Health Enterprise Partners

What Health Enterprise Partners does

Health Enterprise Partners (HEP) is a New York-based, healthcare-focused private equity firm founded in 2007 that invests growth equity and small buy-and-build capital into healthcare technology, technology-enabled services, and healthcare services companies. The firm manages the HEP Fund family across four successive vintages (HEP I–IV) with over $600 million in committed capital sourced from 30+ strategic payer and provider limited partners, and has completed 36 investments since founding.

HEP's investment strategy is thesis-driven and concentrated in ten focus areas including Administrative Automation, Behavioral Health IT & Services, Clinical Efficiency Tools, Medicare Advantage Enhancement, and Reimagining Value-Based Care. The firm targets revenue-positive companies at or near cash-flow breakeven, typically taking significant minority or majority positions as the first institutional investor. The team comprises a small core of investment professionals (Managing Partner Dave Tamburri, Partner Ezra Mehlman, Partner Scott Whyte, Principal Jessie Gentil) supported by a deep bench of Operating Partners and Executive Partners drawn from senior leadership at Kaiser Permanente, UPMC, Optum, HMS, Privia Health, Amazon Business Healthcare, and other major healthcare organizations.

Revenue is generated through management fees and carried interest on the HEP Fund vehicles, with limited partners including health systems, health plans, and other strategic healthcare investors that also serve as a sourcing and diligence network. HEP monetizes exits through strategic sales (e.g., Bardy Diagnostics to Hillrom, Catapult Health to Teladoc, Sapphire Digital to Zelis, Access Physicians to SOC Telemedicine), private equity recapitalizations (e.g., Pivot Point Consulting to Innovative Consulting Group in February 2026), and IPOs (Privia Health, April 2021). The firm maintains its own technology stack primarily for fund administration, investor relations, and content marketing (Sector Roadmaps, Pulse Check insights), with portfolio-level AI exposure concentrated in companies such as Alivia Analytics and NOCD rather than at the firm level.

Name

Health Enterprise Partners

Legal name

Health Enterprise Partners

Website

https://hepfund.com

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

1–10 employees

Short description

Health Enterprise Partners is a New York-based, healthcare-focused private equity firm managing over $600 million across four funds since 2007, making growth equity and buy-and-build investments in healthcare technology, technology-enabled services, and healthcare services companies backed by 30+ strategic payer and provider limited partners.

Ownership category

akta.pro rank

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Fund Management: HEP generates revenue through management fees and carried interest from its private equity funds. The firm has raised multiple funds (HEP I, HEP II, HEP III, HEP IV) with committed capital from strategic payer and provider LPs.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Health Enterprise Partners (HEP) is a healthcare-focused private equity firm that provides growth equity capital and operational support to healthcare technology, technology-enabled services, and healthcare services companies. The firm manages over $600M across four funds (HEP I, HEP II, HEP III, HEP IV) from 30+ strategic payer and provider limited partners, having executed 36 investments since founding in 2007. HEP targets revenue-positive companies with consistent cash flow, typically taking significant minority or majority ownership as the first institutional investor.

Product overview

Health Enterprise Partners (HEP) is a healthcare-focused private equity firm that operates as a fund management company, not a product company. HEP's core offering is the HEP Fund, which has committed over $600M across four funds with 30+ strategic payer and provider limited partners. The fund makes growth equity investments and small buy-and-build investments in healthcare technology, technology-enabled services, and healthcare services companies. The investment portfolio spans diverse focus areas including Administrative Automation, Behavioral Health IT & Services, Care Setting Optimization, Clinical Efficiency Tools, Innovative Pediatric Care Solutions, Medicare Advantage Enhancement, Outsourced Non-Core Services, Patient/Member Activation, Reimagining Value-Based Care, and Specialty Pharma IT and Services. HEP targets revenue-positive companies with consistent cash flow or near cash-flow breakeven, typically taking significant minority or majority ownership as the first institutional investor.

Differentiator

Problem solved

Functional benefit

Products and services

• HEP Fund (HEP I, II, III, IV) HEP's core private equity fund vehicle managing over $600M in committed capital across four funds (HEP I, HEP II, HEP III, HEP IV) with 30+ strategic payer and provider limited partners. The fund makes growth equity investments and small buy-and-build investments in healthcare technology, technology-enabled services, and healthcare services companies, providing capital alongside operational support from Operating Partners and Executive Partners.

Quantifiable outcome

• 36 successful investments since 2007
• +2 more outcomes

Named customers10 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core and minor.

• Innovative Consulting GroupcoreStrategic or Co-development Partner · 17 February 2026Innovative Consulting Group, a portfolio company of SV Health Investors, acquired Pivot Point Consulting in a transaction backed by HEP. The combined organization operates under the Pivot Point Consulting brand, offering expanded Managed Services, Strategic Advisory, and Talent Solutions.
• Health AI Partnership (HAIP)minorOthers · 28 October 2025C3, a health center consortium and HEP portfolio stakeholder, became a Corps Member in HAIP, a multi-stakeholder initiative involving over 35 healthcare delivery organizations and federal agencies focused on responsible AI adoption in healthcare.

Scale indicators4 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Cressey & Company: Healthcare-exclusive PE firm investing in growth-stage services and technology companies. Closely comparable thesis, check size, and focus on operator-led businesses across payer, provider, and services.
• Welsh, Carson, Anderson & Stowe: Long-established healthcare-focused growth equity firm. Directly comparable: HEP Co-Founder Rick Stowe was a General Partner at WCAS from 1979-1998, and HEP targets similar growth-stage healthcare services and technology companies.
• SV Health Investors: Healthcare-dedicated growth equity and venture firm. Co-invested with HEP and Petra Capital in the February 2026 Pivot Point Consulting / Innovative Consulting Group transaction, operating in the same healthcare services and tech buy-and-build space.
• Petra Capital Partners: Healthcare-focused growth equity firm that co-invested with HEP in the Pivot Point Consulting transaction. Targets comparable growth-stage healthcare companies with similar check sizes and operator-led thesis.
• Linden Capital Partners: Healthcare-focused middle-market PE firm. Similar fund size, growth-stage orientation, and concentration in healthcare services and tech-enabled businesses serving payers and providers.

Broad incumbents

• Audax Group: Middle-market PE firm with active healthcare practice. Audax Private Debt provided financing to an HEP portfolio company, indicating direct overlap in healthcare services investing and buy-and-build execution.
• General Atlantic: Global growth equity investor with meaningful healthcare technology and services exposure. Competes for similar growth-stage healthcare assets though at larger scale and across more geographies.
• New Mountain Capital: Larger growth-oriented PE firm with a significant healthcare services and technology vertical. Competes for similar growth-stage healthcare assets but with materially greater AUM and broader sector mandate.
• Bain Capital Life Sciences / Healthcare: Diversified alternative asset manager with dedicated healthcare PE practice. Overlaps with HEP in healthcare services and tech-enabled businesses but operates at materially larger fund sizes and broader sector scope.

Others

• Optum Ventures: Strategic corporate venture arm of Optum/UnitedHealthGroup investing in healthcare tech and services. Adjacent ecosystem participant — represents both a potential LP/strategic partner and a competitive capital source for HEP's payer-side and value-based care deals.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/health-enterprise-partners
• Xx.com/HEPFUND

Revenue estimate

Valuation estimate

Number of profiles

Profiles27 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments41 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Health Enterprise Partners