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Richard Tuten on Board as HealthCap LLC Raises $1.5M - cbl
Posted July 15, 2011
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By Julie Armstrong
VERO BEACH, Fla.-- As if the word "Urgent" wouldn't catch my eye -- or "Kids," the mom of young twins that I am -- the fact that Urgent Care for Kids raised $1.45 million meant business.
The Dallas-based, early-stage private company runs after-hours, urgent-care health centers for children in strategic locations of Texas and potentially will expand to other underserved markets across the United States.
Urgent Care for Kids is a portfolio company of HealthCap LLC, a Dallas-based private equity boutique that invests exclusively in operating companies in the service sectors of health care. HealthCap targets profitable small and lower-middle-market businesses with EBITDA up to $5 million. An investment valuation ranges from about $1 million to $40 million, typically structured as recapitalizations, buyouts or infusions of growth capital.
HealthCap is led by Kip Weatherwax, managing partner; Jason Dodd, partner; and Billy Coleman, vice president. Principals named in Urgent Care for Kids' SEC filing include Vice President Brian White; , of Tuten Healthcare Consulting, a Vero Beach, Fla.-based group that navigates private medical practices and insurance entities through health-care reform legislation; and Gerardo Reyes, a pediatrician out of Burr Ridge, Ill.
Weatherwax, a founding member of HealthCap, has more than 15 years of health-care management and acquisition experience. He has led the acquisitions of more than 30 health-care companies representing over $400 million in revenue. Weatherwax previously worked at InteliStaf Healthcare and HealthCor Holdings, beginning his career as an investment banking analyst with Rauscher Pierce Refsnes.
In addition to Urgent Care for Kids, HealthCap invests in MEDermis Laser Clinics -- tattoo removal specialists in Dallas, Austin, Houston and San Antonio -- and in Alta Home Care, with offices in California.
HealthCap seeks rapidly growing businesses that possess leading market share, the ability to accelerate cash flow, and the prospect for complementary acquisitions. Is your company a candidate?
Reg D filing: http://tinyurl.com/6yfbltm
Bios from HealthCap's website:
Jason K. Dodd, Partner
Mr. Dodd, a founding member of HealthCap, LLC has over 15 years of transaction experience with healthcare service providers. Concurrently with founding HealthCap, he currently serves as the President of The Cirrus Group, LLC and is responsible for new business development, acquisitions and divestitures, and financing structures for healthcare and senior housing investments.
Mr. Dodd has been responsible for the financing and capital structure of all real estate partnerships and corporate debt. He has structured over $750 million of real estate projects with combinations of debt, mezzanine financing and equity, with participants such as Bank of America, Amegy Bank, Wells Fargo, and Citigroup. Additionally, Mr. Dodd has structured property level and platform joint venture transactions with HealthCare Property Investors (NYSE:HCP) and Ventas (NYSE:VTR).
Mr. Dodd has successfully created and maintained several important physician and hospital relationships at Baylor UniversityMedical Center in Dallas, as well as, HCA, Vanguard, and CareMeridian, structuring healthcare transactions in multiple states.
Prior to joining Cirrus, Mr. Dodd had a diversified real estate and finance background including his tenure as vice president for Jones Lang LaSalle in Dallas, Texas and Charlotte, North Carolina. He has also been with US Bancorp as a real estate banker and has a broad range of finance and banking experience. Currently, Mr. Dodd serves on the board for Medermis Laser Clinic, www.medermislaserclinic.com
In 2009, Mr. Dodd was recognized by the Dallas Business Journal as a 40 Under 40 Business Leader in Dallas/Ft. Worth.
Mr. Dodd holds a BBA from Texas A&M University and an MBA from the University of South Carolina, Moore School of Business.
Billy Coleman, Vice President
Mr. Coleman brings 10 years of experience in finance, healthcare real estate/development/acquisitions, and business management services. He began his career in office brokerage for a national firm and quickly worked his way to managing a handful of national healthcare accounts. Billy continued to work in the healthcare sector by partnering with a Dallas based investment firm on new opportunities: hospice companies, urgent care clinics and skilled nursing facilities. Currently, Mr. Coleman is actively engaged with the management and expansion of MEDermis, a portfolio company of HealthCap.
Billy holds a B.B.A. from Southern Methodist University and also an M.B.A. from Southern Methodist University with a concentration in Finance. Originally from New Orleans, he came to Dallas on a swimming scholarship at SMU and received the honors of "All American." Billy is active in several organizations such as Juvenile Diabetes Research Foundation, The United Way, and Make it Right Foundation.
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