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Persistence Capital Partners
Persistence Capital Partners is a private equity firm focused on the healthcare sector. It invests in growth-and-service-oriented healthcare businesses through...
Persistence Capital Partners
Persistence Capital Partners is a private equity firm focused on the healthcare sector. It invests in growth-and-service-oriented healthcare businesses through acquisitions, management buy-outs, and growth capital. The company is based in Montreal, Canada.
General information
Firm type
Private Equity
Year founded
2008
AUM
Undisclosed
Location
Region
North America
Country
Canada
City
Montreal
Corporate office
Montreal, Canada
Principals
Dr. Sheldon Elman
Founding Partner
Stuart M. Elman
Managing Partner
Norman M. Steinberg
Senior Advisor
Zev Zelman
General Counsel
Nicholas Badder
Principal
Ryan Lambton
Vice President – Finance
Idris Bandaly
Vice President
Ian Johnson
Associate
Sector focus
Frequently asked questions
Is Persistence Capital Partners a single-family office or a fund manager?
It operates as a private equity fund manager, not a family office. The firm raises capital from Canadian institutional investors, financial institutions, and high-net-worth individuals. The founding partners also commit significant personal capital to the funds.
How does PCP source healthcare deals in Canada?
PCP sources through a proprietary network built on three decades of healthcare operations and regulation in Canada. The firm positions its regulatory literacy and sector specialization as the primary deal-origination edge, targeting entrepreneur-led businesses where founders seek a partner who already speaks the operational and compliance language.
What EBITDA range does PCP target, and does it syndicate above that?
The firm targets Canadian healthcare companies with EBITDA between C$1 million and C$15 million. For investments above that range, PCP brings in co-investing partners while retaining the lead structuring role.
Does PCP invest outside Canada?
No. PCP restricts its mandate to Canadian-based or Canadian-operated healthcare businesses, describing the country as 'the market we know.' The portfolio map — fertility, pharmacy, diabetes, dermatology, veterinary, and lab services — shows concentration in Ontario and Quebec.
What types of healthcare businesses has PCP exited?
The exited portfolio includes Anima-plus (Quebec's largest veterinary clinic network), Environex (Quebec lab services), Horizon (occupational health), Lab Bio-medic (Quebec medical diagnostics), Manna Research (site investigator group), MCA Dental Group (Canadian DSO), Medisys (corporate health), Medvue (diagnostic imaging), and several others. These exits map a consistent roll-up strategy across fragmented Canadian healthcare services.
Who runs day-to-day investment decisions at PCP?
Founding Partner Dr. Sheldon Elman and Managing Partner Stuart M. Elman lead the firm. The senior team also includes Principal Nicholas Badder and senior advisor Norman Steinberg, a former Norton Rose Fulbright chairman. The full listed team numbers eight across investment and finance functions.
Does PCP make minority growth investments or only control deals?
PCP acquires private companies, supports management buy-outs, provides growth capital, and leads consolidations. The firm states it seeks full or partial exit opportunities for business owners and works actively with management teams post-close, suggesting it can do both control and significant-minority structures.
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