HealthEdge Investment Partners

What HealthEdge Investment Partners does

HealthEdge Investment Partners, LLC is an operating-oriented private equity firm founded in 2005 and headquartered in Tampa, Florida, that invests exclusively in the US lower middle market healthcare industry. The firm partners with founders and management teams of healthcare companies generating $10-75 million in revenue and $2-10+ million in EBITDA, deploying control recapitalizations and growth capital across five segments: Specialty Medical Products & Devices, Outsourced Services, Specialty Distribution & Supply Chain, Healthcare Information Technology, and Provider Services (multi-site physician practices, home health and hospice, behavioral health, and women's health).

HealthEdge generates revenue through two streams: recurring management fees charged on assets under management across its four fund vintages (Fund I 2006, Fund II 2012, Fund III 2016, Fund IV 2023), and transaction-based carried interest on successful portfolio exits. Fund IV closed in August 2023 with over $160 million in commitments, exceeding target and supported by fund-of-funds, pension funds, endowments, high-net-worth individuals, and meaningful GP co-investment. Since 2006 the firm has completed 70+ acquisitions (21 platforms and 49 add-ons) and 13 exits totaling $2B+ in transaction value, including the sale of Corridor to WellSky at a 9.0x return and the sale of LifeSync to Amphenol after scaling the business from approximately $5 million to $100 million in revenue.

The firm is led by co-founders and Managing Partners Phil Dingle (former CEO/Chairman of PlanVista Corporation) and Brian Anderson (former partner/managing director of Baird Capital Partners), supported by 17 total team members including 8 investment professionals and 9 Operating Partners who provide operating, financial, and strategic support to portfolio companies. Active Fund IV platforms include Anodyne, Veridian Healthcare, Radsource, P3 Oral Surgery, and Western Microsurgical.

Name

HealthEdge Investment Partners

Legal name

HealthEdge Investment Partners, LLC

Website

https://healthedgepartners.com

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

11–50 employees

Short description

HealthEdge Investment Partners is a Tampa-based, healthcare-exclusive private equity firm founded in 2005 that makes control recapitalizations and growth investments in US lower middle market healthcare companies with $10-75 million in revenue and $2-10+ million in EBITDA, currently investing its $160 million-plus Fund IV.

Ownership category

akta.pro rank

Product category

Healthcare Private Equity

NAICS

Portfolio Management and Investment Advice (523940), Funds, Trusts, and Other Financial Vehicles (525)

SIC

Investment Advice (6282)

akta.pro primary industry

Healthcare & Life Sciences Growth Equity (FSANACAB)

akta.pro secondary industry

Sector-Focused Venture Capital (Vertical Specialists) (FSANAAAD)

Keywords

• Healthcare private equity
• Lower middle market investing
• Growth equity investments
• Recapitalization services
• Healthcare buyouts

Headquarters

HQ city

Tampa

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, Infrastructure, Others

Revenue model

1. Management Fees: HealthEdge generates revenue through management fees charged on the assets under management in their investment funds (Fund I through Fund IV). The firm manages over $160 million in commitments from Fund IV alone.
2. Carried Interest: The firm earns carried interest from successful portfolio company exits. Notable exit includes Corridor sold to WellSky yielding 9.0x return on investment, and LifeSync sold to Amphenol with strong investment returns from Fund II.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

HealthEdge Investment Partners is a lower middle market healthcare-focused private equity firm that makes recapitalizations and growth investments in US-based healthcare companies with revenues of $10-75 million and EBITDA of $2-10+ million. The firm invests through closed-end funds (Fund I through Fund IV) and provides portfolio companies with operational support from a network of former healthcare operators and strategic guidance, in addition to capital.

Product overview

HealthEdge Investment Partners is a lower middle market healthcare-focused private equity fund, not a software product company. The firm's primary offering is private equity investment services, providing growth capital and operational expertise to healthcare companies. The portfolio includes three main platform investments: Radsource (teleradiology services and ProtonPACS medical imaging software), P3 Oral Surgery (oral surgery service organization), and Veridian Healthcare (distributor of home health and diagnostic products). Additional realized investments include Corridor (revenue cycle management, sold to WellSky), LifeSync (patient monitoring devices, sold to Amphenol), and Western Microsurgical (surgical microscope services).

Differentiator

Problem solved

Functional benefit

Products and services

• Lower Middle Market Healthcare Private Equity Investment Services Recapitalizations and growth investments in US-based healthcare companies with revenues of $10-75 million and EBITDA of $2-10+ million, delivered through closed-end funds (Fund I through Fund IV) with operational support from a healthcare operator network. Serves founders, owners, and management teams of lower middle market healthcare businesses.
• Operational and Strategic Support to Portfolio Companies Hands-on operating partner engagement and strategic guidance delivered to healthcare portfolio companies through a dedicated operating partner network of former healthcare executives. Supports value creation, growth acceleration, and operational scaling across portfolio companies.

Named customers6 records

Segments6 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered minor and core.

• AmphenolminorStrategic or Co-development Partner · 18 February 2025HealthEdge completed the sale of LifeSync to Amphenol (NYSE: APH), one of the world's largest providers of connectors, interconnect systems, antennas, sensors and specialty cable. LifeSync grew from $5M to approximately $100M in revenue under HealthEdge ownership.
• WellSkyminorStrategic or Co-development Partner · 12 October 2023HealthEdge exited Fund II portfolio company Corridor to WellSky, a leading health and community care technology company backed by Leonard Green and TPG. WellSky acquired Corridor to expand its post-acute healthcare technology capabilities.
• United Western GroupcoreStrategic or Co-development Partner · 31 July 2023United Western Group partnered with HealthEdge and Advantage Capital Holdings to complete the recapitalization of Veridian Healthcare. Operating partners Robert Friedberg (CEO) and John Aldridge (Chief Digital Health Officer) undertook key C-suite roles at Veridian.

Scale indicators11 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• KKR Health Care Strategic Growth: Growth-oriented healthcare investment strategy within KKR targeting middle market healthcare companies. Overlaps with HealthEdge's growth equity orientation within healthcare, though at materially larger scale.
• New Mountain Capital: Large healthcare-focused growth equity firm investing across healthcare services, pharma services, and healthcare IT. Larger in scale but competes for similar lower middle market healthcare opportunities and shares the operating-partner thesis.
• Bain Capital Private Equity (Healthcare): Mega-fund private equity platform with a dedicated healthcare vertical investing across services, life sciences, and healthcare IT. Represents the scaled end of the healthcare PE competitive set versus HealthEdge's lower middle market focus.
• Carlyle Group (Healthcare): Global private equity firm with a substantial dedicated healthcare practice across services, life sciences, and medical products. A scaled incumbent that periodically competes for healthcare LMM deals that HealthEdge targets.

Direct peers

• Linden Capital Partners: Chicago-based healthcare-focused private equity firm investing exclusively in lower middle market healthcare companies. Closely comparable to HealthEdge in sector exclusivity, check size, and operating-partner value-creation model.
• Avista Capital Partners: Healthcare-focused middle-market private equity firm investing in healthcare services, pharmaceuticals, and medical products. Highly comparable in sector focus and target company profile to HealthEdge.
• Welsh, Carson, Anderson & Stowe: One of the longest-tenured healthcare-focused PE firms, investing across healthcare services, healthcare IT, and provider businesses. Comparable in sector dedication and lower middle market orientation, though typically at larger check sizes.
• The Vistria Group: Chicago-based middle-market PE firm with a strong healthcare services and education focus. Operates with a values-driven thesis and operator engagement model similar to HealthEdge's hands-on approach.
• Arsenal Capital Partners: Middle-market private equity firm investing in healthcare and specialty industrials. Overlapping healthcare verticals (specialty services, healthcare IT, provider services) make it a direct comparable in deal profile and scale.

Others

• Thoma Bravo: Large healthcare-IT and enterprise software-focused private equity firm. Indirect competitor for healthcare IT deals in HealthEdge's portfolio, particularly relevant given HealthEdge's investment in Radsource and its ProtonPACS imaging technology.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/healthedge-investment-partners

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

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

M&A7 records

Investments13 records

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

Frequently asked questions about HealthEdge Investment Partners