HealthCap is a private equity firm specializing in creative growth capital and real estate solutions for the strategic needs of the healthcare industry.
HealthCap operating capital investments are typically structured as recapitalizations, buyouts, or infusions of growth capital. We target entrepreneurial businesses that possess leading market share, the potential for rapid growth and increased profitability, and/or the prospect for complementary acquisitions.
Our real estate investments generally involve a complete financing solution for both the development of new facilities and the acquisition of existing buildings. We invest in on- and off-campus buildings affiliated with hospital systems, specialty care providers and established multi-site physician groups.
Criteria for Investment:
Long-standing trend of organic growth and profits
Unique niche with opportunities for growth and consolidation
Leadership team that will stay in-place and retain significant equity
Stable environment with predictable reimbursement
Targeted Industry Segments:
Acute & Subacute Hospitals
Seniors Housing & Long-Term Care
As Managing Partner, Mr. Jackson is responsible for the corporate strategy and overall direction of HealthCap and is actively involved with the financing and capital structuring for all real estate investments. He has spent the majority of his 17 year career specializing in healthcare real estate and has been involved in planning, financing, developing, and acquiring more than $500 million of healthcare real estate. He has worked with a wide variety of healthcare companies ranging from national hospital systems and specialty care operators to local physician group practices, with notable client relationships including Children’s Hospital Colorado, Tenet Healthcare, HCA, University of Kansas Hospital, Christus Health and RehabCare Group.
Mr. Jackson previously served as Managing Director of HealthCap, as well as Senior Vice President and Development Manager of The Cirrus Group prior to its 2012 merger with HealthCap. Before HealthCap, Mr. Jackson held regional leadership and development positions with several nationally recognized healthcare real estate companies including Lend Lease Group, Lauth Property Group and Hammes Company. Prior to entering the healthcare real estate industry, Mr. Jackson held positions with a publicly-traded retail energy provider and several start-up e-commerce companies.
Mr. Jackson holds an M.B.A. from Southern Methodist University and a B.A. from The University of Texas at Austin. He is also a Texas-licensed real estate broker.
Mr. Underwood specializes in healthcare investment opportunities located in the western United States with a primary focus on physician practices and ancillary services, acute care hospitals and post-acute care sectors. During his time at HealthCap and The Cirrus Group, Mr. Underwood has played an integral role in the development and disposition of healthcare investments valued in excess of $400 million.
Previously, Mr. Underwood served as Vice President of Real Estate Services for The Cirrus Group. Prior to joining Cirrus, Mr. Underwood benefited from 10 years of experience in the Phoenix real estate market focusing on asset management, leasing, and construction of residential and commercial real estate properties.
Mr. Underwood holds a B.S. in Economics from the University of Redlands. Additionally, Mr. Underwood received his Arizona Real Estate Broker License in 2000.
Mr. Godfrey is the founder and CEO of Bloodbuy. Prior to founding Bloodbuy, Mr. Godfrey sourced and structured control investments on behalf of HealthCap in the following healthcare verticals: outpatient services, mission critical real estate, acute and post-acute hospitals, seniors housing, long-term care, and physician-partnered surgical platforms. During his time at HealthCap and its predecessor entity, The Cirrus Group, Mr. Godfrey has played a principal role in the underwriting, structuring and closing of numerous healthcare sector principal transactions with an aggregate investment basis in excess of $600 million USD.
Previously, Mr. Godfrey served as Vice President and Director of Finance for The Cirrus Group, and chaired its Investment Committee. Prior to Cirrus, Mr. Godfrey held positions with Hillwood Capital, Macfarlan Capital Partners, Lincoln Property Company and J.P. Morgan.
Mr. Godfrey is adept at all aspects of healthcare investing, commercial real estate development and venture startup. His expertise includes deal team leadership, debt and equity capital structuring, joint venture structuring and negotiation, asset and stock purchases, off-balance-sheet financing, investment management and repositioning, capital markets offerings, and private placements.
Mr. Godfrey currently serves on the board of directors for BloodSolutions and the Southern Methodist University (SMU) Lettermen’s Association. He holds a Bachelor of Business Administration with concentrations in finance and real estate from the Edwin L. Cox School of Business at SMU, and a Master’s degree in Healthcare Leadership from Brown University.
As co-founder, partner, and CEO of HealthCap’s predecessor, The Cirrus Group, Mr. Hutchison has focused his attention on medical and healthcare-related developments since 1996. Prior to forming Cirrus, Mr. Hutchison worked for Southland Real Estate Resources at its Las Colinas development where he served as Project Manager for the 400 rooms, 24-story Mandalay Four Seasons Hotel (now the Omni Mandalay). Later, Mr. Hutchison formed Trans Texas Investment Properties with which he developed over 1,000,000 sf of commercial office and retail space across the DFW Metroplex. Notable during this time was Mr. Hutchison’s landmark 500,000 sf, 24-story Trans Texas Tower (now Occidental Tower) in Dallas.
With The Cirrus Group, Mr. Hutchison guided almost 100 medical development projects in 14 states including ambulatory surgery centers, surgical hospitals, acute care hospitals, post-acute, rehab, and long-term hospitals, medical office buildings, primary care clinics, and other complex medical facilities. Included in this list are notable projects Park Cities Medical Plaza in University Park, Texas; Trophy Club Medical Plaza in Trophy Club, Texas; North Texas Medical Center in Denton, Texas; North Central Medical Plaza in Dallas, Texas; and several hospital and MOB projects in Southern California.
Mr. Hutchison earned a BBA from The University of Texas in Austin and an MBA from Southern Methodist University.
Additionally, Mr. Hutchison currently serves on the board of directors for Urgent Care for Kids and Bloodbuy.
As Partner, Mr. Dodd is responsible for the Company’s healthcare operating company investments and is also a member of HealthCap’s Investment Committee. He serves on the boards of Bloodbuy and Urgent Care for Kids. Mr. Dodd has had transactional responsibility for over $750 million of projects with financing combinations of debt, mezzanine financing and equity. Additionally, Mr. Dodd has structured asset and entity level joint venture transactions with some of the largest capital providers and REITs in the country.
Mr. Dodd was formerly Managing Partner of HealthCap following its 2012 merger with The Cirrus Group where he served as President since 2005 and a Partner since 2002. Mr. Dodd holds a B.B.A. from Texas A&M University and an M.B.A. from the University of South Carolina. Additionally, Mr. Dodd serves on the board of Healing Hands Ministries, a medical and dental non-profit clinic serving uninsured patients in Dallas County.
As the Chief Financial Officer for HealthCap, Mrs. Toliver oversees the financial reporting for all special purpose and corporate entities, treasury management functions, partnership maintenance and oversight, loan procurement and compliance, human resources and asset purchase/disposition closing responsibilities.
Mrs. Toliver joined HealthCap’s predecessor, The Cirrus Group, in 2004. Prior to joining The Cirrus Group, Mrs. Toliver spent several years in the Audit and Assurance practice at KPMG, LLP.
Mrs. Toliver graduated with a B.B.A. in Accounting and Marketing from Abilene Christian University and holds a CPA license in the state of Texas.