News

Martis Capital, a middle-market private equity firm focused exclusively on the healthcare industry, today announced that Chris Beall was promoted to Principal from Director.

Based in Washington DC, Chris currently serves on the Board of Directors of Altruista Health, Care Hospice, and Healthy Living Network.  Prior to joining Martis in 2014, Chris was an Associate at Quad-C Management and previously worked in investment banking in the Retail & Consumer Group at Citi.  He received a BS in Commerce from the McIntire School of Commerce at the University of Virginia.

With offices in San Francisco, CA, and Washington, DC, Martis Capital manages more than $1.2 billion of equity capital and is currently investing out of its third fund.  For more information, please visit the fund’s website at https://www.martiscapital.com/.

Credible Behavioral Health (“Credible”), a portfolio company of Martis Capital, is extending immediate assistance to behavioral health agencies challenged by the COVID-19 crisis.  In partnership with Change Healthcare, one of the nation’s leading revenue cycle management providers with more than 2,000 payer relationships, Credible is offering a 90-day free trial of certain aspects of its market-leading EHR software solution, which can be implemented in as little as three days.  This will allow behavioral health providers of any scale facing current challenges with remote staff, paper-based or telehealth documentation, or billing complexities to move onto the Credible platform to access a secure, proven, and easy to use solution for simplified documentation, efficient billing, and full client / family portal access.  Credible and Change Healthcare mutually recognize the overwhelming unmet need for behavioral health providers to have a system they can easily document, bill, and get paid for services rendered, and both organizations are committed to helping improve these aspects which have been impacted by the current COVID-19 crisis.

On December 9, 2019, Centria Healthcare (“Centria”) completed a recapitalization with Thomas H. Lee Partners. Centria is one of the nation’s largest providers of Applied Behavior Analysis therapy for children with autism.  The company is also a leading provider of specialized home-based healthcare services including catastrophic injury and rehabilitation care, private duty nursing, and supportive living services. Prior to the sale to Thomas H. Lee Partners, Centria was a portfolio company of Martis Capital since 2016.

Martis Capital announced that it has closed a minority recapitalization with Credible Behavioral Health, Inc. (“Credible”), a leading provider of electronic health record and practice management Software-as-a-Service solutions to the U.S. behavioral healthcare market. Through its investment, Martis will partner with the company’s co-founder, Matt Dorman, who will continue to lead the company as its CEO. Financial terms of the transaction were not disclosed.

Based in Rockville, MD, Credible offers a single, integrated platform and a differentiated feature set, including fully integrated clinical, scheduling, primary care, ePrescribing, inpatient, mobile, and billing modules. The company has 460 Partner Agencies in 36 states.

Martis Capital Management, LLC (“Martis Capital”), the healthcare-focused private equity firm, has closed its third fund, Martis Partners III, LP (“Fund III”) with $545 million in aggregate capital commitments. The fund closed at its fundraising hard cap, with commitments from a diverse group of public and private institutional investors.

Fund III will continue Martis Capital’s strategy of investing in buyout and growth equity opportunities in middle-market companies providing innovative and cost-effective products and services within the services & outsourcing, information technology, and consumer & wellness subsectors of the North American healthcare industry.

In conjunction with the final close of Fund III, Martis Capital is also pleased to announce that Mario Moreno and Owen Davis have been promoted to Partners in the firm, and Vladimir Andonov has been promoted to Director of Business Development.  Both Mario and Owen will be part of the firm’s investment committee.

Metric Point Capital was the exclusive global placement agent, and McDermott Will & Emery LLP served as legal counsel.

Martis Capital is based in Palo Alto, CA and Washington, DC and has raised more than $1.25 billion of capital since 2011. For more information, please email us at info@martiscapital.com.

Rob Greer joined Martis Capital as an Associate in the Palo Alto, CA office. Previously, Rob worked in Investment Banking in the Healthcare group at Bank of America Merrill Lynch.  Rob received a BS in Finance from the Smeal College of Business at Penn State University.

On December 21, 2018, HHA eXchange (“HHA”) completed a recapitalization with Cressey & Company. HHA is a leading provider of healthcare software solutions to the private duty home care industry, serving both home care agencies and their payer community. Prior to the sale to Cressey & Company, HHA was a portfolio company of Martis Capital and McCarthy Capital since their investment in 2014.

Martis Capital has been selected as one of 15 private sector leaders to take part in a yearlong collaboration with the Department of Health and Human Services as part of the newly created “Innovation and Investment Summit” of Deputy Secretary, Eric Hargan.

The group will meet quarterly to discuss the innovation and investment landscape within the healthcare sector, emerging opportunities, and the government’s role in facilitating more investment and accelerated innovation.  The initial meeting will be held in Washington, DC on December 18th.

Additional details can be found here.

Andrea Pekala has joined Martis Capital as CFO & Chief Compliance Officer, and will be based in the Washington, DC office.  Prior to Martis Capital, Andrea was a Principal at The Carlyle Group, serving as the Deputy Head of the Fund Management group, overseeing the administration of Carlyle’s U.S. Growth Buyout and Mexico funds, among others,  and headed up the strategic operations group.   Andrea started her career at PwC.  She received a BS in Accounting from the University of Maryland and is a CPA (currently non-active).

Capricorn Healthcare is pleased to announce that it has rebranded as Martis Capital.  The fund will continue its current strategy of private equity investing in middle-market healthcare companies.

In addition, as part of the rebranding, Martis has a new web address, www.martiscapital.com. Please visit us there to see our new website and learn more about our strategy, team, and portfolio companies.

About Martis Capital

Martis Capital invests in buyout and growth equity opportunities in middle-market companies providing innovative and cost-effective products and services within the services & outsourcing, information technology, and consumer & wellness subsectors of the North American healthcare industry.  Martis Capital manages more than $725 million of capital and is currently investing out of its second fund.  The firm is based in Palo Alto, CA and Washington, DC.

For more information, please email us at info@martiscapital.com.