(PRWEB) March 07, 2016
The Board of Directors of the Healthcare Private Equity Association (HCPEA) has elected Craig Frances M.D. as its next President. Dr. Frances will assume office on July 1, 2016, replacing current President Michael Dal Bello, Investment Partner at Pritzker Group Private Capital.
Dr. Frances is a Managing Director with global growth equity investor Summit Partners. He joined the firm in 2003 and has since led numerous investments in the healthcare and life sciences sector, working with management teams and physician-entrepreneurs to expand the reach and value of their businesses. Dr. Frances is currently a board director of Healthline Media, Independent Vetcare, Integrated DNA Technologies and Solutionreach.
Prior to Summit, Craig was founder and manager of three successful companies, and he previously served as Chief Medical Resident at the University of California, San Francisco. He holds a BA in psychology, with Honors, from Cornell University and an MD from Cornell University Medical College, where he was Valedictorian and received the Paul Sherlock Prize, a peer-voted award for exceptional integrity and compassion in patient care. Dr. Frances is the creator of the Saint-Frances Series, medical books that are used extensively in academic centers across the United States. Craig was named one of the 40 Smartest People in Healthcare for 2014 by Becker’s Hospital Review.
“Since its founding in 2010, HCPEA has grown and evolved to be the leading organization for private equity investors in healthcare. We have continued to increase value for our members by adding new events and providing proprietary content for their exclusive use,” said Dal Bello. “Craig is a talented and well-respected leader in our field and I know he will help it continue to progress to the next level."
Dal Bello added, “As both a physician and an investor, Craig brings a unique perspective to the Association. He has a deep understanding of the healthcare sector and a keen appreciation for the important work that HCPEA does to promote healthcare private equity investing.”
“After many years of involvement with HCPEA, I’m excited to assume this leadership role,” said Dr. Frances. “I believe that the healthcare private equity industry plays a vital role in helping companies fulfill their missions of improving the healthcare value equation – by improving quality, decreasing costs, or both. It is rare for healthcare companies to become leaders in their market segments without the assistance of a financial sponsor. As an association of leading healthcare investment firms, HCPEA helps to demonstrate our industry’s value-add and seeks to make our members more successful in their endeavors.”
The Healthcare Private Equity Association (HCPEA) is a nonprofit trade association 501 (c) (6) whose mission is to support the reputation, knowledge and relationships of the healthcare private equity community. Its member firms are committed to building successful enduring healthcare businesses that “do well” while “doing good.”
HCPEA’s 50+ members are among the best known, most respected private equity firms, and they employ over 300 investment professionals throughout the United States and Canada. With $400+ billion under management, HCPEA members represent one of the largest portfolios of privately held healthcare-related businesses encompassing services, products, diagnostics, distribution, pharmaceuticals and IT, among other segments.