Rash hospital startup draws Warburg Pincus investment

Jul 15, 2009 at 04:09 pm by miltcapps


Update 22 March 2016 9:25a: RegionalCare and Capella Healthcare announced merger plans. Rash to chair, PE Apollo is driver. - Ed.

Acquisition and operation of community hospitals with backing from Warburg Pincus is the new mission of three Nashville executives.

According to a statement provided VNC by Warburg Pincus today, the giant private-equity player will invest up to $300 million in the new venture.

RegionalCare's Hospital Partners' top management are all Province Healthcare Corp. alumni: Chairman and CEO Marty Rash; President and COO John Rutledge; and, Operations Vice President Sam Moody. They cashed-out in 2005, when LifePoint Hospitals bought Province.

During the past four years, Rash has been an investor in other local companies, including nTelagent., a revenue-cycle management firm.

During the same period, Warburg has been an investor in Spheris, the locally based medical-transcription company.

Forty-three-year-old Warburg Pincus has about $25 billion in assets under management, and since its founding has raised 12 private equity funds that invested more than $29 billion in about 600 companies in 30 countries.

Tags: Apollo Global Management Clayton McWhorter Dan McVickers Greater New York Hospital Association Health IT healthcare hospitals informatics Innovation John Rutledge John Strong Marty Rash Michael Resnick Michael Wiechart Nashville Medical Trade Center nTelagent Province Healthcare Corp. RegionalCare Hospital Partners Sam Moody Spheris Tennessee Hospital Association Warburg Pincus World Product Centre World Product Centre Marketing
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