At a glance
| Assets under management | $2.8B (as of Jun 2026) S1 |
|---|---|
| EBITDA range | $3M+ S2 |
| Check size | $15M to $70M S2 |
| Deal types | Platform, Add-on, Minority, Growth S3 |
| Geography | North America S2 |
| Sectors | Healthcare Services, Industrial & Manufacturing, IT Services & MSP |
What DW Healthcare Partners buys
DW Healthcare Partners invests only in healthcare. Founded in 2002, it reports $2.8 billion of assets under management across six funds as of June 2026, and counts 49 platform companies and 81 add-ons since it began. Its holdings range from healthcare services such as behavioral health care, virtual nurse triage and clinical staffing to makers of medical devices, specialty products and animal health products, plus a medical education company and, since 2026, an IT managed services provider that serves healthcare clients.
It invests from two pools. The main fund looks for companies with $10 million or more of EBITDA and puts in $50 million to $70 million of equity. The Founders Fund, a $210 million fund closed in 2023, targets companies with $3 million to $6 million of EBITDA and invests $15 million to $20 million. Both prefer a majority stake in a North American company but can take a minority position. The firm's stated deal types are partial liquidity for owners, management buyouts and growth capital, including money for add-on acquisitions.
Recent deals
Announced in the 24 months before October 27, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| Feb 2026 | LKC TechnologiesEye diagnostic device maker sold to AMETEK after about three years in the Founders Fund | Exit | Industrial & Manufacturing | Source |
| 2026 | Proactive Technology ManagementFounders Fund investment in a Bingham Farms, Michigan IT managed services and software development firm focused on healthcare clients | Platform | IT Services & MSP | Source |
| 2026 | Pangea PharmaceuticalsFund VI investment in a Plantation, Florida specialty pharmaceutical company that acquires and sells FDA prescription products | Platform | Source |
Portfolio by sector
From the firm's portfolio page S5.
Founders Fund
- Proactive Technology Management
- TubeWriter
Fund IV
- 360 Behavioral Health
- Aequor Healthcare Services
- Champion Chair
- HydraFacial Company
- SoClean
- Spectrum Solutions
Fund V
- Bio Agri Mix
- CareXM
- Cefaly
- Med Learning Group
- Parnell Living Science
- Vets Plus
Fund VI
- Pangea Pharmaceuticals
Past investments: LKC Technologies, DermLite
Greymont’s take
How DW Healthcare Partners fits a seller
DW Healthcare Partners fits owners of profitable healthcare businesses, whether services providers, product makers or IT firms serving healthcare clients, who want a specialist buyer rather than a generalist. Owners with $3 million to $6 million of EBITDA are the target of its Founders Fund, which in 2026 backed Proactive Technology Management, a healthcare-focused IT managed services firm. The firm says it prefers to partner with the existing owners or managers, leaves daily operations to them after closing, and usually holds a company for three to seven years.
Its two most recent sales went to strategic buyers: LKC Technologies to AMETEK in February 2026 and DermLite to FotoFinder in March 2024. Owners should ask which fund would invest, how much equity they would keep, and how the firm's board seats and add-on plans would shape the business.
Questions owners ask
What size companies does DW Healthcare Partners buy?
Its Founders Fund targets companies with $3 million to $6 million of EBITDA and invests $15 million to $20 million of equity. Its main fund looks for $10 million or more of EBITDA, with equity checks of $50 million to $70 million.
Does DW Healthcare Partners invest in healthcare IT services companies?
Yes. In 2026 its Founders Fund invested in Proactive Technology Management, which the firm describes as an IT managed services provider and software and AI developer focused on healthcare clients.
Does the owner keep a stake after DW Healthcare Partners invests?
Usually. The firm prefers majority control, but it says most of its investments involve partnering with the owners or management team, and it offers deals where owners sell only part of the company. It will consider a full buyout and can bring in executives when owners want to step away.
How long does DW Healthcare Partners hold its companies?
It has no set exit date but says it typically holds an investment for three to seven years. For example, it invested in LKC Technologies in June 2023 and sold the company to AMETEK in February 2026.
Sources
- S1DW Healthcare Partners home page Accessed October 27, 2026
- S2DW Healthcare Partners: Fund Investment Criteria Accessed October 27, 2026
- S3DW Healthcare Partners: Transaction Types Accessed October 27, 2026
- S4DW Healthcare Partners: Deal Process Accessed October 27, 2026
- S5DW Healthcare Partners: Our Companies Accessed October 27, 2026
- S6DW Healthcare Partners Raises Founders Fund With $210 Million of Capital Commitments (March 23, 2023) Accessed October 27, 2026
- S7DW Healthcare Partners Announces Sale of LKC Technologies to AMETEK, Inc. (February 3, 2026) Accessed October 27, 2026
- S8DW Healthcare Partners company page: Proactive Technology Management Accessed October 27, 2026
- S9DW Healthcare Partners company page: Pangea Pharmaceuticals Accessed October 27, 2026
- S10DW Healthcare Partners: News Accessed October 27, 2026
- S11DW Healthcare Partners Invests in LKC (June 6, 2023) Accessed October 27, 2026
- S12DW Healthcare Partners: Adding Value Accessed October 27, 2026
Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with DW Healthcare Partners. Figures are as reported on the dates shown and may have changed. Request a correction