Healthcare services private equity firm
Zenyth Partners
- HeadquartersNew York, NY S1
- Websitezenythpartners.com
- Last verifiedOctober 20, 2026
At a glance
| Assets under management | $1.5B (as of Jun 2025) S5 |
|---|---|
| Latest fund | Zenyth Partners II, LP, $375M (Jul 2025) S5 |
| EBITDA range | Up to $10M S3 |
| Check size | $40M to $60M S3 |
| Deal types | Platform, Add-on S3 |
| Geography | United States S3 |
| Sectors | Healthcare Services, Dental |
What Zenyth Partners buys
Zenyth Partners is a New York private equity firm that invests only in US healthcare services businesses. It likes to build companies from an early stage: it founded ReFocus Eye Health in 2018, Helping Hands Family in 2019 and Align ENT + Allergy in 2022, then grew each by bringing practices into the platform. It takes majority control, will back businesses with anywhere from no EBITDA to about $10 million at entry, and puts $40 million to $60 million of equity into each platform with conservative debt. Each fund backs only a few new platforms, and founders, clinicians and managers are given a meaningful share of the equity.
The firm managed about $1.5 billion as of June 2025 and closed Zenyth Partners II at $375 million in July 2025. Its companies cover eye care, dental support (The Smilist), ENT and allergy, autism therapy, home health, dermatology and kidney care. Most owners will meet Zenyth when one of these platforms asks their practice to join, as ReFocus did five times between July 2025 and July 2026.
Recent deals
Announced in the 24 months before October 20, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| Jul 2026 | Solinsky EyeCareConnecticut ophthalmology group with 11 locations joined ReFocus Eye Health | Add-on | Healthcare Services | Source |
| Mar 2026 | Omni Ophthalmic Management Consultants (OOMC)Seven ophthalmology practices and surgery centers in New Jersey, Pennsylvania, Maryland and New York joined ReFocus Eye Health | Add-on | Healthcare Services | Source |
| Aug 2025 | The Eye CenterFive-location Northern Virginia eye practice joined ReFocus Eye Health | Add-on | Healthcare Services | Source |
| Jul 2025 | Atlantic Retina CenterSix-location retina practice in Maryland and Delaware joined ReFocus Eye Health | Add-on | Healthcare Services | Source |
| Jul 2025 | New View Eye CenterLaser and specialty eye care provider acquired by ReFocus Eye Health | Add-on | Healthcare Services | Source |
| Jul 2025 | Zenyth Partners IIClosed at $375 million, plus a sidecar co-investment vehicle; the general partner committed about 10% | Fund close | Source |
Portfolio by sector
From the firm's portfolio page S4.
Dental
- The Smilist
Healthcare Services
- ReFocus Eye Health
- Align ENT + Allergy
- Helping Hands Family
- LifeCare Home Health Family
- Schweiger Dermatology Group
- Renal Care 360
Greymont’s take
How Zenyth Partners fits a seller
Zenyth fits physicians and healthcare services owners who are open to joining a larger group rather than selling to a single outside buyer. For most practices, the path is an affiliation with one of its platforms, such as ReFocus for eye care or The Smilist for dentistry. At ReFocus, a management services company takes over the administrative side while doctors keep their clinical decisions. Zenyth says it gives founders and clinicians significant equity, so part of the value of a deal may come as ownership in the larger group rather than cash.
Owners should ask how much of the price is paid in cash at closing versus rolled equity, how pay and the management fee work after the sale, and when Zenyth expects to sell the platform.
Questions owners ask
What size companies does Zenyth Partners invest in?
Its approach page lists companies with up to about $10 million of EBITDA at entry, including some with little or no EBITDA, and $40 million to $60 million of equity per platform.
Does Zenyth Partners buy dental practices?
Yes, through The Smilist, a dental support organization in its portfolio with more than 60 offices across New York, New Jersey, Connecticut, Pennsylvania and Delaware.
Does Zenyth take majority control?
Yes. Its stated ownership approach is majority or control investments, while giving founders, clinicians and management teams significant equity ownership in the business.
How big is Zenyth's latest fund?
Zenyth Partners II closed in July 2025 with $375 million of commitments plus a sidecar co-investment vehicle, bringing the firm to about $1.5 billion of assets under management.
Sources
- S1Zenyth Partners home page Accessed October 20, 2026
- S2About Zenyth Partners Accessed October 20, 2026
- S3Zenyth Partners: Approach and Investment Focus Accessed October 20, 2026
- S4Zenyth Partners: Our Portfolio Accessed October 20, 2026
- S5Zenyth Partners Closes Fund II with $375 Million of Commitments (July 7, 2025) Accessed October 20, 2026
- S6Zenyth Partners releases on PR Newswire Accessed October 20, 2026
- S7Zenyth Partners: ReFocus Eye Health Accessed October 20, 2026
- S8Zenyth Partners: The Smilist Accessed October 20, 2026
- S9ReFocus Eye Health Partners with OOMC (March 17, 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 Zenyth Partners. Figures are as reported on the dates shown and may have changed. Request a correction