Private Equity Firm Healthcare

Frazier Healthcare Partners

Seattle, Washington, United States

Since 1991, Frazier Healthcare Partners leverages its investment professionals, Center of Excellence, Senior Advisors and Executives in Residence to identify broader industry trends, develop specific investment theses, and partner with industry executives to identify, acquire, and optimize healthcare businesses across a growth buyout strategy.

Focus Areas
Healthcare services, Healthcare IT / healthcare technology, Medical devices

Tracked deals

29

29 tracked deals across 2016-2026.

Recent pace

5

5 tracked deals announced in the last 12 months.

Deal mix

Buyout

13 buyout · 10 addon · 4 recapitalization

Frazier Healthcare Partners Acquisition Volume by Year

Last 8 years

Acquisition volume by year Annual acquisition counts for the last 8 years for Frazier Healthcare Partners. 1 2019 3 2020 7 2021 2 2022 2 2023 5 2024 4 2025 ~7 est. 4 2026
Actual Full-year estimate

Supporting Data

Recent Transactions

Showing the 12 most recent of 29 tracked deals for Frazier Healthcare Partners.

  • Buyer
    Frazier Healthcare Partners
    Target
    MatrixCare, Healthcare First, Citus
    Seller
    ResMed
    Industry
    Cloud & SaaS

    Frazier Healthcare Partners has entered into a definitive agreement to acquire MatrixCare, a cloud-based electronic health record (EHR) software platform for out-of-hospital/post-acute care settings, from ResMed. The deal includes MatrixCare and related offerings historically sold under the MatrixCare brand (including Healthcare First and Citus) and is expected to close in 2026 (during the third quarter or ResMed’s first fiscal quarter 2027) subject to customary conditions and regulatory approvals.

  • Buyer
    Frazier Healthcare Partners
    Target
    Altruix
    Seller
    WindRose Health Investors
    Type
    Buyout

    Frazier Healthcare Partners has completed the acquisition of Altruix, a behavioral health-focused specialty pharmacy platform headquartered in Hunt Valley, Maryland. Concurrent with closing, Frazier appointed Randy Hyun as Chief Executive Officer, with Altruix’s former CEO Greg Ganse continuing as an investor and advisor.

  • Buyer
    CareTria, Frazier Healthcare Partners
    Target
    CaryHealth
    Location
    District of Columbia, United States
    Type
    Buyout

    CareTria, a therapy initiation partner backed by Frazier Healthcare Partners, announced the acquisition of CaryHealth, an AI-powered digital pharmacy focused on digital patient engagement and prescription fulfillment. The combined platform is positioned as a direct-to-patient pharmacy ecosystem that integrates provider demand generation, telehealth, rapid benefit investigation, AI-enabled onboarding, and multi-modal dispensing to improve therapy initiation and adherence.

  • Buyer
    DirectMed Imaging, Frazier Healthcare Partners
    Target
    Tri-Imaging Solutions
    Industry
    Medical Devices
    Type
    Addon

    DirectMed Imaging, a portfolio company of Frazier Healthcare Partners, has acquired Tri-Imaging Solutions and will combine the two businesses under the Tri-Imaging name. The transaction creates a scaled imaging solutions platform that expands parts inventory, service capabilities, and technical training for healthcare networks, independent service organizations, and equipment manufacturers.

  • Buyer
    Vatica Health, Frazier Healthcare Partners
    Target
    Cozeva
    Seller
    Applied Research Works, Inc.
    Type
    Addon

    Vatica Health, a Frazier Healthcare Partners portfolio company, has closed a merger with Cozeva, a SaaS platform for value-based care enablement. The combination integrates Vatica's point-of-care risk adjustment and clinical services with Cozeva's population health and quality platform to offer a more comprehensive suite of solutions for payers and providers.

  • Buyer
    Knipper Health, Frazier Healthcare Partners
    Target
    eBlu Solutions
    Type
    Addon

    Knipper Health, a therapy initiation and fulfillment provider backed by Frazier Healthcare Partners, has acquired eBlu Solutions, a provider-integrated platform for real-time benefit investigation and electronic prior authorization. The deal integrates eBlu's automation capabilities with Knipper's national fulfillment network to accelerate patient enrollment and streamline order-to-therapy initiation.

  • Buyer
    Frazier Healthcare Partners
    Target
    Knipper Health
    Seller
    Court Square Capital Partners
    Type
    Buyout

    Frazier Healthcare Partners has acquired Knipper Health from Court Square Capital Partners in a transaction that closed in February 2025. Knipper Health, headquartered in Lakewood, New Jersey, provides sample management & marketing, custom pharmacy solutions and third-party logistics to pharmaceutical, biotechnology and medical device companies; financial terms were not disclosed.

  • Buyer
    DirectMed Imaging, Frazier Healthcare Partners
    Target
    Richardson Healthcare
    Seller
    Richardson Electronics, Ltd.
    Industry
    Medical Devices

    DirectMed Imaging has acquired a majority of Richardson Electronics' Richardson Healthcare reportable segment, including the Fort Mill, South Carolina operation, in a transaction that closed January 24, 2025. Richardson Electronics will consolidate remaining healthcare assets into its PMT segment and enter a 10-year global supply agreement with DirectMed for repaired Siemens CT X-ray tubes while DirectMed expands its CT tube manufacturing, parts inventory and training capabilities.

  • Buyer
    Elevate Patient Financial Solutions, Frazier Healthcare Partners, The Edgewater Funds
    Target
    NYX Health Eligibility Services
    Type
    Addon

    Elevate Patient Financial Solutions (ElevatePFS), a PE-backed provider of technology-enabled revenue cycle management (RCM) solutions, has acquired NYX Health Eligibility Services, a Medicaid eligibility verification and enrollment specialist based in Alpharetta, Georgia. The add-on expands ElevatePFS' front-end eligibility and enrollment capabilities to strengthen its end-to-end RCM offering for hospitals and health systems.

  • Buyer
    Frazier Healthcare Partners
    Target
    DirectMed Imaging
    Seller
    NMS Capital
    Type
    Buyout

    Frazier Healthcare Partners has completed the acquisition of DirectMed Imaging from NMS Capital. DirectMed, based in Poway, California, is a provider of aftermarket parts, repairs and systems for diagnostic imaging equipment; Frazier will support organic and acquisitive growth to expand modalities and global reach. Terms were not disclosed.

  • Buyer
    Frazier Healthcare Partners
    Target
    BioMatrix Holdings, LLC (BioMatrix Specialty Infusion Pharmacy)
    Seller
    Triton Pacific Healthcare Partners, ACON Investments, L.L.C.
    Type
    Buyout

    Frazier Healthcare Partners has completed the acquisition of BioMatrix Holdings, LLC (BioMatrix Specialty Infusion Pharmacy), a Plantation, Florida–based provider of home-based specialty infusion services. Financial terms were not disclosed; Frazier is partnering with industry executives Ted and Kathee Kramm to expand BioMatrix’s national footprint and accelerate growth through new locations and add-on acquisitions.

  • Buyer
    Frazier Healthcare Partners, NEA (New Enterprise Associates), 22C Capital, RevSpring senior leadership team
    Target
    RevSpring
    Seller
    GTCR
    Type
    Buyout

    Frazier Healthcare Partners has completed the acquisition of RevSpring, a Nashville-based provider of patient engagement, communications and payment solutions, from private equity firm GTCR. Frazier is joined in the transaction by NEA, 22C Capital and RevSpring's senior leadership team and intends to invest in the company's product and go-to-market capabilities to accelerate growth.

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