Santé Capital

Santé Capital

Santé Capital was formed in 2011 by Andrew Savage and Ben Thynne, two operators who had spent the prior six years scaling Healthe Care from a standing start into a 12-hospital, $250 million-revenue platform. That exit, which delivered top-quartile returns to investors, became the blueprint: find healthcare businesses in Australia and New Zealand with differentiated offerings, install operational expertise, and grow them toward a defined exit. The firm pursues control and growth-equity investments across private hospitals, day surgeries, rehabilitation centers, cancer care, mental health facilities, and digital health platforms. Its portfolio has included angles on acute care (Wakefield Hospital, Lingard Private Hospital), mental health (South Coast Private, Belmont Private Hospital), oncology (Bowen ICON Cancer Centre, Waratah Genesis Cancer Centre), and aged care (Brunswick House). On the technology side, holdings like Clinivid, MediRecords, and HealthBeacon signal an appetite for workflow and patient-engagement software. Geographically, the team has operated across New South Wales, Queensland, Victoria, and New Zealand. In a characteristic cycle, the firm co-invested with Pacific Equity Partners to re-acquire Healthe Care in 2022, the same year it sold a majority stake in its Evolution Healthcare platform to QIC and ART. The investment team is led by Savage, Thynne, and Investment Director Bevan Tas, who joined in 2015 after a stint in KPMG's Corporate Finance practice. Savage brings a three-decade private-equity track record from CHAMP Ventures and Roc Partners, while Thynne serves as Executive Chair of Healthe Care and a director of both Evolution Healthcare and the Australian Private Hospitals Association. The firm operates from a single office in Sydney. In 2022, Santé Capital completed two defining transactions: the divestment of Evolution Healthcare's majority ownership to Australian superannuation funds and the simultaneous re-acquisition of Healthe Care alongside Pacific Equity Partners. Santé Capital's structure is that of a sector-specialist private markets firm that functions as both a direct operator and a co-investment partner to large institutional allocators. Its deal architecture often involves co-underwriting alongside groups like Pacific Equity Partners, then exiting to Australian superannuation funds — a pattern that makes it a bridge between founder-led healthcare businesses and the country's growing pool of retirement capital.