Healthcare-focused private equity firm
WindRose Health Investors
- HeadquartersNew York, NY S2
- Websitewindrose.com
- Last verifiedOctober 20, 2026
At a glance
| Assets under management | $8B (as of Aug 2026) S3 |
|---|---|
| Latest fund | WindRose Health Investors VII, $2.6B (Dec 2025) S2 |
| Deal types | Platform, Growth S4 |
| Geography | United States S3 |
| Sectors | Healthcare Services, Software & SaaS |
What WindRose Health Investors buys
WindRose Health Investors is a New York private equity firm that invests only in healthcare. It backs services and technology-enabled businesses that sell to health plans, care providers, drug makers and employers, and it looks for companies that are already profitable and help their customers lower costs. The firm manages about $8 billion and closed its seventh fund, WindRose Health Investors VII, at its $2.6 billion hard cap in December 2025. That fund plans 11 to 13 investments in total.
Most of its announced deals are majority stakes: buyouts, recapitalizations alongside founders, and majority growth investments. It sometimes invests next to an existing backer, as it did with Francisco Partners at Avalon Healthcare Solutions in January 2026. WindRose does not publish revenue or EBITDA minimums, but with a fund of this size and about a dozen deals planned, it is a buyer for established companies rather than small practices. Recent deals cover clinical trial services, pharmacy care, lab benefit management and radiology software.
Recent deals
Announced in the 24 months before October 20, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| Aug 2026 | Verified Clinical TrialsRecapitalization of the clinical trial subject registry company; the founders stay involved and a new CEO joins | Platform | Healthcare Services | Source |
| May 2026 | AltruixBehavioral health pharmacy platform sold to Frazier Healthcare Partners after an initial investment in December 2021 | Exit | Healthcare Services | Source |
| Jan 2026 | Avalon Healthcare SolutionsInvestment in the lab benefit management platform for health plans, alongside existing backer Francisco Partners | Investment | Healthcare Services | Source |
| Dec 2025 | Stellus RxStrategic investment in a Plano, Texas pharmacist-led medication care management platform | Investment | Healthcare Services | Source |
| Dec 2025 | WindRose Health Investors VII$2.6 billion fund closed at its hard cap, up from $1.4 billion for Fund VI | Fund close | Source | |
| Oct 2025 | BPD HealthcareHealthcare marketing and communications firm sold to MJH Life Sciences | Exit | Source | |
| May 2025 | Workplace OptionsEmployee wellbeing provider sold to TELUS Health for about $425 million | Exit | Healthcare Services | Source |
| Jan 2025 | CIVIENew radiology software company formed by buying the technology platform of Collaborative Imaging | Platform | Software & SaaS | Source |
Portfolio by sector
From the firm's portfolio page S1.
Healthcare Services
- Verified Clinical Trials
- Avalon Healthcare Solutions
- Stellus Rx
- SubjectWell
- CardioOne
Software & SaaS
- CIVIE
- MyndYou
Past investments: Altruix, BPD Healthcare, Workplace Options
Greymont’s take
How WindRose Health Investors fits a seller
WindRose fits founders of profitable healthcare services or healthcare technology companies that sell to health plans, providers, pharma companies or employers and want a buyer that does nothing but healthcare. Founders often stay involved after a deal. At Verified Clinical Trials in August 2026 the two founders stayed active while WindRose brought in a new CEO, and at SubjectWell and CardioOne the existing managers kept running the business and stayed shareholders. The firm also has an in-house technology team, WindRose Gradient, that helps portfolio companies with AI and data projects.
Its recent exits went to both a corporate buyer (Workplace Options to TELUS Health) and other investors (Altruix to Frazier Healthcare Partners), roughly three to four and a half years after it invested. Owners should ask whether WindRose plans to bring in a new chief executive, and how much equity they would keep.
Questions owners ask
How big is WindRose Health Investors' current fund?
WindRose closed Fund VII at its $2.6 billion hard cap in December 2025, well above the $1.4 billion it raised for Fund VI in 2023. It said Fund VII is targeting 11 to 13 investments in total.
Does WindRose invest in healthcare technology companies?
Yes. It describes its focus as technology-enabled services in healthcare. Recent examples include CIVIE, a radiology software company it formed in January 2025, and MyndYou, a conversational AI company for health plans and providers that it backed in September 2024.
Do founders stay involved after WindRose invests?
Often. In the August 2026 Verified Clinical Trials recapitalization, the two co-founders stayed actively involved while WindRose appointed a new chief executive. At SubjectWell and CardioOne in 2024, existing management kept leading the companies and remained shareholders.
Who has WindRose sold companies to recently?
It sold Altruix to Frazier Healthcare Partners in May 2026, BPD Healthcare to MJH Life Sciences in October 2025, and Workplace Options to TELUS Health in May 2025 in a deal valued at about $425 million.
Sources
- S1WindRose Health Investors news releases on PR Newswire Accessed October 20, 2026
- S2WindRose Health Investors Closes Oversubscribed Fund VII at $2.6 Billion (December 3, 2025) Accessed October 20, 2026
- S3WindRose Health Investors Announces Recapitalization of Verified Clinical Trials (August 6, 2026) Accessed October 20, 2026
- S4WindRose Health Investors Completes Majority Growth Investment in SubjectWell (April 30, 2024) Accessed October 20, 2026
- S5WindRose Health Investors Completes Sale of Altruix to Frazier Healthcare Partners (May 28, 2026) Accessed October 20, 2026
- S6WindRose Health Investors Makes Investment in Avalon Healthcare Solutions (January 12, 2026) Accessed October 20, 2026
- S7WindRose Health Investors Makes Strategic Investment in Stellus Rx (December 8, 2025) Accessed October 20, 2026
- S8WindRose Health Investors Completes Sale of BPD Healthcare to MJH Life Sciences (October 22, 2025) Accessed October 20, 2026
- S9WindRose Health Investors Completes the Sale of Workplace Options to TELUS Health (May 14, 2025) Accessed October 20, 2026
- S10WindRose Health Investors Makes Strategic Investment in CIVIE (January 13, 2025) Accessed October 20, 2026
- S11WindRose Health Investors Makes Strategic Investment in MyndYou (September 5, 2024) Accessed October 20, 2026
- S12WindRose Health Investors Acquires CardioOne (March 4, 2024) Accessed October 20, 2026
- S13WindRose Health Investors Launches WindRose Gradient (April 2, 2026) Accessed October 20, 2026
- S14WindRose Health Investors Closes Fund VI at Over $1.4 Billion (July 12, 2023) 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 WindRose Health Investors. Figures are as reported on the dates shown and may have changed. Request a correction