HealthCor

What HealthCor does

HealthCor Management, L.P. is a New York-based, SEC-registered investment management firm founded in 2005 by Art Cohen and Joe Healey. The firm applies a bottom-up, fundamental, catalyst-driven research process to identify mispriced global healthcare and life science equities, organizing coverage across Pharmaceuticals, Medtech, Biotech, and Services sub-sectors. Its core product is a long-short equity hedge fund strategy launched September 1, 2005, which uses modest leverage and a large short portfolio and is positioned to preserve capital in down markets. The firm also operates as a sub-adviser to several multi-manager mutual funds and a UCITS fund, extending its security selection expertise across additional vehicles.

Revenue is generated through management fees and performance fees on the hedge fund and private equity strategies, plus sub-advisory fees. The firm maintains an affiliated private equity manager (HealthCor Partners Management, L.P.) and a foundation trust. Co-founders Cohen and Healey bring 20+ years of co-investing experience, with prior roles at S.A.C. Capital Advisors, Tiger Management, Kingdon Capital, and Dreyfus Corporation. As of January 3, 2023, the firm's therapeutics team and strategy were acquired by Catalio Capital Management, LP, marking a material restructuring event for the platform.

Name

HealthCor

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, SEC-registered investment manager founded in 2005 that runs a healthcare-focused long-short equity hedge fund and sub-advisory mandates for institutional and qualified investors.

Ownership category

akta.pro rank

Product category

Healthcare Investment Management

NAICS

Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394)

SIC

Investment Advice (6282)

akta.pro primary industry

Equity Long/Short — Healthcare Focus (FSAHAAAK)

Keywords

• Healthcare investment management
• Long-short equity funds
• Sub-advisory mutual funds
• Healthcare private equity
• Hedge fund management

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: HealthCor generates revenue through management fees and performance fees (carried interest) from its long-short equity hedge fund strategy launched September 1, 2005. The firm also earns sub-advisory fees from multi-manager mutual funds and UCITS fund mandates.
2. Private Equity Management: HealthCor's affiliate, HealthCor Partners Management L.P., manages a private equity strategy as a separately registered entity, generating management and performance fees.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

HealthCor Management, L.P. is a healthcare-focused investment management firm managing a long-short equity hedge fund strategy with a modest amount of leverage and a large short portfolio. The firm also acts as sub-adviser to several multi-manager mutual funds and a UCITS fund, and through its affiliate HealthCor Partners Management, L.P. manages a private equity strategy in the healthcare and life sciences sector.

Product overview

HealthCor Management, L.P. is a fundamental healthcare investment manager offering a platform of healthcare-focused investment products. The core offering is the Long-Short Equity Hedge Fund Strategy (launched September 1, 2005), which employs bottom-up fundamental research to identify mispriced healthcare and life science equity securities. The platform extends through sub-advisory services to multi-manager mutual funds and a UCITS fund, all benefiting from the same rigorous research process. Separately, the affiliate HealthCor Partners Management, L.P. manages a private equity strategy as a independently registered entity. The firm organizes 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 Core healthcare-focused long-short equity hedge fund strategy employing modest leverage and a large short portfolio, designed for qualified investors and emphasizing capital preservation in down markets through bottom-up fundamental research.
• Multi-Manager Mutual Funds Sub-Advisory Services Sub-advisory services to several multi-manager mutual funds, providing HealthCor's bottom-up fundamental research expertise for healthcare security selection within those vehicles.
• UCITS Fund Sub-Advisory Services Sub-advisory services to a UCITS (Undertakings for Collective Investment in Transferable Securities) fund, extending HealthCor's healthcare investment expertise to this European regulated fund structure.
• HealthCor Partners Private Equity Strategy Private equity strategy in healthcare and life sciences managed by affiliate HealthCor Partners Management, L.P., a separately registered entity extending HealthCor's investment offerings beyond hedge funds.

Quantifiable outcome

• Preserve capital in down markets

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• HealthCor Partners Management, L.P.coreStrategic or Co-development PartnerHealthCor's affiliate manages a private equity strategy which is a separately registered entity. This separate but affiliated entity extends HealthCor's investment offerings beyond hedge funds to include private equity investments in healthcare and life sciences.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• OrbiMed Advisors: One of the largest healthcare-dedicated investment firms globally, running both public long-short/biotech strategies and private equity in healthcare and life sciences. Directly comparable to HealthCor in sector specialization, dual public/private exposure via affiliated vehicles, and institutional LP base.
• Baker Bros. Advisors: Healthcare-focused long-biased equity manager with deep biotech and life sciences expertise, serving institutional and family office clients. Closely comparable to HealthCor in sector specialization, fundamental/catalyst-driven security selection, and institutional sub-advisory relationships.
• RA Capital Management: Healthcare and life sciences-focused investment manager combining a long-only public equity fund with venture/private financing of biotech. Comparable to HealthCor's blend of public equity research and affiliated private equity activity through HealthCor Partners.
• Perceptive Advisors: Healthcare-focused investment manager running credit, venture and long-biased equity strategies. Comparable to HealthCor in sector concentration and cross-strategy platform serving sophisticated institutional investors.
• Deerfield Management: Healthcare-dedicated investment firm offering public equities, private equity, venture, and royalty/structured financing. Closely comparable to HealthCor's diversified healthcare platform and institutional distribution model.
• EcoR1 Capital: Boutique healthcare and biotech-focused long/short equity manager founded by industry veterans. Directly comparable to HealthCor's boutique scale, healthcare sector focus, and long-short fundamental research process.
• Sectoral Asset Management: Healthcare-focused global equity manager running long-only and long-short strategies with bottom-up fundamental research. Directly comparable to HealthCor in sector specialization and catalyst-driven idea generation.
• Cormorant Asset Management: Healthcare and biotechnology-focused investment manager with public and private strategies. Comparable to HealthCor in sector focus and dual public/private platform serving institutional investors.
• Aisling Capital: Healthcare-dedicated investment firm running both public long/short equity and private/venture strategies. Comparable to HealthCor's combination of long-short public equities with affiliated private equity activity.

Others

• Catalio Capital Management: Healthcare and life sciences-focused investment firm that acquired HealthCor's therapeutics strategy team in January 2023. Relevant as the acquiring entity, integrator of HealthCor talent, and adjacent healthcare-focused investor with overlapping strategy DNA.

Market position

Strengths5 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

Subsidiaries3 records

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