Hildred Capital Management: Buy Box & Recent Acquisitions

At a glance

Assets under management	$3.5B (as of Dec 2025) S7
Latest fund	Hildred Equity Partners III, $800M (Jan 2025) S6
Revenue range	$10M to $100M S1
Check size	$25M to $300M S1
Deal types	Platform, Add-on, Growth S6
Geography	United States, Canada S3
Sectors	Healthcare Services, Consumer & Food, Software & SaaS

What Hildred Capital Management buys

Hildred is a New York firm that invests only in healthcare. It started in 2014 as the family office of Howard and David Solomon after the sale of Forest Laboratories, and later moved to raising institutional funds. It looks for companies with $10 million to $100 million of revenue and enterprise values of $50 million to $500 million, and puts $25 million to $300 million of equity into each deal. Its third fund closed above $800 million in January 2025, and it reported more than $3.5 billion under management in December 2025.

Hildred mostly takes control and says it builds value through operating improvements, not heavy debt. Its targets span care delivery (dermatology, physical therapy, infusion and med spas), consumer health products, pharmaceutical services, medical devices and healthcare software. It pitches itself to companies raising institutional capital for the first time. A smaller practice or clinic is most likely to meet Hildred as an add-on to a platform such as SportsMed Physical Therapy, which grew from 7 to 54 clinics after Hildred invested in 2018.

Recent deals

Announced in the 24 months before October 20, 2026.

Date	Company	Type	Sector	Source
Aug 2026	DermCare ManagementHildred's dermatology management platform combined operations with U.S. Dermatology Partners, forming a group across 12 states	Investment	Healthcare Services	Source
Mar 2026	The Physical Therapy and Rehabilitation CenterTwo clinics in Hamden and West Haven, Connecticut added to SportsMed Physical Therapy, bringing it to 54 locations	Add-on	Healthcare Services	Source
Jan 2026	OrangeTwistMed spa platform bought six locations in Colorado and Nevada and took a minority investment from SBC Medical Group	Add-on	Healthcare Services	Source
Dec 2025	TebraHildred led $250 million of new equity and debt for the practice software company	Growth	Software & SaaS	Source
Nov 2025	AleraCare and Pure HealthcareMerger completed, creating an infusion and specialty care group with 77 centers in 14 states	Investment	Healthcare Services	Source
Oct 2025	WeCare Medical PT and WellnessMaplewood, New Jersey clinic added to SportsMed Physical Therapy	Add-on	Healthcare Services	Source
Feb 2025	Revance TherapeuticsPortfolio company Crown Laboratories completed its purchase of the public aesthetics company	Add-on		Source
Feb 2025	Pharmaceutics International (Pii)Contract drug developer and manufacturer sold to Jabil by Hildred and its co-investors	Exit		Source
Jan 2025	Hildred Equity Partners IIIFinal close above $800 million, past its $600 million target	Fund close		Source

Portfolio by sector

From the firm's portfolio page S4.

HCP I, HEP II

SportsMed Physical Therapy

HCP I, HEP III

Tebra

HCP I, HPP I, HEP III

Revance

HEP II

DermCare Management
Pure Infusion
OrangeTwist
Carlin Consumer Health
Healthcare.com
Binx Health
identifeye HEALTH

HEP II, HPP I

Hyland's Naturals

Past investments: Pharmaceutics International, Inc, Butterfly Network, Columbia Care

Greymont’s take

How Hildred Capital Management fits a seller

Hildred fits owners of healthcare businesses who want a buyer that knows the sector and expects to help run the company, not just fund it. Its founders came from a large drug company, and the firm describes its team as former operators, marketers and business developers as well as investors. For owners of dermatology, physical therapy, infusion or aesthetics practices, the realistic path is usually an add-on: SportsMed bought a Maplewood, New Jersey clinic in 2025 and two Connecticut clinics in 2026.

Hildred also folds its companies into larger groups. DermCare combined with U.S. Dermatology Partners in August 2026, and AleraCare merged with Pure Healthcare in November 2025. An owner who rolls equity into a Hildred platform should ask how likely a combination like that is, and what it would mean for their role and for the value of the stake they keep.

Questions owners ask

What size companies does Hildred invest in?

Its website lists a target of $10 million to $100 million of revenue and $50 million to $500 million of enterprise value, with $25 million to $300 million of equity per investment.

Does Hildred buy medical practices?

Yes, mostly through practice platforms. Current holdings include DermCare Management in dermatology and SportsMed Physical Therapy, which bought a clinic in Maplewood, New Jersey in October 2025 and two Connecticut clinics in March 2026.

How large is Hildred's latest fund?

Hildred Equity Partners III held its final close in January 2025 with more than $800 million of commitments, above its $600 million target and more than twice the size of the prior fund.

Sources

S1Hildred home page Accessed October 20, 2026
S2Hildred: About us Accessed October 20, 2026
S3Hildred: Industry focus Accessed October 20, 2026
S4Hildred: Portfolio Accessed October 20, 2026
S5Hildred: Contact Accessed October 20, 2026
S6Hildred Capital Announces Oversubscribed Final Close of Hildred Equity Partners III (January 13, 2025) Accessed October 20, 2026
S7Hildred Provides Tebra with $250 Million in New Equity and Debt Financing (December 17, 2025) Accessed October 20, 2026
S8The Rise of Hildred Capital Partners (Private Equity International, October 3, 2016, reposted on hildred.com) Accessed October 20, 2026
S9Hildred: News Accessed October 20, 2026
S10SportsMed Physical Therapy Acquires Two Clinics in Connecticut (March 16, 2026) Accessed October 20, 2026

Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with Hildred Capital Management. Figures are as reported on the dates shown and may have changed. Request a correction