Attribute-focused

We have a clear view on attractive attributes across businesses, sectors, and deals. We have found these attributes in a handful specific areas.

Businesses with high recurring revenue, low concentration risks, limited capital expenditure requirements, efficient cash conversion, and abundant bolt-on acquisition opportunities are highest on our priority list. The most appealing sectors are on-trend: value-base payment oriented, cost containing, site-appropriate, and contain limited reimbursement risk. We find deals particularly attractive when they are owner-operated, proprietarily sourced, and the owner rolls a material amount of equity into the next phase.

Example sectors in which we have found the aforementioned attributes include: behavioral health, revenue cycle management, population health, care management, post-acute care services, payment services, specialty networks, and pharmacy services. We don’t invest in biotech or med-tech businesses.