Healthcare-focused private equity firm Concord Health Partners hired two managing directors and opened an office in Nashville, Tenn.
Eric Larsen and Derek Schmidt opened the new office where there is a burgeoning healthcare community.
Larsen was HCA Healthcare, where he was most recently vice president of special assets group overseeing, which included the leadership of the for-profit operator of healthcare facilities’ corporate venture group (Health Insight Capital) from 2017 to 2022. Before joining HCA Healthcare in 2011, Larsen was a director of development at Renal Advantage, which is a private equity-backed outpatient dialysis provider. He also has worked within investment banking. At Concord he will report to James Olsen, founder and managing partner of Concord.
“Concord’s strategy, expertise and unique LP base have quickly proven to be differentiators in the healthcare investing space,” said Larsen in a statement. “I am excited about the opportunity to strategically build the team and expand my network in Nashville to help Concord continue to identify and grow innovative businesses and solutions that improve quality of care, reduce cost, and enhance access to care.”
Schmidt had been the director of private equity for Marquette Associates, where he directed private equity and venture capital program construction, including manager selection, co-investment and secondary deployment. His role at Concord will be to lead the firm’s capital formation efforts and focus on Concord’s investor relations, single asset funds and the buildout of potential new strategies. He too reports to Olsen, who co-founded Concord in 2017.
After having known the Concord team for years, Schmidt said he looked forward to working with the firm’s advisors and strategic LPs to “proactively identify new opportunities and avenues to drive value across the care continuum.”
Concord, which has approximately $200 million in assets, invests in healthcare companies that have the potential to enhance the value of care through products, services, technologies and solutions that lower costs, improve quality and expand access to care.
“Adding Erik and Derek’s experience further institutionalizes our team, and I look forward to working closely with them both to continue strengthening our investment process and working with our strategic LPs to accelerate growth at our portfolio companies,” said Olsen in a statement.
The new hires follow the announcement earlier this month, that the President and CEO of Atlantic Health System Brian Gragnolati was joining as executive partner where he will source new investment opportunities, support management teams and accelerate the growth of Concord portfolio companies through commercial introductions across the Concord network of strategic relationships.