NASHVILLE, Tenn., Jan. 28, 2013 /PRNewswire/ -- Clayton Associates, a leading source of equity capital for early-stage companies in the Southeast, announces the addition of Jim Fitzgerald, founder and former president of HealthTrust Purchasing Group (HPG), to its team. Fitzgerald will be joining Larry Kloess, former HCA TriStar president, as a senior advisor with the firm, effective January 2013.
Fitzgerald led Brentwood, Tenn., based HPG from its formation in 1999 until his retirement in May 2012. He oversaw the financial and operational functions for HPG and also managed the contracting for suppliers, pharmaceuticals and capital equipment, totaling more than $20 billion annually. Fitzgerald has 31 years of healthcare-related operations and leadership experience, having held several positions with HCA including president of Supply Chain Services, VP of Contracts and Operations Support , AVP of Operations Support , and Director of Internal Audit.
"Jim brings a unique skill set and perspective that make him an excellent enhancement to our team – and a great asset to our entrepreneurs," said Stuart McWhorter, chairman and president of Clayton Associates. "The entrepreneurial community is fortunate to have a healthcare executive as talented as Jim, who is willing to share his knowledge and experience with others."
Fitzgerald's new role will include advising both the firm and FCA Venture Partners on prospective investments as well as current portfolio companies. FCA Venture Partners is the venture capital investment manager of Clayton Associates, making early and growth-stage investments. FCA is currently raising its fifth fund, FCA V, which is focused on healthcare services and technology. Fitzgerald will join Kloess as a Special Operating Partner on FCA V's Advisory Board.
"Adding someone with Jim's extensive healthcare experience, particularly in supply chain management, provides our portfolio companies with a better understanding of, and access to, healthcare systems, suppliers and end users," says Matt King, managing partner of FCA Venture Partners. "As healthcare continues to evolve under new parameters, like those established in the Affordable Care Act, Jim's relationships and insight will add value to our team."
ABOUT CLAYTON ASSOCIATES
Clayton Associates was co-founded in 1996 by Stuart McWhorter and R. Clayton McWhorter, founder of HealthTrust, Inc. and former chairman of Hospital Corporation of America. Clayton Associates is a holding company known for its venture capital manager, FCA Venture Partners, which provides early stage and growth equity to companies primarily in healthcare services and technology. Clayton Associates also manages operating companies, makes angel investments, and is actively involved in serving the community.
Lovell Communications Inc.
SOURCE Clayton Associates