Healthcor Management

What Healthcor Management does

HealthCor Management, L.P. is a fundamental, healthcare-focused investment manager founded in 2005 by Art Cohen and Joe Healey, both CFA charterholders with over 20 years of co-investing experience derived from prior roles at S.A.C. Capital Advisors, Tiger Management, Kingdon Capital, and Dreyfus Corporation. The firm is headquartered at 55 Hudson Yards in New York and runs a long-short equity hedge fund strategy launched September 1, 2005, sub-advisory mandates for several multi-manager mutual funds and a UCITS fund, and a private equity strategy through an affiliated, separately registered entity, HealthCor Partners Management, L.P. The investment process is bottom-up, catalyst-driven fundamental research concentrated across four healthcare sub-sectors — Pharmaceuticals, Medtech, Biotech, and Services — with emphasis on strong balance sheets, cash flow, organic growth, earnings revisions, and management quality, and ESG considerations are integrated into the process.

The firm's revenue model is subscription-recurring management and performance fees on assets under management across the hedge fund, sub-advisory, and affiliated private equity strategies; specific fee schedules are not publicly disclosed. Distribution is conducted through a dedicated investor relations function targeting institutional investors and family offices, complemented by sub-advisory relationships that route the strategy into retail intermediary vehicles and European UCITS capital. Governance includes an Advisory Committee of four independent industry experts covering hedge fund law, accounting, manager research, due diligence, and corporate governance. On January 3, 2023, HealthCor's team and therapeutics strategy were acquired by Catalio Capital Management, LP, with the hedge fund strategy continuing to operate under the HealthCor brand.

Name

Healthcor Management

Legal name

HealthCor Management, L.P.

Website

https://healthcormanagement.com

Company type

Private

Founded year

2005

Operating status

Acquired

Headcount range

11–50 employees

Short description

HealthCor Management, L.P. is a New York-based, healthcare-focused investment manager running long-short equity hedge fund, sub-advisory, and private equity strategies for institutional investors and fund managers. Founded in 2005, it was acquired by Catalio Capital Management in January 2023.

Ownership category

akta.pro rank

Product category

Healthcare Hedge Fund Management

NAICS

Portfolio Management and Investment Advice (523940), Open-End Investment Funds (525910)

SIC

Investment Advice (6282)

akta.pro primary industry

Equity Long/Short — Healthcare Focus (FSAHAAAK)

Keywords

• Healthcare investment management
• Long-short equity strategy
• Sub-advisory services
• Hedge fund management
• Biotech equity research

Headquarters

HQ city

Charleston

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Hedge Fund Management Fees: Long-short equity hedge fund strategy launched September 1, 2005, generating returns through management fees and performance fees on assets under management.
2. Sub-Advisory Services: Acts as sub-adviser to several multi-manager mutual funds and a UCITS fund, generating fee income from these institutional relationships.
3. Private Equity Management: Affiliate HealthCor Partners Management, L.P. manages a private equity strategy as a separately registered entity.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

HealthCor Management, L.P. is a fundamental healthcare investment manager that runs a long-short equity hedge fund strategy focused on global healthcare and life sciences equities. The firm also acts as sub-adviser to several multi-manager mutual funds and a UCITS fund, while an affiliated entity, HealthCor Partners Management, L.P., manages a separate private equity strategy.

Product overview

HealthCor Management, L.P. is a fundamental healthcare investment manager offering a platform of healthcare-focused investment products. The core offering is its long-short equity hedge fund strategy (launched September 1, 2005), which seeks superior risk-adjusted returns through investments in equity and equity-related instruments. The firm also acts as sub-adviser to multi-manager mutual funds and a UCITS fund, all leveraging the same rigorous bottom-up fundamental research process. Separately, its affiliate HealthCor Partners Management, L.P. manages a private equity strategy. The firm concentrates investments across four major sub-sectors: Pharmaceuticals, Medtech, Biotech, and Services.

Differentiator

Problem solved

Functional benefit

Products and services

• Long-Short Equity Hedge Fund Strategy HealthCor's flagship long-short equity hedge fund strategy that invests across Pharmaceuticals, Medtech, Biotech, and Services sub-sectors, employing a modest amount of leverage and a large short portfolio with stock-specific ideas aimed at generating alpha and preserving capital in down markets. Offered to institutional investors and other qualified clients.
• Multi-Manager Mutual Funds Sub-Advisory Services HealthCor acts as sub-adviser to several multi-manager mutual funds, providing its bottom-up fundamental research process and healthcare security selection expertise within these vehicles. Designed for fund sponsors seeking specialist healthcare exposure.
• UCITS Fund Sub-Advisory Services HealthCor serves as sub-adviser to a UCITS fund, extending its healthcare-focused investment expertise to this regulated European investment vehicle for European institutional and professional investors.
• Private Equity Strategy A separately registered private equity strategy managed by HealthCor's affiliate, HealthCor Partners Management, L.P., focused on healthcare and life sciences investments for investors seeking healthcare private equity exposure.

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Two partnerships are on record, tiered core and minor.

• HealthCor Partners Management, L.P.coreOthersAffiliate entity that manages a private equity strategy as a separately registered entity. This is a related but distinct business operation from HealthCor Management's hedge fund and sub-advisory activities.
• HealthCor Offshore GP, LLCminorOthersGeneral Partner of the hedge fund strategy that works with the Advisory Committee to provide necessary information for informed decision-making. This is an internal operational entity rather than an external partnership.

Scale indicators2 records

Recent moves7 records

Expansion highlights4 records

Direct peers

• Baker Bros. Advisors: Healthcare-focused investment manager with long-only and long-biased strategies applied to biotech and life sciences equities. Closely analogous to HealthCor's domain specialization and bottom-up fundamental approach.
• RA Capital Management: Healthcare-focused long-only and long-short crossover fund investing across therapeutic areas, medtech, and tools. Compares directly to HealthCor in vertical specialization, sector coverage, and institutional LP orientation.
• OrbiMed Advisors: Healthcare-dedicated investment platform spanning public equities and private investments. Overlaps HealthCor's healthcare focus across pharma/medtech/biotech and combines fund management with PE exposure like HealthCor's affiliated PE strategy.
• Deerfield Management: Healthcare-focused investment firm combining public equity strategies with venture and private credit. Comparable to HealthCor in sector concentration, fundamental research approach, and breadth of healthcare sub-sector coverage.
• Perceptive Advisors: Healthcare-focused investment firm operating long/short equity and credit strategies across biotech, specialty pharma, and medical devices. Direct substitute for HealthCor's long-short public equity healthcare mandate.
• EcoR1 Capital: Biotech and healthcare specialist manager focused on scientific-driven fundamental investing in public equities. Overlaps HealthCor's catalyst-driven, bottom-up research orientation in pharma/biotech.
• Cormorant Asset Management: Healthcare-focused long-only and long-short manager with deep biotech and medtech specialization. Highly comparable to HealthCor in product mix, sub-sector coverage, and institutional footprint.
• Vivo Capital: Healthcare-dedicated investment firm investing across public and private healthcare companies in pharma, medtech, and services. Analogous to HealthCor's combined public-equity hedge fund plus PE affiliate structure.

Broad incumbents

• BridgeBio Pharma-related investment arms / Janus Henderson Global Life Sciences: Large incumbent healthcare/biotech public equity strategies run within broader asset managers. Compete with HealthCor for institutional healthcare mandates but at materially larger AUM and broader product portfolios.
• Franklin Templeton (Biotech/Healthcare strategies): Global incumbent asset manager with dedicated healthcare/biotech long-only and long-short capabilities. Adjacent competitor for healthcare equity mandates and sub-advisory relationships.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/healthcorptnrs
• Facebookfacebook.com/HealthCor-Management-LP-126124600775379

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

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

M&A

Investments23 records

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

Frequently asked questions about Healthcor Management