News

Martis Capital is pleased to announce three promotions within the firm’s investment team. Aseem Nambiar has been promoted from Vice President to Director, David Zhang from Senior Associate to Vice President, and Charlie Fiessinger from Associate to Senior Associate.

Based in San Francisco, CA, Aseem works closely with DCN Dx, Lighthouse Lab Services, and WellHaven PetHealth. Prior to Martis, he held an operating role at DaVita, following his time at Waud Capital and UBS. Aseem received a Bachelor of Science in Quantitative Economics from Tufts University and an MBA from the University of Pennsylvania.

Based in San Francisco, CA, David works closely with Lighthouse Lab Services. He started his career at Barclays, then focused on middle-market buyout investing at Welsh, Carson, Anderson & Stowe and Calera Capital. David received a Bachelor in Business Administration from the Stephen M. Ross School of Business at the University of Michigan.

Based in Washington, DC, Charlie worked previously at BV Investment Partners where he focused on tech-enabled business services investments. He began his career at Alvarez & Marsal before joining William Blair. Charlie received a Bachelor of Science in Applied & Computational Mathematics and Statistics from the University of Notre Dame.

“As we enter our second decade as a firm, Martis is experiencing a remarkable period of growth. Aseem, David, and Charlie are great examples of that growth, and we’re thrilled to recognize their professional accomplishments and contributions to the firm.” said Barry Uphoff, Martis’ Founding & Managing Partner.

About Martis Capital

Martis Capital is a private equity firm focused exclusively on the healthcare industry. With offices in San Francisco, CA, and Washington, DC, Martis seeks to invest in middle-market, growth-oriented companies that provide innovative and cost-effective products and services within targeted segments of the North American healthcare industry.

For more information, please visit www.martiscapital.com or follow us on LinkedIn.

Martis Capital announced today that it has acquired a majority interest in Lighthouse Lab Services, alongside current investors NaviMed Capital and the Company’s management team. Headquartered in Charlotte, North Carolina, Lighthouse is an end-to-end provider of turnkey lab build-out and management services to clinical labs across the United States. The Company provides a comprehensive suite of solutions across outsourced lab management, consulting, recruiting, supply chain management, compliance, equipment sales and more. Lighthouse serves over 1,000 laboratory clients including physician office labs, reference labs, and hospital labs.

Mark Roth, CEO of Lighthouse Lab Services, commented, “This is a tremendous milestone for the entire Lighthouse team. We are thrilled to have the opportunity to work with Martis Capital to advance our mission and help laboratories across the country start, run, and grow quality testing operations.”

“The Martis Capital team is very proud to join Lighthouse Lab Services in their journey and support the mission to continuously improve patient access by bringing high quality diagnostic testing closer to the point of care.” Mario Moreno, a Partner at Martis, also commented, “We at Martis Capital are thrilled to partner with such a strong team and support Lighthouse’s service quality and innovation in the diagnostic laboratory end-market by providing high value to patients, providers, and payors alike.”

Financial terms have not been disclosed.

About Lighthouse Lab Services
Lighthouse Lab Services provides an end-to-end suite of services enabling customers to start, run, and grow their clinical labs. Service offerings include assistance with licensure and compliance with accreditation requirements, scientific method development and validation for a variety of applications ranging from toxicology to infectious disease, recruitment of Lab Directors and other lab staff, as well as ongoing operational support. The Company boasts a deep bench of Ph.D. and masters-level analytical chemists, pharmacologists, toxicologists, and laboratory scientists, as well as experienced teams specializing in recruiting and staffing for labs. Lighthouse is headquartered in Charlotte, North Carolina. Learn more at www.lighthouselabservices.com.

About Martis Capital
Martis Capital is a private equity firm focused exclusively on the healthcare industry. The Martis team manages more than $1.3 billion of equity capital and is currently investing out of its third fund. With offices in San Francisco, CA, and Washington, DC, Martis seeks to invest in middle-market, growth-oriented companies that provide innovative and cost-effective products and services within targeted segments of the North American healthcare industry.  For more information, please visit www.martiscapital.com or follow us on LinkedIn https://www.linkedin.com/company/martis-capital.

Charlie Fiessinger joined Martis Capital as an Associate in the Washington D.C. office. Previously, Charlie was at BV Investment Partners and focused on tech-enabled business services investments. Prior to BV, Charlie worked in investment banking at William Blair & Company. He began his career in management consulting at Alvarez & Marsal.

Charlie received a Bachelor of Science in Applied & Computational Mathematics and Statistics from the University of Notre Dame.

On July 15, 2021, HeartFlow and Longview Acquisition Corp. II, a special purpose acquisition company sponsored by Glenview Capital Management, LLC, have entered into a definitive business combination agreement that will support HeartFlow’s vision of revolutionizing precision heartcare.

Learn more: https://bit.ly/3rbbkvm 

Martis Capital has been named a Top 50 PE Firm in the Middle Market for 2021.

Martis is honored to be included among this group of leading PE firms.  This nomination highlights our investment strategy of being a sector specialist and a flexible investment partner to middle-market healthcare companies.  Our team shares a passion for helping build companies that seek to improve quality of care and to address the complex challenges facing the healthcare industry today.

Martis did not pay a fee as part of the selection process.  To read more about the Top 50 PE program and view a detailed list of winning firms, please visit https://toppefirms.com/top-50-pe-firms

Alec Zwaneveld joined Martis Capital as a Business Development Associate in the San Francisco, CA office. Previously, Alec worked at K1 Investment Management, where he sourced and evaluated growth and buyout investment opportunities in enterprise software, with a focus on healthcare IT.

Rachel Hailstone joined Martis Capital as a Business Development Analyst. Previously, Rachel worked at Deloitte as an Executive Coordinator, where she supported partners within the firm while specializing in teaming and schedule coordination.

Alec and Rachel will help grow Martis’ direct sourcing program, focusing on market-leading healthcare businesses.

On December 30, 2020, Martis Capital completed a sale of its position in Epic Systems, a leading EHR Company that develops healthcare management and infrastructure software for healthcare facilities across the U.S. and internationally. Since its inception in 1979, Epic has been renowned as a market pioneer within the EHR landscape. Today, the Company’s 450+ customers touch more than 70% of the U.S. population and more than 3% of the world. Epic was a portfolio company of Martis Capital since 2014.

Washington, DC, and San Francisco, CA

Martis Capital (“Martis”), a healthcare-focused middle market private equity firm, announced yesterday that it completed the sale of Altruista Health, Inc. (“Altruista” or the “Company”), a leading payor care management software platform. Altruista was acquired by HealthEdge Software, Inc. (“HealthEdge”), a portfolio company of the Blackstone Group (“Blackstone”), and the terms of the deal were not disclosed.

Headquartered in Reston, VA, Altruista Health delivers care management and population health management solutions that support value-based and person-centered care models. The Company serves approximately 30 customers and manages more than 16 million member lives.

Since Martis’ original investment in Altruista in December 2015, the Company has continued to grow into a leading provider of care management and population health management solutions through GuidingCare^®, the largest and most widely adopted platform of its kind in the United States. Health plans and healthcare providers use GuidingCare^® to transform their processes, reduce avoidable expenses and improve patient health outcomes. Altruista was named twice as one of the “Top Population Health Management Companies to Know” by Becker’s Healthcare.

Ashish Kachru, Chairman and Chief Executive Officer of Altruista, said “Martis Capital was instrumental in helping us grow and further professionalize our company during our five-year partnership. Together we have successfully diversified our service offering, expanded our client relationships, and meaningfully invested in our corporate infrastructure both in the United States and India.” Mr. Kachru added, “Martis Capital has been an invaluable partner for us during a critical stage of our company’s history and we are now well positioned to capitalize on continued future growth”.

McDermott Will & Emery acted as legal adviser to Martis and Altruista in connection with the transaction.

About Altruista

Founded in 2007, Altruista Health is a leading payor care management platform offering customers a highly configurable set of comprehensive modules delivered as a SaaS solution spanning care management, utilization management, population health, appeals and grievances, medication therapy management, member engagement, and reporting and compliance.

About Martis

Martis Capital is a middle market private equity firm focused exclusively on the healthcare industry. The Martis team manages more than $1.2 billion of equity capital and is currently investing out of its third fund. With offices in San Francisco, CA, and Washington, DC, Martis seeks to invest in middle-market, growth-oriented companies that provide innovative and cost-effective products and services within targeted segments of the North American healthcare industry. For more information visit martiscapital.com.

On December 9, 2020, Care Hospice (“Care”) completed a recapitalization. Care is a leading national provider of hospice services, serving over 3,600 patients across 11 states. The Company has successfully developed a high-quality, integrated approach to care which utilizes local agency brands while leveraging the efficiency and compliance capabilities of a much larger organization. Martis Capital recapitalized Care in 2017, partnering with its founder and management team.