European specialist investor Life Sciences Partners has easily beaten its target for its Health Economics Fund by holding a €112m final close.
LSP had hoped to gather €100m for the vehicle, which will target healthcare companies commercialising products in the areas of medical technology, diagnostics and e-health.
The firm says it only targets companies with products or technologies which improve the quality of healthcare while reducing its cost.
HEF will be used to invest in Europe and North America, focusing on later stage private companies with products on the market or close to market introduction.
The fund made its first investment in IlluminOss Medical, a US company commercializing an innovative, minimally invasive and cost saving approach to orthopaedic implants for the treatment of bone fractures.
LSP general partner René Kuijten said, “We are delighted to have Dutch, German and French health insurance companies as LPs, next to a number of top quality family offices and asset managers.
Rudy Dekeyser, managing partner LSP HEF, added, “The concept of sustainable healthcare is very attractive to investors who expect a socio-economic return next to a financial return.
“In parallel with the fundraising we have built a rich portfolio of interesting investment dossiers and expect to make several more investments in the coming months.”
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