Avista Capital Partners (Avista), a private equity firm focused exclusively on healthcare, has appointed Steve Schiess and William E Klitgaard to the firm’s operating executive team. As Operating Executives, Schiess and Klitgaard, who bring decades of experience in the healthcare industry, will play active roles in sourcing investment opportunities and building, growing and transforming Avista’s healthcare investments. Building off his successful career in the dental industry, Schiess will focus on investment opportunities and businesses in the Medical Devices & Technologies sub-sector. On the heels of Avista’s recent investment in the Healthcare Information Technology (“HCIT”) space, XIFIN, Klitgaard will focus on HCIT and Outsourced Pharma Services sub-sectors.
“Steve and Bill have exceptional track records enabling the growth of highly successful businesses, and we have enjoyed working with them in their capacity as CEOs and directors over the last several years. It is a pleasure to welcome them on board full-time,” says Avista Partner Sriram Venkataraman. “The appointment of these seasoned industry leaders will further Avista’s efforts to build upon the success of our existing portfolio and pinpoint compelling investment opportunities going forward.”
Schiess says: “I am thrilled to continue working with the Avista team in this new capacity, and I look forward to executing on best-in-class operating strategies to advance Avista’s investments and working alongside my colleagues to identify and cultivate opportunities for the firm and its investors.”
“Avista is focused on engagement and strategic alignment with its portfolio company management teams,” adds Klitgaard. “I look forward to continuing this tradition and to creating further opportunities for Avista to partner with strong management teams and companies that feature stable cash flows and robust growth potential.”
