Ex-KKR veteran launches health care investment firm

August 17, 2020.

A former KKR executive has formed his own firm called Patient Capital to pursue private equity deals in the health care industry, the new company said on Monday. 

Jim Momtazee, a former dealmaker at New York-based investment firm KKR, unveiled his new initiative, which seeks to partner with management teams “whose products, services, and technologies improve health.” 

The investment company said it hopes to manage large pools of capital and plans to invest broadly in the health care industry, which includes “technology-enabled services, biopharmaceuticals, the pharmaceutical value chain, medical devices, diagnostics, providers, digital health and consumer health.”

"In an industry as critical, complex and capital-intensive as health care, there exists a need for a specialized investment firm with substantial scale that is built for and focused every day on health," Momtazee said. 

"Successful health care organizations relentlessly focus on the patient,” Momtazee said. “A successful and enduring health care investment firm must do the same.”

Before going out on his own, Momtazee spent more than two decades at KKR. He helped create the firm’s American health care industry group in 2001 and led it for more than a decade. 

Major health care investments during Momtazee’s time at the firm include biopharmaceutical company Jazz Pharmaceuticals in 2004, U.S. hospital operator HCA Healthcare in 2006 -- which was a $33 billion transaction and at the time the largest cash buyout in history -- contract research organization PRA Health Sciences in 2013 and biotechnology company BridgeBio Pharma in 2016. 

Joining him at his new venture is Maria Walker, who will be the chief financial officer of Patient Square. Walker spent 17 years at consulting company KPMG as a senior partner and a global lead in its private equity practice and was most recently the founder and CEO of biotechnology startup Recuerdo Therapeutics, according to the new firm. 

", as a dedicated health care firm, will make outstanding investments through its depth of relationships, insight, and resources, while maintaining the highest standards of communication and transparency to investors,” Walker said.