Nashville's largest private equity investment firm deepens its commitment to Nashville's large and growing healthcare ecosystem
CHICAGO and NASHVILLE, Tenn., Jan. 22, 2020 /PRNewswire/ -- Cressey & Company LP ("Cressey" or "the Firm"), a healthcare-focused private equity investment firm, has expanded its presence in Nashville by opening a new office on Bedford Avenue in Green Hills. The Firm's local office previously had been located on West End Avenue since 2008.
Cressey considers Nashville the hub of innovation and entrepreneurialism in U.S. healthcare services and is pleased to deepen its commitment to the large and growing healthcare ecosystem in and around the city. The Cressey team started working from the new Nashville office on January 6, 2020. The Firm was recently ranked by the Nashville Business Journal as Nashville's largest private equity investment firm with total capital under management of approximately $2.1 billion as of November 1, 2019.1
"For the past 11 years, our Nashville-based partners have played an integral and active role in our investment program, connecting us to the vibrant and innovative healthcare community in Nashville and the surrounding metro area," said Cressey Partner and former U.S. Senate Majority Leader, Senator Bill Frist. "We have enjoyed investing in and being an engaged member of the local community, and we look forward to expanding our presence and activity from our new office in Green Hills for many more years to come."
Cressey's presence in Nashville has led to four investments totaling more than $238 million in local-area healthcare services companies. The Firm currently is an investor in QualDerm Partners, a Brentwood, Tenn.-based Dermatology Services Organization that provides quality management services and growth resources to dermatology practices and skin care professionals. Prior Cressey investments in the Nashville community include Essent Healthcare, which owned and operated non-urban acute care hospitals and merged with RegionalCare Hospital Partners in 2011; Haven Behavioral Healthcare, a leading provider of specialty behavioral healthcare services; and Hospice Compassus (formerly CLP Healthcare Services), a leading provider of high-quality hospice and palliative care services. The Firm has also actively participated in the Nashville Health Care Council.
Senator Frist, who leads Cressey's Nashville office, continued, "Nashville's healthcare ecosystem is globally recognized as the epicenter of innovation and quality. One company, HCA, with more than approximately 49,000 beds and more than 45,000 doctors, is the largest health system of doctors and hospitals in the United States. Another Nashville company, Change Healthcare, connects to almost every provider and payer in the U.S. healthcare system, processing over $1 trillion dollars in U.S. healthcare financial transactions."
Cressey Founder and Partner, Bryan Cressey, added, "Nashville has become the 'Silicon Valley of Health Services.' We believe it has greater reach and touches more patients through health service delivery than any other city in the United States. We are grateful to have deep and longstanding connections to Nashville and are proud to have become a part of the fabric of this terrific community."
About Cressey & Company LP
Based in Chicago, Ill. and Nashville, Tenn., Cressey & Company LP ("Cressey") is a private equity investment firm focused on building leading healthcare provider, service, and information technology businesses. Including previous funds dating back to the late 1970s, Cressey principals have invested in healthcare businesses for more than four decades. They currently manage an active portfolio of healthcare investments in a wide range of segments. Through five predecessor funds and the current fund, Cressey & Company Fund VI LP, the Cressey team has managed in excess of $2.1 billion in committed capital focused on building leading healthcare companies in partnership with outstanding executives and management teams. More information about Cressey, including the contact details for its office and professionals in Nashville, can be found on the Firm's website.
1Carol Smith, 'Largest Venture Capital and Private Equity Firms in Tennessee', Nashville Business Journal, American City Business Journals, 2020, https://www.bizjournals.com/nashville/subscriber-only/2020/01/10/largest-venture-capital-and-private.html, (accessed 10 January 2020).
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SOURCE Cressey & Company