Industry Veterans Form Transformation Capital to Focus on High-Growth Digital Health Companies
Former Managing Partners of Leerink Transformation Partners form new management company to manage existing $313 million fund and future funds.
Nov 18, 2019, 12:04 ET
BOSTON, Nov. 18, 2019 /PRNewswire/ -- The Managing Partners of LTP (Leerink Transformation Partners LLC) Todd Cozzens and Jared Kesselheim, MD announced today the creation of Transformation Capital Partners, L.P. to focus on investing in high-growth digital health companies.
"With the rapid proliferation of healthcare data, the continued move toward value-based care, and the rise of consumerism, the market for growth-stage digital health companies has become even more attractive since we launched our initial fund," said Cozzens. "This is one of the fastest growing sectors in all of technology. I am thrilled to continue to invest in and help build companies in this space as part of Transformation Capital."
"Our vision at the outset was that our combination of 100% sector focus, company-founding, operational, clinical, and investing experience would help make us the go-to partner for innovative growth companies in the rapidly expanding digital health market," said Kesselheim. "It has been very exciting to see this vision come to life and I am energized for this next stage of building our firm."
Transformation Capital's Founding Partners are veteran healthcare company founder and investor Todd Cozzens, and physician and investor Jared Kesselheim, MD. Mr. Cozzens previously built two digital health companies – Marquette Medical (IPO and sale to GE) and Picis (sale to UnitedHealth Group) – prior to joining Sequoia to co-lead digital health investing. Dr. Kesselheim joined Bain Capital Ventures and became a partner and digital health vertical lead after receiving his MBA and MD from Harvard University and practicing internal medicine at Massachusetts General Hospital.
In 2016, Mr. Cozzens and Dr. Kesselheim co-founded LTP, Transformation Capital's predecessor management company. LTP's first fund, which was launched in 2016, has $313 million in capital commitments and has made investments in 12 digital health companies that serve customers across the healthcare ecosystem including: Health Catalyst (Nasdaq: HCAT) serving health systems, PatientPop serving physician practices, PatientPing serving providers and payers, LetsGetChecked, serving consumers, Vera Whole Health serving employers and payers, and Boston Health Economics serving biopharmaceutical companies.
LTP was founded together with SVB Leerink Capital LLC (formerly Leerink Capital Partners LLC), an affiliate of SVB Leerink LLC, a leading healthcare investment bank, and its founder and CEO, Jeff Leerink. In January of 2019, SVB Financial Group (SVB), the holding company of Silicon Valley Bank, a U.S.-based commercial bank serving technology and life science companies and their investors, acquired the Leerink businesses, including Leerink Capital Partners LLC. Mr. Cozzens, Dr. Kesselheim, and SVB have agreed to principal terms of an ongoing relationship in which Transformation Capital (as an independent management company not affiliated with SVB or Leerink Capital) will continue to manage Fund I and its investment portfolio.
About Transformation Capital
Transformation Capital invests in high-growth digital healthcare companies. The firm was formed in September 2019 by the principals of LTP, a growth equity firm specializing in digital health investments that launched its first fund in 2016 and has made investments in 12 digital health companies. Transformation Capital applies the decades of operational, clinical and investing experience and extensive industry contacts of its managing partners and team members to help founders and CEOs build valuable businesses.
For more information, visit us at www.transformcap.com or contact Christine O'Brien (617-918-4014).
SOURCE Transformation Capital
