New Health Capital Partners, LLC ("New Health" or "NHCP") announced today that it has closed on New Health Capital Partners Fund I LP, a private equity vehicle focused on investing throughout the capital structure of life sciences companies, including senior secured loans, royalty monetizations, control equity investments and other structured financings. The New York-based firm received an initial capital commitment of $150,000,000 from ORIX USA Asset Management ("OAM"), a global asset management firm.
NHCP seeks to create highly customized investment structures which provide significantly more flexibility to companies than capital traditionally available via the public markets, private equity or pure royalty monetization firms. New Health is uniquely able to provide capital to a broad spectrum of commercial-stage specialty pharmaceutical, medical devices, diagnostics and technology tools companies.
The founders of NHCP, Richard Baxter and Aron Dantzig, have worked together for the past seven years, deploying in excess of $1 billion. NHCP´s principals have completed one transaction since the firm´s launch and are reviewing a number of additional investment opportunities as the firm rapidly broadens its transaction pipeline.
"We are excited to announce our launch with the substantial capital commitment from ORIX USA Asset Management," said Richard Baxter, "and look forward to continuing to deploy innovative forms of capital into the healthcare industry."
Michael Blum, President and CEO of ORIX USA Asset Management, commented, "We are very excited about our relationship with NHCP. Partnering with Aron and Rich and their team gives ORIX USA Asset Management a unique opportunity to invest in the healthcare and life sciences sectors and further highlights our commitment to the global asset management industry."
"Access to cost-efficient capital continues be a challenge for many life science-focused companies," added Aron Dantzig, "and we are seeing consistently increasing demand for our type of non-traditional capital."
About New Health Capital Partners: New Health Capital Partners is headquartered in New York, NY and is focused on providing flexible, alternative source of capital to life sciences companies. The firm invests across the entire spectrum of healthcare companies and throughout the capital structure on a worldwide basis, including senior secured loans, monetization of royalty cash flow streams and the acquisition of "legacy" pharmaceutical products. NHCP is able to provide capital to commercial-stage, specialty pharmaceutical, medical devices, diagnostics and technology tools companies.
About ORIX USA Asset Management: ORIX USA Asset Management (OAM), a wholly owned subsidiary of ORIX USA Corporation, manages ORIX USA´s strategic investments in the asset management industry. In December 2010, OAM purchased a majority interest in Mariner Investment Group LLC, a $12 billion alternative asset management firm with offices in New York, Boston, London, Seoul and Tokyo. ORIX USA Corporation (www.orix.com) is a diversified financial services company with more than 1,400 employees and is based in Dallas, Texas. ORIX USA has investments across the corporate, commercial real estate and municipal sectors, as well as operating subsidiaries in investment banking through Houlihan Lokey and multifamily/healthcare lending through RED Capital Group. ORIX USA is the U.S. subsidiary of ORIX Corporation, a publicly owned, international financial services company established in 1964 with headquarters in Tokyo and operations in 27 countries. ORIX Corporation is listed on the Tokyo (8591) and New York (NYSE: IX) stock exchanges.
