Welcome!

News Feed Item

HealthQuest Capital Closes Debut Fund at $110 Million

New Fund to Invest in Healthcare Products, Diagnostics, Devices, Consumer/OTC Health and Healthcare IT

MENLO PARK, Calif., Aug. 19, 2014 /PRNewswire/ -- HealthQuest Capital (HQC), a new Menlo Park based fund sponsored by Sofinnova Ventures, today announced the closing of its debut fund at the hard cap of $110 million and in excess of the initial fund target of $50 million.

HealthQuest Capital Logo

HealthQuest will fund investments in the medical device, diagnostics, patient care products, consumer health/OTC and healthcare IT fields. HQC will focus primarily on commercial stage investments, providing capital towards growing revenues and scaling existing businesses in promising sectors.   

"HealthQuest is focused on funding innovation that can be quantified in terms of both improvements in patient outcomes as well as healthcare economics. We believe these opportunities can deliver valuable medical advances that translate into excellent financial returns," commented HealthQuest Founding Managing Partner, Garheng Kong, MD, PhD.  "We are excited to launch our debut fund, and appreciate the support of our investors for the HealthQuest strategy and team."  HealthQuest's approach will also involve targeting areas of healthcare where there is clear unmet clinical need for innovation as well as undercapitalized geographies.

HealthQuest Capital was founded by Dr. Kong in 2013. An experienced and proven investor in the healthcare sector since 2000, Dr. Kong was a General Partner at Sofinnova Ventures and Intersouth Partners. Some of his investments include Cellective Therapeutics (founding investor and Chairman, acquired by AstraZeneca), Novamin Technologies (Chairman, acquired by GlaxoSmithKline), Cempra Pharmaceuticals (Chairman), Serenex (Chairman, acquired by Pfizer) and Alimera Sciences. Recent investments include Histogenics (Chairman), Salveo Specialty Pharmacy, SARcode Bioscience Inc. (acquired by Shire), First Aid Shot Therapy (F.A.S.T.) and Castle Biosciences. Dr. Kong also sits on the board of Laboratory Corporation of America and the Duke University Medical Center Board of Visitors.

The HealthQuest investing team includes Partner Randy Scott, Founder and CEO of Novamin Technologies (acquired by GlaxoSmithKline);  Partner David Kabakoff, PhD, Co-founder, CEO and Chairman of Salmedix (acquired by Cephalon) and Chairman of Trius (acquired by Cubist); and Venture Partner Tom Callaway MD, President and Founder of Life Science Partner, a leading life science executive search firm. Combined, the full team has significant investing and operating experience in the businesses with which HealthQuest will partner.

HealthQuest's initial portfolio includes Vestagen, a manufacturer and marketer of advanced performance textile products and technologies for the hospital and healthcare setting, First Aid Shot Therapy (F.A.S.T.), which is developing and commercializing a comprehensive portfolio of liquid 'shot' OTC pharmaceutical products, and Castle Biosciences, which is commercializing a series of diagnostic tests for orphan cancers.

About HealthQuest Capital:

HealthQuest Capital makes go-to-market and early growth investments in innovative healthcare companies that are improving both patient outcomes and healthcare economics.  Investments focus on the medical device, diagnostics, patient care products, consumer health/OTC and healthcare IT fields. The HealthQuest investing team includes deep operational, clinical and scientific expertise and worldwide relationships throughout the healthcare industry that can be leveraged to add value to our portfolio companies.  HealthQuest is part of the Sofinnova Ventures network, which has been making venture investments worldwide for over 40 years, backing some of the most exciting and successful innovators in healthcare.  HealthQuest Capital is headquartered in Menlo Park, CA with offices in Southern CA, Florida, and Georgia. www.healthquestcapital.com.

Contact Information:
Jennifer James
Partner – Investor Relations and Marketing
HealthQuest Capital
(650) 681-8429; [email protected]

Photo - http://photos.prnewswire.com/prnh/20140819/137198

SOURCE HealthQuest Capital

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today that Taica will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Taica manufacturers Alpha-GEL brand silicone components and materials, which maintain outstanding performance over a wide temperature range -40C to +200C. For more information, visit http://www.taica.co.jp/english/.
As hybrid cloud becomes the de-facto standard mode of operation for most enterprises, new challenges arise on how to efficiently and economically share data across environments. In his session at 21st Cloud Expo, Dr. Allon Cohen, VP of Product at Elastifile, will explore new techniques and best practices that help enterprise IT benefit from the advantages of hybrid cloud environments by enabling data availability for both legacy enterprise and cloud-native mission critical applications. By rev...
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busine...
Organizations do not need a Big Data strategy; they need a business strategy that incorporates Big Data. Most organizations lack a road map for using Big Data to optimize key business processes, deliver a differentiated customer experience, or uncover new business opportunities. They do not understand what’s possible with respect to integrating Big Data into the business model.
Companies are harnessing data in ways we once associated with science fiction. Analysts have access to a plethora of visualization and reporting tools, but considering the vast amount of data businesses collect and limitations of CPUs, end users are forced to design their structures and systems with limitations. Until now. As the cloud toolkit to analyze data has evolved, GPUs have stepped in to massively parallel SQL, visualization and machine learning.
Recently, REAN Cloud built a digital concierge for a North Carolina hospital that had observed that most patient call button questions were repetitive. In addition, the paper-based process used to measure patient health metrics was laborious, not in real-time and sometimes error-prone. In their session at 21st Cloud Expo, Sean Finnerty, Executive Director, Practice Lead, Health Care & Life Science at REAN Cloud, and Dr. S.P.T. Krishnan, Principal Architect at REAN Cloud, will discuss how they b...
Enterprises have taken advantage of IoT to achieve important revenue and cost advantages. What is less apparent is how incumbent enterprises operating at scale have, following success with IoT, built analytic, operations management and software development capabilities – ranging from autonomous vehicles to manageable robotics installations. They have embraced these capabilities as if they were Silicon Valley startups. As a result, many firms employ new business models that place enormous impor...
The next XaaS is CICDaaS. Why? Because CICD saves developers a huge amount of time. CD is an especially great option for projects that require multiple and frequent contributions to be integrated. But… securing CICD best practices is an emerging, essential, yet little understood practice for DevOps teams and their Cloud Service Providers. The only way to get CICD to work in a highly secure environment takes collaboration, patience and persistence. Building CICD in the cloud requires rigorous a...
SYS-CON Events announced today that MIRAI Inc. will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MIRAI Inc. are IT consultants from the public sector whose mission is to solve social issues by technology and innovation and to create a meaningful future for people.
Data scientists must access high-performance computing resources across a wide-area network. To achieve cloud-based HPC visualization, researchers must transfer datasets and visualization results efficiently. HPC clusters now compute GPU-accelerated visualization in the cloud cluster. To efficiently display results remotely, a high-performance, low-latency protocol transfers the display from the cluster to a remote desktop. Further, tools to easily mount remote datasets and efficiently transfer...
SYS-CON Events announced today that Dasher Technologies will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Dasher Technologies, Inc. ® is a premier IT solution provider that delivers expert technical resources along with trusted account executives to architect and deliver complete IT solutions and services to help our clients execute their goals, plans and objectives. Since 1999, we'v...
In his session at 21st Cloud Expo, Raju Shreewastava, founder of Big Data Trunk, will provide a fun and simple way to introduce Machine Leaning to anyone and everyone. Together we will solve a machine learning problem and find an easy way to be able to do machine learning without even coding. Raju Shreewastava is the founder of Big Data Trunk (www.BigDataTrunk.com), a Big Data Training and consulting firm with offices in the United States. He previously led the data warehouse/business intellige...
SYS-CON Events announced today that TidalScale, a leading provider of systems and services, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. TidalScale has been involved in shaping the computing landscape. They've designed, developed and deployed some of the most important and successful systems and services in the history of the computing industry - internet, Ethernet, operating s...
SYS-CON Events announced today that TidalScale will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. TidalScale is the leading provider of Software-Defined Servers that bring flexibility to modern data centers by right-sizing servers on the fly to fit any data set or workload. TidalScale’s award-winning inverse hypervisor technology combines multiple commodity servers (including their ass...
Gemini is Yahoo’s native and search advertising platform. To ensure the quality of a complex distributed system that spans multiple products and components and across various desktop websites and mobile app and web experiences – both Yahoo owned and operated and third-party syndication (supply), with complex interaction with more than a billion users and numerous advertisers globally (demand) – it becomes imperative to automate a set of end-to-end tests 24x7 to detect bugs and regression. In th...