# Persistence Capital Partners

Persistence Capital Partners is a Private Equity based in Montreal, Canada.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Montreal, Canada
- **Region:** North America
- **Address:** Montreal, Canada
- **Founded:** 2008
- **Assets under management:** Undisclosed
- **Website:** persistencecapital.com
- **LinkedIn:** https://www.linkedin.com/company/persistence-capital-partners

## Regulatory record

- **Reports private funds:** No

## About

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.

## Sectors

- Healthcare Services
- Digital Health

## People

- 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

## Questions

### 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.

## Related profiles

- [Pershing Ventures](https://altss.com/profile/pershing-ventures)
- [Persistent Energy Capital](https://altss.com/profile/persistent-energy-capital)

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Last updated: 2026-06-03T20:00:00.000Z

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