Lower middle market healthcare private equity firm

RS2 Healthcare Partners

Formerly Riverside Partners

At a glance

EBITDA range$3M to $15M S3
Deal typesPlatform, Add-on, Minority S3
GeographyNorth America, Any location (add-ons) S3
SectorsHealthcare Services, Industrial & Manufacturing, Software & SaaS, IT Services & MSP

What RS2 Healthcare Partners buys

RS2 Healthcare Partners is a Boston private equity firm that went by Riverside Partners until May 2026, when it took a new name and narrowed its work to healthcare alone. It has raised $1.6 billion since 1989 across six funds. It looks for founder-owned companies based in North America with $3 million to $15 million of EBITDA in pharma and life sciences services, medical device and contract manufacturing, healthcare technology and tech-enabled services, revenue cycle management, and healthcare supply chain and logistics.

RS2 will take either control or a minority stake. It brings in three advisory boards made up of healthcare executives, practicing physicians and AI specialists who work with its companies. It prefers recurring revenue, a loyal and varied customer base, more than one way to grow and limited regulatory risk. Its first new platform under the RS2 name was KMM Group, a Pennsylvania maker of tight-tolerance medical device parts, in July 2026. Smaller companies, including ones outside North America, can fit as add-ons to current holdings such as Revecore, UnisLink, Syner-G or KMM.

Recent deals

Announced in the 24 months before November 2, 2026.

DateCompanyTypeSectorSource
Jul 2026KMM GroupPrecision contract manufacturer of medical device components in Hatboro, PA; first new platform since the healthcare rebrand, with both co-founders staying in senior rolesPlatformIndustrial & ManufacturingSource

Portfolio by sector

From the firm's portfolio page S4.

Healthcare

  • Ergotron
  • KMM Group
  • Loftware Active (shared with Accel-KKR)
  • Net32
  • Revecore Active (minority alongside GrowthCurve Capital)
  • Syner-G
  • UnisLink

Technology

  • 3Play Media
  • Alarm Connections
  • Calero
  • Convergence Networks
  • Openforce

Greymont’s take

How RS2 Healthcare Partners fits a seller

RS2 suits founders of healthcare businesses that serve providers, drug developers or device makers rather than treating patients themselves: contract manufacturers, pharma and regulatory consultancies, billing and revenue cycle firms, and healthcare software or data companies. Owners who want to keep a real stake can ask for a minority deal, since the firm does both and still holds minority positions in companies such as Loftware and Revecore.

In the KMM Group deal, the two co-founders stayed on in senior technical and operating roles while RS2 brought in a chief executive who had run Tegra Medical, one of its past companies. An owner should ask early whether RS2 expects to add a new leader, and how long it usually holds a company before selling. Owners of IT or software businesses should know that the firm no longer makes new investments outside healthcare.

Questions owners ask

Is RS2 Healthcare Partners the same firm as Riverside Partners?

Yes. Riverside Partners, a Boston firm founded in 1989, renamed itself RS2 Healthcare Partners in May 2026 and said that from then on it would make only healthcare investments in the lower middle market.

What size companies does RS2 invest in?

Its published criteria call for founder-owned companies headquartered in North America with $3 million to $15 million of EBITDA. Add-on acquisitions for its existing companies can be smaller and can be located anywhere in the world.

Does RS2 take minority stakes?

Yes. Its criteria list both control and minority positions. It also stays on as a minority investor after partial sales: Accel-KKR became an equal partner in Loftware in 2023, and GrowthCurve Capital bought control of Revecore in 2022 with RS2 keeping a significant stake.

Does RS2 still invest in technology companies?

Not as new platforms. Since the May 2026 rebrand it pursues only healthcare deals, though it still lists older technology holdings such as Convergence Networks, Calero, 3Play Media and Openforce as current.

Sources

  1. S1RS2 Healthcare Partners home page Accessed November 2, 2026
  2. S2RS2 Healthcare Partners: About RS2 Accessed November 2, 2026
  3. S3RS2 Healthcare Partners: Our Approach and Investment Criteria Accessed November 2, 2026
  4. S4RS2 Healthcare Partners: Our Portfolio Accessed November 2, 2026
  5. S5Riverside Partners Rebrands as RS2 Healthcare Partners (May 11, 2026) Accessed November 2, 2026
  6. S6KMM Group Receives Investment from RS2 Healthcare Partners, PR Newswire (July 27, 2026) Accessed November 2, 2026
  7. S7RS2 Healthcare Partners Completes Investment in KMM Group; Appoints J. Mark King as CEO (posted September 24, 2026) Accessed November 2, 2026
  8. S8Riverside Partners Sells Significant Stake in Loftware to Accel-KKR (March 28, 2023) Accessed November 2, 2026
  9. S9Revecore, a Riverside Partners Portfolio Company, Acquires Kemberton and Cura (August 3, 2022) Accessed November 2, 2026
  10. S10RS2 Healthcare Partners portfolio entry: Ergotron Accessed November 2, 2026
  11. S11RS2 Healthcare Partners: News Accessed November 2, 2026

Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with RS2 Healthcare Partners. Figures are as reported on the dates shown and may have changed. Request a correction

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