GTCR, a US-based private equity firm, has entered into a partnership with Dale Wolf to form Jessamine Healthcare.
The new company, headquartered in Maryland, will focus on acquiring companies in the healthcare payer and outsourced payer services industries.
Wolf (pictured), who will serve as Jessamine’s chief executive officer, is a 34-year industry veteran who most recently served for 12 years as a senior executive of Coventry Health Care, a national managed healthcare company.
Prior to serving as chief executive, Wolf served as Coventry’s chief financial officer, where in addition to managing the company’s finance functions, he was responsible for underwriting and acquisition growth.
Wolf will be joined at Jessamine by Fran Soistman, executive vice president. Soistman is a 29-year industry veteran and former executive of Coventry, where he managed the company’s largest commercial health plan before building and running Coventry’s USD5bn Medicare business.
“The changing US healthcare system should increasingly value businesses that can enhance access to care and improve patient outcomes in cost-effective ways,” says Wolf. “Healthcare payer and outsourced payer services companies should play an integral role in this evolving system, and GTCR has a history of building successful platforms in these sectors through organic growth and acquisitions. We believe that this is an attractive time to build a presence in our targeted markets.”
“We are excited to partner with Dale,” says GTCR principal David Katz. “He has a long track record of identifying strategic growth areas and successfully building businesses in those sectors. We believe that Dale’s experience is a critical element of success in an operating environment where political and regulatory changes have created both challenges and opportunities. This is another great example of GTCR’s strategy of partnering with proven leaders to build companies in attractive industries.”
GTCR is currently investing its ninth fund, a private equity fund with USD2.75bn of committed capital.
