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; Jennifer@sofinnova.com

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 Ocean9will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Ocean9 provides cloud services for Backup, Disaster Recovery (DRaaS) and instant Innovation, and redefines enterprise infrastructure with its cloud native subscription offerings for mission critical SAP workloads.
MongoDB Atlas leverages VPC peering for AWS, a service that allows multiple VPC networks to interact. This includes VPCs that belong to other AWS account holders. By performing cross account VPC peering, users ensure networks that host and communicate their data are secure. In his session at 20th Cloud Expo, Jay Gordon, a Developer Advocate at MongoDB, will explain how to properly architect your VPC using existing AWS tools and then peer with your MongoDB Atlas cluster. He'll discuss the secur...
Things are changing so quickly in IoT that it would take a wizard to predict which ecosystem will gain the most traction. In order for IoT to reach its potential, smart devices must be able to work together. Today, there are a slew of interoperability standards being promoted by big names to make this happen: HomeKit, Brillo and Alljoyn. In his session at @ThingsExpo, Adam Justice, vice president and general manager of Grid Connect, will review what happens when smart devices don’t work togethe...
Building a cross-cloud operational model can be a daunting task. Per-cloud silos are not the answer, but neither is a fully generic abstraction plane that strips out capabilities unique to a particular provider. In his session at 20th Cloud Expo, Chris Wolf, VP & Chief Technology Officer, Global Field & Industry at VMware, will discuss how successful organizations approach cloud operations and management, with insights into where operations should be centralized and when it’s best to decentraliz...
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
Deep learning has been very successful in social sciences and specially areas where there is a lot of data. Trading is another field that can be viewed as social science with a lot of data. With the advent of Deep Learning and Big Data technologies for efficient computation, we are finally able to use the same methods in investment management as we would in face recognition or in making chat-bots. In his session at 20th Cloud Expo, Gaurav Chakravorty, co-founder and Head of Strategy Development ...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
Most companies are adopting or evaluating container technology - Docker in particular - to speed up application deployment, drive down cost, ease management and make application delivery more flexible overall. As with most new architectures, this dream takes a lot of work to become a reality. Even when you do get your application componentized enough and packaged properly, there are still challenges for DevOps teams to making the shift to continuous delivery and achieving that reduction in cost...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
Imagine having the ability to leverage all of your current technology and to be able to compose it into one resource pool. Now imagine, as your business grows, not having to deploy a complete new appliance to scale your infrastructure. Also imagine a true multi-cloud capability that allows live migration without any modification between cloud environments regardless of whether that cloud is your private cloud or your public AWS, Azure or Google instance. Now think of a world that is not locked i...
Technology innovation is the driving force behind modern business and enterprises must respond by increasing the speed and efficiency of software delivery. The challenge is that existing enterprise applications are expensive to develop and difficult to modernize. This often results in what Gartner calls "Bimodal IT," where business struggle to apply modern tools and practices to traditional monolithic applications. But these existing assets can be modernized and made more efficient without havin...
SYS-CON Events announced today that Technologic Systems Inc., an embedded systems solutions company, will exhibit at SYS-CON's @ThingsExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Technologic Systems is an embedded systems company with headquarters in Fountain Hills, Arizona. They have been in business for 32 years, helping more than 8,000 OEM customers and building over a hundred COTS products that have never been discontinued. Technologic Systems’ pr...
SYS-CON Events announced today that CA Technologies has been named “Platinum Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business – from apparel to energy – is being rewritten by software. From ...
SYS-CON Events announced today that Auditwerx will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Auditwerx specializes in SOC 1, SOC 2, and SOC 3 attestation services throughout the U.S. and Canada. As a division of Carr, Riggs & Ingram (CRI), one of the top 20 largest CPA firms nationally, you can expect the resources, skills, and experience of a much larger firm combined with the accessibility and attent...
SYS-CON Events announced today that HTBase will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. HTBase (Gartner 2016 Cool Vendor) delivers a Composable IT infrastructure solution architected for agility and increased efficiency. It turns compute, storage, and fabric into fluid pools of resources that are easily composed and re-composed to meet each application’s needs. With HTBase, companies can quickly prov...