healthcare industry. At nearly 18% of GDP, Healthcare is one of the largest and fastest growing segments of the U.S. economy, with a rich supply of companies having attractive investment characteristics. BelHealth looks to benefit from the favorable demographics, increasing penetration of information technology, intense focus on cost control and increasing consumerism.

The Fund takes majority positions in founder-owned businesses within the following core healthcare segments:

  • Healthcare Services
  • Healthcare Products
  • Healthcare Distribution

In the collective experience of the BelHealth Team, these segments reflect many of the favorable attributes of the healthcare sector. Moreover, they represent a large universe of companies that fit the Fund’s investment criteria and generally comprise the types of businesses in which members of the BelHealth Team have been successful as investors, operators and/or entrepreneurs.

Criteria

BelHealth seeks to make investments in founder-owned, lower middle market companies within the healthcare sector. In particular, the Fund invests $20-50 million per investment in companies with:

  • Enterprise Value: $20-100 million
  • Revenue: $10-100 million
  • EBITDA: $2-10 million

BelHealth targets companies with certain characteristics:

  • Recurring revenue model
  • Diverse customer base
  • Modest technology risk
  • Long term competitive advantages

Approach

Sourcing

BelHealth employs a disciplined and consistent process to screen, evaluate and make decisions regarding prospective investments. The Fund’s investment process is analytical, thorough and influenced by the judgment and intuition developed by the BelHealth Team through their industry, management and investment experience. BelHealth leverages our extensive healthcare network to find proprietary deals in addition to partnering with a myriad of third party advisors to source new investment opportunities.

Structuring

Given the investment team’s experience as investors, advisors and executives, the Managers of the Fund have a keen sense for how to craft transaction structures that are mutually attractive, align and protect the interests of the parties and provide flexibility to allow for changes over time as necessary. The general principles that the BelHealth team follows in its deal structures are control investments through majority ownership; management retaining meaningful ownership and receiving competitive compensation packages that reward strong performance; and limited use of leverage.

Building

BelHealth applies a hands-on governance and portfolio management model to its portfolio companies and brings together the collective experience of its whole team, including the Operating Partners and Advisory Board. BelHealth helps its portfolio companies through active board involvement, mentorship of senior executives, implementation of rigorous financial and operating controls, formal planning, budgeting and establishing strong accountability for performance. Additionally, BelHealth utilizes its extensive network of relationships to support the growth objectives of its portfolio companies.

Exiting

Following the successful implementation of operational improvements and best-in-class governance practices as well as achieving significant organic and acquisition-led growth, BelHealth seeks to run a competitive and banker led auction process in order to maximize investor returns. The culmination of 3 – 5 years of substantial effort leads to outstanding returns for our limited partner investors.