Health Catalyst Capital

Charles Boorady is the Managing Partner and leads the firm. The investment team also includes Principal Boris Pevzner, Associate Tanmay Gera, and dedicated Investment Partners John Sullivan (smart devices) and Judith Trepanier (women's health and longevity), indicating a specialist-driven decision structure.

HCC leverages relationships with over 250 major healthcare and technology enterprises to identify investment themes and opportunities. The firm also co-invests alongside strategic limited partners, some of which are themselves large healthcare organizations that contribute to sourcing.

HCC self-identifies as a private equity firm, not a venture firm. However, its focus on growth-stage healthcare IT businesses and its use of thematic sourcing and AI-driven value creation blur the line between traditional private equity and specialist growth investing.

The firm focuses on the lower middle market, targeting privately held healthcare technology and tech-enabled services companies. It describes its universe as businesses where operational experience and industry expertise can have the greatest impact on growth and capital appreciation.

HCC invests directly in portfolio companies. The firm's website describes co-investing alongside strategic partners, some of which are limited partners in its funds, suggesting a direct-investment model rather than a fund-of-funds approach.

The firm's disclosed portfolio is tightly concentrated in healthcare IT and tech-enabled services. It does not list biotech, medical devices, pharmaceuticals, hospitals, or non-healthcare verticals. Its stated focus is U.S. healthcare, a non-cyclical $4 trillion-plus annual market.

HCC explicitly describes AI integration as a core value-creation lever. Its website states the firm helps portfolio company management teams integrate AI into their operations, and several portfolio companies — including Clearsense, Holmusk, and Insightin — have AI-enabled platforms at the center of their product offerings.