HealthQuest Capital Closes Oversubscribed Fund at $225 Million

MENLO PARK, Calif., March 15, 2016 /PRNewswire/ -- HealthQuest Capital, a leading investor in emerging companies in healthcare innovation, announced the closing of HealthQuest Capital II, LP, at the hard cap of $225 million and in excess of the initial fund target of $175 million. Investors in the fund include endowments, family offices, foundations, fund-of-funds, pension funds, and global healthcare organizations.

HealthQuest focuses on companies that are optimizing value to the healthcare system and improving the efficiency of healthcare delivery. Investments will concentrate in areas of medical products, diagnostics, healthcare IT, and technology-enabled healthcare services. HealthQuest partners with commercial stage companies, providing capital towards growing revenues and scaling businesses.   

"HealthQuest is focused on funding innovation that provides value to the stakeholders of healthcare—the patient, physician, and payer. We believe these opportunities can deliver valuable medical advances with rapid adoption and also result in outsized financial returns," commented HealthQuest Founder and Managing Partner, Garheng Kong, M.D., Ph.D. "We appreciate the support of our investors for the HealthQuest strategy and team—and we are fortunate to have such a high quality group of limited partners." HealthQuest's approach will also involve targeting sectors of healthcare where there are clear unmet clinical needs, and also being active in geographies that are underserved by other venture capital and emerging growth investors.

The HealthQuest investing team includes: Garheng Kong, M.D. Ph.D., Randy Scott, David Kabakoff, Ph.D., Richard Lin, M.D., Tom Callaway, M.D., and Marie Casey, Ph.D. Combined, the full team has decades of investing and operating experience in the types of businesses with which HealthQuest will partner. 

HealthQuest's current portfolio includes: BioTheranostics (cancer molecular diagnostics), Castle Biosciences (rare cancer diagnostics), First Aid Shot Therapy (consumer medicine), InMediata (automated payment solutions), Lineagen (developmental delay diagnostics), Spirox Medical (minimally invasive device for nasal obstruction), Trice (optical needle for in-office diagnostic arthroscopy), Vestagen (advanced textiles for healthcare), and VirMedica (improving patient access to specialty products).  

About HealthQuest Capital:
HealthQuest Capital makes early growth investments in innovative commercial-stage healthcare companies that are improving both patient outcomes and healthcare economics. Investments focus on medical products, diagnostics, healthcare IT and technology-enabled healthcare services. The HealthQuest investing team includes deep operational, clinical and scientific expertise and worldwide relationships throughout the healthcare industry that can be leveraged to add value to our portfolio companies. HealthQuest Capital is headquartered in Menlo Park, CA with west coast and east coast offices. Learn more at www.healthquestcapital.com.

Contact Information:
Garheng Kong
Managing Partner, HealthQuest Capital
(650) 681-8424; [email protected]

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SOURCE HealthQuest Capital

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http://www.healthquestcapital.com